Fireproofing Material Market Size, Share, Growth, Trends, and Global Industry Analysis: By Coating Type (Intumescent Coatings, Thin Film, Thick Film, Cementitious Coatings, Cement-Based, and Gypsum), By End-Use (Commercial, Industrial, Onshore, Offshore, and Residential), and Region Forecast 2019-2030

Fireproofing Material Market size was valued at USD 1,527.6 million in 2023 and is Projected to reach USD 2,669.4 million by 2030, growing at a CAGR of 8.3% from 2024 - 2030.  Fireproofing materials are materials used to upgrade the fire resistance of structures, materials, or surfaces. These materials can help in reducing heat and possibly a stoppage of flame spread to provide an element of protection against injury caused by fire. In building construction, fireproofing materials are usually applied to increase the fire resistance strength of structures. They are used on the flooring, steel beams, columns, and other structural elements to retard the spread of fire and to allow more time for the occupants to evacuate.

The overall emphasis of the safety regulations and standards laid by industries such as construction, oil and gas, and manufacturing are an important driving factor for this market. The global fireproofing materials market was about $5 billion in 2023. However, with an expected CAGR of around 6% over the next eight years till 2030, the market is expected to extend further. This growth rate is contributed mainly by the increasing fire hazard awareness and the need for effective fire protection solutions both in residential and commercial buildings sectors. The market, however, has high restraints marked by costs attributed to specialized materials and complicated application processes that would hinder some investors from investing in the market.

Opportunities are seen in the identification of new and environmentally friendly fireproofing products with good environmental standards and better sustainability of buildings. Another one is the retrofitting of existing old buildings with modern fireproofing solutions. Many of the old buildings do not meet the new standards set by regulatory compliance for fire protection. Secondly, recent trends depict an increasing demand for intumescent coating and spray-applied fireproofing systems due to their efficiency and applicability. The fireproofing materials market will probably continue to grow at a steady pace as the standards of safety evolve and companies demand more efficient solutions for fire protection.

 Fireproofing Material Market Key Developments:

• In June 2021, Carboline announced the acquisition of Dudick Inc., a global leader in high-performance coatings, flooring, and tank linings, headquartered in Streetsboro, Ohio. Dudick has provided solutions in corrosion resistance and chemical containment systems for various applications such as food processing, steel production, chemical processing, power, pulp & paper, electronics, and biological research labs.
• In January 2021, Firetherm, a smart passive fire protection company, moved under the brand Nullifire (a part of RPM International Inc.) and started delivering across the UK under the same brand name