Passive Fire Protection Market to be driven by technological advancements in the forecast period of 2020-2027 | Grand View Research, Inc.

October 20 01:10 2021
Passive Fire Protection Market to be driven by technological advancements in the forecast period of 2020-2027 | Grand View Research, Inc.
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According to a new report published by Grand View Research, increasing investments in the exploration and production activities by oil and gas companies, coupled with technological advancements in the sector, is expected to fuel market growth from 2020 to 2027

The global passive fire protection market size is expected to reach USD 5.51 billion by 2027, expanding at a CAGR of 4.7% from 2020 to 2027, according to a new report by Grand View Research, Inc. The increasing adoption of fire-stopping materials in the residential and commercial infrastructure is expected to drive the market.

Increasing demand for early fire detection and the need to prevent the spread of fire, thereby minimizing the asset loss, have boosted the installation of fire protection systems. Rising disposable income, coupled with increased spending capacities, has increased the number of upscale residential projects, thereby driving the demand for passive fire protection.

Rising investments by the oil and gas companies in exploration and production activities and stringent regulations to make the drilling sites fire safe are anticipated to fuel the market growth. Increasing penetration of steel in the manufacturing and energy sectors for structure fabrication owing to rising concerns over preventing structural damage is expected to complement the market growth.

Rapid growth in asset protection investment in case of fire hazards, coupled with infrastructural growth across various countries, is anticipated to drive the product demand. Increasing emphasis on the governments of various countries to improve the safety standards in industries, along with enforcement of stringent regulations, is likely to propel product demand.

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Passive Fire Protection Market Report Highlights

• By product, fireproofing cladding accounted for 21.1% share of the overall revenue in Europe in 2019 owing to the ability of the product to restore the fire rating of the buildings by sealing the openings and gaps, coupled with increased restoration activities in the region

• By application, the construction sector is estimated to witness the fastest growth from 2020 to 2027 on account of rising urbanization, infrastructure renewal, and globalization

• The Middle East and Africa is estimated to expand at a CAGR of 4.5% from 2020 to 2027 on account of the new construction projects, including museums, hotels and resorts, and headquarters of multinational corporations in the region

• China accounted for 31.4% share in the Asia Pacific market in 2019 owing to rising research & development investments by the oil and gas companies in the country, coupled with the growing demand for LNG/CNG/gas production

• Key manufacturers focus on research & development activities to develop new technologies for the manufacturing of products in an attempt to gain a competitive edge in the market.

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Passive Fire Protection Market Segmentation

Grand View Research has segmented the global passive fire protection market on the basis of product, application, and region:      

Passive Fire Protection Product Outlook (Revenue, USD Million, 2016 – 2027)             

    • Cementitious Materials                           

    • Intumescent Coatings

    • Fireproofing Cladding

    • Others

Passive Fire Protection Application Outlook (Revenue, USD Million, 2016 – 2027)    

    • Oil & Gas

    • Construction

    • Industrial         

    • Warehousing

    • Others                                                                               

Passive Fire Protection Regional Outlook (Revenue, USD Million, 2014 – 2025)

     • North America       

        • U.S.

        • Mexico

        • Canada

     • Europe

        • Germany

        • U.K.

        • Spain

        • Italy

        • France

        • Russia

     • Asia Pacific

        • China

        • India

        • Japan

        • Malaysia

        • Thailand

        • South Korea

     • Central & South America

        • Brazil

        • Argentina

     • Middle East & Africa

        • United Arab Emirates

        • Saudi Arabia

List of Key Players of Passive Fire Protection Market

    • 3M

    • PPG Industries, Inc.

    • Etex

    • The Sherwin-Williams Company

    • Rotarex

    • Specified Technologies, Inc.

    • Marioff Corporation

    • Consilium AB Publ.

    • Contego International, Inc.

    • Tecresa Protection Passive

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Browse More Related Report:

Fire Protection System Market Size, Share & Trends Analysis Report By Product (Fire Detection, Fire Analysis), By Service (Installation & Design, Managed), By Application (Commercial, Industrial), By Region, And Segment Forecasts, 2021 – 2028

About Grand View Research

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients. 

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