Passive Fire Protection Materials Market | Business Overview, Challenges, Driving Factors, Competitive Scenario And Industry Growth Forecast By 2027

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Passive Fire Protection Materials Market -
Growth, Trends, COVID-19 Impact, and Forecasts
(2021 - 2027)
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Global Market Scenario of Passive Fire Protection
Materials Industry

• Global Market Insights Inc., estimates that the
  passive fire protection materials market may
  surpass USD 9 billion by 2027.
• The unprecedented need for organic compound-based
  coating products in the petroleum sector is
  anticipated to fuel passive fire protection
  materials market growth. Passive fire preventive
  materials are widely used across the warehousing,
  manufacturing, construction, and petroleum
  industries to enhance the safety of people and
  the environment. These materials prevent a fire
  from spreading in an event of an outbreak.
• Constant industrialization and urbanization have
  led to a surge in the development of buildings
  infrastructures, thereby boosting the deployment
  of fire protection material to enhance the
  safety. Stringent laws introduced to enhance
  protection of working personnel across the
  aforementioned industries has further accelerated
  the deployment of passive fire protection
  materials.
• Fluctuating prices of the raw materials used in
  the development of passive fire protection
  materials could retrain market growth.
  Nevertheless, a need to improve safety criteria
  across numerous end-user verticals would propel
  its adoption in the years to come.

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• Based on product, the foams boards segment in
  the passive fire protection materials industry is
  expected to record more than 8 CAGR in the
  forthcoming years. Fire-rated foam board is a
  high-density and mineral fiber board that is
  coated on both sides with intumescent mastic. It
  prevents fire from spreading through wall gaps.
  These protective materials have widespread
  applications among numerous industries like
  petroleum, manufacturing, warehousing, and
  construction.
• The petroleum industry for passive fire
  protection materials market is expected to
  register over 8.0 CAGR over the forecast period.
  This is can be attributed to increasing
  exploration activities primarily in the United
  States and the Middle East.
• Dealing with flammable compounds could
  potentially result in events of fire crisis. The
  surging needs to attain safety for health and
  environment may led to the formulation of
  stringent laws, which in return may fuel the
  passive fire protection materials market growth.
• Geographically, Middle East Africa would offer
  lucrative growth opportunities to the passive
  fire protection materials market. Studies
  suggests that the regional industry may
  accelerate at a rate of more than 9 CAGR over
  the forecast period.

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360 Industry Analysis

• The flourishing construction industry, primarily
  in GCC nations, and the abundance of oil reserves
  in Middle East may spur market growth. Moreover,
  improving human safety standards introduced to
  prevent fire accidents on site may significantly
  influence MEA passive fire protection materials
  market growth.
• These companies are investing heavily in their
  research and development activities to develop
  advanced products and gain a competitive
  advantage. For instance, Hempel is investing in
  its Barcelona-based innovative RD facility that
  is focused solely on the development of passive
  fire protection (PFP) coatings.
•  

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• Competitive Analysis
• Notably, PPG Industries, Hempel, Rudolf Hensel,
  Promat International, Lloyd Insulations, Teknos,
  Sharpfibre, Nullifire, Kansai Paint, 3M, Akzo
  Nobel, and Sherwin-Williams are currently at the
  forefront of passive fire protection materials
  industry.

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Materials Market_at_ https//www.gminsights.com/indus
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