Fire Protection Materials Market for Construction Industry Analysis Report By Type (Sheet/Board, Sealant, Mortar, Spray, Putty), By Application (Commercial, Industrial, Residential), And Segment Forecasts, 2018 - 2025

Report Overview

The global fire protection materials market for construction was estimated at USD 3.92 billion in 2016. Increasing use of such solutions for various types of constructions owing to introduction of strict safety regulations and building codes is estimated to drive market growth over the forecast period. In addition, increasing public awareness regarding safety of residences and workplaces is likely to propel the market in the coming years.

Fire protection materials delay the spread of flames, toxic fumes, and smoke and give people much needed time to evacuate the premises. This also gives fire engines and personnel added time to carry out rescue operations.

The market has immense growth potential as they have the ability to partially replace traditional construction materials such as sealants, putty, and coating sprays. There are also various official standards established to overlook and ensure product effectiveness.

Growth of the building and infrastructure sector across the world, especially in North America and Asia Pacific, is expected to drive the market. North America is the largest consumer of these materials in the construction industry owing to implementation of strict building codes to protect structures from various fire hazards. Additionally, high disposable income directed at spending on safety measures is expected to help North America maintain its dominance in this market.

High price of fire protection materials due to use of expensive raw materials is acting as a restraint to market growth. Moreover, extensive research and development heighten the selling cost of the final product. This increase in price makes them unaffordable for a considerable section of consumers, especially those in underdeveloped and developing countries.

Type Insights

Sealants formed the largest type segment and will continue to do so over the forecast period. Fire protection sealants can be used where joints in walls have high movement capability, which is one of its key benefits. Increasing use of sealants to protect steel structures against fire is expected to further drive the market.

Putty is known to provide protection from fire to cables, piping, conduits, and joints. It also helps control spread of toxic fumes and smoke, which are equally lethal. Putty is the fastest growing segment thanks to increasing use in new as well as old constructions. The growth of the construction industry in North America and Asia Pacific is expected to further drive segment growth.

Application Insights

Commercial construction is the largest application segment within the fire protection materials market for construction; it is also the fastest growing segment owing to increasing fire safety regulations and implementation of strict building codes in construction of offices, shopping centers, malls, hospitals, colleges, schools, universities, and hotels.

A thriving industrial sector and rapidly growing population in Asia Pacific, especially in China and India, are expected to drive the industrial and residential segments over the forecast period. Additionally, increasing disposable income and increasing awareness are expected to propel market growth.

Regional Insights

Asia Pacific is expected to be the largest regional market over the coming years. Rapid growth in population in countries such as China and India and increasing industrial activities due to various initiatives by governments are likely to drive the regional market over the forecast period. Additionally, soaring construction activities in the region, owing to initiatives such as CPEC (China Pakistan Economic Corridor) and OBOR (One Belt One Road) in China and Bharat Mala project in India are anticipated to drive the market.

Middle East and Africa is the second fastest growing market. Focus of countries like Saudi Arabia and United Arab Emirates to change their petroleum-centric economies into business- and tourism-centric ones is likely to benefit the market. Moreover, increasing construction of skyscrapers in these countries is expected to drive the regional market.

Key Companies & Market Share Insights

The market is oligopolistic in nature with the presence of both local and global players. Some of the major industry participants are AkzoNobel N.V., 3M, Sika AG, BASF SE, Hilti, and Morgan Advanced Materials. Market players are concentrating on developing high-performance products that can withstand extreme heat for a long duration by using advanced technologies and materials.

Many companies have introduced advanced technologies for manufacturing products that meet strict quality standards prescribed by regulatory authorities. Moreover, key players are heavily investing in research and development in order to introduce new and improved products in the market. This strategy helps them stay ahead of the competition.

Fire Protection Materials For Construction Industry Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global fire protection materials market for construction on the basis of type, application, and region:

• Type Outlook (Revenue, USD Million, 2014 - 2025)

  • Sealants

  • Mortar

  • Spray

  • Sheets/Boards

  • Putty

  • Others

• Application Outlook (Revenue, USD Million, 2014 - 2025)

  • Residential

  • Commercial

  • Industrial

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • The U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Middle East & Africa

    • UAE

  • Central & South America