Fire Protection Materials Market Value and Growth:
The size of the global market was around USD 4.96 Billion by revenue, at the end of 2020. It is expected to grow at a CAGR of 8.47 % to reach close to USD 7.45 Billion by the end of the forecast period.
Fire Protection Materials Market Drivers and Restraints:
The global market is mainly driven by the need for fire safety in buildings. Also, the increased fire safety regulations imposed by government agencies all across the globe is an added factor to the growth of this market.However, the costs associated with the setup of safety equipment in the public and commercial buildings make the market slightly decelerate the pace of growth. Also, the global market concentration in regions like the Asia Pacific and North America restraints the market expansion into regions like Africa and the Middle East.
Fire Protection Materials Market Segmentation Analysis:
Based on the type of fire protection materials, the global market is segmented into Mortar, Preformed Device, Cast-in Devices, Sheets/Boards, Spray, Sealants & Fillers, Putty, and Others. Among the mentioned types, the Sealants & Fillers segment is the largest and is expected to have the fastest growth rate in the forecast, as specified earlier period. The growth is mainly due to the increasing usage of steel infrastructures.
Based on the application of these materials, the market is categorized into Commercial Construction, Industrial Construction, and Residential Construction. Of the mentioned applications, the commercial construction segment is the largest and has to lead the global market for fire protection materials in 2020. This segment is expected to have the fastest growth rate in the forecast period, mainly due to the increase in the fire safety regulations in public places like hospitals, offices, and schools.
Fire Protection Materials Market Geographical Analysis:
By geography, the market is segmented as Latin America, Europe, Asia Pacific, North America, and Middle-East & Africa. North America is in the lead of the Global Fire Protection Materials Market by both value and volume, as of 2020. The situation of many key market players in this region with well-established infrastructure is the main reason for its market position. This region is only the second fastest growing region in the Global Fire Protection Materials Market, following the Asia Pacific.
Europe is next in the lead of the global market in the year 2020. The presence of a vast customer base in and around this region is helping in the growth of the Fire Protection Materials Market in Europe. However, this region is only the third fastest growing region in the global market in the projected forecast period.The Asia Pacific region holds the third largest share of the Global Fire Protection Materials Market in the year of 2020, in terms of value and volume. The regional advantages offered this region, such as ease of company setup, cheap resources, and a large number of the skilled population are the major reasons for the fast-emerging industries in this region, hence the region’s position in the global market. Also, the fast-developing economies like India, Japan, and China are the main reason for the developing regional market. These reasons make this region the fastest growing regional market in the proposed forecast period, followed by Europe.On the other hand, the Middle East & Africa and Latin America regions, being in the slow developing countries, have fewer opportunities for market growth. Hence, the market growth is at a slow pace in these regions.
Fire Protection Materials Market Key Market Players:
By the end of 2020 3M (U.S.), Hempel (Denmark), Etex (Belgium), Rolf Kuhn (Germany), Tremco Inc. (U.S.), Morgan Advanced Materials (U.K.), Rectorseal (U.S.), USG Corp (U.S.), BASF SE (Germany), Isolatek International (U.S.), Hilti (U.S.), Akzo Nobel (Netherlands), W.R. Grace & Co. (U.S.), PPG Industries Inc. (U.S.), and Specified Technologies Inc. (U.S.) are the leading shareholders of the global market for Fire Protection Materials Market. There is a constant competition between these companies regarding the pricing and quality of the product.
Fire Protection Materials Market Research Report Key Highlights:
The evaluation of the current product and services market and the future implications of the market.
Address the matter by better understanding the market through size estimates and CAGR analysis to forecast the future market.
More extensive segmentation to better understand the dynamics of the market at a minimal level by dividing the market to smaller segments.
Address the key market challenges, drivers, and restraints to provide insights for gaining market share.
Porter’s Five Forces are used to analyze the factors responsible for the shaping of the industry as it is as a result of the competitive environment.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Sealants & Fillers
5.1.6 Preformed Device
5.1.8 Cast-in Devices
5.1.10 Y-o-Y Growth Analysis, By Type
5.1.11 Market Attractiveness Analysis, By Type
5.1.12 Market Share Analysis, By Type
5.2.2 Commercial Construction
5.2.3 Industrial Construction
5.2.4 Residential Construction
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Application
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
6.1.5 Market Share Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
184.108.40.206 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.4 Rolf Kuhn
8.5 Tremco Inc.
8.6 Morgan Advanced Materials
8.8 USG Corp
8.9 BASF SE
8.10 Isolatek International
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures