The passive fire protection market has experienced solid growth, increasing from $4.77 billion in 2023 to $5.14 billion in 2024, reflecting a CAGR of 7.7%. This upward trend is linked to a rising focus on energy efficiency, increased construction activities, and heightened awareness of fire safety standards. Projecting into 2028, the market is expected to reach $6.93 billion, with a CAGR of 7.8%. This growth is attributed to stringent regulations, innovations in material science, and urban expansion. Key trends in the forecast period include a greater emphasis on post-fire investigations, sustainability considerations, and the influence of the insurance industry.
Major Driver In The Passive Fire Protection Market
The growth trajectory of the passive fire protection market is propelled by the burgeoning construction sector, emphasizing fire safety measures in structures and buildings. With the construction industry encompassing building, maintenance, repair, and infrastructure development, the demand for fireproof materials is on the rise. These materials, characterized by non-combustible properties and low thermal conductivity, significantly mitigate fire hazards and prevent the rapid spread of flames. As projected by the Global Construction Perspectives and Oxford report, the global construction sector is anticipated to reach $8 trillion by 2030, underscoring the pivotal role of the construction sector in driving growth within the passive fire protection market in the years ahead.
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Passive Fire Protection Market Competitive Landscape
Tata Projects Limited, BASF SE, 3M Company, Larsen & Toubro Limited, PPG Industries Inc., Akzo Nobel N.V., Sika AG, Webuild S.p.A., RPM International Inc., StanChem Inc., Etex Building Performance Ltd., Salini Impregilo S.p.A., Jotun AS, Tremco Incorporated, GMR Infrastructure Ltd., Rotarex S.A., Mercor SA, Lloyd Insulations Limited, Specified Technologies Inc., Safety Technology International Inc., Scaletron Industries Ltd., Envirograf Products Limited, Clean Air Company, Daussan SAS, No-Burn Inc., Master Fire Prevention Systems Inc., Floyd Bell Inc., SC Fastening Systems LLC, Contego International Inc., Acoustical Surfaces Pvt Ltd.
Key Passive Fire Protection Market Trend
Major companies operating in the passive fire protection market are developing innovative products, such as passive fire protection (PFP) coatings, to meet larger customer bases, increase sales, and increase revenue. Passive fire protection (PFP) coating refers to a specialized type of coating or treatment applied to surfaces, structures, or materials within buildings or industrial facilities to enhance their fire resistance. For instance, in June 2022, Hempel A/S, a Denmark-based coating manufacturer, launched the Hempafire XTR 100. Distinguished by its UL 1709 certification and formulated as a lightweight coating with minimal dry film thickness, Hempafire XTR 100 provides exceptional hydrocarbon passive fire protection, delivering noteworthy safety advantages and project efficiencies for clients. As an epoxy intumescent coating, Hempafire XTR 100 effectively insulates steel structures during hydrocarbon pool fires, prolonging the steel's load-bearing capacity for up to four hours. This extension in fire resistance allows for an extended timeframe for the safe evacuation of personnel and the safeguarding of valuable assets and equipment, facilitating firefighting efforts. Specifically tailored for the oil and gas sector, including applications in downstream refining and petrochemical plants, Hempafire XTR 100 stands out as a specialized solution designed for optimal performance in demanding environments.
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Passive Fire Protection Market Segmentation
The passive fire protection market covered in this report is segmented –
1) By Product: Cementitious Materials, Intumescent Coating, Fireproofing Cladding, Other Products
2) By Application: Structural, Compartmentation, Opening Protection, Firestopping Material
3) By End-User: Oil And Gas, Construction, Industrial, Warehousing, Other End-Users
By Geography:The regions covered in the passive fire protection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the passive fire protection market in 2023.
The Passive Fire Protection Global Market Report 2024 furnishes information about the global passive fire protection market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
