The global passive fire protection market reached a value of US$ 4.03 Billion in 2021. IMARC Group expects the market to reach US$ 5.38 Billion by 2027.
SHERIDAN, WYOMING, UNITED STATES, April 26, 2022 /EINPresswire.com/ — Passive fire protection (PFP) represents an integral component of any fire strategy that involves dividing the building into compartments to control the spread of fire via fire-resistant walls and floors. It depends on fire doors to further compartmentalize the structures and valves and prevent smoke from spreading. Passive fire protection works without any human intervention or external energy inputs while evacuating people and catering to intervention by emergency services. Moreover, PFP offers numerous advantages, including preventing the progression of fumes, containing thermal effects in the disaster area, maintaining the fire stability of structural elements, etc.
Base Year: 2021
Forecast Year: 2022-2027
The global passive fire protection market reached a value of US$ 4.03 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 5.38 Billion by 2027, exhibiting a CAGR of 4.82% during 2022-2027.
Passive Fire Protection Market Trends and Drivers:
The growing investments in exploration activities in the oil and gas industry are primarily driving the passive fire protection market. Besides this, PFP systems protect steel structures from fire by providing them with enhanced strength and durability, which is further catalyzing the market growth.
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Additionally, the rising awareness among individuals towards the importance of fire safety and the inflating demand for fire-safe buildings are also positively influencing the global market. Apart from this, the expanding construction sector, especially in developing economies, is acting as another significant growth-inducing factor.
Furthermore, the rising usage of fire protection boards in roofing, siding, wall panels, etc., to safeguard people and properties from fire accidents is anticipated to stimulate the passive fire protection market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Passive Fire Protection Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
3M Company, Akzo Nobel N.V., Contego International Inc., Envirograf, Etex Group, Hempel A/S, Isolatek International, Lloyd Insulations (India) Limited, No-Burn Inc., PPG Industries Inc., Sharpfibre Limited and The Sherwin-Williams Company.
The report has segmented the market on the basis of region, product, application and end user.
Breakup by Product:
• Cementitious Materials
• Intumescent Coatings
• Fireproofing Cladding
Breakup by Application:
• Opening Protection
• Firestopping Material
Breakup by End User:
• Oil and Gas
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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