USD 0.95 billion
Report ID: SQMIG15E2127 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 91 | Figures: 76
Passive Fire Protection Coatings Market size was valued at USD 0.95 billion in 2021 and is poised to grow from USD 0.99 billion in 2022 to USD 6 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).
Passive fire protection (PFP) refers to building or structure components that slow or obstruct the spread of fire or smoke without requiring system activation or movement. Floor ceilings and roofs, fire doors, windows, wall assemblies, fire-resistant coatings, and other fire and smoke control assemblies are instances of passive systems. This market is anticipated to be driven by increasing oil and gas company investments in exploration and production, as well as technological developments, during the forecast period. As an instance, the oil and gas industry has a high demand for passive fire prevention coatings in equipment protection and other offshore and onshore applications. Furthermore, the demand is anticipated to be boosted by an increase in demand from end-use sectors such as building and construction and transportation.
US Passive Fire Protection Coatings Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 0.95 billion
Oil & Gas
Oil & Gas
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The Global Passive Fire Protection Coatings Market is segmented based on product, end user, technology, and region. Based product Passive Fire Protection Coatings Market is categorized into Cementitious Materials, Intumescent Coatings, Fireproofing Cladding, and Others. By end user Passive Fire Protection Coatings Market is segmented Oil & Gas, Infrastructure & Construction, Industrial, Transportation, and Others. Based on technology, the Passive Fire Protection Coatings Market is segmented into water based and solvent based. Based on region Passive Fire Protection Coatings Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Passive Fire Protection Coatings Market Analysis by Product
The market is segmented into cementitious materials, intumescent coatings, fireproofing cladding, and others based on the product. The cementitious materials segment dominated the passive fire protection market and is expected to continue to do so during the forecast period. To protect steel elements in the construction of a structure, a cementitious material can be applied. This material is composed of cement or gypsum, and when wet, it forms a tough, fire-resistant surface. Cementitious sprays are sprayed in multiple layers to preserve the underlying material. Once completed, it creates a barrier that slows the rate of heat transmission in the event of a fire. Cementitious material remains one of the most cost-effective options for fireproofing structures.
Passive Fire Protection Coatings Market Analysis by End User
Oil and gas industries use intumescent coatings to protect their onshore and offshore steel buildings from fire, which necessitates solutions that can resist temperatures of 1,100°C or above. They are also used to protect structural steel from moisture, chemicals, and fires caused by pools and jets. PFP coatings are becoming increasingly important in the oil and gas sector. When exposed to high temperatures, the coatings on industrial oil and gas facilities expand to form an insulating layer of carbon char. This allows the steel to retain its load-bearing capability for up to four hours longer during a fire, offering occupants more time to get away.
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North America held the significant global Passive Fire Protection Coatings market share in 2021, due to the stringent regulatory environment and growing awareness of fire safety among end users, the penetration of passive fire protection coatings in the United States is high. A growing number of large-scale infrastructure investment projects, including hotels and hospitals, in New York, Missouri, and Los Angeles are expected to boost the construction industry, driving demand for passive fire protection products in the country's residential, commercial, and industrial buildings.
Growing demand for the product from industries such as construction, industrial, and warehousing, especially in China and India, is anticipated to propel the market in the Asia Pacific. Rising demand for fire-safe infrastructures, such as commercial and residential buildings, and rising consumer awareness are anticipated to push market demand.
In Europe, the implementation of stringent fire safety regulations is expected to increase the use of passive fire protection products in construction activities. The growing emphasis on improving building fire safety standards is expected to drive demand for passive fire protection coatings over the forecast period. Growing investments by aerospace and automotive industries to improve vehicle and aircraft fire safety standards are expected to drive demand for passive fire protection coating in the region over the forecast period.
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Passive Fire Protection Coatings Market Driver
Passive Fire Protection Coatings Market Restraint
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Manufacturers are increasingly attempting to distinguish and develop their products in order to gain a competitive advantage. Manufacturers are focusing on other important product aspects such as product usability and operational life extension. 3M, Akzo Nobel N.V., Bostik, Sika AG, Jotun, and Hempel A/S are the market's major players.
Passive Fire Protection Coatings Market Top Player’s Company Profiles
Passive Fire Protection Coatings Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Passive Fire Protection Coatings Market analysis, the increasing demand for steel in the building and construction, oil and gas, automotive, marine, and aviation sectors is driving expansion in the North American market. Because of the rising demand for organic and inorganic coatings in the building, electrical, and electronics sectors, the passive Fire Protection Coatings category is expected to lead the market in this area. Because of these reasons, the United States of America, Canada, and Mexico are expected to be the market's largest contributors over the forecast period.
|Market size value in 2021||USD 0.95 billion|
|Market size value in 2030||USD 0.99 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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MARKET DYNAMICS & OUTLOOK
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For the Global Passive Fire Protection Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Passive Fire Protection Coatings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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