Passive Fire Protection Market Global Industry Analysis, By System, Growth Potential, Share, Top Key Players, Trends & Forecast

The passive fire protection materials market is anticipated to witness robust growth by 2027 due to prominent demand for fire protection across the globe. Additionally, soaring consumer interest in efficient fire-resistant materials is expected to further support market growth through the forecast timeline.
Passive fire protection is a crucial part of a fire safety strategy. It is incorporated into the structure to safeguard the lives of people and curb the financial impact of damage caused to a building and its contents.
Passive fire protection provides stability to the structure and is built into the floors and walls to compartmentalize the building into areas of manageable risk. These areas are designed to keep the fire from spreading and growing, allowing occupants to escape as well as offering protection to firefighters. Subsequently, prevalent adoption of passive fire protection to effectively contain or impede fire has fostered product development, thereby propelling business growth.
Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/2305
The passive fire protection materials market has been categorized on the basis of product, application, industry, and region. In terms of product, the market has further been bifurcated into sealants, foams and boards, mortars, cementitious sprays, and putties, intumescent coatings, and others.
The sealants segment is estimated to garner over 13% revenue share in the market by the end of 2027, progressing at a strong CAGR through the assessment timeframe. Extensive application of sealants in the oil & gas industry is set to fuel segmental growth in the coming years.
In 2020, the others segment accounted for a revenue share of over 20% in the market and is projected to grow at a notable pace over 2021-2027. Increasing demand for other products like fire bricks is likely to propel segmental development over the following years.
Request for customization @ https://www.gminsights.com/roc/2305
From the application perspective, the passive fire protection materials market has been divided into structural, firestopping materials, opening protection, and compartmentation. The firestopping materials segment is anticipated to grow at a CAGR of approximately 5.5% through the analysis period to reach a considerable valuation by the end of 2027.
By industry, the market has been segregated into oil and gas, transportation, building and construction, and others. The others segment held a revenue share of above 4.64% in the market in 2020 and is speculated to register profitable growth by 2027.
On the regional spectrum, the Latin America passive fire protection materials market is anticipated to grow at a CAGR of more than 5.9% through the study timeframe to attain a considerable share in the overall market by 2027. Rising construction activities in leading economies across LATAM, such as Brazil and Mexico, are foreseen to stimulate regional market expansion over the forthcoming years.
Meanwhile, Middle East & Africa accounted for around 5% of the passive fire protection materials market in terms of revenue in 2020 and is calculated to expand at a steady CAGR through the forecast period. Proliferating building & construction and oil & gas industries across MEA are slated to propel market uptake in the future.