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
- 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
- Putty & Putty Pads
- Cavity Barriers
- Intumescent Mastics
- Others (Sprays, etc.)
Fire Stopping Materials Market, by Price
Fire Stopping Materials Market, by End-user
Fire Stopping Materials Market, by Distribution Channel
- Direct Sales
- Indirect Sales
Fire Stopping Materials Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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