Press release
Passive Fire Protection Market Size, Growth Analysis, Share, Key Trends And Forecast To 2033
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company presents an extensive market research report on the Passive Fire Protection Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The passive fire protection market size has grown strongly in recent years. It will grow from $4.77 billion in 2023 to $5.14 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to focus on energy efficiency, rise in construction activities, increased awareness of fire safety, high-rise construction, supply chain visibility.
The passive fire protection market size is expected to see strong growth in the next few years. It will grow to $6.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to continued stringent regulations, growth in construction projects, rising awareness of fire safety, innovations in material science, expansion of urban spaces. Major trends in the forecast period include post-fire investigation awareness, globalization and market expansion, energy efficiency and sustainability, insurance industry influence, urbanization and high-rise buildings.
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Key Market Players:
Major companies operating in the passive fire protection market report are Tata Projects Limited, BASF SE, 3M Company, Larsen & Toubro Limited, PPG Industries Inc., Akzo Nobel N.V., Sika AG, Webuild S.p.A., RPM International Inc., StanChem Inc., Etex Building Performance Ltd., Salini Impregilo S.p.A., Jotun AS, Tremco Incorporated, GMR Infrastructure Ltd., Rotarex S.A., Mercor SA, Lloyd Insulations Limited, Specified Technologies Inc., Safety Technology International Inc., Scaletron Industries Ltd., Envirograf Products Limited, Clean Air Company, Daussan SAS, No-Burn Inc., Master Fire Prevention Systems Inc., Floyd Bell Inc., SC Fastening Systems LLC, Contego International Inc., Acoustical Surfaces Pvt Ltd.
Market Drivers:
The growing construction sector is driving the growth of the passive fire protection market. Construction is a sector that deals with the building, maintenance, and repair of structures and buildings, as well as the construction of roadways and service facilities. Fireproof materials are used in the construction sector for fire safety in the building as they are non-combustible with low thermal conductivity and take a long time for the fire to affect the structures, and protects the spread of fire. For instance, according to Global Construction Perspectives and Oxford report, the worldwide construction sector is projected to reach $8 trillion by 2030. Therefore, the growing construction sector is expected to propel the growth of the passive fire protection market in the coming years.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/passive-fire-protection-global-market-report
The passive fire protection market covered in this report is segmented -
1) By Product: Cementitious Materials, Intumescent Coating, Fireproofing Cladding, Other Products
2) By Application: Structural, Compartmentation, Opening Protection, Firestopping Material
3) By End-User: Oil And Gas, Construction, Industrial, Warehousing, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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