Press release
Fire Protection Materials For Construction Market Poised for 0.0902928663864513 % Growth, Set to Hit $15.35 Billion by 2029
Fire Protection Materials For Construction Market Growth
The expansion of the construction sector is represented by a rise in production, income, and its market size over a certain period, spurred on by elements like demand, investment, and technological progress. It is the acceleration of urbanisation, economic growth, and heightened government spending on infrastructure that propels this. The inclusion of fire safety materials in construction not only assures safety but also helps augment market growth by enhancing property value, ensuring adherence to regulations, and stimulating demand for inventive solutions. For instance, Construction Digital, a firm based in the UK that links all construction brands, reported in June 2023 that the UK's construction industry is predicted to surge by 12% in 2024, with an additional rise of 3% in 2025. Thus, the escalating regulations are anticipated to boost the growth of fire protection materials for the construction market in the future.
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What Is the projected market size and growth rate for the fire protection materials for construction market?
The size of the fire protection materials for construction market has robustly expanded over recent years. The market, initially valued at $5.02 billion in 2024, is projected to escalate to $5.42 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.0%. This historic growth period is credited to factors such as building regulations and codes, improved safety and risk control, growth in urban population, increased demand for commercial and industrial initiatives, and requirements from the insurance industry.
The market size of fire protection materials for construction is forecasted to experience substantial growth in the upcoming years, reaching $7.67 billion in 2029 with a compound annual growth rate (CAGR) of 9.0%. This growth within the forecast period can be credited to the increase in high-rise construction, renovation of current buildings, use of fire-resistant coatings, a rise in fire-resistant insulation, and enhancement in infrastructure development. Some of the defining trends for the forecast period encompass intelligent fire protection systems, fire safety solutions for high-rise buildings, improved fire testing and certification, fire-resistant glass, as well as bio-based fire protection materials.
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What new trends are reshaping the fire protection materials for construction market and its opportunities?
Principal manufacturers involved in the construction industry's fire protection materials market have been consistently concentrating on groundbreaking research and technological progress to make better fire-resistant materials that can withstand fire for an extended time and emit less smoke when burned. For instance, Hempel A/S, a Denmark-based protective coatings producer, announced in June 2022 the unveiling of a new safety material named Hempafire XTR 100 for the Hydrocarbon PFP (passive fire protection) sector. This lightweight layer is specifically designed for the passive fire protection of assets in the downstream of the oil and gas industry, providing a thinner dry film.
What major market segments define the scope and growth of the fire protection materials for construction market?
The fire protection materials for construction market covered in this report is segmented -
1) By Type: Coatings, Mortar, Sealants And Fillers, Sheets Or Boards, Spray, Preformed Device, Putty, Cast-In Devices, Other Types
2) By Application: Structural, Compartmentation, Opening Protection, Firestopping Materials
3) By End User: Commercial, Industrial, Residential, Other End Users
Subsegments:
1) By Coatings: Intumescent Coatings, Cementitious Coatings, Fire Retardant Paints
2) By Mortar: Fire-Resistant Mortar, Cementitious Fire Mortar
3) By Sealants and Fillers: Firestop Sealants, Firestop Fillers
4) By Sheets or Boards: Fire-Resistant Boards, Mineral Wool Boards
5) By Spray: Spray-Applied Fire-Resistive Materials (SFRM), Foam-Based Fire Sprays
6) By Preformed Device: Firestop Collars, Firestop Plugs
7) By Putty: Firestop Putty, Fire-Resistant Sealant Putty
8) By Cast-In Devices: Firestop Cast-In Boxes, Cast-In Fire Protection Devices
9) By Other Types: Fire Blankets, Fire Curtains
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Which region dominates the fire protection materials for construction market?
North America was the largest region in the fire protection materials for construction market in 2024. The regions covered in the fire protection materials for construction market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the fire protection materials for construction industry growth?
Major companies operating in the fire protection materials for construction market include Hilti Corporation, 3M Company, Akzo Nobel N.V., Morgan Advanced Materials plc, Isolatek International Co., Sherwin-Williams Company, Rolf Kuhn GmbH, Specified Technologies Inc., Tremco Incorporated, BASF SE, USG Corporation, Hempel A/S, PPG Industries Inc., Fire Protection Coatings Limited, ETEX SA, Contego International Inc., DowDuPont Inc., Saint-Gobain S.A., The Lubrizol Corporation, W.R. Grace & Co., GCP Applied Technologies Inc., Carboline Company, Nullifire Ltd., Promat International NV, Rudolf Hensel GmbH, Sika AG, Firestone Building Products, GAF Materials Corporation, Johns Manville Corp., Owens Corning Fiberglass Company, CertainTeed Corporation, DuPont de Nemours Inc., Firestone Industrial Products Company LLC, GCP Applied Technologies Inc., Henry Company, National Gypsum Company, Owens Corning India Pvt. Ltd., Rockwool International A/S, Saint-Gobain Weber India Pvt. Ltd., Sto SE & Co. KGaA
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What Is Covered In The Fire Protection Materials For Construction Global Market Report?
•Market Size Forecast: Examine the fire protection materials for construction market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the fire protection materials for construction market for a structured understanding.
•Key Players Overview: Analyze major players in the fire protection materials for construction market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fire protection materials for construction market.
•Segment Contributions: Evaluate how different segments drive overall growth in the fire protection materials for construction market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fire protection materials for construction market.
•Industry Challenges: Identify potential risks and obstacles affecting the fire protection materials for construction market.
•Competitive Landscape: Review strategic developments in the fire protection materials for construction market, including expansions, agreements, and new product launches.
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