Passive Fire Protection Coatings Market Size, Future Growth, Segments Forecast 2022-2028

Precision Business Insights published a research report on "Passive Fire Protection Coatings Market: By Product Type (Cementitious Material, Intumescent Coating, Fireproofing Cladding and Others), By Technology (Water-Based and Solvent-Based), By Application (Construction, Industrial, Oil & Gas, Warehousing and Others) - Global/Region/Country Forecast to 2028".

Passive fire protection coatings are a type of layer that protects industrial equipment from fires and reduces high-intensity damage. These coatings are applied to steel structures used in architecture and construction so that they may withstand fire as well as prevent the steel from reaching a critical temperature that would cause it to collapse. Sports stadiums, residential, as well as commercial structures all benefit from these coatings.

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The demand for fire protection in the steel, fuel and also gasoline, and building segments is expected to be a major market driver. Over the forecast period, the industry is expected to benefit from an increase in the number of buildings equipped with flame protection, as well as strict regulatory regulations governing the development and efficacy of passive fire protection options. Furthermore, the widespread usage of certain compounds in construction and building applications is expected to boost the industry's growth. During the projected timeframe of 2022 to 2028, the use of less expensive choices may act as a limitation on market expansion.

In terms of product, the passive fire protection coating market is categorized into cementitious material, fireproofing cladding, intumescent coating, and others. In terms of application, the passive fire protection coating market is classified into oil & gas, construction, warehousing, industrial, and others. In terms of technology, the passive fire protection coating market is divided into water-based and solvent-based. In terms of end use, the passive fire protection coating market is fragmented into building & construction, oil & gas, transportation, and others.

Asia-Pacific accounted for 42 percent of the global passive fire prevention coatings market. This increase is due to an increase in the number of residential and industrial development projects, as well as increased consumer knowledge of fire safety in the area. In India, the government has launched initiatives such as "100 smart cities" and "Housing for All by 2022," which are projected to propel the residential building market in the country throughout the forecast period. India also aims to invest US$ 1.4 trillion on infrastructure over the next five years, according to the India Brand Equity Foundation (IBEF). China approved a $143 billion investment in 26 infrastructure projects in 2019. In addition to this, High consumer disposable income, together with the growing demand for single-family homes in North America, is expected to boost the use of passive fire coating in the construction industry, boosting the geographical market.

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Some of the major key players in the Passive Fire Protection Coatings Market are AkzoNobel, PPG Industries, Sherwin-Williams, Jotun, Hempel, Promat International, Kansai Paint, Teknos Group, Carboline, Nullifire

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