Fire Stopping Materials: Introduction
- Fire stopping material is a retardant that helps seal any openings to prevent fire, smoke, and heat from passing through multiple building compartments. It is made from various components and available in different types, such as mortars, collars, gypsum boards, sealants, and putty & putty pads. Fire stopping materials are used in industries, residential and commercial buildings, warehouses, and complexes. Usage of different materials in different places is based on construction model, climate, locality, and preference.
- Rising demand from residential, commercial, and industrial projects is expected to propel the fire stopping materials market during the forecast period.
Key Drivers and Opportunities of the Fire Stopping Materials Market
- Investment in construction of offices, hospitals, government buildings, and education institutes is increasing due to rise in population, urbanization, and disposable income, which has provided an impetus to the growing market. Besides, an increase in fire accidents and a rise in fire safety rules and regulations obliges businesses to install fire stopping material in buildings, industries, residential, and non-residential premises, which is expected to drive the growth of the fire stopping materials market.
- Growing economies coupled with changing lifestyles have led to higher consumer spending. Consumers are more inclined toward the safety of their families and hence adoption of fire stopping material products is expected to increase during the forecast period. Consumers are now moving toward buying luxurious properties in high rise buildings, and skyscrapers, which are equipped with all the safety standards and fire-resistant elements. This is expected to further propel the fire stopping materials market during the forecast period.
- Many businesses shut down due to the Covid-19 pandemic and it affected construction activities as well, which consequently impacted the fire stopping materials market. However, the industry is expected to recover slowly with ease in restrictions. In the bargain, manufacturers are focusing on research and development for technology advancement to develop the fire stopping materials market.
North America to Hold Major Share of the Fire Stopping Materials Market
- In terms of region, the fire stopping material market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America accounted for largest clientele in the fire stopping materials market. One of the major factors driving demand for fire stopping materials in North America are the stringent fire safety norms mandated by governments, rise in tall residential buildings such as skyscrapers, and also increasing number of manufacturers, suppliers, and certified fire contractors in the region.
- The market in North America is likely to be followed by the market in Asia Pacific during the forecast period due to rising industrialization and construction activities owing to increase in population.
Key Players Operating in the Fire Stopping Materials Market
- 3M
- Abesco Fire Ltd.
- Fire Seals Direct
- Fischerwerke GmbH & Co. KG
- Hilti Corporation
- Knauf Insulation
- Lloyd Insulations
- Morgan Advanced Materials
- Saint-Gobain Group
- Unique Fire Stop Products Inc.
Fire Stopping Materials Market: Research Scope
Fire Stopping Materials Market by Product Type
- Cast-in devices
- Mortars
- Putty & Putty Pads
- Boards
- Sealants
- Collars
- Wraps/Strips
- Cavity Barriers
- Intumescent Mastics
- Others (Sprays, etc.)
Fire Stopping Materials Market, by Price
- Low
- Medium
- High
Fire Stopping Materials Market, by End-user
- Residential
- Commercial
- Industrial
Fire Stopping Materials Market, by Distribution Channel
- Direct Sales
- Indirect Sales
Fire Stopping Materials Market, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- South America
- Brazil
- Rest of South America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
