+1-888-308-5802     
News Contact Us

Passive Fire Protection Materials Market Is Expected To Grow At A Highest CAGR Over The Forecast Timeframe

Author : Rahul Varpe | Published Date : 2019-06-07 

Strong demand for hydrocarbon based intumescent coatings from oil & gas industry will propel passive fire protection materials market during the forecast timespan. These materials are extensively preferred across various end-user industries including construction, oil & gas, warehousing, manufacturing, etc. owing to its exceptional properties to tackle situations in case of fire emergency. For instance, intumescent coatings are highly preferred in oil & gas sector due to high risk environment which is mainly due to presence of highly flammable compounds which will help in making significant gains to passive fire protection materials market by 2024.

Passive Fire Protection Materials Market is poised to surpass USD 27 billion by 2024. Rapidly rising exploration activities in North America which is due to abundance of shale oil/gas reserves is probable to be a major factor which will help augment passive fire protection materials market by 2024. For instance, as per the Energy Information Administration (EIA), the U.S. has approximately 200 trillion cubic feet (tcf) of proved shale gas resources.

Request for a sample copy of this report @   https://www.gminsights.com/request-sample/detail/2305

Based on the end-users, building & construction segment for passive fire protection materials market is projected to grow with CAGR of about 8.5% by 2024. This is attributed to strong persistence by regional regulatory bodies primarily in emerging economies to enhance safety standards in residential & commercial buildings. For instance, Association of Specialist Fire Protection (ASFP) have been encouraging to improve the quality of installed fire protection in all forms to improve the safety standards and reduce damage across high-risk environments which in turn will make significant contribution to passive fire protection materials market by 2024.

Unstable prices for raw materials which are widely used in making passive fire proofing materials is probable to hinder the passive fire protection materials market by 2024. Furthermore, persistent need to enhance safety standards across various industries such as manufacturing, oil & gas, warehousing, automotive, aerospace, etc. will drive the overall passive fire protection materials market by 2024.

Passive fire protective sealants market is anticipated to rise at a CAGR of over 8% by 2024. These materials are widely applicable for firestop in walls, floors, curtain wall joints, and in linear joints between walls and floors. They expand within the joints to provide fire & vapor sealed environment and are highly preferred in maintaining safety standards across various industries such as oil & gas, warehousing, manufacturing, construction, etc. and henceforth is probable to make substantial impact on passive fire protection materials market by 2024.

North America passive fire protection materials market is likely to grow at a CAGR with 8% by 2024. This is primarily due to rising product end-users across various end-user industries including construction, transportation, oil & gas, manufacturing, warehousing, etc. which will propel the business by 2024. Intumescent coatings are widely used in oil & gas industry mainly in the U.S. during exploration activities to reduce damage in the high-risk environment. Additionally, increasing R&D investment for the development of advanced coatings used in fireproofing is mainly attributed to stringent legislations formulated by regional regulatory bodies which propels the passive fire protection materials market in the region.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2305

 Major passive fire protection materials market share contributors are Sharpfibre, Kansai Paint, Lloyd Insulations, 3M, Rudolf Hensel, Nullifire, Teknos, Akzo Nobel, Promat International, PPG Industries, Sherwin-Williams and Hempel. Most of the companies are making significant investment in their R&D facilities to develop advanced materials and attain competitive advantage in the market. For instance, Jotun has initiated to set up a new R&D center which will cost over USD 6 million at its site in Flixborough, United Kingdom. It is intended to focus on passive fire protection and insulation coatings innovation which will help accomplish higher gains than competitors in the region.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

Related News

Super Absorbent Polymer Market by Applications and Growth Forecast To 2024

Published Date: 2019-12-13         Author: Rahul Varpe

The 'Super Absorbent Polymer Market' report added recently by Global Market Insights evaluates the industry in terms of market size, market share, revenue estimation, and geographical outlook. The study also delivers a precise summary that illustrates the competitive milieu, growth opportuni... Read More

Industrial Head Protection Market by Regional growth Forecast To 2024

Published Date: 2019-12-13         Author: Rahul Varpe

Global Market Insights, Inc. has recently added a new report on industrial head protection market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of Industrial Floor Coatings industry. Today, construction companies have designed a new kind of sa... Read More

Muconic Acid Market Growth Analysis By Regional Players | 2019-2024

Published Date: 2019-12-13         Author: Rahul Varpe

The global muconic acid market is projected to have a significant demand from the textiles industry by 2024. As per the trends presented by FICCI in 2014, North America and Europe held strong positions in textile production with the respective market shares of 14% and 36%. Growing spending capabi... Read More

© 2019 Fractovia. All Rights Reserved