Fire Protection Materials Market Precise Outlook 2020-3M, AkzoNobel NV, BASF SE, Contego International Inc
The market for fire protection materials is expected to grow at a CAGR of greater than 8% during the forecast period.
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Key Market Players:
3M, AkzoNobel NV, BASF SE, Contego International Inc., ETEX SA, Fire Protection Coatings Limited, Hempel A/S, Isolatek International, Morgan Advanced Materials, PPG Industries Inc., RectorSeal Corporation, Rolf Kunh GmbH, Sika AG, Tenmat Ltd, The Hilti Group, The Sherwin-Williams Company, Tremco Incorporated, USG Corporation, W.R. Grace & Co. and Other
June 05, 2019: M announced today it has received a binding offer from Teledyne Technologies Incorporated, to purchase 3M’s gas and flame detection business for $230 million, subject to closing and other adjustments. Teledyne is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. The gas and flame detection business is part of 3M’s Personal Safety Division.
The business is a leader in fixed and portable gas and flame detection with products sold under the Oldham, GMI, Detcon, Simtronics and Scott Safety brand names. 3M will retain the Scott Safety brand name, which is not included in the transaction. 3M’s gas and flame detection business has annual global sales of approximately $120 million.
Key Market Trends
Soaring Demand for Coatings
- Fire protection coatings are coating systems that are required to be applied on structural elements in building and construction, across various industries, to provide an adequate rescue and evacuation time during fire accidents.
- Stringent fire safety norms and regulations by governments, as well as insurance companies, and rapid urbanization have resulted in an increase in the use of fire protection coatings in building and construction projects.
- Mostly, fireproofing coatings are two-layer coatings consisting of the active layer, which acts like a shield when exposed to the rise in temperature, and a top coat that not only protects the first layer from water spill and scratches, but also provides an attractive matte finish to the wooden surface.
- Basically, there are two types of fire protection coatings: cementitious and intumescent coatings or passive fire protection coatings.
- Two key aspects of fire performance are fire-resistance and reaction-to-fire. Fire-resistance refers to the ability of a material or system to withstand exposure to high temperatures based on thermal insulation and mechanical integrity evaluations.
- Silicone-based flame retardant coatings are convenient and effective to decrease the flammability of the substrate materials.
- All the aforementioned factors may help the market studied to flourish during the forecast period.
North America to Witness Fastest Growth
- North America holds a share of more than 20% and is expected to witness a fastest rate during the forecast period.
- The US construction industry is one of largest industries worldwide. The construction industry has been witnessing a steady growth in the recent growth. The industry is projected to continue to register a growth rate of 4.5% through 2020.
- With the growing trend of multi-family building and rise in migration to cities, the US Census Bureau has been providing more permits for the construction of new residential buildings. These construction activities are expected to augment the demand for fire protection materials in the country during the forecast period.
- The oil and gas drilling and production activities in the United States increased after the drastic fall in 2016. This can be attributed to factors, including the rising crude oil prices, the increase in the exploration of shale resources, and increasing natural gas exports by the country. In 2019, Exxon Mobil Corporation started construction in its Beaumont refinery. The expansion is expected to the make the facility the largest in the United States.
- These aforementioned factors are anticipated to drive the demand for fire protection materials during the forecast period.
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The market factors explained in the report:
Market Overview: It includes Fire Protection Materials Market study scope, top key players, segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.
Executive Summary: The Fire Protection Materials Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Regional Study: All of the regions and countries analyzed in the Fire Protection Materials Market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.
Key Players: This part of the Fire Protection Materials Market report discusses expansion plans of companies, key mergers and acquisitions, funding and investment analysis, company establishment dates, revenues of manufacturers, and their areas served and manufacturing bases.
Market Forecast: Here, the report offers a complete forecast of the global Fire Protection Materials Market by product, application, and region. It also offers global sales and revenue forecasts for all years of the forecast period.
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