The
global passive fire protection market is expected to reach USD 7.13 billion by
2022, according to a new report by Grand View Research, Inc. Growing demand for
upscale residential projects is expected to drive the passive fire protection
market.
Rising
investment in automation and digitization of the industries coupled with
growing use of passive fire protection in warehousing application is expected
to drive growth over the forecast period. In addition, rising use of the
product in automotive and shipbuilding is expected to drive the demand in
Europe and North America. Growing need of minimizing the asset loss is also
expected to fuel product demand over the next seven years.
In depth research report on Passive Fire Protection
Market
Further key findings from the report suggest:
·
Intumescent coating segment is
expected to grow at a CAGR of over 4.0% from 2015 to 2022. Rising investment by
the oil & gas firms in improved exploration technologies including
hydraulic fracturing and horizontal drilling is expected to drive the market
demand. Intumescent coatings are being widely used in manufacturing and power
industry.
·
Industrial sector accounted for
over 20.0% share of the passive fire protection market owing to capacity
expansion and technology upgradation. In addition, government policies
including the grant of incentives and subsidies to promote the development of
new manufacturing facilities in emerging economies including India, Brazil and
Africa is expected to augment demand.
·
North America market is
expected to grow at a CAGR of 4.5% from 2015 to 2022. Rising investment to
improve their downstream capability and upstream operations prospect is
expected to drive growth. The aerospace industry is expected to witness
significant growth in the region owing to lower interest rates and availability
of financing options.
·
Europe demand for passive fire
protection was valued at over USD 1.30 billion in 2014. Europe is expected to
witness a steady growth in consumption from warehousing industry owing to
rising investment to improve logistics infrastructure coupled with rising
government initiatives to improve freight transportation services in the
region. However, reducing oil imports coupled with stiff competition from new
refining facilities in Asia Pacific and the Middle East is expected to affect
the global share of Europe in oil & gas industry over the forecast period.
This, in turn, is expected to pose a challenge to market growth over next seven
years.
·
Nullifire is a key market
player which manufactures intumescent coatings, foams, fire curtains, seal
bags, sealants and putty pads. In July 2011, Nullifire launched new service
which helps public sector clients to ensure maximum fire resistance. Key
companies include Lloyd Insulations (India) Ltd., Nullifire, Hempel,
Sherwin-Williams, HILTI, and Carboline.
Grand
View Research has segmented the global passive fire protection market on the
basis of product, application and region:
Global Passive Fire Protection Product Outlook
(Revenue, USD Million, 2012 - 2022)
·
Cementitious Material
·
Intumescent Coating
·
Fireproofing Cladding
·
Others
Global Passive Fire Protection Application Outlook
(Revenue, USD Million, 2012 - 2022)
·
Oil & Gas
·
Construction
·
Industrial
·
Warehousing
·
Others
Global Passive Fire Protection Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
·
Latin America
o
Brazil
·
Middle East & Africa
Browse more research reports of this category:
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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment