New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fire Stopping Material Global Market Report 2023" - https://www.reportlinker.com/p06466568/?utm_source=GNW
, Fire Seals Direct, Fischerwerke GmbH And Co. KG, Lloyd Insulations, Unique Fire Stop Products Inc., Technologies Inc. and Trelleborg AB.
The global fire stopping materials market is expected to grow from $1.39 billion in 2022 to $1.52 billion in 2023 at a compound annual growth rate (CAGR) of 9.23%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The fire stopping materials market is expected to reach $2.24 billion in 2027 at a CAGR of 10.21%.
The fire stopping materials market consists of sales of gypsum-based plaster, intumescent mastics, mineral fibers, and cavity barriers.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Fire stopping materials refers to a class of materials that help a structure resist fire. and used to fill openings and joints between walls and floors with fire-resistant material, these compounds are generally utilized to decrease the effects of disastrous fires. These materials can be categorized as passive or active fire prevention materials.
North America was the largest region in the fire stopping materials market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of materials used in fire stopping materials are coatings, mortar, sealants and fillers, sheets and boards, spray, preformed devices, putty, cast-in devices, and other types.Coating refers to a layer or film that is applied to a surface for decoration or protection.
It is used in a variety of applications, including electrical, mechanical, plumbing, and other applications. and major end-users are the commercial, industrial, and residential industries.
The growing number of fire incidents is expected to significantly drive the fire stopping materials market going forward.Fire incidents refer to tragic occurrences that may result in the loss of property and horrifying burn injuries that inflict excruciating agony, scarring, deformity, disability, the need for ongoing care, and even death.
Fire-stopping materials are major protectors against fire incidents.It functions to safeguard people and property by preventing the spread of fire across a building’s many compartments.
For instance, in September 2021, according to a survey conducted by the National Fire Protection Association (NFPA), a US-based non-profit organization, local fire departments in the US responded to 1.35 million fire incidents in 2021. 3,800 civilians lost their lives in these fires, and 14,700 civilian fire injuries were also reported. The estimated cost of the property destruction brought on by these fires was $15.9 billion. Therefore, the growing number of fire incidents is expected to drive the growth of the fire stopping materials market going forward.
Product innovation is the key trend gaining popularity in the fire stopping materials market.Major companies operating in the fire stopping materials market are developing innovative products to strengthen their position in the market.
For instance, in September 2022, Nullifire Ltd., a UK-based fire protection product manufacturing company, launched its FS719 HP Blue for chlorinated polyvinyl chloride (CPVC) materials. It has a recognizable blue color for simple visual identification and traceability and provides up to two hours of fire resistance. It also has distinguishing characteristics, such as being easily identifiable when used with the FB750 intubattor-coated batt and being FBCTM System compatible. And this advanced product has been made accessible to sprinkler and fire protection system installers.
In September 2020, Etex Groupe., a Belgium-based gypsum product manufacturing company, acquired FSi Limited for an undisclosed amount. Through this acquisition, Etex Groupe., hopes to improve its passive fire protection and drylining systems by utilizing FSi’s technical know-how and options. Fsi Limited., a UK-based manufacturer of fire protection products with a full range of fire stopping, cavity barriers, and facade systems.
The countries covered in the fire stopping materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The fire stopping materials market research report is one of a series of new reports that provides fire stopping materials market statistics, including fire stopping materials industry global market size, regional shares, competitors with a fire stopping materials market share, detailed fire stopping materials market segments, market trends and opportunities, and any further data you may need to thrive in the fire stopping materials industry. This fire stopping materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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