The global fire stopping materials market size is expected to reach USD 3.80 billion by 2030 according to a new study by Polaris Market Research. The report “Fire Stopping Materials Market Share, Size, Trends, Industry Analysis Report, By Type (Coatings, Mortar, Sealants & Fillers, Sheets/Boards, Spray, Preformed Device, Putty, Cast-In Devices, and Others), By Application (Commercial, Industrial, and Residential); By Industry; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The primary factors for the industry growth are such as the implementation of fire safety regulations, tied with the deployment of mandatory building codes. Besides, growing responsiveness by the population for fire safety, as well as increasing investments in the construction of offices, government buildings, hospitals, and educational institutions, is the major factor that may stimulate the industry demand globally in the approaching years.
Based on the type, the sealants & fillers segment is dominating the global industry with the highest revenue shares because of the rising adoption of these protection materials in steel infrastructure. Whereas the putty segment is showing the highest CAGR rate that leads the industry demand. Putty offers high plasticity, has a comparable texture to dough or clay, and is highly used in seal gaps during construction. In addition, it presents complete protection against the dispersion of smoke and flames at the time of a fire accident. Thereby, these properties may accelerate the segment demand over the forthcoming years.
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The increasing demand for fire-stopping materials, chiefly in emerging countries, is projected to grow over the impending period. The rising construction activities are creating a high demand for the flames-stopping materials owing to the growing awareness for the safety of their families & workforce. In addition, escalating disposable incomes leads the consumers to purchase luxurious properties in skyscrapers and high buildings that are fully equipped with all the safety standards and flame-resistant essentials. Furthermore, the growth of the oil and gas industry is also propelling the demand for flame-stopping materials because the stringent regulatory framework by the government is also associated with the market demand. Therefore, these factors are further accelerating the flame-stopping materials industry demand across the globe.
Industry participants such 3M, Basf, Encon Insulation Ltd., Akzo Nobel NV, Etex, Everkem Diversified Products, Isolatek International, Hilti Group, Morgan Advanced Materials, Knauf Insulation GMBH, Rpm International Inc., Sika AG, Specified Technologies Inc, Supremex Equipments, Tenmat LTD., Walraven are some of the key players operating in the global market.
Various market players are launching new products in the global market for strengthening their market position. For instance, in July 2021, Trelleborg introduces new lightweight fire-resistant material as part of its continuing agreement with CFP Composites to create Soteria FR1500, which is accessible across Europe.
Polaris Market Research has segmented the fire stopping materials market report on the basis of type, application, industry, and region:
Fire Stopping Materials, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Sealants & Fillers
- Preformed Device
- Cast-In Devices
Fire Stopping Materials, Application Outlook (Revenue – USD Billion, 2018 – 2030)
Fire Stopping Materials, Industry Outlook (Revenue – USD Billion, 2018 – 2030)
- Building & construction
- Oil & gas
Fire Stopping Materials, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa