The Fireproofing Materials Market, as per the SNS Insider report, was valued at USD 1.074 billion in 2023. Industry experts forecast a considerable increase to USD 2.287 billion by 2031, reflecting a steady compound annual growth rate (CAGR) of 9.9% throughout the projected period from 2024 to 2031. Commercial buildings are a key driver of growth in the fireproofing materials market. These materials are used for compartmentation, preventing fires from spreading within a structure. Market expansion is further fueled by trends within the construction industry itself. Rapid urbanization and infrastructure development projects across the globe are creating a surge in demand for construction materials. Fireproofing materials play a vital role in ensuring the safety of buildings and their occupants during a fire event. Furthermore, as the construction industry embraces sustainability practices, fireproofing materials with eco-friendly properties are gaining traction.
These innovative materials minimize environmental impact throughout their lifecycle, from production to disposal, while still offering superior fire protection. For example, the introduction of ALEC² PyroWall™ marks a revolutionary step forward in fire protection for the FRP (Fiber-Reinforced Plastic) manufacturing industry. This groundbreaking fireproof material, unlike any other FRP composite on the market, offers exceptional protection for FRP products against heat and fire events. ALEC² PyroWall™'s fireproofing capabilities pave the way for a significantly safer and more sustainable future across diverse FRP applications and industries.
April 30, 2024 – The U.S. Chemical Safety and Hazard Investigation Board (CSB) today commended the National Fire Protection Association (NFPA) for its efforts to prevent fires and explosions involving hazardous waste.
The NFPA published a new recommended practice, NFPA 401, in December 2023. This document, titled "Recommended Practice for the Prevention of Fires and Uncontrolled Chemical Reactions Associated with the Handling of Hazardous Waste," became effective on December 21, 2023
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Some of the Key Players Included are:
Some of the major players in the Vibration Control System Market are 3M (US), Akzo Nobel N.V. (Netherlands), Isolatek International (US), Sika AG (Switzerland), Etex Group (Belgium), PPG Industries, Inc. (US), BASF SE (Germany), Carboline (US), RPM International Inc. (US), Jotun Group (Norway), Iris Coatings S.r.l (Italy), Knauf Insulation (US), Hempel Group (Denmark), W.R. Grace & Co.(US), Rolf Kuhn GmbH (Germany), Ugam Chemicals (India), Intumescent Systems Ltd (UK), PK Companies (US), FlameOFF Coatings Inc.(US), Sherwin-williams Campany and other players.
Recent Developments:
l In February 2024: Sustainability champion Saint-Gobain bolstered their fireproofing and insulation offerings through the acquisition of ICC, a manufacturer of eco-friendly insulation solutions. ICC's products utilize plant-based fibers and recycled materials, aligning perfectly with Saint-Gobain's commitment to reaching net-zero carbon emissions by 2050.
Market Segmentation
The fireproofing materials market can be segmented by coating type and end-user industry. Each segment presents a distinct growth trajectory, driven by specific factors.
By Coating Type: Intumescent coatings dominated the fireproofing materials market in 2023. These innovative paints boast a unique property: when exposed to heat, they expand significantly, forming a thick, heat-resistant barrier. This expansion is often fueled by sodium silicates within the coating. Under intense heat, the intumescent paint undergoes a dramatic transformation, thickening considerably.
By End-Use: Commercial construction is the largest application of fireproofing materials. It is also known as institutional construction and comprises healthcare facilities (hospitals and laboratories), banks, hotels, education institutions (schools and colleges), and government-owned offices. Commercial construction is increasing in both developed and developing countries.
By Coating Type:
l Intumescent coatings
l Thin film
l Thick film
l Cementitious coatings
l Cement-based
l Gypsum based
By End-Use
l Commercial
l Industrial
l Onshore
l Offshore
l Residential
The Asia-Pacific (APAC) region dominated the fireproofing materials market in 2023.
This region, rising with developing nations like China and India, is witnessing a surge in the fireproofing materials industry, presenting a plethora of opportunities for manufacturers. This growth stems from a multitude of factors. The rising population in APAC necessitates the construction of new buildings and industrial facilities, leading to a direct rise in demand for fireproofing solutions. Furthermore, the industry is constantly innovating. The development of novel technologies and fire safety products ensures that construction practices prioritize safety.
Key Takeaways for the Fireproofing Materials Market Study
l Rapid urbanization and a surge in infrastructure development projects are creating a global demand for construction materials.
l Sustainability in the construction industry embraces eco-friendly practices, the demand for sustainable fireproofing materials is increasing.
l Manufacturers are developing innovative solutions that minimize environmental impact throughout the product lifecycle.
l The Asia-Pacific region, driven by a rising population and booming construction activity, presents a significant growth opportunity for fireproofing material manufacturers.
l The introduction of advanced materials like ALEC² PyroWall™ demonstrates the commitment to creating fire-resistant solutions that cater to specific industry needs.
Recent Developments:
l In February 2024: Sustainability champion Saint-Gobain bolstered their fireproofing and insulation offerings through the acquisition of ICC, a manufacturer of eco-friendly insulation solutions. ICC's products utilize plant-based fibers and recycled materials, aligning perfectly with Saint-Gobain's commitment to reaching net-zero carbon emissions by 2050.
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