Market Size of Fire Protection Materials Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 7.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fire Protection Materials Market Analysis
The market for fire protection materials is expected to register a CAGR greater than 7% during the forecast period.
Due to the production suspension and large construction project postponement all over the world, COVID-19 had a severe effect on the fire protection material market. Nevertheless, the industry's demand for fire protective coatings is anticipated to increase with the expanding building market following the pandemic.
- Increased industrialization and the use of cementitious and intumescent coatings are expected to enhance the market growth.
- On the flip side, the technical challenges of passive fire protection products are expected to hinder the studied market's growth.
- During the projected period, it is anticipated that the growing use of electrical products, whether in buildings or electric vehicles, will provide an opportunity for market growth.
- Asia-Pacific region dominated the market for fire protection products. However, North America is anticipated to register the greatest CAGR during the forecast period.
