San Francisco, 30 November 2018: The global passive fire protection market is expected to reach USD 7.13 billion by 2022,
according to a new report by Grand View Research, Inc. Growing demand for
upscale residential projects is expected to drive the passive fire protection
market.
Rising investment in
automation and digitization of the industries coupled with growing use of
passive fire protection in warehousing application is expected to drive growth
over the forecast period. In addition, rising use of the product in automotive
and shipbuilding is expected to drive the demand in Europe and North America.
Growing need of minimizing the asset loss is also expected to fuel product
demand over the next seven years.
Access Research Report
of Passive Fire Protection
Market @ www.grandviewresearch.com/industry-analysis/passive-fire-protection-market
Further
key findings from the report suggest:
· Intumescent coating segment is expected to
grow at a CAGR of over 4.0% from 2015 to 2022. Rising investment by the oil
& gas firms in improved exploration technologies including hydraulic fracturing
and horizontal drilling is expected to drive the market demand. Intumescent
coatings are being widely used in manufacturing and power industry.
· Industrial sector accounted for over 20.0%
share of the passive fire protection market owing to capacity expansion and
technology upgradation. In addition, government policies including the grant of
incentives and subsidies to promote the development of new manufacturing
facilities in emerging economies including India, Brazil and Africa is expected
to augment demand.
· North America market is expected to grow at
a CAGR of 4.5% from 2015 to 2022. Rising investment to improve their downstream
capability and upstream operations prospect is expected to drive growth. The
aerospace industry is expected to witness significant growth in the region
owing to lower interest rates and availability of financing options.
· Europe demand for passive fire protection
was valued at over USD 1.30 billion in 2014. Europe is expected to witness a
steady growth in consumption from warehousing industry owing to rising
investment to improve logistics infrastructure coupled with rising government
initiatives to improve freight transportation services in the region. However,
reducing oil imports coupled with stiff competition from new refining
facilities in Asia Pacific and the Middle East is expected to affect the global
share of Europe in oil & gas industry over the forecast period. This, in
turn, is expected to pose a challenge to market growth over next seven years.
· Nullifire is a key market player which
manufactures intumescent coatings, foams, fire curtains, seal bags, sealants
and putty pads. In July 2011, Nullifire launched new service which helps public
sector clients to ensure maximum fire resistance. Key companies include Lloyd
Insulations (India) Ltd., Nullifire, Hempel, Sherwin-Williams, HILTI, and
Carboline.
Browse
more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/advanced-materials
Grand View Research has
segmented the global passive fire protection market on the basis of product,
application and region:
Global Passive Fire Protection Product Outlook (Revenue,
USD Million, 2012 - 2022)
·
Cementitious Material
·
Intumescent Coating
·
Fireproofing Cladding
·
Others
Global Passive Fire Protection Application Outlook
(Revenue, USD Million, 2012 - 2022)
·
Oil & Gas
·
Construction
·
Industrial
·
Warehousing
·
Others
Global Passive Fire Protection Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
·
Latin America
o
Brazil
·
Middle East & Africa
Access Press Release of
Passive Fire Protection Market@ www.grandviewresearch.com/press-release/global-passive-fire-protection-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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