Fire Protection Materials Market To Achieve A High CAGR Of 8.4% By 2025: Key Industry Players Sika AG, BASF SE, Hilti
San
Francisco, 28 September 2018 - The global fire protection materials for construction market size
is expected to reach USD 8.10 billion by 2025, according to a new report by
Grand View Research, Inc., projecting an 8.4% CAGR during the forecast period.
The market is anticipated to grow with the implementation of fire safety
regulations and strict building codes. There are also various official
standards established to overlook and ensure product effectiveness. In
addition, rising awareness among people toward fire safety is anticipated to
trigger market growth.
According to the latest report by National Fire
Protection Association (NFPA) published in 2016, fire incidents kill at last
seven people each day in U.S. alone. Fire protection materials have gained high
popularity as they effectively prevent the spread of fire from one area to the
other. These materials can withstand fire for a long time. As a result,
firefighters can control the fire and prevent loss of life and property by
extending the time frame available during such situations.
Improving attitude toward building safety codes,
along with increasing fire hazard incidents, is anticipated to boost sales of
fire protection materials around the globe. These materials have immense growth
potential and can partially replace traditional construction materials such as
sealants, putty, and coating sprays.
Key manufacturers constantly focus on high-end
research and technological advancements to produce improved fire protection
materials that can withstand fire for a longer duration and produce less smoke
when burnt.
Full
Research Report On Global Fire Protection Materials Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/fire-protection-materials-market
www.grandviewresearch.com/industry-analysis/fire-protection-materials-market
Further
key findings from the report suggest:
- By type, putty is expected to be the fastest-growing
segment, in terms of revenue, exhibiting a CAGR of 9.3% from 2017 to 2025.
Sealants, on the other hand, formed the largest segment in terms of
revenue in 2016 owing to its growing usage as a primary fire protection
material in steel infrastructure
- Commercial construction is projected to emerge
as the largest as well the fastest growing application segment on account
rising fire safety regulations and strict building codes for offices,
shopping centers, malls, hospitals, schools, colleges, universities, and
hotels
- Asia Pacific is expected to be the fastest
growing region with an estimated CAGR of 10.4% from 2017 to 2025. Rising
manufacturing industries with support from the government in the form of
incentives and subsidies and rapidly growing population have fostered
market growth
- Implementation of strict fire safety
regulations, coupled with high disposable income and awareness among
public toward fire safety, has made North America the largest consumer of
fire protection materials for construction
- Parameters such as stability of a structure in
case it is exposed to fire are taken into consideration while developing
new products.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global fire protection materials
market for construction on the basis of type, application, and region:
Fire
Protection Materials for Construction Type Outlook (Revenue, USD Million, 2014
- 2025)
- Sealants
- Mortar
- Spray
- Sheets/Boards
- Putty
- Others
Fire
Protection Materials for Construction Application Outlook (Revenue, USD
Million, 2014 - 2025)
- Residential
- Commercial
- Industrial
Fire
Protection Materials for Construction Regional Outlook (Revenue, USD Million,
2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- U.K.
- France
- Asia
Pacific
- China
- Japan
- India
- South
Korea
- Middle
East & Africa
- UAE
- Central
& South America
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-fire-protection-materials-market
www.grandviewresearch.com/press-release/global-fire-protection-materials-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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