Global Fireproofing Materials Market Analysis 2024: Size Forecast and Growth Prospects

Market Size –
The fireproofing materials market size has grown rapidly in recent years. It will grow from $1.05 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. 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 $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. 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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Scope Of Fireproofing Materials Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Fireproofing Materials Market Overview

Market Drivers –
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, according to the National Fire Protection Association, the local fire departments of the US encountered 1.4 million fires i.e., every 23 seconds in 2021. Therefore, the rising number of fire accidents is driving the growth of the fireproofing materials market.

 

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

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Regional Insights –
North America was the largest region in the fireproofing materials market in 2023. 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.

Key Companies –
Major companies operating in the fireproofing materials market include Minnesota Mining and Manufacturing 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.

Table of Contents
1. Executive Summary
2. Fireproofing Materials Market Report Structure
3. Fireproofing Materials Market Trends And Strategies
4. Fireproofing Materials Market – Macro Economic Scenario
5. Fireproofing Materials Market Size And Growth
…..
27. Fireproofing Materials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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