Market Size of Fire Retardant Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fire Retardant Coatings Market Analysis
The Fire Retardant Coatings Market is expected to grow at a CAGR of more than 5 % during the forecast period.
The COVID-19 pandemic hampered the market, as lockdowns, social distances, and trade sanctions triggered massive disruptions to global supply chain networks. The construction industry witnessed a decline due to the halt in activities. However, the condition recovered in 2021 and was expected to benefit the market during the forecast period.
- Major factors driving the market studied are increasing construction activities globally and growth in oil & gas exploration activities.
- However, the availability of low-cost alternatives for some applications hinders the market's growth.
- The strong rise in shale gas production will likely act as an opportunity for the markeglobal marketed the market across the globe with the largest consumption in a country such as China, India, etc.
