Passive Fire Protection Materials Market Analysis

Passive Fire Protection Materials Market Analysis

Intumescent coatings held a decent market share in 2020 and will grow at a rate of over 7.5% up to 2027. They act as an excellent fire-resistant material across various end-user industries including construction, oil & gas, manufacturing, automotive, aerospace, and warehousing. This factor will make noteworthy contributions to the passive fire protection materials market revenue in near future.
 

Intumescent coatings offer cost-effective, speedy, and quality finish in wood & steel structural protection compared to traditional protective coatings against fire, thus positively impacting the overall market size. The expansion of oil & gas exploration activities in Asia Pacific and North America will likely foster the demand for intumescent coatings in near future.
 

The rapidly growing population in Asia Pacific has led to industrialization & urbanization, which will subsequently give rise to building & construction activities in the region. Consistent efforts of the government and regulatory bodies coupled with public awareness of safety are likely to boost the overall passive fire protection materials industry share. The market is anticipated to reach over USD 5.6 billion by 2027.
 

Compartmentation held the largest revenue share in the passive fire protection materials market, which accounted for over 48% in 2020 due to significant product use across various end-user industries and its mode of application by separating fire compartments from one another to restrict damage and subsequently provide adequate time to escape. The increasing number of high-rise apartments in emerging economies will positively contribute to the market share in near future.
 

Asia Pacific will reach over USD 2.2 billion by 2027. The rapidly growing automotive demand in Asia Pacific owing to the growing population and improving socio-economic factors will subsequently drive the passive fire protection materials market share in near future. Countries including India, China, Indonesia, and South Korea are investing in commercial construction projects, which will stimulate product demand across the region. Furthermore, the development of shale reserves in China is likely to boost oil & gas exploration activities in near future.