Fire Stopping Material Market

Fire Stopping Material Market(2023-2028):

Fire Stopping Material Market was estimated at USD 1.33 billion in 2022 and is estimated to grow at a CAGR of 10.50% to reach a value of USD 2.39 billion by 2028. 

The terms fire stopping and firestop describe the act of filling openings in a passive fire protection system and the materials used to do so. As they move through floors and firewalls, pipes, conduits, ductwork, and exhaust systems frequently leave gaps in their path. These gaps provide pathways for gases, smoke, and flames to spread in the case of a fire. Putting out a fire stops the spread. Firestopping is essential at pipe penetrations, joints, tops of walls, curtain walls, and slab edges. There are numerous varieties of firestop materials, each created to satisfy certain needs. Typically, silicones, mineral fibers, rubbers, intumescents, or cementitious mortars are used to make firestops. Regardless of the material, all firestops shall be examined and approved by one of the designated laboratories.

Dynamics of the Fire-Stopping Material Market:

Rapid urbanization, the rising population, and the expanding construction & building industry are the major factors contributing to the growth of the Global Fire Stopping Material Market. Additionally, the growing incidents of fire accidents and the government's initiatives and stringent rules and regulations making fire-stop materials mandatory in commercial and industrial locations to prevent and control fire accidents are accelerating the growth of the Global Fire Stopping Material Market. Furthermore, consumer expenditure has increased due to changing living standards and expanding economies. Furthermore, due to consumers' increased concern for the safety of their families, the consumers are installing fire-stopping in their residential areas, too, contributing to the growth of the Fire Stopping Material Market. However, care should be taken, proper fire suppression tools are used, and reputed fire-stopping firms provide materials and expertise.

Drivers of the Fire-Stopping Material Market:

Fire suppression is an important aspect of building safety. They are necessary to aid in stopping the spread of fire among the various areas of a building. Without properly constructed fire stops, smoke and flames can swiftly spread through a structure, causing damage and endangering the lives of any residents. Fire stops assist emergency services in putting out the fire before it gets out of hand. By combining fireproof and fire-retardant materials, Firestop can help safeguard the building from fire damage and keep everyone safe. The construction sector in the United States is one of the largest in the world. The US Census Bureau and the US Department of Dwelling and Urban Development estimate that in February 2022, approximately 1,859,000 building permits and 1,769,000 housing permits were authorized. According to the most recent information published by the US Census Bureau, expenditure on construction increased to USD 1,704.4 billion from USD 1,533.3 billion in February 2021. The increasing number of construction buildings worldwide generates demand for Fire Stopping Materials.

The growing incidents of fire accidents accelerate the growth of the Fire Stopping Material Market:

The National Fire Protection Association estimates more than 400,000 residential fires in the US annually. Fire incidents create a deadly atmosphere for the individuals who experience them. In addition to destroying property, it poses a risk to human life. Asian developing countries such as India have a poor track record for workplace safety standards and poor implementation of building laws, which contributes to the country's high rate of fire occurrences. A few factors contributing to the country's fire hazard-related destruction include dense residential development, tangled wiring, and a lack of application of fire safety regulations. Building construction in India has increased significantly, particularly for high-rise structures. Residential buildings are far more difficult to put out fires because of how they are built and tall. Even some of the high-rise structures lack sufficient built-in fire safety measures. According to research from Accidental Deaths and Suicides in India (ADSI), maintained by the National Crime Records Bureau, fire-related incidents have resulted in the deaths of 35 persons every day on average in India over the past five years. In India, there were over 9,110 fire-related deaths in 2020. Hence it is extremely important to take precautions and potentially prevent a disaster caused by fire.

Additionally, purchasing fire-stopping materials is essential, especially for big-size residential houses. Relying on these innovative fire-stopping materials can be quite helpful, especially for working professionals, because they can't stay in the house all day and regularly check on it. The government is also implementing policies to make fire-stopping equipment mandatory in commercial and huge residential areas. Hence, these factors contribute to the growth of the Fire Stopping Material Market worldwide.

FIRE-STOPPING MATERIAL MARKET REPORT COVERAGE:

Recent Developments in the Global Fire-Stopping Material Market:

In January 2022, by acquiring URSA, a European leader in insulation solutions and a thermal and acoustic insulation expert, Etex reinforces its portfolio move toward lightweight and sustainable construction solutions. Through the agreement, Etex gains a new platform for commercial expansion and the chance to keep taking a leading position in resolving sustainability issues. In addition, Etex will expand its capacity to deliver systems and solutions by bringing insulation expertise to its plasterboard, fiber-cement, passive fire protection, and modular offerings.

In June 2022, Sherwin-Williams signed an agreement to acquire Gross & Perthun GmbH, a creator, manufacturer, and distributor of coatings for the heavy equipment and transportation industries. Gross & Perthun GmbH will join the Sherwin-Williams Performance Coatings Group reportable segment with about 100 employees and annual revenues of about $50 million.

Market Segmentation 

Fire Stopping Material Market – By Type:

• Putty &Putty Pads
• Sealants
• Boards
• Mortar
• Cast-in Devices

Based on Type, the Putty &Putty Pads segment is expected to grow significantly during the forecast period. Firestop Putty is a market-leading elastomeric paste with quick-acting intumescent qualities that seal openings around through-penetrations and prevent the passage of smoke, hazardous gases, and fire. Cables, conduits, and pipes that pass through the fire-resistive barrier can be wrapped with putty sticks. Additionally, a contractor can usually fit intumescent fire-stop pillows and blocks into big penetrations by stacking and shaping the materials.

Fire Stopping Material Market –By Application:

• Mechanical

• Electrical

• Plumbing

Based on the Application, the Electrical segment is expected to grow significantly during the forecast period. Cables and wires passing across several fire sections and electrical conduits must be secured with fire stops. Circuit integrity is directly related to fire resistance, implying that a component normally performs for a long time before it is exposed to fire. Fire-stopping materials are frequently installed at cable lines with trays or conduits, electronic appliances close to high-temperature areas, or objects that high-temperature substance drops could harm.

Fire Stopping Material Market – By End-Use:

• Industrial

• Commercial

• Residential

Based on End-Use, the Commercial segment is expected to hold a significant share during the forecast period. It is important to keep commercial buildings and the people inside them safe since they are frequently busy locations where people come and go. This is especially important because incidents can frequently arise in these settings. Furthermore, since fire-stopping is a crucial component of passive fire protection, it must be installed by qualified specialists to ensure that the system is installed properly.

Fire Stopping Material Market - By Region:

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East

• Africa

The rapid urbanization and industrialization in the region are contributing to the growth of the Fire Stopping Material Market in the Asia Pacific. In addition, the growing building and construction industry in the various countries of Asia Pacific is generating a demand for fire-stopping materials in the region. Moreover, the increasing R&D activities to enhance fire-stopping materials have encouraged several industries to install fire-stopping materials to prevent fire dangers. Hence, these factors influence the growth of the Fire Stopping Material Market in the region.

Impact of COVID-19 on Fire Stopping Material Market:

The COVID-19 pandemic has affected almost every industry around the world. The market for Fired-stopping materials has been affected negatively due to disruptions in the construction industry and the variations in the material costs during the pandemic. Moreover, the interruptions in the supply chain during the pandemic adversely affected the fire-stopping materials industry to a certain extent. However, the industry has recovered slowly with an increase in the construction and building industry.

Fire Stopping Material Market Key Players:

• TENMAT Ltd

• Tremco Incorporated

• HKO Group (A Subsidiary of Saint-Gobain)

• 3M

• Trelleborg

• BASF SE

• Isolatek International

• Specified Technologies Inc

• Rolf Kuhn GmbH

• Morgan Advanced Materials

• Akzo Nobel N.V.

• Unifrax

• Hilti

• RectorSeal

• Flamecheck International

• Sika AG

• ROCKWOOL International A/S

• PPG Industries, Inc.

• Etex Group

• The Sherwin-Williams Company