Global Fire Stopping Material Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
22 Jun, 2023
The global fire-stopping materials market size is expected to grow from $1.39 billion in 2022 to $1.52 billion in 2023 at a compound annual growth rate (CAGR) of 9.23%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global fire-stopping materials market size is expected to reach $2.24 billion in 2027 at a CAGR of 10.21%.
Global Fire Stopping Material Market Key Driver
The increasing number of fire occurrences is projected to drive the fire-stopping materials market in the future. Fire accidents are sad occurrences that can cause property loss and horrifying burn injuries that cause intense suffering, scarring, deformity, disability, the need for continuous care, and even death. Fire-resistance materials are important fire-fighting tools. It protects persons and property by preventing fire from spreading across a building's various compartments.
Get a sample of the global fire stopping material market reportGlobal Fire Stopping Material Market Segments
The global fire stopping material market is segmented:
1) By Type: Coatings, Mortar, Sealants And Fillers, Sheets And Boards, Spray, Preformed Device, Putty, Cast-In Devices, Other Types
2) By Application: Electrical, Mechanical, Plumbing, Other Applications
3) By End-User: Commercial, Industrial, Residential
4) By Geography: The regions covered in the fire stopping material market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global fire stopping material market.
Major Fire Stopping Material Industry Players
Hilti Corporation, 3M Company, Sika AG, Etex Group, Morgan Advanced Materials, Knauf Insulation, Compagnie de Saint-Gobain S.A, BASF SE, Abesco Fire Ltd., Fire Seals Direct, Fischerwerke GmbH And Co. KG, Lloyd Insulations, Unique Fire Stop Products Inc., Technologies Inc., Trelleborg AB
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Fire Stopping Material Market Overview
Fire-stopping materials refer to a class of materials that help a structure resist fire. and used to fill openings and joints between walls and floors with fire-resistant material, these compounds are generally utilized to decrease the effects of disastrous fires. These materials can be categorized as passive or active fire prevention materials.
Fire Stopping Material Global Market Report 2023 provides data on the global fire stopping material market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The fire stopping material market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.