Fire Protection Materials Market to experience an impressive growth of 8.5% during 2020-2025
January 28, 2020
Fire Protection Materials Market is likely to witness an impressive CAGR of 8.5% during the forecast period. Expanding construction & infrastructure industry along with the implementation of stringent regulations & codes are the major factors that are expected to drive the fire protection materials market globally.
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Fire Protection Materials Market Segment Insights:
By Product Type:
Based on the product type, the market is segmented as sealants & fillers, mortar, sheets/boards, sprays, preformed devices, putty, cast-in devices, and others. The sealants & fillers segment dominated the fire protection materials market. However, the fire protection putty segment is estimated to register the highest growth during the forecast period.
By Application Type:
Based on the application type, the market is segmented as commercial, industrial, and residential. The commercial segment is expected to witness the highest growth during the forecast period owing to the stringent regulations and policies regarding fire safety in organizations, such as schools, hospitals, hotels, and museums.
By Region:
In terms of regions, North America led the market for fire protection materials and is expected to remain dominant during the forecast period. Europe is the second-largest market after North America. Revival of construction industry in North America and Europe after sub-prime crises and Euro debt crises along with the implementation of stringent regulations and codes regarding fire safety are the major factors driving the demand for fire protection materials in these regions. Asia-Pacific is expected to be the fastest-growing market for fire protection materials during the forecast period. China, India, and South Korea are the growth engines of the region. Significant economic development in the region, rising urbanization, and increasing disposable income of consumers are the major factors driving the growth of the Asia-Pacific region in the global fire protection materials market.
Key Players:
Some of the major players in the fire protection materials market are Hilti Corporation, The 3M Company, Akzo Nobel N.V., Morgan Advanced Materials, Specified Technologies Inc., Tremco Incorporated, BASF SE, Isolatek International, USG Corporation, Hempel Group, PPG Industries Inc., Fire Protection Coatings Limited, and The Sherwin-Williams Company.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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