Press release
Fire Protection Materials For Construction Market: Major Trends Reshaping the Future of the Industry
Fire Protection Materials For Construction Market
What Will the Fire Protection Materials For Construction Industry Market Size Be by 2025?
The dimensions of the market for fire protection materials in the construction industry have expanded significantly in recent years. The market is expected to increase from $5.02 billion in 2024 to $5.42 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.0%. Factors that contributed to this growth during the previous period include building codes and regulations, improved safety measures and risk mitigation, urban and population growth, heightened demand for commercial and industrial projects, and requirements from the insurance sector.
What's the Long-Term Growth Forecast for the Fire Protection Materials For Construction Market Size Through 2029?
Anticipated robust growth is predicted for the market of fire protection materials for construction in the upcoming years. The market is set to expand to $7.67 billion in 2029 with a compound annual growth rate (CAGR) of 9.0%. The surge during the forecast period can be linked to an escalation in high-rise construction, refurbishing of existing structures, fire-resistant coatings, hikes in fire-resistant insulation, and burgeoning infrastructure development. Notable trends projected over the forecast period are intelligent fire protection systems, advanced high-rise fire safety solutions, improved fire testing, and certification, fire-resistant glass, and bio-based fire protection materials.
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What Are the Key Growth Drivers Fueling the Fire Protection Materials For Construction Market Expansion?
The advancement in the building sector is often indicated by rises in output, revenue, and the sector's overall market size over a certain duration, and is fueled by elements such as need, investment, and technological progress. This advancement in the building sector is propelled by factors like swift urbanization, economic growth, and augmented governmental spending on infrastructure. The inclusion of fire protection materials in construction initiatives not only assures safety but also spurs market development by enhancing property worth, securing regulatory compliance, and propelling the demand for innovative solutions. For instance, Construction Digital, a UK firm that unites all construction brands revealed in June 2023 that the UK's construction sector is predicted to see a 12% increase in 2024, with an additional growth of 3% in 2025. Thus, the escalating regulations are anticipated to trigger the growth of fire protection materials for the building market in the future.
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What Are the Key Trends Driving Fire Protection Materials For Construction Market Growth?
Prominent manufacturers in the construction fire materials market are relentlessly centered on innovative research and enhanced technology development to produce superior fire-resistant materials. These advanced materials are designed to resist fire for an extended duration while minimizing smoke emission upon burning. For example, Hempel A/S, a prominent provider of coating solutions from Denmark, unveiled a new product named Hempafire XTR 100 in June 2022. This product, designed specifically for the hydrocarbon PFP (passive fire protection) segment, is a lightweight coating implemented for passive fire safeguarding of downstream assets in the oil and gas sector, characterized by its low dry film thickness.
How Is the Fire Protection Materials For Construction Market Segmented?
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 Companies Are Leading the Charge in Fire Protection Materials For Construction Market Innovation?
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
Which Regions Are Leading the Global Fire Protection Materials For Construction Market in Revenue?
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.
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