Press release
Passive Fire Protection Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | Tata Projects Limited, BASF SE, 3M Company, Larsen & Toubro Limited, PPG Industries Inc., Akzo Nobel N.V
Passive Fire Protection Global Market Report 2024
The Business Research Company offers in-depth market insights through Passive Fire Protection Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Construction Sector Expansion Fueling The Passive Fire Protection Market
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.
Competitive Landscape:
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.
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Top Trend - Advanced Intelligent Fire Alarm Control Panel With Cutting-Edge Technologies
Major companies operating in the passive fire protection market are developing advanced technologies, such as fire detection and alarm systems, to meet larger customer bases, increase sales, and increase revenue. A fire detection and alarm system are a network of interconnected devices and components designed to detect the presence of fire, smoke, or heat and provide timely warnings to occupants of a building or facility. For instance, in August 2022, Honeywell International Inc., a US-based engineering and technology company, launched the Morley MAx. The Morley MAx stands out as a unique and advanced intelligent fire alarm control panel, offering both installers and end users a compact yet powerful solution with exceptional performance capabilities. Its user-friendly design encompasses a sophisticated 7-inch touch-screen panel, providing an intuitive and ergonomic interface. The display showcases color-coded events and graphical icons for enhanced clarity. Setting itself apart with cutting-edge technologies like multi-boolean logic and the CANBus protocol between panels, the Morley MAx facilitates faster communication. Notably, its networking capabilities are seamless, and it is fully compatible with Honeywell Connected Life Safety Services (CLSS), an all-encompassing cloud platform that empowers system integrators and facilities managers to deliver an elevated level of fire safety service. The Morley MAx ensures easy installation, commissioning, and maintenance, making it a technologically advanced and user-centric choice in the realm of fire alarm control panels.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Passive Fire Protection Market Characteristics
3. Passive Fire Protection Market Trends And Strategies
4. Passive Fire Protection Market - Macro Economic Scenario
5. Passive Fire Protection Market Size And Growth
…..
27. Passive Fire Protection Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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