Fire Protection Materials Market – Business Opportunities and Global Forecast to 2024
The report "Fire Protection Materials Market for Construction by Type (Coatings, Sealants & Fillers, Mortar, Sheets/Boards, Spray, Preformed Device, Putty, Cast-in Devices), Application (Commercial, Industrial, and Residential) - Global Forecast to 2024", is projected to reach USD 4.0 billion by 2024, at a CAGR of 8.5% from USD 2.7 Billion in 2019. The increased emphasis on passive fire protection systems due to stricter building codes regulated by NFPA and construction regulations is a key driver for this market. The increased number of structural fire accidents globally has created a need for stringent fire safety regulations. Growing construction activities fueled by growing GDP and increased funding in PPP projects have also significantly increased the consumption of fire protection materials globally.
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Browse 104 market data Tables and 53 Figures spread through 145 Pages and in-depth TOC on "Fire Protection Materials Market”
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the fire protection materials market. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:
The key players in the industry were identified through extensive secondary research.
The industry’s supply chain and market size in terms of value were determined through primary and secondary research processes.
All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Commercial construction is projected to be the largest application of fire protection materials during the forecast period.
Commercial construction is projected to dominate the fire protection materials market during the forecast period. The growing demand for passive fire protection system and increased emphasis on fire safety codes and regulations are driving the market in this application.
North America is expected to account for the largest share of the fire protection materials market during the forecast period.
North America is expected to account for the largest market share during the forecast period. The growth is mainly due to strict implementation of NFPA codes. The growing emphasis on passive fire protection system influenced by fire-stop contractors and regulatory organizations has a huge impact on this market.
The key market players profiled in the report include Hilti Group (Liechtenstein), 3M (US), Specified Technologies Inc. (US), ETEX (Belgium), Morgan Advanced Materials (UK), Akzo Nobel NV (Netherlands), Jotun (Norway), Sika AG (Switzerland), and Rolf Kuhn GmbH (Germany)
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