Global Fire Protection Coatings can be applied to a wide array of substrates and provide them with active resistance to fire. The gravity of damage and the increasing frequency of fire atrocities have given a way to stringent fire safety regulations. The Global Fire Protection Coatings Market is spanned across five key regions in the world namely Asia Pacific, Europe, North America, Latin America and the Middle East & Africa. Asia Pacific is projected to rule the market in the world and is anticipated to continue its dominance during the forecast period owing to its growing use in major industries such as oil & gas, buildings and construction, automotive and others. China, Japan and India are the major players in this region due to growing awareness and concerns of safety in heavy end industries. These things have prompted manufacturers and investors of recognized companies to prioritize safety.
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The Fire Protection Coatings Market has witnessed an exceptional growth in the European region due to its stringent policy and reforms set by the regional government which is driven by relatively high mass awareness regarding fire safety. Germany, the U.K. and Italy are projected to be the leading players in this region owing to an increasing usage in the heavy end industries. It is predicted that the passive fire protection coating is set to grow at a higher CAGR during the forecast period.
An enormous growth has propelled the North American region to witness a rapid demand of steel in construction, petrochemical, energy, aviation, and others. It is projected that the U.S., Canada and Mexico are going to be the prominent players in this region during the forecast period. A surge in demand is predicted in the passive fire coating segment due to growing production of organic and inorganic coatings in end-use industries. The fire protection coating market is predicted to witness a remarkable growth in the Latin American countries such as Brazil, Argentina and Uruguay due to an increase in number of coatings industries. Additionally, the Middle East & Africa is estimated to witness a stunted growth due to low crude oil prices, declining construction industry, and others.
Some of the major players operating in the Global Fire Protection Coatings Market are PPG industries (U.S.A.), Akzo Nobel N.V. (the Netherlands), The Sherwin-Williams Company (U.S.A.). RPM International Inc. (U.S.A.), Nippon Paint Holdings Co.(Japan), Axalta Coating Systems, LLC(U.S.A.), The Valspar Corporation( U.S.A.), BASE Coatings (Germany), KANSAI PAINT CO.,LTD (Japan), among others.
The Global Fire Protection Coatings Market is segregated on the basis of Type and Application.
On the Basis of Type, the market is further segmented into passive fire protection coatings and active fire protection coatings. Among these, passive Fire Protection Coating segment is set to grow at a high rate due to the rising demand in end-use industries.
On the Basis of Application, the market is further classified into buildings and construction, oil & gas, automotive, marine, aviation, and others. Buildings and construction segment is predicted to hold the major share in the market during the forecast period.
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