Fire Stopping Material Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

Fire Stopping Material is also known as a fundamental part of passive fireproofing. It refers to the process of filling openings and joints between walls and floors with fire-resistant material, inhibiting the spread of fire between 'compartments' within a building. In recent years, the demand for fire-stopping material has risen dramatically due to its rising use in preventing fire, smoke, and heat from passing through multiple components. These components are made of fire retardant and intumescent materials as well as cementitious motors, silicone, mineral fibers, and rubber compound. For instance, in May 2020, BASF launched ZEAL™, a Fluidized Catalytic Cracking (FCC) additive product, to supply more propylene to refiners by enhancing the production of light olefins in FCC units that process Gasoil feedstocks.

The Fire Stopping Material Market is expected to grow at a steady rate of around 11% owing to the increasing investment in the construction sector such as the building of offices, hospitals, government buildings, and education institutes. increasing due to the rise in population, urbanization, and disposable income, which has provided an impetus to the growing market. Major companies in the market offer fire-stopping materials for the commercial sector with technologically advanced features. For instance, in June 2022, Sherwin-Williams signed an agreement to acquire Gross & Perthun GmbH, a creator, manufacturer, and distributor of coatings for the heavy equipment and transportation industries. 

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=32161

According to UnivDatos Market Insights (UMI)’ research report “Global Fire Stopping Material Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the growing world population and constantly growing construction industry coupled with the launch of fire-stopping material with advanced features.

Based on type, the market is segmented into sealants, mortars, boards, putty & putty pads, collars, wraps/strips, and others. Putty & putty pads fire-stopping material category to witness higher CAGR during the forecast period. It is the type of material that has high plasticity, similar in texture to clay or dough, majorly used to seal gaps during construction. In addition, the market is the leading elastomeric paste with quick-acting intumescent qualities that seal openings around through-penetrations and prevent the passage of smoke, hazardous gases, and fire.

Based on the application, the market is categorized into electrical, mechanical, and plumbing. Among these, the electrical to hold a significant share of the market in 2020. This is mainly due to the growing construction industry globally which is demanding the need for electrical equipment. As sealants, mortars, and putty are some of the products which are highly used to cover the electrical lines within those construction buildings that are helpful in stopping the fire.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=32161

Based on end-user, the fire-stopping material market has been classified into residential, commercial, and industrial. The commercial category is to witness higher adoption of fire-stopping material during the forecast period. This is mainly because it comprises many facilities such as malls, schools, hospitals, and many others which comprises a lot of gathering in these areas. Additionally, commercial construction is one of the most increasing in both developed and developing countries. Also in developed countries, the construction of grocery stores, drugstore, and quick service restaurants are increasing, while in developing countries, the construction of hospitals, schools and colleges, and retail stores are driving the commercial construction segment. 

Asia-Pacific to witness extensive growth 

For a better understanding of the market adoption of the Fire Stopping Material industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing construction and building sector in the region which is demanding the need for fire-stopping materials in the region. Additionally, the factors such as population growth coupled with the development of new technologies and products are expected to grow the market in the region. Moreover, improving lifestyles and rising incomes are also contributing to the prosperity of the market in the developing countries of the region However, many industry experts expect infrastructure development in the region to get a boost as many companies are investing in the region’s construction industry. Hence, the factors mentioned above explain the growth of fire-stopping material growth in the region. 

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Fire Stopping Material market are 3M Company, BASF SE, Lloyd Insulations India Ltd., Hilti Corporation, Knauf Insulation, Morgan Advanced Materials, Saint-Gobain S.A., Sika AG, Specified Technologies Inc., Abesco Fire Ltd.   

“Global Fire Stopping Material Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

  

Market Segmentation: 

1.      By Type (Sealants, Mortars, Boards, Putty & Putty Pads, Collars, Wraps/Strips, and Others) 

2.      By Application (Electrical, Mechanical, and Plumbing) 

3.      By End-User (Residential, Commercial, and Industrial) 

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World) 

5.      By Company (3M Company, BASF SE, Lloyd Insulations India Ltd., Hilti Corporation, Knauf Insulation, Morgan Advanced Materials, Saint-Gobain S.A., Sika AG, Specified Technologies Inc., Abesco Fire Ltd) 

Key questions answered in the study: 

1.      What are the current and future trends of the global fire-stopping material industry?  

2.      How the industry has been evolving in terms of type, application, and end-user? 

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing? 

4.      What are the key growth drivers and challenges for the global fire-stopping material industry? 

5.      What is the customer orientation, purchase behavior, and expectations from the global fire-stopping material suppliers across various region and countries?