New York, May 29, 2023 (GLOBE NEWSWIRE) -- As per the research report Global Passive Fire Protection Market published by Reports Insights, the market was worth USD 4,185.69 Million in 2022 and is anticipated to reach over USD 5,905.31 Million by the year 2030, growing at a CAGR of 4.65%
Passive fire protection is mainly deployed in a structure to impede the spread of the fire in case of a fire hazard without any human intervention. Various types of passive fire protection systems such as cementitious materials, intumescent coatings, fireproof cladding, and others are mainly employed for slowing the spread of fire within a building and ensuring the safety and escape of individuals in case of a fire hazard. The market for passive fire protection is highly competitive, with a large number of players offering a wide variety of products. The market is expected to continue to grow in the coming years, driven by the increasing demand for advanced passive fire protection systems in a variety of industries, including oil & gas, building & construction, automotive, and marine among others. Request Sample Now
The increasing application of fire protection solution in the oil & gas plants and refineries is one of the key factors driving the market growth. Passive fire protection solutions play a crucial role in the oil and gas industry. Passive fire protection solutions such as intumescent coatings and cementitious sprays are often applied to industrial oil and gas infrastructure in order to form an insulating layer of protection from exposure to high temperatures in case of fire. The utilization of passive fire protection solutions in the oil and gas infrastructure enables the steel structure to maintain its thermal capacity for several hours during a fire, thereby, providing individuals with an opportunity to escape the building and for extinguishing the fire.
Get Sample Report@ https://www.reportsinsights.com/sample/673830
Further, an increasing demand for electric vehicles is another significant factor for the growth of the passive fire protection market. The demand for electric vehicles has been increasing steadily over the years, driven by advancements in technology, availability of a wide range of models, and eco-friendly properties of electric vehicles. The lithium-ion batteries installed in electric vehicles often operate at high temperatures and pose a higher risk of fire. Passive fire protection is mainly employed in the electric vehicle as a crucial safety feature that slows the spread of fire and smoke, which enables drivers and passengers to exit the vehicle and reach a safe distance in case of fire.
Global Passive Fire Protection Market Segmentation Details:
Based on Product Type, the cementitious materials segment contributed the largest shares to the market growth in 2022. Cementitious materials such as cementitious coatings and sprays, composed of cement or gypsum, are often applied to a steel structure in order to enhance the fire resistance of the steel. Cementitious materials are mainly applied in multiple layers for effective protection of the underlying material, which later forms a barrier that is capable of impeding the rate of heat transfer in case of a fire hazard. Moreover, cementitious material is one of the most economical solutions for fireproofing buildings, which is a prime factor driving the growth of the segment.
Based on End User, the oil and gas segment are anticipated to offer substantial shares to the global passive fire protection market growth during the forecast period. Passive fire protection is utilized in the oil and gas industry to protect the oil and gas containment vessels along with the main structural elements of the steel structure in case of a fire hazard. Moreover, the rising investments in oil & gas projects and increasing adoption of passive fire protection solutions in the oil and gas industry to enhance safety and security of individuals in an event of fire is expected to fuel the market growth during the forecast period.
Based on region, North America accounted for the largest share contribution to the market growth in 2022. The growth in the North American region is attributed to the presence of major passive fire protection providers in the region including 3M, Sherwin-Williams Company, PPG Industries, and others. In addition, factors such as an increase in commercial and industrial construction activities in the region and the rising demand for fire protection solutions in building & construction, oil & gas, and other industries in North America is expected to promote the market growth in the region during the forecast period.
Passive Fire Protection Market Research Covarage:-
| Report Attributes | Report Details |
| Passive Fire Protection Market Size By 2030 | USD 5,905.31 Million |
| Passive Fire Protection Market Forecast Period | 2023-2030 |
| Passive Fire Protection Market CAGR (2023-2030) | 4.65% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Passive Fire Protection Market Key Players | Akzo Nobel N.V., Sika AG, Jotun, Bostik, 3M, Hempel A/S, Sherwin-Williams Company, PPG Industries, Advanced Insulation Limited, Polyseam Ltd, ROCKWOOL International A/S, and Kansai Paint Co. Ltd. |
| Passive Fire Protection Market By Product Type | Cementitious Materials Intumescent Coatings Fireproof Cladding Fire and Smoke Dampers and Others |
| Passive Fire Protection Market By End User | Building and Construction Oil and Gas Automotive Marine Aerospace Others |
| Passive Fire Protection Market Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| Passive Fire Protection Market By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
Browse Full Report with Table of Content (TOC) @ https://www.reportsinsights.com/industry-forecast/global-passive-fire-protection-market-statistical-analysis-673830
Key Market Highlights
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in passive fire protection.
- Globally, Passive Fire Protection are divided based on the product type into cementitious materials, intumescent coatings, fireproof cladding, fire and smoke dampers, and others.
- On the basis of end user, the market is classified into building and construction, oil and gas, automotive, marine, aerospace, and others.
- The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and the Middle East and Africa.
Recent Developments
- In July 2020, Carboline launched Pyrocrete 341, its new range of cementitious passive fire protection solution that is primarily designed for the oil and gas industry. Pyrocrete 341 is capable of offering up to four hours of hydrocarbon fire protection and approx. two hours of jet fire resistance.
- In April 2022, Jotun launched its new epoxy intumescent coating called SteelMaster 1200HPE. The newly launched coating offers high-performance and provides protection up to 120 minutes against cellulosic fire in buildings.
Request for Inquiry or Customization Request @ https://www.reportsinsights.com/enquiry/673830
List of Major Global Passive Fire Protection Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
-
- Akzo Nobel N.V.
- Sika AG
- Jotun
- Bostik
- 3M
- Hempel A/S
- Sherwin-Williams Company
- PPG Industries
- Advanced Insulation Limited
- Polyseam Ltd
- ROCKWOOL International A/S
- Kansai Paint Co. Ltd.
Global Passive Fire Protection Market Segmentation:
- By Product Type
- Cementitious Materials
- Intumescent Coatings
- Fireproof Cladding
- Fire and Smoke Dampers
- Others
- By End User
- Building and Construction
- Oil and Gas
- Automotive
- Marine
- Aerospace
- Others
Discover More With Reports Insights Library Of Others Research Reports:-
Fire Dampers Market Research Report By 2030 - Reports Insights
Flame Barrier Market Analysis Report By 2030 - Reports Insights
Nitrogen Generators in Fire Protection Market Analysis Report By 2030 - Reports Insights
Flexible Fire Protection Sealants Market Research Report By 2030 - Reports Insights
HVAC Fire Protection Equipments Market Analysis Report By 2030 - Reports Insights
Fire Resistant Mortars Market Research Report By 2030 - Reports Insights
About Reports Insights Consulting Pvt Ltd
ReportsInsights Consulting Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports. Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by ReportsInsights Consulting Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in the foremost countries around the globe.
Contact:
Email: sales@reportsinsights.com
USA: +1-214-272-0393
Europe: +44-20-8133-9198
Website:- https://www.reportsinsights.com
