Intumescent coatings passive fire protection materials market revenue is expected to witness gains close to 8.5% during the forecast timespan. It is water or epoxy-based coating which can expand upon exposure to heat by almost 25 times in volume which results in forming a high strength and insulative fire resistance char. It acts as an excellent fire-resistant material across various end-user industries including construction, oil & gas, manufacturing, automotive, aerospace, warehousing, etc. which will make noteworthy contribution to passive fire protection materials industry size in the coming years.
Request for a sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2305
Passive Fire Protection Materials Market size is poised to surpass USD 27 billion by 2024. Strong demand for hydrocarbon based intumescent coatings from oil & gas industry will propel passive fire protection materials market size during the forecast timespan. These materials are extensively preferred across various end-user industries including construction, oil & gas, warehousing, manufacturing, etc. owing to its exceptional properties to tackle situations in case of fire emergency.
Unstable prices for raw materials which are widely used in making passive fire proofing materials is probable to hinder the passive fire protection materials market size by 2024. Furthermore, persistent need to enhance safety standards across various industries such as manufacturing, oil & gas, warehousing, automotive, aerospace, etc. will drive the overall passive fire protection materials market size by 2024.
Passive fire protective sealants market size is anticipated to rise at a CAGR of over 8% by 2024. These materials are widely applicable for firestop in walls, floors, curtain wall joints, and in linear joints between walls and floors. They expand within the joints to provide fire & vapor sealed environment and are highly preferred in maintaining safety standards across various industries such as oil & gas, warehousing, manufacturing, construction, etc. and henceforth is probable to make substantial impact on passive fire protection materials market size by 2024.
Browse key industry insights spread across 254 pages with 289 market data tables & 28 figures & charts from the report, “Passive Fire Protection Materials Market” in detail along with the table of contents:
Based on the end-users, building & construction segment for passive fire protection materials market is projected to grow with CAGR of about 8.5% by 2024. This is attributed to strong persistence by regional regulatory bodies primarily in emerging economies to enhance safety standards in residential & commercial buildings. For instance, Association of Specialist Fire Protection (ASFP) have been encouraging to improve the quality of installed fire protection in all forms to improve the safety standards and reduce damage across high-risk environments which in turn will make significant contribution to passive fire protection materials market size by 2024.
Asia Pacific passive fire protection materials market size is anticipated to witness CAGR close to 9.5% during the forecast timespan. This is mainly due to consistent efforts by government and regulatory bodies in the region to improve safety standards in commercial and residential buildings.
Major passive fire protection materials market share contributors are Sharpfibre, Kansai Paint, Lloyd Insulations, 3M, Rudolf Hensel, Nullifire, Teknos, Akzo Nobel, Promat International, PPG Industries, Sherwin-Williams and Hempel. Most of the companies are making significant investment in their R&D facilities to develop advanced materials and attain competitive advantage in the market. For instance, Jotun has initiated to set up a new R&D center which will cost over USD 6 million at its site in Flixborough, United Kingdom. It is intended to focus on passive fire protection and insulation coatings innovation which will help accomplish higher gains than competitors in the region.
Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2305
Browse Related Report:
Industrial Floor Coatings Market Forecast, 2018-2024
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Company Name: Global Market Insights Inc.
Contact Person: Arun Hegde
Email: Send Email
Phone: 1 302-846-7766
Address:4 North Main Street
Country: United States