Global Fire Proofing Materials Market Insights Forecasts to 2032
- The Fire Proofing Materials Market Size was valued at USD 4.56 Billion in 2022.
- The Market Size is Growing at a CAGR of 8.9% from 2022 to 2032
- The Worldwide Fire Proofing Materials Market Size is expected to reach USD 8.74 Billion by 2032
- North America is expected to grow the fastest during the forecast period
Get more details on this report -
The Global Fire Proofing Materials Market Size is expected to reach USD 8.74 Billion by 2032, at a CAGR of 8.9% during the forecast period 2022 to 2032.
To strengthen the fire resistance of structures, materials, or surfaces, fireproofing materials or coatings are utilised. These materials are intended to slow or stop the spread of flames, minimise heat transfer, and offer safety against fire-related harm. To increase the fire resistance of structures, fireproofing materials are frequently employed in building construction. They are used on structural components including steel beams, columns, and flooring in order to slow the spread of fire and give people more time to leave.
Impact of COVID 19 On Global Fire Proofing Materials Market
Global supply networks, particularly those for the manufacture and delivery of fireproofing products, have been disrupted by the pandemic. The availability of raw materials and completed goods has been delayed as a result of production, transportation, and trade restrictions, which has had an impact on the overall supply of fireproofing materials. During the pandemic, the building industry, a big consumer of fireproofing materials, slowed considerably. Project delays, cancellations, and decreased construction activity have been caused by lockdown procedures, labour shortages, and economic uncertainty. The need for fireproofing products in the construction industry has been impacted by this. Businesses and industries have been concentrating on implementing COVID-19 safety measures, adjusting to remote work arrangements, and solving immediate operational problems. As a result, it's possible that investments in fireproofing tools and methods have been delayed or given less priority.
Global Fire Proofing Materials Market Report Coverage
|Market Size in 2022 :||USD 4.56 Billion|
|Forecast Period 2022-2032 CAGR:||8.9%|
|2032 Value Projection:||USD 8.74 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Type, By Application, By Region|
|Companies Covered:||Technologies Inc. (U.S.), Trelleborg AB (publ) (Sweden), BASF SE (Germany), PPG Industries Ohio, Inc.(U.S.), 3M (U.S.), Akzo Nobel N.V (Netherlands), Etex Group (Belgium), Morgan Advanced Materials (U.K.), ROCKWOOL Asia (Denmark), svt Group of Companies (U.S.), Sika AG (Switzerland), The Sherwin-Williams Company (U.S.), Unifrax (U.S.), SCHOTT AG (Germany), Nippon Sheet Glass Co. Ltd. (Japan), Saint Gobain S.A (France), Henkel AG and Co. KgaA (Germany)|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
Get more details on this report -
Key Driving Factors
In recent years, the development and growth of fireproofing materials have been significant. Effective fire safety measures are now more crucial than ever, especially in sectors like industry, transportation, and construction. There has been a greater focus on safety and the possible effects of fire, which has increased awareness of the significance of fire protection among people, businesses, and organisations. As a result, there is now more need for fireproofing products and materials. To safeguard buildings, machinery, and assets, fireproofing materials are used in a variety of industries. For instance, steel structures in construction are coated with fire-resistant materials to stop or postpone structural breakdown during a fire. Similar to this, the aerospace sector uses fireproof insulation materials to shield aircraft parts from heat and flames. The market has grown as a result of the rising use of fireproofing solutions in various industries. The market for fireproofing products has been significantly influenced by public awareness campaigns and educational initiatives aimed at promoting fire safety.
Key Restraining Factors
Building codes and fire safety requirements might differ between locations and sectors. For producers and end users, staying current with the most recent rules and maintaining compliance can be difficult. It might be difficult and complex to adjust to changing regulatory standards and acquire essential certifications. Despite the rise in fire safety awareness, ongoing education and awareness initiatives are still required to spread the word about the advantages and significance of fireproofing materials. Many people and organisations might not fully comprehend the dangers of fire or the proper fire safety precautions. It is still difficult to inform stakeholders of the benefits and appropriate application of fireproofing materials.
Sealants segment is dominating the market with the largest market share
On the basis of type, the global fireproofing materials market is segmented into Sheet/Board, Sealant, Mortar, Spray, Putty. Among these, sealants segment is dominating the market with the largest market share over the forecast period. Continuous efforts in research and development to enhance the qualities of sealants, such as improved adhesion, flexibility, chemical resistance, and environmental sustainability, also contribute to the industry's success. Additionally, the variety of uses for sealants has increased as a result of the development of new technologies and creative formulations.
Putty, on the other hand is witnessing the fastest market growth over the forecast period. Continuous product innovation, such as the introduction of ecologically friendly and low-VOC (volatile organic compound) formulations, further supports the expansion of putty. In order to meet industry-specific requirements, manufacturers are increasingly creating specialised putties with certain characteristics, such as fire resistance, chemical resistance, or high-temperature resistance.
Commercial construction segment accounted the largest market share over the forecast period
Based on the application, the global fireproofing materials market is segmented into Commercial, Industrial, Residential. Among these, commercial construction segment accounted the largest market share over the forecast period. As construction activity increases globally, the market for fireproofing materials is expanding. Technology improvement has resulted in the creation of more effective fireproofing technologies that are also more environmentally friendly. Additionally, the need for fireproofing materials that are both fire-resistant and environmentally benign has increased as a result of the trend towards sustainable construction methods.
Industrial segment, on the other hand is witnessing the fastest market growth over the forecast period. Steel and concrete structural elements in industrial buildings like refineries, chemical factories, and power plants need to be protected from fire. Often, intumescent coatings and fireproofing sprays are applied to these structures to increase their fire resistance. The necessity to comply with regulations, maintain operational continuity, and insurance requirements are what drive the demand for fireproofing materials in the industrial sector. Additionally, high-value assets and complicated processes are present in industrial sectors including oil and gas, petrochemicals, power production, and manufacturing, necessitating effective fire protection methods.
Asia Pacific is dominating the market with the largest market share over the forecast period
Get more details on this report -
Among all other regions, Asia Pacific is dominating the market with the largest market share over the forecast period. The need for fireproofing materials has increased as a result of the enormous growth in infrastructure development and building in the Asia Pacific area. The need for fireproofing materials in the area has also been influenced by the region's increasing knowledge of fire safety legislation and the need for better building safety standards. Due to their enormous populations, fast urbanisation, and considerable construction activity, China and India account for the majority of the market for fireproofing materials in the Asia Pacific area. Additionally, the market for fireproofing materials is expanding in nations including Japan, South Korea, Australia, and Southeast Asian countries.
North America region is witnessing the fastest market growth over the forecast period. The North American construction sector includes a sizeable portion of the market for fireproofing materials. Buildings, commercial buildings, and transportation infrastructure all benefit from the use of fireproofing materials to increase their fire resistance. These resources aid in slowing or stopping the spread of fire, giving people more time to flee and causing less harm.
Recent Market Developments
- On June 2021, The purchase of the operations of Dudick Inc. by Carboline has been announced. With its headquarters in Streetsboro, Ohio, Dudick is a global leader in high-performance coatings, floors, and tank linings.
List of Key Companies
- Technologies Inc. (U.S.)
- Trelleborg AB (publ) (Sweden)
- BASF SE (Germany)
- PPG Industries Ohio, Inc.(U.S.)
- 3M (U.S.)
- Akzo Nobel N.V (Netherlands)
- Etex Group (Belgium)
- Morgan Advanced Materials (U.K.)
- ROCKWOOL Asia (Denmark)
- svt Group of Companies (U.S.)
- Sika AG (Switzerland)
- The Sherwin-Williams Company (U.S.)
- Unifrax (U.S.)
- SCHOTT AG (Germany)
- Nippon Sheet Glass Co. Ltd. (Japan)
- Saint Gobain S.A (France)
- Henkel AG and Co. KgaA (Germany)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Fire Proofing Materials Market based on the below-mentioned segments:
Fire Proofing Materials Market, Type Analysis
Fire Proofing Materials Market, Application Analysis
Fire Proofing Materials Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Need help to buy this report?