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Passive Fire Protection Solution Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Passive Fire Protection Solution MarketThe global Passive Fire Protection Solution market was valued at US$ 4314 million in 2022 and is anticipated to reach US$ 5702.3 million by 2029, witnessing a CAGR of 4.8% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
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Passive Fire Protection Solution Market Trends
The market for passive fire protection solutions is expanding as a result of increasingly strict building safety laws and norms in different parts of the world. Strict fire safety regulations are being imposed by governments and regulatory organizations on commercial, industrial, and residential structures. In order to assure compliance with these rules and improve occupant safety, this forces construction firms and building owners to invest in passive fire protection solutions, including fire-resistant materials. Industries including petrochemicals, oil and gas, and power generation function in high-risk settings with a large danger of fire risks. Strong passive fire prevention measures are required due to the rise of these businesses as well as ongoing infrastructure development initiatives. To reduce possible fire-related dangers, this includes fireproof coatings, fire-resistant barriers, and fire doors.
Passive Fire Protection Solution Market Share
A sizable market for passive fire protection solutions is found in North America, which includes the United States and Canada. Due to the region's stringent fire safety laws and building rules, both residential and commercial construction projects need to use fire-resistant materials and systems. To reduce the danger of fire, sectors including petrochemicals, oil and gas, and manufacturing utilize passive fire prevention techniques.
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By Company
• Carboline
• Leighs Paints
• HILTI
• Rudolf Hensel GmbH
• Sherwin-Williams
• Hempel
• 3M
• Sharpfibre
• Nullifire
• Lloyd Insulations (India) Ltd.
Segment by Type
• Cementitious Material
• Fireproofing Cladding
• Intumescent Coating
• Foams & Boards
• Sealants
• Others
Segment by Application
• Oil & Gas
• Construction
• Industrial
• Warehousing
• Others
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