Passive Fire Protection Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022 - 2026

The Business Research Company’s Passive Fire Protection Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022 - 2026

LONDON, GREATER LONDON, UK, January 4, 2022 /EINPresswire.com/ -- Technological advancement is a key trend gaining popularity in the passive fire protection market. Major companies operating in the passive fire protection sector are focused on developing technological solutions for passive fire protection to strengthen their position. For instance, in November 2020, Honeywell, a US-based company that mainly operates in building technologies launched new suite of Connected Life Safety Services (CLSS), a cloud platform for fire safety systems. The platform is intended to help fire professionals avoid downtime, demonstrate compliance, and shorten the time it takes to design, install, commission, inspect, maintain, and report life safety equipment.

As per TBRC’s passive fire protection market overview, the growing construction sector is driving the growth of the passive fire protection market. Construction is a sector that deals with the building, maintenance, and repair of structures and buildings, as well as the construction of roadways and service facilities. Fireproof materials are used in the construction sector for fire safety in the building as they are non-combustible with low thermal conductivity and take a long time for the fire to affect the structures, and also protects the spread of fire. For instance, according to Global Construction Perspectives and Oxford report, the worldwide construction sector is projected to reach $8 trillion by 2030. Therefore, the growing construction sector is expected to propel the growth of the passive fire protection market in the coming years.

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The global passive fire protection market size is expected to grow from $3.99 billion in 2021 to $4.42 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. Passive fire protection market statistics explain that the growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global passive fire protection market share is expected to reach $5.73 billion in 2026 at a CAGR of 6.7%.

In September 2020, Etex Group, a Belgium-based gypsum products company acquired FSi Limited for an undisclosed amount. Through this acquisition Etex Group will be able to offer a broader range of solutions to current and new customers in the UK and overseas, and will improve its position in passive fire prevention. FSi Limited is a UK-based manufacturer of passive fire protection systems.

Major players covered in the global passive fire protection industry are 3M, PPG Industries Inc., Sherwin-Williams, Rotarex Firetec, Specified Technologies Inc., Contego International Inc., Mercor Tecresa, Lloyd Insulations (India) Limited, Hempel A/S, Rudolf Hensel GmbH, Hilti, Akzo Nobel N.V., No-Burn Inc., Promat, Isolatek International, Envirograf, RPM International Inc., and Albi Protective Coatings.

TBRC’s global passive fire protection industry analysis report is segmented by product into cementitious materials, intumescent coating, fireproofing cladding, others, by application into structural, compartmentation, opening protection, firestopping material, by end-user into oil and gas, construction, industrial, warehousing, others.

Passive Fire Protection Global Market Report 2022 - By Product (Cementitious Materials, Intumescent Coating, Fireproofing Cladding, Others), By Application (Structural, Compartmentation, Opening Protection, Firestopping Material), By End-User (Oil And Gas, Construction, Industrial, Warehousing, Others) - Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides a passive fire protection market overview, forecast passive fire protection market size and growth for the whole market, passive fire protection market segments, geographies, passive fire protection market trends, passive fire protection market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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