Mar 4, 2022   SOURCE: BusinessWire

Outlook on the Fire Stopping Materials Global Market to 2030 - Advancement in Fire Stopping Materials Presents Opportunities - ResearchAndMarkets.com

The "Fire Stopping Materials Market: Opportunity Analysis and Industry Forecast" report has been added to ResearchAndMarkets.com's offering.

The global fire stopping material market size was valued at $1,352.8 million in 2020, and is projected to reach $2,002.4 million by 2030, registering a CAGR of 4.1% from 2021 to 2030.

Fire stopping materials are used to protect people in a building or establishment from fire hazards by controlling, detecting, and controlling the spread of fire. These materials assist in the extinguishment of smoke or fire and the alerting of building inhabitants, reducing property and life damage. Materials such as sealants, mortar and putty and putty pads prevent spread of fire and smoke and buy time for safe evacuation and reduce property damage. These fire stopping materials are widely used in commercial, residential and industrial sectors.

The rise in construction sector such as residential and commercial and also increase in industrial sector such as oil and gas, petrochemicals and food industry act as a major driver for fire stopping materials. Construction of new residential and commercials are expected to provide new prospects for fire safety materials. For employee safety, fire protection systems are commonly used in commercial and industrial areas. Furthermore, the market is driven by an increase in the number of property losses as a result of fires. Hence, many organizations and residential projects have been forced to utilize fire stopping materials to reduce fire hazards and property losses as a result of the rising norm. Such factors will support market growth during the forecast period.

Government investments in construction sectors will fuel the fire stopping materials market growth. For instance, in July 2021, Canada's federal government and the Canada Housing & Mortgage Corporation have committed $35 million to the development of over 100 new residential units in Toronto. The project will be part of a 15-storey apartment at 2346 Weston Road, North York district. Such investments will create growth opportunity for fire stopping materials during the forecast period.

Various key players are launching fire stopping materials such as sealants and boards to prevent spreading of fire and reduce fire hazards. For instance, in November 2021, Rectorseal has launched Orange Draft Block sealant for North America costumers. This fire stopping sealant has ability to expand up to three times to fill openings and insulate pipe and cables. Such factors are expected to provide lucrative growth in the market during the forecast period.

The global fire stopping materials market is segmented on the basis of type, application, end-user, and region. On the basis of types, the market is segmented into sealants, mortar, boards, and others. Application segmentation includes electrical, mechanical, and plumbing. By end-user, the market is segmented into residential, commercial, and industrial. Region wise, the fire stopping materials market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Benefits

  • The report provides an extensive analysis of the current and emerging fire stopping materials market trends and dynamics.
  • In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2030.
  • Extensive analysis of the fire stopping materials market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
  • The global fire stopping materials market forecast analysis from 2020 to 2030 is included in the report.
  • The key market players within fire stopping materials market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the fire stopping materials industry.

Market Dynamics

Drivers

  • Increase in demand for passive fire protection systems
  • Increased emphasis on fire safety codes and regulations
  • Rise in residential and commercial sectors

Restraint

  • Fluctuation in raw material prices

Opportunity

  • Advancement in fire stopping materials

Market Segmentation

By Type

  • Sealants
  • Mortar
  • Boards
  • Others

By Application

  • Electrical
  • Mechanical
  • Plumbing

By End-user

  • Residential
  • Commercial
  • Industrial

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Players

  • 3M Company
  • BASF SE
  • Etex Group
  • Hilti Group
  • Knauf Insulation
  • Morgan Advanced Materials
  • RectorSeal Corporation
  • RPM International, Inc.
  • Sika AG
  • Specified Technologies, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/k0qto3