Europe passive fire protection market size was USD 1.30 billion in 2014. The market is expected to grow owing to rising demand from warehousing industry on account of increasing use of steel in structure fabrication. In addition, growing emphasis by governments to reduce VOC content in the epoxy based intumescent coatings is expected to accelerate growth. Growing product use in the manufacturing sector to minimize the structural damage and improve the shelf life of the steel is likely to fuel the growth over the forecast period.
Cementitious material based passive fire protection accounts for a significant share in the construction application on account of properties such as superior abrasion, impact resistance, and high thickness achievability in asingle coat with minimal spray rebound. In addition, superior adhesion to avariety of metal substrate surfaces is likely to fuel demand. Increasing demand for water based intumescent coatings on account of superior weather resistance is expected to propel the market over the next seven years.
Rising demand for energy efficient green building infrastructure coupled with growing emphasis on improving the overall fire safety is expected to augment demand for passive fire protection over the forecast period. However, volatile price of epoxy resins owing to fluctuating raw material prices is expected to restrain growth in the near future.
Europe passive fire protection market revenue, by application, 2012 - 2022 (USD Million)
The construction sector was the major application segment and accounted for a share of over 36% in 2014. Rising use of fireproofing cladding products in commercial and residential buildings to compartmentalize the smoke and flames in the event of fire accidents and prevent spreading is expected to drive the demand over the forecast period. In addition, rising demand for new commercial and residential infrastructure in the Central and Eastern Europe particularly in Belgium, Austria, and Poland on account of increasing influx of migrants is expected to drive the demand in the region over the forecast period.
Rising use of decorative intumescent coating in high scale housing projects on account of improved aesthetic and visual appearance is likely to fuel the market growth over next seven years. The industrialsegment accounted for over 22% of the share in 2014 and is expected to grow at an estimated CAGR of 1.7% from 2015 to 2022. Rising investment by the companies to setup manufacturing bases in the Central and Eastern Europe particularly in Hungary, Poland, Romania, Slovakia, and the Czech Republic on account of cheaper manufacturing costs and better transportation facilities is likely to fuel the growth. In addition, availability of skilled manpower in the region at lower wage rates is further expected to complement the market growth in the region in the coming years.
Favorable trade policies coupled with stringent measures being taken by the government to restructure the economic policies in the region is expected to drive the investment in the industrial sector in the region which in turn is expected to drive the market demand. Rising use of intumescent coatings in industries including marine, aerospace and automotive owing to the superior fireproofing rating for longer duration is expected to drive the market growth over next seven years.
Cementitious material emerged as the leading product segment valued at over USD 500 million in 2014. Growing industrialization coupled with an increase in the use of steel in industries for structure fabrication are expected to be the key drivers for the growth of cementitious material based passive fire protection over the forecast period. Easier sourcing of raw materials for cementitious materials from industries including thermal power stations, cement and metal processing is expected to result in reduced prices. This in turn is expected to drive the market demand over next eight years.
Fireproofing cladding segment accounted for over 30% of the market share in 2014 and is expected to grow at an estimated CAGR of over 2% from 2015 to 2022. Rising consumer awareness regarding the ability of fire barriers and firestops to prevent spreading and minimizing asset loss is likely to promote the use of fireproofing cladding in the region. In addition, stringent government regulations to ensure the compliance of construction companies to fire prevention norms is expected to drive the market growth in the region. Widening application scope of fireproofing cladding products in residential, commercial, and industrial infrastructure is likely to fuel the growth over the forecast period.
Central and Eastern Europe is expected to witness a significant share for passive fire protection products on account of rising demand from industries including construction, oil & gas, and warehousing. Rapid industrialization in the region on account of improved interstate connectivity and transportation infrastructure is expected to drive the market demand. However, slower economic recovery in Western Europe is expected to restrain the market growth. Implementation of legislative policies by the governments mandating the effective use of passive fire protection products in the residential and commercial buildings is expected to drive the market demand over the forecast period. In addition, improvement in construction sector on account rising purchasing power of consumers and lower returns on financial investment is expected to fuel the growth over next seven years.
Competitive Market Share Insights
Key market participants include AkzoNobel N.V., Nullifire, The Sherwin-Williams Company, and RPM International Inc. AkzoNobel N.V. is involved in theproduction of performance coatings and specialty chemicals. Nullifireis involved in manufacturing and marketing of intumescent fireprotective coatings for structural steel, ships, metals, buildings, and automobiles. In addition, the company is involved in manufacturing a range of fire stopping solutions including cavity barriers, sealants & movement gap seals, and wall & floor penetration sealing.
In March 2016, Nullifire launched SC802 water-based intumescent coating for 60-minute on-site fire protection. This product is more economical and efficient as compared to other similar products. It is easy to spray and provides asuperior finish to the substrate.
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