Passive Fire Protection Coatings Market Set to Soar Past USD 6 Billion by 2030
The global Passive Fire Protection Coatings market size is expected to reach USD 6 billion by 2030 and exhibit a CAGR of 4% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing stringency of fire safety regulations, growing awareness of the importance of fire protection in buildings and infrastructure, rising demand for fire-resistant materials and systems, advancements in fire protection technologies and materials, rising adoption of passive fire protection measures in industrial settings, are fueling the Market’s growth.
Westford USA, Aug. 28, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Passive Fire Protection Coatings market, increasing use of intumescent coatings for enhanced fire protection, growing demand for water-based and eco-friendly fire protection coatings, rising adoption of thin film intumescent coatings for aesthetic appeal, development of innovative fire-resistant coatings with improved performance, integration of smart technologies in fire protection coatings, expanding applications of passive fire protection coatings in various industries, rising focus on fire protection in the oil and gas sector, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Passive Fire Protection Coatings Market”
- Pages – 157
- Tables – 92
- Figures – 74
The passive fire protection coating market is the market for materials and systems that are used to protect structures from fire. These coatings slow the spread of flames and heat, giving people more time to escape a fire. The market is expected to grow significantly in the coming years due to the increasing demand for fire safety measures in buildings and other structures.
Prominent Players in Passive Fire Protection Coatings Market
- AkzoNobel
- BASF
- Jotun
- PPG Industries
- Sherwin-Williams
- The Dow Chemical Company
- RPM International
- Nippon Paint
- Kansai Paint
- Valspar
- Hempel
- Axalta Coating Systems
- 3M
- Sherwin-Williams Performance Coatings
- Promat International
- Fireguard
- Intumescent Fire Protection
- Promat Group
- Teknos Group
- Jotun Group
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Intumescent Coatings Demand to Grow Substantially in the Forecast Period
Intumescent Coatings dominated the global market due to their ability to expand and form an insulating char when exposed to high temperatures, providing effective fire protection. They offer advantages such as thin film thickness, aesthetic appeal, and versatility in application methods.
Spray Application is the Leading Application Segment
In terms of application, the spray is the leading segment due to its ability to cover a larger area. In addition, it offers advantages such as ease of application, faster coverage, uniform coating thickness, and suitability for complex or irregular surfaces. It allows for efficient and cost-effective application, particularly in large-scale projects where time and labor savings are crucial.
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Asia-Pacific is the leading Market Due to the Emphasis on Fire Regulations
Region-wise, Asia-Pacific is one of the largest growing markets with a huge emphasis on fire regulations. The region is actively adopting and enforcing building codes and standards promoting fire safety are likely to have a higher demand for passive fire protection coatings. Compliance with these regulations can drive market dominance. Moreover, the region strongly focuses on research and development in fire protection technologies, innovative coating formulations, and sustainable solutions that may gain a competitive advantage and dominate the market.
A recent report thoroughly analyzes the major players operating within the Passive Fire Protection Coatings market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Passive Fire Protection Coatings.
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Key Developments in Passive Fire Protection Coatings Market
- Zenova Group PLC, a producer of fire safety and heat management technology, signed a “partners in health” agreement with the Epsom & St. Hellier University Hospitals NHS Trust in Surrey, UK. Following an inspection of Zenova’s fire safety and insulation products by the Trust’s EME Technical Support Services division, the contract was signed, and Zenova was recognised as an NHS valued partner. It paves the way for Zenova’s solutions to be used to improve fire safety and insulation throughout the Trust’s estate.
Key Questions Answered in Passive Fire Protection Coatings Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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