New Report Examines the Growth of Fire Protection Materials Market Forecast to 2027

Fire protection materials are a class of materials which find use in applications that help ensure safety of buildings from hazards associated with fire. Fire detection, coupled with fire suppression through manual or automatic means, aid in curbing fire and damages resulting therefrom.

Partitioning the overall building or construction structure with fire resistance rated floors and walls also assists in ensuring protection from fire. This could also involve the use of passive fire protection materials, such as fire resistant boards, sealants and fire resistant materials, such as mineral wool and fire proof coatings. Active fire protection materials, such as fire extinguishing foams, chemicals, water and sprays also constitute an important part of fire protection materials market.

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Safeguarding and protection of human life and property are major concerns for construction industry incumbents in regions across the globe. This also stems from the need to avoid costs associated with loss of time and human effort as a result of fire accidents. These factors have been encouraging various industries across sectors to install fire protection systems wherever needed and feasible. This in turn has been translating into an increase in application of and demand for fire protection materials.

Fire protection materials play two vital roles with regard to fire safety applications – fire suppression and fire prevention. Both of these are key to the complete fire safety assurance for a building. Considering these important aspects of applications of fire protection materials, the study of the fire protection materials market becomes an important read.

Fire Protection Materials Market: Key Trends, Drivers

There have been advancements in technology with regard to cost-effective manufacturing of fire protection materials in recent times. Also, there is rapid enhancement in desired properties with advanced features of fire protection materials. Apart from this, various regulatory bodies have imposed strict regulations for implementation of fire safety procedures along with the development of stringent building and safety codes.

These regulations have been making it mandatory for organizations to adhere to fire safety specifications at workplaces, which in turn is expected to further increase the demand for fire protection materials. These factors have been driving the growth of fire protection materials market at a global level and the trend is expected to continue in the near future as well.

However, additional replacement expenses associated with fire protection materials have been discouraging potential buyers. Additionally, inconsistency in the actual implementation of fire safety and prevention procedures in certain regions of the world is proving to be a restraint to the demand and growth in demand for fire protection materials. This, in turn, is proving to be a hindrance to growth of the global fire protection materials market.

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Furthermore, fireproofing of steel structures using water based intumescent paints & coatings and the rising use of carbon fiber reinforced composites requiring reactive insulation coatings for fire protection are the rising trends in the market, which are driving the demand for water based intumescent paint coatings as fire protection materials. Also, oil & gas refineries have witnessed an increase in adoption of fire protection materials in recent times, which has in turn resulted in growth in demand for fire protection materials.

It has been observed that there is a rising demand for fire protection materials, such as fire protection putty, especially in commercial, academic and government building applications, such as universities, offices, schools, restaurants and other buildings. This rise in demand is considerable in both developed countries as well as in emerging economies.

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