NEWPORT NEWS, Va., Nov. 16, 2018 /PRNewswire/ -- The global market for Passive Fire Protection (PFP) Materials is estimated to reach $30.2 billion by 2025. Growth in the market will be driven by the growing number of fire accidents, stringent fire safety regulations, and technological advances and product innovations.
The growing number of fire accidents worldwide in recent years has led to the implementation of increasingly stringent regulations related to fire safety across the globe. In this background, demand for fire management products such as passive fire protection (PFP) materials has grown rapidly over the last few years. PFP materials prevent the structure of a building from collapsing by containing the spread of fire and are increasingly becoming an indispensable part of the building disaster management system. Use of PFP materials in buildings and complex structures enhances the structural stability and offers additional protection to load bearing beams and columns which prolongs their crumbling in the event of a fire breakout. Apart from construction, other key end-use markets for PFP materials are oil and gas and electronics.
Sprays, boards, and thin film intumescent coatings are the most commonly used PFP materials to protect steel structures from fire. Intumescent thin-film coatings is one of the fastest growing market segments and is becoming a widely used substitute for boards and sprays. Water-based intumescent coatings are the most commonly used coatings for fireproofing steel.
The above findings are part of a comprehensive analysis of the global passive fire protection materials market published by Melvin Bright, which provides insights into key market segments such as coatings, bulkheads, cladding and panels, fire protection doors, sealants, fittings, sprays, boards, cables, ductworks, glazing systems, fire walls, and ceilings and partitions, among others. It also covers end-use markets such as construction, oil and gas, electronics, defense, automotive and transportation, chemical, energy and power, healthcare, waste management, and hospitality, among others. The study provides granular market information on the above market segments for all the major regional and country markets. The complete study can be availed at –
https://melvinbright.com/report/details/global-passive-fire-protection-materials-market-analysis-global
Melvin Bright is an independent provider of reliable and unbiased strategic market research for a multitude of technologies, products and services markets around the world. Our research reports and solutions offer high level of granularity in numerous global markets which help business leaders to identify and prioritize high growth opportunities in these markets. For more information, please visit www.melvinbright.com.
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SOURCE Melvin Bright