The global passive fire protection market size is expected to gain momentum by reaching USD 5.4 billion by 2028 from USD 4.0 billion in 2021, while exhibiting a CAGR of 4.5% between 2021 to 2028. In its report titled, “Passive Fire Protection Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 3.8 billion in 2020.
The increasing demand and popularization of electric vehicles primarily due to environmental concerns have increased the demand for lithium-ion batteries. This LIB requires a safe and durable solution to reduce the risk of fire. This has increased the use of passive fire protection systems. For instance, the 3M Company provides Sikagard fire protective coating in electric compartments of the electric car. The Sikagard treatment provides the greatest degree of fire protection, giving a solution for the automobile sector to provide efficient and safe batteries.
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List of Key Players Profiled in Passive Fire Protection Industry Report
- Akzo Nobel N.V. (Amsterdam, Netherlands)
- Bostik (Colombes, France)
- Sika AG (Baar, Switzerland)
- Jotun (Sandefjord, Norway)
- 3M (Minnesota, U.S.)
- Hempel A/S (Lyngby, Denmark)
- The Sherwin-Williams Company (Ohio, U.S.)
- PPG Industries, Inc. (Pennsylvania, U.S.)
- TÄBY BRANDSKYDDSTEKNIK AB (Taby, Sweden)
- CPG EUROPE (Wigan, England)
- Advanced Insulation Limited (Gloucester, U.K.)
- Polyseam Ltd (Huddersfield, U.K.)
- Muehlhan AG (Hamburg, Germany)
- ALTRAD (Montpellier, France)
- Nullifire (Wigan, U.K.)
- ROCKWOOL International A/S (Hedehusene, Denmark)
By product type, the market is divided into cementitious materials, intumescent coatings, fireproofing cladding, and others. By end-use industry, the market is segmented into oil & gas, infrastructure & construction, industrial, transportation, and others. Finally, based on region, this market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Provide?
The market report for passive fire protection provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the growth of the market.
Increasing Demand for Fire-safe Data Storage Facilities to Drive Market Growth
Growing Information Technology (IT) industry and telecom industries worldwide are all over the expected to grow rapidly in upcoming years. Since these industries require safe infrastructure to protect their data, the office complexes are built fireproof as the recovery cost of fire hazards in these companies can be enormous, not only in terms of human deaths but also the irreversible damage to the infrastructure which is utilized to store massive amounts of data and information. Therefore, major IT companies such as Google, Amazon, and Facebook are also likely to invest hugely in creating fire-resistant infrastructure for their data storage operations.
- For example, In March 2021, Google declared to invest USD 7 billion in office space and data centers in the U.S. this year. Such investments by major companies are expected to drive the passive fire protection market growth during the foreseeable years.
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North America to Remain at Forefront Due to Increased Fire Accidents in the Region
North America is expected to remain at the forefront and hold the highest position in the market for PFP during the forecast period due to increased fire accidents in the region. For instance, according to a report by the National Fire Protection Association, around 1.3 million fire accidents occur in the U.S. each year, causing an annual loss of close to USD 15 billion. Thus, the government in the region has become strict on fire regulations, and this is likely to promote the regional market. The region’s market stood at USD 2.13 billion in 2020.
Asia Pacific is expected to showcase significant passive fire protection market share in upcoming years owing to increased infrastructure development in developing economies, mainly India and China.
Key Players to Focus on Different Sales Strategies to Strengthen Their Positions
The market is consolidated by major companies striving to maintain their position by focusing on different sales strategies to enhance and strengthen their market portfolio. For instance, 3M sells its goods through different distribution channels, such as directly to end-users, sometimes to wholesalers, retailers, distributors, and dealers in a variety of trades. Therefore, such strategies are expected to intensify the market competition.
February 2020 – 3M launched an online tool for PFP systems. This will help in knowing the correct fire protection system for a specific application on a building project.
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