Fireproofing Materials Market worth $1.5 billion by 2026 | Key players 3M, Akzo Nobel N.V., Isolatek International, Sika AG, Etex Group

According to recent market research "Fireproofing Materials Market by Coating Type (Intumescent coatings- Thin film and Thick film, and Cementitious coatings- Cement-based and Gypsum based), End-use (Commercial, Industrial, and Residential) and by Region - Global Forecast to 2026", The fireproofing materials market is projected to reach USD 1.5 billion by 2026, at a CAGR of 9.8% from USD 0.9 billion in 2021.

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Fireproofing materials are coatings that are used on different structures to make them resistant to fire and prevent the spread of fire. These materials have various fire-resistant properties effective to prevent the spread of fire and minimize the overall impact to the structures due to fire hazards. Fireproofing materials are tailored according to fire safety and building codes. They are majorly used in commercial, industrial and residential construction. Fireproofing materials can be categorized into two types- intumescent coatings and cementitious coatings. Intumescent coatings had a larger share in terms of value in 2020 as compared to cementitious coatings. Intumescent coatings is further sub-segmented into thick film intumescent coatings and thin film intumescent coatings. Whereas cementitious coatings is sub segmented into cement-based cementitious coatings and gypsum-based cementitious coatings.

Commercial segment is the largest end use industry of the fireproofing materials market. North America was the largest market for fireproofing materials in 2020, in terms of value. Factors such as increasing fire safety regulations and increase in fire incidents will drive the fireproofing materials market.

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The fireproofing materials market size is estimated to be USD 0.9 billion in 2021 and is expected to reach USD 1.5billion by 2026, at a CAGR of 9.8% during the forecast period. Factors such as increasing fire safety regulations and increasing numbers of fire incidents will drive the fireproofing materials market. The major restraint for the market will be price sensitivity in the emerging regions and slow-down in the construction industry during COVID-19. However, growing demand for developed intumescent fireproof and water-based coatings in construction will act as an opportunity for the market.

The key market players profiled in the report include 3M (US), Akzo Nobel N.V. (Netherlands), Isolatek International (US), Sika AG (Switzerland), Etex Group (Belgium), PPG Industries, Inc (US), BASF SE (Germany), Carboline (US), RPM International Inc. (US), Jotun Group (Norway), Iris Coatings S.r.l (Italy), Knauf Insulation (US), Hempel Group (Denmark), W.R. Grace & Co. (US), Rolf Kuhn GmbH (Germany), Rockwool International AS (Denmark), No-Burn Inc. (US), The Sherwin-Williams Company (US), Contego International Inc. (US), Den Braven (Netherlands), Encon Insulation Ltd (UK), Ugam Chemicals (India), Intumescent Systems Ltd (UK), PK Companies (US), FlameOFF Coatings Inc. (US).

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RPM International Inc. and Sika AG are two major players in fireproofing materials market. In order to strengthen its position, the companies are focusing on new product launches and acquisition.

RPM International Inc. is a multinational company with subsidiaries, which are world leaders in specialty coatings, building materials, and related services. The company has three segments: industrial, consumer, and specialty. The company has a diverse portfolio with numerous brand names, which are leaders in the market they serve. The company serves government, education, healthcare, commercial, construction, residential, institutional, condominium, industrial, military, and manufacturing clients. The company offers fireproofing materials under the brand names Nullifire and Tremco. These products are widely used in industrial and commercial construction. The company has a good brand influence because of the application of these products in various industries. It has a presence in North America, Europe, South America, Asia Pacific, and the Middle East. In January 2021, Firetherm, a smart passive fire protection company, moved under the brand Nullifire and started delivering across the UK under the same brand name.

Sika AG is a leading specialty chemicals company. The company has two business segments: the construction industry and industrial manufacturing. The company offers solutions and products in bonding, sealing, damping, reinforcing, and protecting sectors for the building and motor vehicle industries. The company has its presence in 100 countries across Europe, the Middle East & Africa, North America, South America, and Asia. Sika AG offers fireproofing materials under the construction industry segment. In June 2020, Sika AG introduced its new production facility in China. It has expanded its capacity in the rapidly growing mortar market in China. In November 2019, Sika AG acquired Adeplast SA in Romania. The company is a leading manufacturer of mortars and thermal insulation solutions in Romania.

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