Aug 17, 2021   SOURCE: BusinessWire

$2.4 Bn Fire Stopping Materials Markets: Sealants, Mortar, Boards, Putty & Putty Pads, Cast-in Devices - Global Forecast to 2026 - Increasing Demand for Passive Fire Protection Systems - ResearchAndMarkets.com

The "Global Fire Stopping Materials Market by Type (Sealants, Mortar, Boards, Putty &Putty Pads, Cast-in Devices), by Application (Electrical, Mechanical, Plumbing), End-Use (Commercial, Industrial & Residential), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The fire stopping materials market size is estimated to be USD 1.4 billion in 2021 and is projected to reach USD 2.4 billion by 2026, at a CAGR of 11.6%

Factor such as increasing fire safety regulations will drive the fire stopping materials market. Price sensitivity in the emerging regions is a major restraint. However, development of innovative fire protection system will act as an opportunity for the market.

Sealants is estimated to be the largest type of fire stopping materials market in 2020

Firestop sealants are used to seal small opening/gaps through penetrants (pipes, ducts, cables) passing through the walls or floors of the building. The basic function of these sealants is to provide a barrier from flames and hot gas. Firestop sealants are of different types: Silicone, Ablative and Intumescent. Generally, firestop sealants are 25% to 50% elastomeric, indicating their expansion or movement capabilities.

This helps in maintaining stability in high or low temperatures and resistance against chemicals and moisture. Sealants are considered ideal for protecting plastic materials and pipes. Due to its versatile properties, firestop sealants are widely used as a fire stopping material.

Mechanical was the second largest application for fire stopping materials market in 2020

The fire stopping materials market size for mechanical applications accounted for the second-largest share of global fire stopping materials, in terms of value, in 2020 this was led by the demand from the construction industry.

Surge in the development of performance-oriented buildings has increased the demand for fire stopping materials in this application. Contractors and builders are now focusing on heating, ventilation, air-conditioning and energy-efficient system designs. This has derived the demand for installation of fire stopping materials, in order to build a well-versed structure with all aspects.

In order to prevent the loss of property and goods, the use of fire stopping materials has increased. Various fire-stop boards, sheets and pillows are used to fire-proof the structures in the buildings. Companies are now also manufacturing fire doors with fire-stopping materials already installed. Intumescent sealants are also used to fire-proof structures.

North America is estimated to be the largest fire stopping materials market in 2020, in terms of value.

The North American market accounted for the largest share globally. It is experiencing high growth on account of the increased demand for these materials in new and existing buildings.

Major factors that is influencing the growth of this market is the growing construction industry, especially the rise of skyscrapers in emerging economies. An increased number of specialized fire contractors who know the right amount of material to buy and provide written specifications for products by architect/specifiers to become a part of fire-resistance-rated assembly, is also putting a positive impact on the market. According to industry experts, the fire stopping materials market is influenced by the contractors, who are certified for fire protection practices. The market growth in this region is mostly driven by stricter building codes and policies.

Some of the leading players in this market include Hilti Corporation (US), 3M (US), Etex Group (Belgium), Knauf Insulation (US), Morgan Advanced Materials (UK), Specified Technologies Inc. (US), and RectorSeal Corporation (US).

Premium Insights

  • Growing Global Construction Activities Propelling Market for Fire Stopping Materials
  • North America Estimated to Lead Fire Stopping Materials Market Between 2021 and 2026
  • Commercial End-Use Dominated Fire Stopping Materials Market in All Regions in 2020
  • US Accounted for Largest Share of Fire Stopping Materials Market in North America in 2020
  • Fire Stopping Materials Market in Argentina to Witness Highest CAGR Between 2021 and 2026

Market Dynamics

Drivers

  • Increasing Fire Safety Regulations
  • Rising Number of Fire Incidents
  • Adoption of Fire Stopping Materials in Emerging Markets

Restraints

  • Economic Slowdown and COVID-19 Impact on Construction Industry
  • Price Sensitivity in Emerging Regions

Opportunities

  • Development of Innovative Fire Stopping Systems
  • Increasing Demand for Passive Fire Protection Systems

Challenges

  • Non-Compliance with Regulations in Emerging Markets
  • Technical Complexity in Installing Fire Stopping Systems

Case Studies

  • Case Study on Fire Protection Test by Gerco-Fas
  • Case Study on Pitt-Char Xp by Ppg Industries

Companies Mentioned

  • 3M
  • Abesco Fire Ltd.
  • Basf Se
  • Den Braven
  • Encon Insulation Ltd.
  • Etex Group
  • Everkem Diversified Products
  • Fireseals Direct
  • Fischerwerke GmbH & Co. Kg
  • Hilti Corporation
  • Holdrite
  • Knauf Insulation GmbH
  • Lloyd Insulations (India) Ltd.
  • Morgan Advanced Materials
  • Rectorseal Corporation
  • Rockwool International As
  • Rolf Kuhn GmbH (Germany)
  • Rpm International Inc.
  • Saint-Gobain Group
  • Sika Ag
  • Specified Technologies Inc.
  • Supremex Equipments
  • Tenmat Ltd.
  • Unique Fire Stop Products Inc.
  • Walraven

For more information about this report visit https://www.researchandmarkets.com/r/z88qyh