Press release
Fire Stopping Materials Market is Estimated to Observe Significant Growth of USD 2.8 billion by 2029, Trends, Growth Statistics, Key Players and Forecast
Fire Stopping Materials Market Overview:Fire stopping material is a retardant that helps seal any openings to prevent fire, smoke, and heat from passing through multiple building compartments. It is made from various components and available in different types, such as mortars, collars, gypsum boards, sealants, and putty & putty pads. Fire stopping materials are used in industries, residential and commercial buildings, warehouses, and complexes. Usage of different materials in different places is based on construction model, climate, locality, and preference.
The global Fire Stopping Materials market size was valued at USD 1.6 billion in 2020, and is projected to reach USD 2.8 billion by 2029, registering a CAGR of 6.42% from 2022-2029.
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Increase in demand for fire stopping materials in wide range of sectors such as construction, oil & gas, transportation, and general sectors such as power generation, chemical, mining, and so on, will propel the fire stopping materials market growth. Also, because of growing global population, the construction industry has seen a tremendous increase in recent years, particularly in residential and commercial infrastructure projects. Such factors will fuel the fire stopping materials market opportunities during the forecast period.
Fire Stopping Materials Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are 3M Company, BASF SE, ETEX Group, Hilti Group, Knauf Insulation, Morgan Advanced Materials, Rectorseal Corporation, Rpm International, Inc., Sika Ag, Specified Technologies, INC and Others
Recent Development
9/25/2020- Etex strengthens its position in passive fire protection with the acquisition of FSi Limited
Etex announces it has acquired FSi Limited, a British company specialised in passive fire protection solutions with a strong focus on fire stopping. FSi operates a production facility in Measham, East Midlands, as well as a distribution centre in West Thurrock, Greater London Area.
October 29, 2020- Palusol® fire-protection panels with new epoxy resin coating
BASF has developed a new epoxy resin which improves the properties of the Palusol® fire-protection panels. The epoxy resin is set to be used in Palusol® production from 2020.
July 23, 2020- HILTI UNVEILS NEW PRODUCTS- Focused on increased Safety and Efficiency
Hilti North America, a commercial construction-focused technology, software and services company, has launched a suite of new tools, systems and accessories. The new lineup includes the PMD 200 jobsite layout solution, which shifts the boundary for productivity and allows faster work, with potentially less employees.
Fire Stopping Materials Market Segmentation:
Fire Stopping Materials Market by Type, 2020-2029, (USD Millions, Kilotons)
Sealants
Mortar
Boards
Fire Stopping Materials Market by Application, 2020-2029, (USD Millions, Kilotons)
Electrical
Mechanical
Plumbing
Fire Stopping Materials Market by End-Use, 2020-2029, (USD Millions, Kilotons)
Residential
Commercial
Industrial
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Growth Factors:
Increasing demand from the Fire Stopping Materials industries
The growing use of Fire Stopping Materials in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Fire Stopping Materials Market
Market Dynamics
Drivers
Increase in demand for passive fire protection systems
Increased emphasis on fire safety codes and regulations
Rise in residential and commercial sectors
Restraint
Fluctuation in raw material prices
Opportunity
Advancement in fire stopping materials
Fire Stopping Materials Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Key Fire Stopping Materials Market Trends
- The report identifies, determines, and forecasts the Global Fire Stopping Materials Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Fire Stopping Materials Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Fire Stopping Materials Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Fire Stopping Materials Market.
Frequently Asked Questions
What is the study period of this market?
What is the growth rate of Fire Protection Materials Market?
Which region has highest growth rate in Fire Protection Materials Market?
Which region has largest share in Fire Protection Materials Market?
Who are the key players in Fire Protection Materials Market?
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