The Passive Fire Protection Materials Market for Construction is forecast to reach USD 8.62 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the construction sector for the use of Passive Fire Protection Materialss, as they delay the spread of flames, toxic fumes, and smoke, and give ample amount of time to carry-on with the evacuation methods. However, due to the use of costly raw materials, the high prices of fire safety materials are steadily arising the need for exploring and adopting other products as a substitute to reduce the overall cost of the operation and hence, will be hampering the market demand.
Rapid urbanization has changed the way of life of individuals and, thus, has expanded the pervasiveness of the construction sector for commercial purposes over a broad aspect; therefore, augmenting the demand for the market product. Furthermore, intensive research and development increase the cost of the final product, which makes the materials expensive to a considerable section of consumers, and hence is anticipated to hinder the growth of the market.
For More Information | Request a Sample Copy @ https://www.reportsanddata.com/sample-enquiry-form/3179
Key participants include 3M, BASF Coating GmbH, Nippon Paint Co. Ltd., Hempel A/S, Pilkington Group Ltd., PPG Industries Inc., Morgan Advanced Materials, Hilti, Akzo Nobel N.V, and Rectorseal, among others.
The use of the Passive Fire Protection Materials is supported by the Ministry of Science Technology, Directorate General Civil Defence Fire Services (DGCD), Ministry of Commerce and Industry, and International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), of the Indian Government, thereby boosting the demand for the product in the market. The Central Institute of Plastic Engineering and Technology (CIPET) has signed a Memorandum of Understanding (MoU) with the Government of Karnataka to establish an Advanced Polymer Design and Development Research Laboratory in Bengaluru, which would also help India tackle various global issues such as the need for flame retardant polymers, lightweight components and high-performance coatings for multiple industries. Scientists at China's University of Science and Technology have produced a new fire-retardant building material that can withstand flames of about 1,300 degrees Celsius without disintegration. A research team has developed a composite aerogel with low thermal conductivity and excellent resistance to fire. The composite is highly durable, porous, and displays better fire-resistance than current insulation materials, such as expanded polystyrene and glass wool. Moreover, other nations such as China, Japan, and the United States are also supported by their respective government, which help them to withhold their position in the market, raising the potential to increase the expenditure in the Passive Fire Protection Materials sector.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/fire-protection-material-market
Further key findings from the report suggest
- Based on type, Sealants accounted for the largest share of around 28.0% of the overall business in 2019. They can be used where joints in walls have a high potential for movement, which is one of the main benefits.
- Based on end-use, Passive Passive Fire Protection Materialss generated revenue of USD 2.86 billion in 2019. It helps to minimize the amount of damage done to a building giving its inhabitants more time to evacuate by providing dampers for fire doors and firewalls/floors, which prevents fire/smoke from spreading through the ductwork in the house.
- Commercial construction accounts for the largest application category in the market and held around 52.0% of the overall business in 2019 due to increased fire safety regulations and stringent building codes enforced in the construction of offices, shopping centers, malls, hospitals, colleges, schools, universities, and hotels.
- The Asia Pacific dominated the market in 2019. The consistent focus of the region on cost-effective and innovative procedures adopted in the area is driving the market. The Asia Pacific region holds approximately 35.0% of the market, followed by Europe, which contains around 27.0% market in the year 2019.
Download Report Summary @ https://www.reportsanddata.com/download-summary-form/3179
For the purpose of this report, Reports and Data have segmented into the global Passive Fire Protection Materials Market for Construction on the basis of type, end-use, application, and region:
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Sealants
- Mortar
- Spray
- Sheets/Boards
- Putty
- Others
End-Use Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Active Passive Fire Protection Materialss
- Passive Passive Fire Protection Materialss
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Residential
- Commercial
- Industrial
Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/3179
Thank you for reading our report. To know more about the customization feature, please get in touch with us and our team will ensure the report is customized as per your requirements.
Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:
Splicing Tapes Market @ https://www.reportsanddata.com/press-release/global-splicing-tapes-market
Diamond Coatings Market @ https://www.reportsanddata.com/press-release/global-diamond-coatings-market
Adhesive Film Market @ https://www.reportsanddata.com/press-release/global-adhesive-film-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
