Press release
Fire Stopping Material Market Growth, Trends, Business Challenges, Future Investment and Forecast 2032: SPER Market Research
The global fire stopping material market is driven by the increasing demand for fire safety measures in buildings and the growing focus on building codes and regulations. As urbanization and construction activities continue to rise worldwide, the need for effective fire stopping materials has become increasingly important.
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The COVID-19 pandemic has had a significant impact on the global fire stopping material market. The pandemic led to disruptions in the global supply chain and production activities, resulting in a decline in demand and sales of fire stopping materials in some regions.
Fire Stopping Material Market Overview:
Forecast CAGR (2022-2032): 11.85%
Forecast Market Size (2032): 4.80 billion
Impact of COVID-19 on the Fire-Stopping Material Market:
The COVID-19 pandemic has had a significant impact on the global fire stopping material market. Fire stopping materials are used in construction to prevent the spread of fire and smoke between different parts of a building. The pandemic has disrupted the construction industry, which is a major end-use market for fire stopping materials.
During the pandemic, construction activities were severely impacted due to supply chain disruptions, factory shutdowns, and reduced demand. Many construction projects were delayed or put on hold, leading to a decline in demand for fire stopping materials. Additionally, the pandemic led to a shortage of skilled labor in the construction industry, which further impacted the demand for fire stopping materials.
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Fire Stopping Material Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Type:
Boards
Cast-in Devices
Collars
Mortar
Putty and Putty Pads
By Application:
Electrical
Mechanical
Plumbing
By End User:
Commercial
Industrial
Residential
By Region:
Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
The North American, European, Asia-Pacific, and Rest of the World regions make up the global market for fire stopping materials. The greatest market was in North America. During the review period, Asia Pacific is anticipated to have the greatest CAGR. Due to the large number of growing nations in the APAC area, a wide range of industries could flourish there.
Fire Stopping Material Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; 3-M Company, BASF SE, Etex Group, Hilti Group, Knauf Insulation, Morgan Advanced Materials, Rector Seal Corporation, RPM International, Inc, Sika AG, Specified Technologies, Inc
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