Passive Fire Protection Coatings Market Size and Overview:
The global passive fire protection coatings market estimated to be valued US $ 5.49 Bn in 2019 and poised to grow at significant CAGR of 6.39 % over 2020-2026. Rising advanced constructions and industrialization which requires high safety measures such as protection from fire and other accidents fueling in the market growth. Additionally, High demand from fire protection in steel, oil & gas, and construction sectors is expected to be a driver for the market growth. Additionally, rising number of stringent regulatory in the equipped building for fire protection and insulations measures is fueling the market growth. Moreover, increased the technological advancement boosts the growth of the passive fire protection coatings market. However, high cost of passive fire protection coatings procedures and lack of standard norms and lack of awareness regarding the benefits of passive fire protection are the major factors that hinder the growth of the passive fire protection coatings market.
Passive Fire Protection Coatings Market Report Description:
Global passive fire protection coatings market report gives comprehensive outlook on passive fire protection coatings across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global passive fire protection coatings market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, by technology, application and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global passive fire protection coatings market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global passive fire protection coatings products.
Rising Concern towards the Safety are fueling the Growth of the Passive Fire Protection Coatings Market
In the recent years, Due to booming in industrialization and rising infrastructure commercial buildings, hospitals, colleges, residential buildings and oil & gas industry rising the demand for fire-safe and energy-efficient infrastructure is also projected to contribute to the market expansion over the forecast period. These coating prolong the spreading of fire thus providing enough time for evacuate the buildings and also helps the firefighter to control the fire so to reduce the assets loss. Additionally, rising in the technological advancement for new innovations and increasing investments and funds will further boost the market growth. Additionally, increasing awareness related to improving fire safety management, improving features, and enhancing productivity and efficiency of consumers is expected to further drive the growth.
North America Accounts for Larger Market Revenue Share in Global Passive Fire Protection Coatings Market
North America accounted for larger revenue share in global market with considerable CAGR. The growth in this region can be attributed to rising in the awareness of the safety in the consumers and in this region is supported by high expenses additionally strict government rules regarding the safety of the people. European market dominates by advanced constructions and renovations systems. In Asia region passive fire protection coatings is largely driven by the urbanizations, and booming industrialization, increase in disposable incomes and increasing government emphasis on safely of public and government assets in the region.
Key player’s profiles in the report include:
- PPG Industries
- Promat International
- Kansai Paint
- Teknos Group
- Gangotri Hi-Tech Coatings
- Monarch Industrial Products
- Arabian Vermiculite Industries
- Albi Manufacturing
- Solatek International
Global market is surging owing to frequent acquisitions and launchings by the market players. In March 28, 2019, AkzoNobel launches new fire protection system for wooden facades. These wooden facades provide exceptional fire resistance and have high quality finishing. Thus, the company expands its product across the European region.
- Cementitious Material
- Intumescent Coating
- Fireproofing Cladding
- Oil & Gas
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Findings of the Report:
- Global passive fire protection coatings market expanding at significant CAGR over 2020 to 2026 due to increase in the awareness of the energy conservation and power saving.
- Based on product type, by technology, application passive fire protection coatings segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global passive fire protection coatings market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market