The Global Market for Passive Fire Protection Coatings is Projected to Reach US$4.9 Billion by 2024

Stringent Regulations Drive the Global Passive Fire Protection Coatings Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, and demand forecasts on the global Passive Fire Protection Coatings market. The global market for Passive Fire Protection Coatings is projected to reach US$4.9 billion by 2024, driven by increasing number of fire accidents, growing awareness about fire safety and increasing stringency in regulations.

Passive fire protection (PFP) coatings are a type of reactive, passive fire protection materials which when used on structural elements prevent, control and/or delay fire from spreading. These materials are applied to provide ample time to escape the building in case of a fire accident, preventing the fanning of flames to adjacent buildings and spaces, enhancing the safety of rescue personnel and delaying collapse of the core structure/foundation of the building. Increasing urbanization, growing number of fire accidents, increasing stringency in regulations and norms related to fire safety, and a general rise in awareness on safety are driving demand for PFP coatings. Benefits such as much lower maintenance post application when compared to active fire protection solutions, and higher reliability than some of the other reactive, passive fire protection solutions fuel adoption of PFP coatings. Construction and Oil & gas industries remain major end-use markets for PFP materials. Growing construction activity worldwide and increasing investments in oil & gas exploration and production are spurring growth in PFP coatings demand worldwide. Further, growing demand from niche end-use segments such as marine, automotive and aerospace is expected to increase adoption going forwards. Product innovations are also contributing to growth, fueled by exploration of novel materials for use in various applications to boost performance.

Cementous coatings benefit from lower costs and faster application that drive its demand in both industrial and construction sectors. Market for intumescent coatings is driven by its use in a wide range of industries including the oil & gas industry, skyscrapers, offices, residential and commercial buildings, colleges, hospitals and restaurants among others. Apart from reliability, durability and high efficiency, intumescent coatings demand low maintenance and provide the additional benefit of protection against corrosion. Passive fire protection coatings serve a bevy of industries. High durability of intumescent coatings has helped increase their appeal in the automotive market, where they offer protection against high engine temperature forming a thermal barrier in vehicles. 

As stated by the new market research report on Passive Fire Protection Coatings, Asia-Pacific represents the largest market worldwide for Passive Fire Protection Coatings. The region also represents the fastest growing market worldwide, with a CAGR of 9.3% through the analysis period. Rapid growth in population alongside dramatic increase in urbanization as well as growing commercial and industrial constructions is expected to drive demand for PFP coatings in the region. Growing safety awareness and implementation of new rules and policies that mandate the use of effective passive fire protection coatings in residential and commercial buildings are also fueling growth.

Major players in the market include AkzoNobel N.V., Carboline Company, Hempel A/S, Jotun Group, Kansai Paint Co. Ltd., Nippon Paint Co. Ltd., No-Burn Inc., PPG Industries Inc., Promat International NV, Svt Holding GmbH, Teknos Group, The Sherwin-Williams Company and tremco illbruck Group GmbH among others.

The research report titled “Passive Fire Protection Coatings: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Passive Fire Protection Coatings in value terms for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East & Africa, and Latin America.

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