Fireproofing Materials: Introduction
- Fireproofing provides materials and structures resistance to fire so that during an accidental case of fire the critical structures keep operating until the fire is brought under control. Fireproofing means applying certain products that minimize the escalation of fire.
- Fireproofing materials are used in refineries, petrochemical plants, power plants, process terminals, construction sites, and many other places where the chances of fire are high.
- Fireproofing materials can be of various types such as sealants & fillers, mortar, sheets & boards, sprays, preformed devices, putty, and cast-in devices.
Key Drivers and Restraints of Fireproofing Materials Market
- The global fireproofing materials market is influenced by the stringent governmental fire safety standards that help increase the usage of fireproofing materials in order to avoid any accident or mishap. These regulations are leading to the development of innovative fireproofing materials.
- Fireproofing materials are primarily employed in the construction industry. These are used in construction projects and buildings for commercial and residential purposes. Fireproofing coatings are majorly used to provide fire resistance in buildings. These coatings also provide resistance against weather and corrosion. Thus, rise in population and expansion of the construction industry in developing economies such as China and India are key factors likely to drive the fireproofing materials market in the next few years.
- Increase in stringent government regulations for replacement of harmful chemicals with bio-based chemicals and availability of alternatives for fireproofing materials are expected to hamper the fireproofing materials market in the near future.
Commercial End-use Segment to Dominate Global Fireproofing Materials Market
- Based on end-use, the global fireproofing materials market can be divided into commercial, industrial, and residential.
- Commercial construction is increasing in developed and developing countries. It comprises schools & colleges, hotels & restaurants, hospitals, laboratories, banks, offices, and retail stores.
- Stringent regulations and policies regarding fire safety in organizations such as hospitals, schools, hotels, and offices is expected to drive the commercial segment of the global fireproofing materials market during the forecast period.
- The industrial segment also accounted for vital share of the global fireproofing materials market in 2020. Demand for fireproofing materials in industries such as oil & gas, petrochemical, energy & power, manufacturing, and transportation & logistics has been increasing. This is driving the industrial segment of the global fireproofing materials market.
COVID-19 Impact on Fireproofing Materials Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic.
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the fireproofing materials market.
North America to Hold Leading Share of Fireproofing Materials Market
- In terms of region, the fireproofing materials market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- North America is expected to hold major share of the global fireproofing materials market, followed by Europe and Asia Pacific, during the forecast period. Implementation of stringent regulations and codes regarding fire safety is anticipated to create lucrative opportunities for the fireproofing materials market in North America during the forecast period.
- The fireproofing materials market in Asia Pacific is driven by the growth of the construction industry.
- Rise in population and urbanization has led to expansion of the construction industry. Growth of the construction industry is driving the fireproofing materials market in Asia Pacific.
- The fireproofing materials market in Latin America and Middle East & Africa is projected to expand at a moderate pace in the near future. Fireproofing materials are imported into countries such as Brazil, Mexico, and South Africa, due to limited presence of manufacturing companies in these countries.
Key Manufacturers Operating in Fireproofing Materials Market
The fireproofing materials market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the fireproofing materials market include:
- Akzo Nobel
- 3M
- Sika AG
- Carboline
- PPG Industries, Inc
- Rpm International Inc.
- Etex Group
- BASF SE
- Knauf Insulation GmbH
- The Sherwin-Williams Company
- Ugam Chemicals
- Iris Coatings S.r.l
- Den Braven
- No-Burn Inc.
- Jotun Group
- W.R. Grace & Co.
Fireproofing Materials Market: Research Scope
Fireproofing Materials Market, by Type
- Coatings
- Films
- Sprays
- Putty
- Sheets/Boards
- Others
Fireproofing Materials Market, by End-use
- Commercial
- Industrial
- Residential
Global Fireproofing Materials Market, by Region
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
