Stringent Safety Regulations & Adherence to Fire Safety Best Practices to Spur Growth in the Global Passive Fire Protection Coatings Market
The global market for Passive Fire Protection Coatings is projected to reach US$5.4 Billion by 2025 , driven by wider adoption of best construction practices and building codes amid growing number of fire accidents and their destructive impact on property and life. Market growth is also driven by availability of lightweight, fast-drying, and high-performance intumescent coatings for containing cellulosic and hydrocarbon fires in construction, refinery, automotive, aerospace, and marine applications. 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 urban...