Fire Protection Materials Market Overview
The Fire Protection Materials market size is estimated to reach US$4.3 billion by 2027 after growing at a CAGR of 8.8% during the forecast period 2022-2027. Fire Protection Materials possess fire resistance properties which makes them incombustible. They are used in various industrial products such as foams, coatings, sealants and plaster which include gypsum and fibrous and cementitious spray proofing. The thermal resistance nature of fire protection materials is a major contributing factor to their market growth. Furthermore, the growing usage of these materials as foams, sealants and coatings in major sectors like transportation, building & construction, oil & gas and electrical & electronics is also influencing the growth of fire protection materials market. Factors like the bolstering growth of the automotive and building & construction sector and growing consumption of electronic items are boosting the demand for fire protection materials thereby offering major growth opportunities in the fire protection materials industry. However, the potential health effects of fire protection materials could pose a challenge in the market growth, thereby negatively impacting the fire protection materials market size during the forecast period. The COVID-19 pandemic slowed down industrial activities on account of the lockdown implemented on a global scale. Major fire protection materials using sectors like transportation and building & construction saw a drop in their productivity which caused a reduction in demand for fire protection materials resulting in a negative impact on fire protection materials industry outlook.
Fire Protection Materials Market Report Coverage
The “Fire Protection Materials Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Fire Protection Materials market.
By Product Type: Sealants, Coatings, Mortars, Putties, Plasters (Gypsum, Cementitious, Fibrous and Spray Proofing) and Others
By Application: Renovation/ Remodeling Construction Activities, New Construction Activities, Casting Equipments and Others
By End-Use Industry: Transportation (Automotive, Locomotive, Aerospace and Marine), Building & Construction (Residential, Commercial, Industrial and Infrastructural), Electrical & Electronics, Oil & Gas Industry and Others
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East [Saudi Arabia, UAE, Israel and Rest of the Middle East] and Africa [South Africa, Nigeria and Rest of Africa])
Key Takeaways
- Asia-Pacific dominates the Fire Protection Materials industry owing to the flourishing demand for fire protection materials from the transportation and building & construction sector which are rapidly growing in the region.
- Superior properties of Fire Protection Materials such as inhibiting and suppressing the combustion process thereby preventing potential fire spread could drive their demand in the electrical and electronic sector.
- Flourishing growth in fuel-efficient vehicle technologies coupled with growing demand for fuel-efficient vehicles will accelerate the usage of Fire Protection Materials in electric vehicle batteries, thereby positively impacting the fire protection materials industry outlook.
Fire Protection Materials Market Segment Analysis – by Product Type
The coating held the largest share in the Fire Protection Materials market share in 2021 and is forecasted to grow at a CAGR of 8.9% during the forecast period 2022-2027. Fire Protection Materials such as coating are majorly used in sectors like transportation which includes automotive & aerospace and building & construction. As a coating, they provide a protective layer on automotive components and building materials like steel which increases their fire resistance duration and prevents them from disintegrating under heat. Rapid growth in the automotive and construction sector on account of growing investments in them has increased their production output. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2021, global production for light commercial vehicles stood at 18.59 million units, showing 8% in comparison to the 2020 production level. Furthermore, according to Eurostat, in October 2021, production in construction increased by 4.2% in the EU. Such an increase will accelerate the demand for coating products in the automotive and construction sectors thereby contributing to the segment growth.
Fire Protection Materials Market Segment Analysis – by End-Use Industry
Building & Construction held the largest share in the Fire Protection Materials market share and is forecasted to grow at a CAGR of 9.5% during the forecast period 2022-2027. Fire Protection Materials find major applicability in building & construction during remodeling construction activities or new construction activities where they are used as protective coatings or foams on building materials. The building & construction sector is flourishing on account of rapid urbanization, development of architectural sites and government policies for housing construction. For instance, according to Mexico’s National Institute of Statistics and Geography, in Q2 of 2021, the construction industry in Mexico posted a high year-on-year growth rate of 33.8%. Furthermore, according to the Australian Bureau of Statistics, in February 2022, the number of dwellings approved in Australia rose 43.5% with private sector house approvals showing a 16.5% rise. With such a rise in construction activities, the demand for fire protection materials is anticipated to rise for coatings and foams products which are projected to boost the fire protection materials market growth during the forecasted period.
Fire Protection Materials Market Growth Segment Analysis – by Geography
Asia-Pacific held the largest share in the Fire Protection Materials market share in 2021 up to 42%. The fueling demand for Fire Protection Materials is influenced by the continuously growing transportation and building & construction sector in major economies like China, Japan and India. The building & construction sector is growing in the APAC region on account of a growing number of infrastructural projects and affordable house building policies. Whereas, in the transportation sector, the automotive sector on account of the high demand for passenger cars coupled with technological advancements in automotive manufacturing has shown tremendous growth. According to the Ministry of Statistics and Program Implementation, in Q4 of 2020, the Indian construction industry grew by 6.2%. According to Japan’s Ministry of Land, Infrastructure, Transport and Tourism, in June 2021, construction the order for new houses increased to 32.3% compared to 13.4% in the 2020 same month. Furthermore, according to International Organization the Motor Vehicle Manufacturers, in 2021, passenger vehicle production in China stood at 21.5 million units, showing a 7% increase in comparison with the 2020 production level. With the robust growth of building & construction and the automotive sector in Asia-Pacific, the demand for fire protection products like foam, coatings, plaster and gypsum will also accelerate, resulting in positive growth of fire protection materials market.
Fire Protection Materials Market Drivers
Bolstering Growth of Automotive Sector:
Fire Protection Materials such as coatings are used in automotive interiors such as seats and dashboards, while in electric vehicles they provide a protective layer to batteries which prevents them from catching fire on getting heated up. Furthermore, as foam products, fire protection materials have high applicability in manufacturing plants where they are majorly used to prevent fire incidence during the manufacturing process. The automotive sector has shown significant growth on account of high demand for passenger & light commercial vehicles, as well as the setting up of new electric vehicle plants. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2021, global passenger vehicles production stood at 57 million units showing a 2% increase while light commercial vehicles production stood at 18.6 million units showing an 8% increase. Furthermore, US Department Energy, in October 2021, announced the establishment of 13 new electric vehicle plants in Southeast & Midwest locations which will be operational within the next five years. Such growth in the automotive sector will significantly increase the demand for foam and coating products of fire protection materials, thereby positively impacting fire protection materials industry growth.
Growing Consumption of Electronic Items:
Electronic products consist of components such as semiconductors, circuit boards, transformers and batteries that are considered to be potential ignition sources. Fire Protection Materials are majorly used during the casting process of these components to prevent small ignition from turning into bigger fire scenarios. The electrical & electronics sector on account of the flourishing demand for electrical devices and consumer electronics like smartphones, television and PCs, has grown rapidly. For instance, according to the India Brand Equity Foundation (IBEF), the electronics manufacturing industry in India is projected to reach US$520 billion by the year 2025. Furthermore, according to World Semiconductor Trade Statistics, in 2021, global semiconductor industry sales totaled US$555.9 billion in 2021, showing an increase of 26.2%. With such an increase in electronic production and sales of semiconductors, the demand for fire protection materials for casting applications will also increase. This will provide growth opportunities for the fire protection materials industry.
Fire Protection Materials Market Challenge
Negative Health Effects of Fire Protection Materials:
Fire Protection Materials though have high industrial applicability but negative health effects caused by their consumption could pose a major challenge in the growth of the fire protection materials industry. Improper handling of plaster such as gypsum could lead to workers getting exposed to such items which would result in a series of serious health effects ranging from coughing, sneezing and skin & eyes irritation to nosebleed and upper respiratory problems. The negative health effects of gypsum plaster could limit their usage in certain industrial sectors such as building & construction, thereby negatively impacting the fire protection materials market size during the forecast period.
Fire Protection Materials Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Fire Protection Materials market. Top 10 companies in the Fire Protection Materials Market are:
- Hilti Group
- 3M Company
- Trelleborg
- Henkel
- Morgan Advance Materials
- Azko Nobel NV
- BASF
- Isolatek International
- Rockwool International A/S
- Sherwin Williams Company
Recent Developments
- In May 2022, Henkel launched two new fire protection coating products Loctite EA 9400 and Loctite FPC 5060 which the company has designed to protect electric vehicle batteries against heat and fire in case of a thermal runaway event.
- In July 2021, Trelleborg launched its new lightweight fire-resistant material which could be flame resistant to 1500°C for up to seven hours and has cryogenic performance rated -192°C.
- In July 2021, Perimeter Solutions Acquires Magnum Fire & Safety System which is a manufacturer of firefighting foam equipment and the acquisition will expand the company’s ability in globally develop fire-resistant foam.
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Report Code – CMR 18970
Report Code – CMR 35491
Report Code – CMR 99572
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