The Global
Fire Protection Materials Market was USD 4.20 Billion
in 2016 and is projected to reach USD 6.78 Billion by 2022, at a CAGR of 8.41%
between 2017 and 2022. In this report, 2016 has been considered as the base
year and the forecast period is from 2017 to 2022.
Market Dynamics
Drivers
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Browse 60 Market Data Tables and 51
Figures spread through 133 Pages and in-depth TOC on "Fire
Protection Materials Market"
Market Dynamics
Drivers
- Increasing
fire safety regulations
- Growing
construction industry
Restraints
- Environmental
and health concerns restricting the growth of convectional fire protection
materials
Opportunities
- Developing
more effective synergist compounds
Growing construction
industry
Fire protection
materials are widely used in the construction industry in various forms such as
mortar, putty, sprays, and performed devices. There is high demand for fire
protection materials in the construction industry due to increasing safety
awareness among the people. North America and the Middle East & Africa are
projected to lead the demand for fire protection materials in the construction
industry.
Currently,
various market players, such as Hilti Group (U.S.), 3M (U.S.), Akzo Nobel N.V.
(Netherlands), Morgan Advanced Materials (U.K.), Specified Technologies Inc.
(U.S.), Etex (Belgium), Tremco Incorporated (U.S.), BASF SE (Germany), Isolatek
International (U.S.), USG Corporation (U.S.), Hempel Group (Denmark), PPG
Industries Inc. (U.S.), W.R. Grace & Co. (U.S.), Rolf Kuhn GmbH (Germany),
and Rectorseal (U.S.) are leading the global fire protection materials market.
Currently, North America is the largest
market for fire protection materials, in terms of value, followed by Europe.
Some of the factors driving the growth of the North American fire protection
materials market are stringent regulations and codes related to fire safety,
and growing construction industry, along with the upgradation of existing
buildings.
Asia-Pacific is expected to be the
fastest-growing market for fire protection materials due to high demand for
fire protection materials for industrial and commercial construction. The
presence of major developing nations of the Asia-Pacific, such as China, India,
and South Korea is also a major driver for the fire protection materials market
in the region.
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630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com
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