San Francisco, 10 September 2018 - 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.
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.
Access Full
Research Report by Grand View Research:
www.grandviewresearch.com/industry-analysis/passive-fire-protection-market
www.grandviewresearch.com/industry-analysis/passive-fire-protection-market
Further
key findings from the study 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.
Browse more reports of this category by
Grand View Research:
www.grandviewresearch.com/industry/hvac-and-construction-technologies
www.grandviewresearch.com/industry/hvac-and-construction-technologies
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
Access press release by Grand View
Research:
www.grandviewresearch.com/press-release/global-passive-fire-protection-market
www.grandviewresearch.com/press-release/global-passive-fire-protection-market
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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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