Posted by Global Passive Fire Protection Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Passive Fire Protection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global passive fire protection market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global passive fire protection market size reached US$ 4.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.
Passive fire protection is a crucial aspect of building design and construction that focuses on reducing the spread of fire and its associated hazards within a structure. It relies on the use of non-combustible materials, structural elements, and fire-resistant barriers to contain and control the progression of fire. It contrasts with active fire protection systems like fire alarms and sprinklers, which are designed to actively suppress or detect fires. It can prevent the rapid spread of flames, limiting the extent of damage and providing occupants with more time to evacuate safely. It also helps control the spread of smoke, maintaining clear escape routes and improving visibility for occupants. It can maintain the structural integrity of a building during a fire, reducing the risk of injuries or fatalities among occupants and firefighters. It assists in achieving lower insurance premiums, as insurers recognize the reduced risk of fire-related damage and offer more favorable terms to property owners who invest in such protective measures. As it requires less maintenance compared to active systems like sprinklers, which need regular inspections and testing, resulting in cost savings, the demand for passive fire protection is rising across the globe.
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Global Passive Fire Protection Market Trends and Drivers:
At present, the implementation of strict building codes and regulations that require the incorporation of passive fire protection measures in construction projects represents one of the key factors supporting the growth of the market. Governments and regulatory bodies around the world are recognizing the importance of fire safety, leading to the application of more rigorous standards. Besides this, rapid urbanization and growing population is leading to a rise in the demand for building and infrastructure development with passive fire protection solutions, which is stimulating the growth of the market. In addition, the increasing awareness among building owners, architects, and engineers about the devastating consequences of fires is leading to a higher focus on fire safety. This awareness is resulting in a proactive approach to fire protection, with stakeholders actively seeking solutions to mitigate risks, which is catalyzing the demand for passive fire protection around the world. Apart from this, advancements in fire-resistant materials and technologies are expanding the range of passive fire protection solutions. These innovations enhance the efficiency and effectiveness of fire protection measures, providing improved fire containment and smoke control capabilities. Moreover, insurers often offer reduced premiums to property owners who implement robust fire safety measures, including passive fire protection. This financial incentive encourages property owners to invest in fire-resistant materials and systems, which is strengthening the growth of the market. In line with this, the growing demand for passive fire protection solutions in industries, such as petrochemicals, manufacturing, and oil and gas, due to high-risk environments for fire incidents is positively influencing the market. Additionally, the increasing demand for environment friendly fire-resistant materials and systems that meet sustainability criteria is bolstering the growth of the market.
Global Passive Fire Protection Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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, The Sherwin-Williams Company, etc.
The report segmented the market on the basis of region, product, application and end user.
Breakup by Product:
- Cementitious Materials
- Intumescent Coatings
- Fireproofing Cladding
- Others
Breakup by Application:
- Structural
- Compartmentation
- Opening Protection
- Firestopping Material
Breakup by End User:
- Oil and Gas
- Construction
- Industrial
- Warehousing
- Others
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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- 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.
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