Industry Outlook and Trend Analysis
The Fire Protection Materials Market was worth USD 3.61 billion in the year of 2014 and is expected to register itself at a compound annual growth rate (CAGR) of 8.61% during the forecast period. Expanding usage of fire protection materials for different sorts of constructions inferable from the presentation of strict fire safety controls and construction laws is assessed to drive the market over the estimate time frame. Additionally, expanding awareness of public with respect to fire safety of homes and work environments is probably going to push the market throughout the following years. Fire assurance materials reduce the spread of toxic fumes, flames, and smoke and give individuals more opportunity to get away from the development site. Such materials likewise give added time to flame motors and fire motor faculty to protect individuals from a basic circumstance.
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Type Outlook and Trend Analysis
Sealant is foreseen to be the biggest type fragment over the conjecture time frame. Sealants are useful for insurance of development and extension joint in dividers and floors from flame. They can likewise be used where joints have high development ability, which is one of the key advantages of using sealants for protection from fire. Putty is useful as a part of both old and new construction, which makes it the quickest developing fire protection material. Putty ensures joints, piping, cables, and conduits from fire. Also, it enables control to smoke and harmful exhaust from spreading, which exhibit comparable risks as flame.
Application Outlook and Trend Analysis
Commercial construction is the biggest application fragment in the fire protection materials market. The portion is likewise the quickest developing application section attributable to expanding fire safety equipment regulations and usage of strict construction standards in development of malls, offices, hospitals, hotels, colleges, schools, universities, and shopping centers. The residential and industrial areas are probably going to be the biggest shoppers of fire protection materials for development inferable from quick development in populace and expanded mechanical movement, significantly in Asia Pacific nations of China and India. Additionally, increment in discretionary income and general fire safety awareness will drive the market.
Regional Outlook and Trend Analysis
Asia Pacific is foreseen to be the main territorial market throughout the following years. China and India have been seeing an expansion in modern movement because of government activities and quick populace growth. The Middle East and Africa is the second-quickest developing business sector. This can be credited to center of nations like Saudi Arabia and the United Arab Emirates on moving from oil driven economy into a business and tourism-driven economy for expansion of their monetary frameworks.
Competitive Insights
The leading players in the market are Sika AG, Morgan Advanced Materials, Hilti India Pvt Limited, AkzoNobel and BASF. Market players are focusing on creating high-performance products that can withstand extreme heat for a long period of time. This is done using advanced technologies and materials.
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The Fire Protection Materials Market is segmented as follows-
By Type:
Mortar
Sheets/Boards
Sealants
Spray
Putty
Others
By Application:
Commercial Construction
Residential Construction
Industrial Construction
By Region:
North America
The U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
Rest of South America
The Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?