This study intends to unfurl the multiple facets of global fire protection materials market. The insights offered in the report aid in market growth examination during the forecast period.
Soaring Demand for Fire-safe Structures, and Mounting Investments in Passive Fire Safety Solutions Create Tailwinds for Fire Protection Materials Market
The creation of strict safety criteria and construction regulations is expected to propel the usage of these solutions for various projects over the projected period, supporting the growth of fire protection materials market. The market is anticipated to rise due to an increase in large-scale infrastructure investment projects, such as hotels and hospitals, in New York, Missouri, and Los Angeles. The demand for fire-safe buildings, and rising consumer awareness of fire safety have increased investments in passive fire protection systems installed in the construction industry. With an increase in fire incidents and the resulting loss of life and property, most economies are emphasizing the enhancement of passive fire safety features of current and future infrastructure. Additionally, the growth of fire protection materials market is anticipated in the upcoming years according to numerous government criteria developed to monitor and guarantee product effectiveness. Furthermore, the fire protection materials market is projected to grow in the next years due to rising public awareness of the importance of workplace and home safety. The EAPFP, NFPA, and USFA are a few law enforcement organizations collaborating with governments from established and developing regions to guarantee that industries adhere to fire safety standards and regulations.
The fire protection materials market is predicted to have favorable circumstances during the projection period due to the large infrastructure expansions in India, and Indonesia and the rapidly growing construction industry in emerging countries. Particularly in commercial, academic, and government building applications, such as universities, offices, schools, restaurants, and other buildings, it has been observed that there is an increasing demand for fire protection materials, such as fire protection putty, and fire-resistant cables. In affluent nations, and emerging economies, this increase in demand is significant. Numerous businesses have implemented cutting-edge technologies to produce goods that adhere to high-quality criteria set by regulatory bodies. Additionally, major businesses are investing significantly in R&D to launch new and enhanced products on the fire protection materials market. In July 2021, a novel lightweight fire-resistant material with a -192°C cryogenic performance rating was unveiled by Trelleborg. It can endure temperatures up to 1500°C for up to seven hours.
Fire Protection Materials Market: COVID-19 Impact
Industrial activity stalled due to the global lockdown imposed in response to the COVID-19 outbreak. Major industries that utilize fire protection materials, such as transportation and building & construction, experienced a decline in productivity, which reduced the demand for fire protection materials and had a negative effect on the prognosis for the fire protection materials business. The COVID-19 pandemic had far-reaching effects on the world economy and carved a path for severe losses in most global industries. The halted operations and shortage of raw materials also impacted the demand for fire protective materials, particularly in the industrial and commercial sectors. However, the growth of fire protection materials market will be aided by the slow return of commercial activity.
Massive Growth of Automotive Industry Propels Fire Protection Materials Market Growth
Fire protection materials like coatings are utilized in the seats, and dashboards of automobiles. Electric vehicles offer the batteries a protective layer that keeps them from catching fire when heated up. Additionally, because they are foam products, fire prevention materials are widely utilized in manufacturing facilities, where they are primarily employed to prevent fires from occurring during the production process. With the increased demand for passenger and light commercial vehicles, and the establishment of new electric vehicle facilities, the automotive industry has experienced tremendous growth. This development in the automobile industry will support the expansion of the fire protection materials market by increasing demand for foam and coating products.
Increasing Use of Electronic Goods Supports Fire Protection Materials Market Growth
Transformers, batteries, circuit boards, and semiconductors are just a few examples of the parts that make up electronic items that are thought to be possible ignition sources. To avoid smaller fires developing into larger ones, fire protection materials are primarily employed when casting these components. The electrical and electronics sector has expanded quickly with the booming demand for consumer gadgets like cell phones, televisions, and PCs. Along with the growth in semiconductor sales and electronic production, there will be an increase in the need for fire protection materials for casting applications. The fire protection materials market will benefit from growth prospects as a result.
Potentially Adverse Health Effects to Hamper Fire Protection Materials Market Growth
Although fire protection materials have a wide range of industrial applications, the adverse health effects associated with their use could provide a significant obstacle to the industry's expansion. With improper handling, workers exposed to plaster, such as gypsum, could have several negative health impacts, including nosebleeds, upper respiratory issues, skin and eye irritation, and coughing and sneezing. Gypsum plaster's detrimental health impacts might prevent it from being used in some industrial sectors, like building and construction, which would have a negative effect on the growth of the fire protection materials market throughout the projected period.
With Increased Construction Activity, Coating Sector to Dominate Fire Protection Materials Market
According to estimates, coatings dominate market growth. This is because the construction sector uses it for fireproofing. The increase significantly influences the demand for coatings in the building industry in steel use. The global expansion of the construction industry has a significant impact on the fire protection materials market. Protection Against Fire Coatings is commonly utilized in transportation, the automobile and aerospace industries, and building and construction. They serve as a protective layer for steel and other building materials, such as those used in automobiles, which prolongs their fire resistance and keeps them from melting in the presence of heat. The construction and automotive industries have experienced rapid expansion due to rising investments in them, raising their manufacturing output. Eurostat also reports that in October 2021, construction products in the EU climbed by 4.2%. Such an increase will hasten the need for coating materials in the construction and automotive industries, supporting the expansion of the segment in fire protection materials market.
Commercial Sector Dominant in Fire Protection Materials Market with a Major Impetus from Retail Sector
Commercial construction is anticipated to rule the fire protection materials market over the forecasted period. Its implementation is driven by the rising demand for a passive fire protection system and the increased focus on fire safety laws and regulations. Increased capital investment in all types of commercial areas, including hospitals, institutions, education facilities, and workplaces, has increased commercial construction activities. The expansion of the retail sector is crucial for business expansion, and as a result, it will have a big impact on how this market is used for commerce. Throughout the projection period, the industrial and residential segments are anticipated to be driven by Asia Pacific's booming industrial sector and quickly expanding population, particularly in China, and India.
Affordable Housing Upholds Asia Pacific’s Attarctive Position in Fire Protection Materials Market
Asia Pacific accounts for a major portion of fire protection materials market and reportedly gains from the steadily expanding building and construction industry, especially across the key nations, i.e., China, Japan, and India. With an increase in infrastructure projects and legislation encouraging the creation of affordable housing, the building and construction industry is expanding throughout Asia Pacific. As a result of the increased demand for passenger automobiles and technological improvements in the industry, the automotive sector has experienced a remarkable expansion in the transportation industry. The Ministry of Statistics and Program Implementation reports that the Indian construction market expanded by 6.2% in the fourth quarter of 2020. According to a Japanese report, the percentage of new homes ordered for building in June 2021 grew to 32.3% from 13.4% in the same month in 2020. The need for fire protection products such as foam, coatings, plaster, and gypsum will increase along with Asia Pacific's growth in the building and construction, and automotive industries, contributing toward the growth of fire protection materials market in the region.
North America continues to display the highest CAGR in glonal fire protection materials market owing to the significant growth in the production capacity of key companies, and the increasing demand for fire protection materials. With the strict regulatory environment and increasing end-user knowledge of fire safety, passive fire protection products are widely used in the US. The growing number of large-scale infrastructure investment projects, including hotels and hospitals, in New York, Missouri, and Los Angeles, is expected to enhance demand for passive fire prevention technologies in residential, commercial, and industrial buildings across the country. As per the US Census Bureau and the US Department of Dwelling and Urban Development have just released their most current data, which indicates that in February 2022, 1,859,000 construction permits and 1,769,000 housing permits were granted.
Global Fire Protection Materials Market: Competitive Landscape
In May 2022, Henkel, a well-known automotive partner, created Loctite EA 9400 and Loctite FPC 5060, two new protective coating products designed to protect battery housings from heat and fire in the event of a thermal runaway event. The coatings assist contain and impede the spread of flames when applied to battery packs, safeguarding occupants as they exit the vehicle. Loctite EA 9400 and Loctite FPC 5060 are designed for automated mass manufacturing and can be applied by "spray" or "flat stream," and both are compatible with popular automated dispensing systems. In January 2020, Specified Technologies Inc introduced two new E-Wrap systems for fuel pipe protection: the FP-3 and FP-4. These solutions are available to protect fuel oil pipelines. FP-3 is for single containment piping applications, while FP-4 is for double containment piping applications. The testing for the approval of FP-3 and FP-4 followed the UL 1489 "Standard for Fire Tests of Fire Resistant Pipe Protection Systems Carrying Combustible Liquids."
A few of the players in fire protection materials market include 3M, Sherwin-Williams, Tenmat, Rolf Kuhn, Unifrax I, Trelleborg, Rockwool, PFC Corofil, Luco, Signum Fire Protection, and Tyco.
Regional Classification of the Global Fire Protection Materials Market is Listed Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Fire Protection Materials Market
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