Fire Protection Materials Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 7.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Fire Protection Materials Market Analysis
The market for fire protection materials is expected to register a CAGR greater than 7% during the forecast period.
Due to the production suspension and large construction project postponement all over the world, COVID-19 had a severe effect on the fire protection material market. Nevertheless, the industry's demand for fire protective coatings is anticipated to increase with the expanding building market following the pandemic.
- Increased industrialization and the use of cementitious and intumescent coatings are expected to enhance the market growth.
- On the flip side, the technical challenges of passive fire protection products are expected to hinder the studied market's growth.
- During the projected period, it is anticipated that the growing use of electrical products, whether in buildings or electric vehicles, will provide an opportunity for market growth.
- Asia-Pacific region dominated the market for fire protection products. However, North America is anticipated to register the greatest CAGR during the forecast period.
Fire Protection Materials Market Trends
This section covers the major market trends shaping the Fire Protection Materials Market according to our research experts:
Commercial Application to dominate the market
- Many business structures can benefit from fire protection materials for safety reasons. Commercial buildings use fire protection elements to preserve "compartmentation," ensuring that a fire in one area won't spread to another. Passive fire prevention materials can be applied to floors, ceilings, roofs, and walls to offer the best safety level.
- According to the European Public Real Estate Association, Germany, the United Kingdom, and France includes the largest commercial real estate markets, worth approximately USD 4.8 trillion as of December 2022. Germany had an enormous share value of commercial real estate in Europe in 2022, with a total value of approximately USD 1.8 trillion, followed by the United Kingdom and France.
- The Asia-Pacific region witnessed significant investments in the commercial sector for a long time. According to the National Bureau of Statistics of China, real estate developers in China invested CNY 597.4 billion (~USD 93 billion) in office buildings across the whole year of 2021, a drop of around CNY 52 billion (~USD 8 billion) compared to the previous year. Moreover, the Indian Brand Equity Foundation (IBEF) also stated in its report that a total of USD 704 million had been invested in the real estate sector in India in the second quarter of 2022.
- Several significant businesses also boosted their investments in the commercial construction sector. For instance, the 2025 World Expo will be held in Osaka. Recovery from natural calamities and redevelopment are the main forces behind the construction. A 37-story, 230m-tall office skyscraper and a 61-story, 390m-tall office tower are two high-rise towers for Tokyo Stations expected to be finished in 2021 and 2027, respectively.
- Also starting in the fourth quarter of 2021 and scheduled to be finished in the fourth quarter of 2025 is the Toblerone Mixed-Use Towers project in London, United Kingdom. The USD 662 million projects is anticipated to transform the 1993-built Department of Health offices, Keyworth Street Hostel for the Homeless, Perry Library at London South Bank University, and Skipton House.
- In the Middle East, several government initiatives to bolster commercial sector development, such as Saudi Arabia Vision 2030 and Abu Dhabi Economic Vision 2030, are likely to substantially contribute to driving fire protection material consumption.
- Several other commercial real estate construction projects are underway all across the globe, which would, in turn, increase the demand for fire protection materials in the market for safety purposes.
North America to Witness the Fastest Growth
- North America is considered the most dominating fire protection materials market region, owing to its foothold in the construction industry. The United States boasts a colossal construction sector with over 7.6 million employees. The United States construction sector significantly contributes to the country's economy by playing a prominent role in commercial, industrial, institutional, residential, and infrastructure construction.
- According to the US Census Bureau, the United States spent USD 1,809.8 billion on construction-related costs in December 2022. The construction sector increased by about 7.7% between December 2022 and December 2021, when the total amount spent was USD 1,681.0 billion. The market for fire protection materials would subsequently be benefited from this.
- As of December 2022, the total construction value put in place according to the seasonally adjusted rate in the commercial sector was about USD 129 billion, 20% more than the previous year's value for the same period.
- According to the Bureau of Economic Analysis, the value added at the seasonally adjusted annual rates by the overall real estate industry in the first three quarters of 2022 was close to USD 6 trillion. The third quarter of 2022 contributed around USD 2.9 trillion to the overall value created by the real estate sector.
- According to the American Institute of Architects, overall non-residential building construction in the United States is expected to grow to 3.1% in 2022. The construction of hotels is expected to rise by 8.8% in 2022, and office spaces by 0.1%.
- Even in Canada, the overall value of building permits grew by 11.9% to USD 12.5 billion in August 2022, according to Statistics Canada. Residential construction intentions increased by 12.0%, while non-residential construction intentions increased by 11.8%. It is, hence raising the nation's need for fire protection materials.
- All the abovementioned factors will likely drive market growth in the North American region.
Fire Protection Materials Industry Overview
The fire protection materials market is partially consolidated at the top. Some players (not in any particular order) include 3M, BASF SE, AkzoNobel N.V., PPG Industries, Inc, and Hempel A/S.
Fire Protection Materials Market Leaders
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3M
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Akzo Nobel N.V.
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BASF SE
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Hempel A/S
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PPG Industries, Inc
*Disclaimer: Major Players sorted in no particular order
Fire Protection Materials Market News
- June 2022: Hempel A/S announced the launch of its protection material for the hydrocarbon PFP segment. Hempafire XTR 100 is a lightweight coating with low dry film thickness that will be used for the hydrocarbon passive fire protection of oil and gas downstream assets.
- April 2022: Henkel announced the launch of two new fire protection coating products: Loctite FPC 5060 and Loctite EA 9400, which the company manufactured to protect electric vehicle batteries against fire and heat in the event of a thermal runaway. As stated, when applied to battery packs, the coatings would help to inhibit and delay the spread of fires to protect the passengers, thus giving them time to evacuate the vehicle.
Fire Protection Materials Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Report
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increased Industrialization and Increased Use of Cementitious and Intumescent Coatings
4.1.2 Other Drivers
4.2 Market Restraints
4.2.1 Technical Challenges of Passive Fire Protection Products
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Patent Analysis
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Material Type
5.1.1 Coatings
5.1.2 Sealants and Fillers
5.1.3 Mortar
5.1.4 Sheets/Boards
5.1.5 Sprays
5.1.6 Putty
5.1.7 Preformed Devices
5.1.8 Other Material Types (Carbon Foam, etc.)
5.2 Application
5.2.1 Commercial
5.2.2 Industrial/Institutional
5.2.3 Residential
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Netherlands
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Tier Analysis
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 3M
6.3.2 AkzoNobel N.V.
6.3.3 BASF SE
6.3.4 Contego International Inc.
6.3.5 Etex Group
6.3.6 Fire Protection Coatings Ltd
6.3.7 Hempel A/S
6.3.8 Hilti Group
6.3.9 Isolatek International
6.3.10 Morgan Advanced Materials
6.3.11 PPG Industries Inc.
6.3.12 RectorSeal
6.3.13 Sika AG
6.3.14 The Sherwin-Williams Company
6.3.15 Tremco CPG Inc.
6.3.16 USG Corporation
6.3.17 W. R. Grace & Co.-Conn.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Use of Electric Products in Buildings and Electric Vehicles
Fire Protection Materials Industry Segmentation
Fire protection materials are the kind of materials in various forms used in different applications and construction projects to protect them from flammable and non-flammable fires. The fire protection materials market is segmented by material type, application, and geography. By material type, the market is segmented into coatings, sealants and fillers, mortar, sheets and boards, sprays, putty, preformed devices, and other material types. By application, the market is segmented into commercial, industrial/institutional, and residential. The report also gives the market size and forecasts for 15 countries across major regions. The report offers the market size and forecasts in revenue (USD million) for all the above segments.
| Material Type | |
| Coatings | |
| Sealants and Fillers | |
| Mortar | |
| Sheets/Boards | |
| Sprays | |
| Putty | |
| Preformed Devices | |
| Other Material Types (Carbon Foam, etc.) |
| Application | |
| Commercial | |
| Industrial/Institutional | |
| Residential |
| Geography | |||||||
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Fire Protection Materials Market Research FAQs
What is the current Fire Protection Materials Market size?
The Fire Protection Materials Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Fire Protection Materials Market?
3M, Akzo Nobel N.V., BASF SE, Hempel A/S and PPG Industries, Inc are the major companies operating in the Fire Protection Materials Market.
Which is the fastest growing region in Fire Protection Materials Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fire Protection Materials Market?
In 2024, the Asia Pacific accounts for the largest market share in Fire Protection Materials Market.
What years does this Fire Protection Materials Market cover?
The report covers the Fire Protection Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fire Protection Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fire Protection Materials Industry Report
Statistics for the 2024 Fire Protection Materials market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Fire Protection Materials analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
