The Business Research Company’s report on the Fireproofing Materials Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the fireproofing materials market further?
The rising number of fire accidents is significantly contributing to the growth of the fireproofing materials market. Fire accidents are accidents caused by a fire that is unexpected and sudden. Fire accidents can result in serious injuries and damage to properties. The increase in the fire accident rate is creating demand for fireproofing materials by various end-use industries. For instance, in April 2024, according to the GOV. UK-a UK-based website of government services and information published that in December 2023, there were 269 fire-related fatalities across 250 fatal fires, an increase from the previous year, which recorded 257 fatalities in 238 fatal fires. Therefore, the rising number of fire accidents is driving the growth of the fireproofing materials market.
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What are the key factors influencing the forecasted market size of the fireproofing materials industry?
The fireproofing materials market size has grown rapidly in recent years. It will grow from $1.21 billion in 2024 to $1.39 billion in 2025 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to compliance with building regulations, increased high-rise construction, increased fire safety awareness, increased industrial and commercial development, insurance industry requirements.
The fireproofing materials market size is expected to see rapid growth in the next few years. It will grow to $2.49 billion in 2029 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to increasing climate change adaptation, increasing advanced fire-resistant coatings, increasing infrastructure development, growing retrofitting existing buildings, high-performance insulation. Major trends in the forecast period include sustainable and eco-friendly fireproofing, smart fireproofing systems, innovative fireproofing materials, data center and critical infrastructure protection, regulatory compliance and certification.
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Who are the leading competitors in the fireproofing materials market?
Major companies operating in the fireproofing materials market include 3M Company, Akzo Nobel N.V., BASF SE, Etex Group, FlameOFF Coatings Inc., Intumescent Systems Ltd., Isolatek International, Jotun Group, PK Companies, PPG Industries Inc., ROCKWOOL International A/S, RPM International Inc., Sika Services AG, Albi Protective Coatings, Alsey Refractories Co., Carboline Pvt. Ltd., Chartek New Zealand, Firetherm Ltd., Flame Control Coatings, Grace Construction Co., Hempel AS, Hilti Corp., International Fireproof Technology Inc., Leighs Paints Co. Ltd., Monokote, Nullifire Ltd., Promat International, Pyro-Cote Corporation, Sherwin-Williams Co., Specified Technologies Inc.
Which emerging trends are set to transform the fireproofing materials market landscape?
New product launches are the key trends gaining popularity in the fireproofing materials market. New product launches help to increase the safety of users from the fire. Major companies operating in the fireproofing materials sector are focused on developing advanced fireproofing materials to strengthen their position in the market. For instance, in April 2022, Henkel AG & co. KGaA, a Germany-based consumer goods and chemicals company introduced new fire protection products for safer EV batteries, Loctite EA 9400 and Loctite FPC 5060. The coatings serve to prevent and impede the spread of fires when applied to battery packs, protecting the passengers as they flee the vehicle. Manufacturers can continue to optimize battery production while maintaining safety thanks to their effective and affordable application techniques.
How do different geographies compare in terms of market share and growth potential in the fireproofing materials market?
North America was the largest region in the fireproofing materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the fireproofing materials market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Which major segments of the fireproofing materials market are experiencing the fastest growth?
The fireproofing materials market covered in this report is segmented –
1) By Type: Intumescent Coatings, Thin Film, Thick Film
2) By Substrates: Metal, Wood
3) By Technology: Solvent-Borne, Water-Borne
4) By End-User: Energy And Power, Manufacturing, Oil And Gas, Petrochemical, Transportation And Logistics Industries, Other End-Users
Subsegments:
1) By Intumescent Coatings: Water-Based Intumescent Coatings, Solvent-Based Intumescent Coatings
2) By Thin Film: Thin Film Fire-Resistive Coatings, Spray-Applied Thin Film Coatings
3) By Thick Film: Cementitious Thick Film Coatings, Spray-Applied Thick Film Coatings
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How is the fireproofing materials market defined, and what are its core characteristics?
Fireproofing materials are substances applied to structures, surfaces, or materials to prevent or slow down the spread of fire and provide fire resistance. These materials are designed to maintain the integrity of a structure during a fire by insulating it from extreme heat and flames, thereby preventing or delaying structural failure.
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