Fire Protection Material Market Size to hit USD 5.98 billion, Growth and Forecast 2029 - AkzoNobel N.V., PPG Industries, Jotun, Sherwin-Williams

The global market for Fire Protection Material estimated at USD 2.8 billion in 2022, is projected to reach a revised size of USD 5.98 billion by 2029 registering a compounded annual growth rate (CAGR) of 8.8% over the period 2023-2029.

The latest report titled Fire Protection Material Market contains wide-broadening quantifiable facts of the market and studies current industry circumstances on a large scale to offer the market consequences, market value, and growth valuation. The report includes skilful examination, data on the overall market, as well as constraints and headway purposes of the future along with a noteworthy perception of the improvement of the global Fire Protection Material market.

The report describes the profile of the top manufacturers of the global Fire Protection Material market. It also covers segments such as competitor segment, product type segment, end use/application segment, and geography segment. The authors of the report have examined market demand, turnover, production and growth potential, geographic analysis, as well as current market developments in various regions and countries.

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Competitive Assessment:

The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the market, and primary (industry experts) validation. This report helps to gather information about all the above factors by providing actionable market insights and comprehensive analysis. The Fire Protection Material market report mainly focuses on important aspects of the market which include historical data, current market trends, environment, technological innovations, upcoming technologies, and technological advancement in the industry among others.

Leading market players in the Fire Protection Material market is focusing on strategies such as expansion, new product launches, and acquisitions to gain large market share and enhance their global presence in the target market. Some Key Competitors of the Fire Protection Material market is AkzoNobel N.V., PPG Industries, Jotun, Sherwin-Williams, Hempel, RPM International, Sika, ETEX group, Kansai Paints and Teknos and others.

Recent Developments

In May 2022, Henkel launched two new fire protection coating products Loctite EA 9400 and Loctite FPC 5060 which the company has designed to protect electric vehicle batteries against heat and fire in case of a thermal runaway event.
In July 2021, Trelleborg launched its new lightweight fire-resistant material which could be flame resistant to 1500°C for up to seven hours and has cryogenic performance rated -192°C.
In July 2021, Perimeter Solutions Acquires Magnum Fire & Safety System which is a manufacturer of firefighting foam equipment and the acquisition will expand the company's ability in globally develop fire-resistant foam.

Fire Protection Material Market Segmentation:

Fire Protection Material Market by Product Type, 2023-2029, (USD Million, Kilotons)

Intumescent Coatings
Cementitious Coatings
Adhesives & Sealants
Others

Fire Protection Material Market By Application, 2023-2029, (USD Million, Kilotons)

Pipe
Duct
Steel Fireproofing
Cable And Wire Tray Fireproofing

Fire Protection Material Market by End-Users, 2023-2029, (USD Billion, and Kilotons)

Residential
Commercial
Infrastructure

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Regional Framework

The Fire Protection Material Market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the market based on various segments. It also provides market size and forecast estimates from the years 2023-2029 with respect to five major regions. The market by each region is later sub-segmented by respective countries and segments. The Fire Protection Material market report covers the analysis and forecast globally along with the current trend and opportunities prevailing in the region.

⇨ North America (United States, Canada, and Mexico)

⇨ Europe (Germany, France, UK, Russia, and Italy)

⇨ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

⇨ South America (Brazil, Argentina, Colombia, etc.)

⇨ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Fire Protection Materials Market Drivers

Bolstering Growth of Automotive Sector:

Fire Protection Materials such as coatings are used in automotive interiors such as seats and dashboards, while in electric vehicles they provide a protective layer to batteries which prevents them from catching fire on getting heated up. Furthermore, as foam products, fire protection materials have high applicability in manufacturing plants where they are majorly used to prevent fire incidence during the manufacturing process. The automotive sector has shown significant growth on account of high demand for passenger & light commercial vehicles, as well as the setting up of new electric vehicle plants.

Growing Consumption of Electronic Items:

Electronic products consist of components such as semiconductors, circuit boards, transformers and batteries that are considered to be potential ignition sources. Fire Protection Materials are majorly used during the casting process of these components to prevent small ignition from turning into bigger fire scenarios. The electrical & electronics sector on account of the flourishing demand for electrical devices and consumer electronics like smartphones, television and PCs, has grown rapidly.

Fire Protection Materials Market Challenge

Negative Health Effects of Fire Protection Materials:

Fire Protection Materials though have high industrial applicability but negative health effects caused by their consumption could pose a major challenge in the growth of the fire protection materials industry. Improper handling of plaster such as gypsum could lead to workers getting exposed to such items which would result in a series of serious health effects ranging from coughing, sneezing and skin & eyes irritation to nosebleed and upper respiratory problems.

This Report Also Includes:

» Fire Protection Material Market Insights methodology

» Tactics and suggestions for new entrants

» Segmentation analysis

» Economic indices

» Companies' strategic developments

» Fire Protection Material Market growth drivers and restraints

» Selected illustrations of the market penetrations and trends

Crucial insights in Fire Protection Material research report:

Underlying macro- and microeconomic factors impacting the Sales of Fire Protection Material.
Basic overview of the Fire Protection Material, including market definition, classification, and applications.
Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend and supply side analysis of Fire Protection Material across various industries.
Important regions and countries offering lucrative opportunities to market stakeholders.

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The Study Objectives are:

✔ An in-depth look at the key players in the Fire Protection Material market, as well as the data that goes with them.

✔ It includes a product portfolio, annual revenue, research and development spending, geographic presence, recent key developments, and growth strategies.

✔ Regional analysis, which includes information on the dominant Fire Protection Material market and its share of the market.

✔ It also includes various socioeconomic factors that influence the market's evolution in the region.

✔ The report provides a detailed look at various members of the value chain, including raw material suppliers, distributors, and stockholders.

Key questions answered in the report:
✦ What is the Fire Protection Material market's growth potential?
✦ Which product category will be the most profitable?
✦ In the coming years, which regional market will emerge as a leader?
✦ Which application segment will continue to expand at a steady rate?
✦ What are the potential growth opportunities in the Fire Protection Material Market in the coming years?
✦ What are the most significant challenges that the global Fire Protection Material Markets may face in the future?
✦ What are the top companies in the global Fire Protection Material market?
✦ What are the main trends that are positively impacting the market's growth?

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