Fire Door Market Future Demand, Business Strategies, Industry Growth, Regional Outlook, Challenges and Forecast

The global fire door market is slated to register momentous gains by 2027 on the back of the various residential and commercial construction initiatives being undertaken across the world. To give a much needed boost that would bring the economy out of the COVID-19 slump, several global governments are kicking off ambitious infrastructure initiatives while also making it easy for private players to undertake new construction projects.
Across the EU alone, the construction sector provides employment to more than 18 million individuals and contributes to approximately 9% of the European Union’s GDP. The industry also creates new employment opportunities, fuels economic growth, and offers solutions for climate, social, and energy challenges.
Irrespective of whether a building is for commercial purposes or residential purposes, fire doors are one of the most essential fixtures in the structures. These highly-specialized doors are strenuously tested against elements and are purpose-built to endure fires for as much a time as possible. Fire doors enable buildings to be compartmentalized and put a delay to the spread of the fire.
Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/1715
The overall fire door market is classified into different segments on the basis of material, product, end-use, application, regional landscape.
Based on material, the market is categorized into glass, steel, timber, gypsum, aluminum, vermiculate, and boards. Among these, the aluminum fire door market likely to showcase a CAGR of more than 5.6% through the forecast timeframe.
Aluminum is a widely used material for manufacturing fire rated door with intermediate materials such as glass, steel, and timber. Key properties such as high durability, long lasting color appeal, strength, and sustainability are driving material demand.
Request for customization @ https://www.gminsights.com/roc/1715
The vermiculate boards segment is projected to generate a revenue of more than $295.32 million by the end of 2027. The segment is likely to showcase a CAGR of more than 3.0% through the forecast timeframe to reach this valuation.
Increasing popularity of vermiculite boards free from toxic content such as formaldehyde and benzene likely to support material demand. Stringent government regulations pertaining to sustainable construction material likely to propel segment growth.
From a regional standpoint, the MEA fore door market is anticipated to witness a surge in product demand due to stringent government policies. These policies are forcing replacement of outdated and existing structures.
Recovery of real estate and construction activities in recent years will also support the product demand. Other factors driving regional demand include growth in transportation and government sectors, hospitality, retail, and residential verticals.
In the Gulf Cooperation Council (GCC), there are approximately 30 mega-construction projects as of early 2020. These projects represent more than $1 trillion in terms of investment. Over the next decade, these initiatives would help revitalize the GCC economies.