The global passive fire protection market value stood at USD 5,023.2 million in 2014 owing to rising demand for improved fire safety standards from residential and commercial buildings. Growing emphasis by the regional governments to implement passive fire protection products in the buildings is expected to drive growth. Growing use of passive fire protection in oil & gas industry to prevent the structural damage in the event of explosive fire accidents is expected to augment growth.
Passive fire protection forms an integral part of structural protection owing to its ability to slow down the spread of heat and smoke. Rising demand for longer duration fire protection products coupled with minimal asset loss is expected to augment market over the forecast period. Growing popularity in construction activities coupled with rising demand for decorative intumescent coatings in infrastructure development is likely to propel growth over the next seven years. However, volatile price of intumescent coatings owing to volatile raw material prices is expected to restrict development.
Passive fire protection solutions are being increasingly used for application in manufacturing and warehousing. In the U.S., these are majorly used for applications including aerospace & defense, construction and oil & gas which is expected to augment growth over the next seven years.
U.S. passive fire protection market revenue, by application, 2012 - 2022 (USD Million)
Oil & gas segment was valued at over USD 1,400.0 million in 2014. Growing demand for hydrocarbon intumescent coatings in oil & gas industry owing to high-risk environment due the presence of the explosive & highly flammable compound is expected to propel the market over the forecast period. Rising shale gas exploration activities owing to improved exploration technologies including horizontal and hydraulic drilling coupled with rising use of shale gas in industries including manufacturing and energy is expected to augment growth over the forecast period.
Construction application segment accounted for a share of over 29.0% in 2014. Rising use of intumescent coatings and firestopping materials in the residential and commercial infrastructure is expected to propel growth over the forecast period. Furthermore, aesthetic visual appearance and extreme weather resistance of these coatings drive their demand in the civil construction sector.
Growing use of intumescent coating in industries including automotive and aerospace owing to growing need to develop fire-safe aircraft and vehicle structure is expected to drive the growth over next seven years.
Intumescent coatings segment was valued at over USD 700.0 million in 2014. Rising demand from industries including construction, warehousing, energy, and oil & gas owing to increasing utilization of intumescent coatings to reduce the structural is expected to propel the market over the forecast period. Growing industrialization coupled with rising use of steel in industrial plant structure fabrication will be the key drivers for the growth of intumescent coatings. Rising use of intumescent coatings in the construction industry owing to low VOC content and superior extreme weather resistance is expected to drive the growth over next seven years.
The cementitious materials segment accounted for over 40.0% in 2014. Rising use of cementitious material on a steel structure in order to provide thermal and acoustic insulation is expected to drive the demand in the industrial sector. Growing use of cementitious material on account of cheaper procurement cost coupled with quicker application time and condensation control is expected to drive the demand for cementitious material over the forecast period.
The market is expected to witness growing use of fireproofing cladding in the construction industry for applications including compartmentalization, preventing smoke & fire spread owing to their property to divide the portions of buildings into different compartments & contain the smoke & fire within them in the building.
North America accounted for over 20.0% of revenue in 2014.The market is developed in North America due to matured industrial sector, growing consumer demand for improved fire safety of the buildings, and increasing spending by the regional government on improving the overall safety of the infrastructure. Growing use of these products including intumescent coating in the aerospace industry to prevent the aircraft structure damage and minimize the asset loss is expected to propel the demand for passive fire protection in the region over next seven years.
Asia Pacific demand was estimated at over USD 1,700.0 million and is projected to witness high growth due to the rising demand from industries including manufacturing, automotive, construction, and warehousing. Growing consumer willingness to pay coupled with growing awareness regarding fire safety particularly in the youth population is expected to propel demand for these products in the region over the next seven years
The market in Europe is estimated to develop at a substantial rate with growing investment by the companies in expanding & improving their manufacturing facilities. Growing trend of constructing energy efficient green buildings coupled with rising demand for improving aesthetic looks of the buildings is likely to propel the demand for intumescent coatings in the region.
Competitive Market Share Insights
The market is highly fragmented with the presence of numerous regional and local companies. Key strategies include new product innovation and partnerships in order to technologically improve their products. In January 2015, Flowcrete Americas signed a new distribution agreement with Carboline for marketing and distribution its product line globally. In March 2014, Sherwin-Williams opened 109 new stores to increase the total number of stores in operation to 4003 in order to cater global demand.
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