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.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/passive-fire-protection-market
U.S. passive fire protection market revenue, by application, 2012-2022 (USD Million)
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.
Browse All Reports of
this category @ http://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
·
U.S.
·
Europe
·
Germany
·
Asia Pacific
·
China
·
Latin America
·
Brazil
·
Middle East & Africa
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