Global Passive Fire ProtectionMarket is expected to reach
USD 7.13 billion by 2022, according to a new report by Grand View Research,
Inc. Growing demand for upscale residential projects is expected to drive the
passive fire protection market.
Rising investment in automation and digitization of the
industries coupled with growing use of passive fire protection in warehousing
application is expected to drive growth over the forecast period. In addition,
rising use of the product in automotive and shipbuilding is expected to drive
the demand in Europe and North America. Growing need of minimizing the asset
loss is also expected to fuel product demand over the next seven years.
Full Research Report on Global Passive Fire Protection
Market Analysis:
- Intumescent
coating segment is expected to grow at a CAGR of over 4.0% from 2015 to
2022. Rising investment by the oil & gas firms in improved exploration
technologies including hydraulic fracturing and horizontal drilling is
expected to drive the market demand. Intumescent coatings are being widely
used in manufacturing and power industry.
- Industrial
sector accounted for over 20.0% share of the passive fire protection
market owing to capacity expansion and technology upgradation. In
addition, government policies including the grant of incentives and
subsidies to promote the development of new manufacturing facilities in
emerging economies including India, Brazil and Africa is expected to
augment demand.
- North
America market is expected to grow at a CAGR of 4.5% from 2015 to 2022.
Rising investment to improve their downstream capability and upstream
operations prospect is expected to drive growth. The aerospace industry is
expected to witness significant growth in the region owing to lower
interest rates and availability of financing options.
- Europe
demand for passive fire protection was valued at over USD 1.30 billion in
2014. Europe is expected to witness a steady growth in consumption from
warehousing industry owing to rising investment to improve logistics
infrastructure coupled with rising government initiatives to improve
freight transportation services in the region. However, reducing oil
imports coupled with stiff competition from new refining facilities in
Asia Pacific and the Middle East is expected to affect the global share of
Europe in oil & gas industry over the forecast period. This, in turn,
is expected to pose a challenge to market growth over next seven years.
- Nullifire
is a key market player which manufactures intumescent coatings, foams,
fire curtains, seal bags, sealants and putty pads. In July 2011, Nullifire
launched new service which helps public sector clients to ensure maximum
fire resistance. Key companies include Lloyd Insulations (India) Ltd.,
Nullifire, Hempel, Sherwin-Williams, HILTI, and Carboline.
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research
has segmented the Global Passive Fire Protection Market on the basis of
product, application and region:
Global Passive Fire Protection Product Outlook (Revenue,
USD Million, 2012 - 2022)
- Cementitious
Material
- Intumescent
Coating
- Fireproofing
Cladding
- Others
Global Passive Fire Protection Application Outlook
(Revenue, USD Million, 2012 - 2022)
- Oil
& Gas
- Construction
- Industrial
- Warehousing
- Others
Global Passive Fire Protection Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2012 - 2022)
- North
America
- U.S.
- Europe
- Germany
- Asia
Pacific
- China
- Latin
America
- Brazil
- Middle
East & Africa
View Press Release of this research report by Grand View
Research: http://www.grandviewresearch.com/press-release/global-passive-fire-protection-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com