Fireproofing Materials Market In 2022 with CAGR of 9.8% : Industry size estimation, Revenue Analysis, Worldwide Research by Fastest Growing Companies

 Key Companies Covered in the Fireproofing Materials Market Research are Akzo Nobel N.V. (Netherlands), Isolatek International (US), Sika AG (Switzerland), Etex Group (Belgium), PPG Industries, Inc (US), BASF SE (Germany), and other key market players.

The fireproofing materials market size is estimated to be USD 0.9 billion in 2022 and is projected to reach USD 1.5 billion by 2031, at a CAGR of 9.8% between 2022 and 2031. Factors such as increasing fire safety regulations will drive the fireproofing materials market. Rising environmental and health concerns due to the use of conventional chemicals in fireproofing materials regions is a major restraint. However, the growing demand for developed intumescent fireproof and water-based coatings in construction will act as an opportunity for the market.

“Intumescent coatings is estimated to be the largest coating type of fireproofing materials market in 2020”

Intumescent coatings are broadly divided into thin film and thick film coatings. Thin-film intumescent coatings are either solvent-based or water-based and consist of three components a primer, a base coat, and a sealer coat. These coatings are majorly used to provide fire resistance in buildings. Thick film intumescent coatings are usually epoxy-based and typically have higher dry film thickness than thin film coatings. These materials are tough and durable and were originally developed for use for hydrocarbon fires wherein the test heating regime is significantly severe than that used for most industrial and commercial applications. These are majorly used for external steel in high-rise buildings and structures exposed to marine environments. This segment is estimated to be the largest and fastest-growing segment in the coating type as it is more durable than cementitious coatings.

“Industrial was the second largest end use industry for fireproofing materials market in 2020”

The fireproofing materials market size for the industrial segment accounted for the second-largest share of global fireproofing materials, in terms of value, in 2020 this was led by the demand from energy & power, manufacturing, oil & gas, petrochemical, and transportation & logistics industries. Industrial construction includes high use of steel. This end-use is further sub-divided into onshore and offshore. Onshore industrial end-use includes fireproofing coatings applied on the various steel assets in onshore oil & gas refining and chemical processing environments, including spheres, vessels, skirts, beams, and columns. In the offshore segment, fireproofing coatings are used for the protection of steel structures in liquid natural gas carriers, oil drilling ships, floating oil & gas production vessels, oil tankers, and naval vessels.

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Fire protection is a must for steel construction wherein the combustion of hydrocarbon fuels such as oil, methane, liquefied natural gas (LNG), and liquefied petroleum gas (LPG) can lead to disasters in the industrial segment, for instance, the oil & gas industry. Fireproof coatings are used in manufacturing units owing to their properties such as durability, ease of maintenance, esthetic benefits, and ease-of-application. Moreover, these coatings also provide protection against harsh environmental exposure, alkali, and abrasion.

“North America is estimated to be the largest fireproofing materials market in 2020, in terms of value.”

North America was the largest market for fireproofing materials in 2020. It has been a leader in product innovation in terms of quality and the development of applications. The US is the key country in the region, accounting for the largest share of the market. It has high demand in both, residential and commercial construction and is expected to grow significantly during the forecast period, leading to the growth of the market in the region. The demand for fireproofing materials in North America is increasing in both, existing and new constructions. New codes and policies have made the application of fireproofing materials mandatory for existing commercial and industrial buildings.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.

A breakdown of the profiles of the primary interviewees are as follows:

  • By Company Type: Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%
  • By Designation: C-Level – 21%, Director Level – 23%, and Others – 56%
  • By Region: North America – 41%, Europe – 30%, APAC – 18%, Middle East & Africa – 7%, and South America – 4%

The key market players profiled in the report include 3M (US), Akzo Nobel N.V. (Netherlands), Isolatek International (US), Sika AG (Switzerland), Etex Group (Belgium), PPG Industries, Inc (US), BASF SE (Germany), Carboline (US), RPM International Inc. (US), Jotun Group (Norway), Iris Coatings S.r.l (Italy), Knauf Insulation (US), Hempel Group (Denmark), W.R. Grace & Co.(US), Rolf Kuhn GmbH (Germany), Rockwool International AS (Denmark), No-Burn Inc. (US), The Sherwin-Williams Company (US), Contego International Inc. (US), Den Braven (Netherlands), Encon Insulation Ltd (UK), Ugam Chemicals (India), Intumescent Systems Ltd (UK), PK Companies (US), FlameOFF Coatings Inc.(US).

Research Coverage

This report segments the market for fireproofing materials on the basis of coating type, end-use and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches and mergers & acquisition associated with the market for fireproofing materials.

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Reasons to buy this report

This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the fireproofing materials market; high-growth regions; and market drivers, restraints, challenges and opportunities

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on fireproofing materials offered by top players in the global fireproofing materials market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the fireproofing materials market
  • Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for fireproofing materials across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global fireproofing materials market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the fireproofing materials market
  • Impact of COVID-19 on fireproofing materials market

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