The global passive fire protection market size is expected to reach USD 5.17 billion by 2025,
according to a new report by Grand View Research, Inc. The market is projected
to expand at a CAGR of 5.1% over the forecast period. Increasing exploration
activities in the global oil & gas industry is likely to boost the market
growth. Prevalence of high-risk environment owing to the presence of explosive
and highly flammable compound in oil & gas production makes the use of a
passive fire protection system extremely important, thereby augmenting the
product demand.
In addition, rising shale gas exploration activities in
U.S. is expected to drive the demand over the forecast period. Rising consumer
awareness regarding safety has led to the increased investments in the
installation of protection systems in commercial as well as residential
buildings. Furthermore, growing incidents of fire accidents have led the governments
across the globe to emphasize on improving the safety aspects of the existing
and upcoming infrastructures, thereby driving the passive fire protectionmarket
growth. Rapidly expanding global construction sector coupled with increasing
urbanization in emerging economies is expected to propel market growth further.
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click the link below:
https://www.grandviewresearch.com/industry-analysis/passive-fire-protection-market
https://www.grandviewresearch.com/industry-analysis/passive-fire-protection-market
Further
key findings from the study suggest:
· Cementitious materials accounted for a
market share of 42.3% in 2018 and is projected to be the largest segment on
account of the condensation control property of these materials
· Product demand in the construction industry
was valued at USD 1.35 billion in 2018 owing to increased construction
activities along with the need for energy-efficient and safer infrastructures
· Asia Pacific was the largest regional
market and is estimated to maintain its dominance in future due to high product
demand from construction, industrial, and warehousing sectors of China and
India
· The market in U.S. is expected to witness a
significant growth over the forecast period on account of stringent government
regulations regarding fire safety
· Integration across the value chain,
development of new manufacturing technologies, and introduction of innovative
products are the key success factors for the manufacturers of protection
products
Grand View Research has segmented the global passive fire
protection market on the basis of product, application, and region:
Passive Fire Protection Product Outlook (Revenue, USD
Million, 2014 - 2025)
·
Cementitious Material
·
Intumescent Coating
·
Fireproofing Cladding
·
Others
Passive Fire Protection Application Outlook (Revenue, USD
Million, 2014 - 2025)
·
Oil & Gas
·
Construction
·
Industrial
·
Warehousing
·
Others
Passive Fire Protection Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release Of
This Research Report by Grand View: https://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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