Overview and Scope
Fire-resistant building materials are any materials that resist fire and do not melt for a long time, that is, they can withstand heat long enough for the residents of the structure to safely leave the premises. Fire protection materials include concrete, reinforcement steel, gypsum, cast iron, bricks, asbestos cement, timber, stone, glass, and others. They are used to protect construction sites from fire and other safety situations.
Sizing and Forecast
The fire protection materials for construction market size has grown strongly in recent years. It will grow from $4.69 billion in 2023 to $5.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to building codes and regulations, enhanced safety and risk mitigation, urbanization and population growth, growth in demand for industrial and commercial projects, insurance industry requirements.
The fire protection materials for construction market size is expected to see strong growth in the next few years. It will grow to $7.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing high-rise construction, retrofitting existing buildings, fire-resistant coatings, increasing fire-resistant insulation, increasing infrastructure development. Major trends in the forecast period include smart fire protection systems, high-rise fire safety solutions, enhanced fire testing and certification, fire-resistant glass, bio-based fire protection materials.
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Segmentation & Regional Insights
The fire protection materials for construction market covered in this report is segmented –
1) By Type: Coatings, Mortar, Sealants And Fillers, Sheets Or Boards, Spray, Preformed Device, Putty, Cast-In Devices, Other Types
2) By Application: Structural, Compartmentation, Opening Protection, Firestopping Materials
3) By End User: Commercial, Industrial, Residential, Other End Users
North America was the largest region in the fire protection materials for construction market in 2023. The regions covered in the fire protection materials for construction market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing regulations on the mandatory use of fire safety materials are likely to have a positive impact on the growth of fire protection materials for the construction market. Fire safety standards generally aim to reduce the fire-response of products and materials used in various living environments, such as domestic dwellings, household equipment, furnishings and electronics, buildings, and various modes of transportation. Globally, fire safety standards aim to prevent fires from starting by establishing performance-based norms that, if followed, will improve the fire safety of materials and products. For instance, in April 2021, the Home Office introduced the Fire Safety Bill as part of its commitment to enhancing fire safety in buildings across England and Wales. After successfully navigating the parliamentary process, this bill has now been enacted as the Fire Safety Act 2021. The Fire Safety Bill was enacted into law on April 29, 2021, officially becoming the Fire Safety Act 2021. Therefore, the growing regulations is expected to propel the growth of fire protection materials for construction market going forward.
Key Industry Players
Major companies operating in the fire protection materials for construction market include Hilti Corporation, 3M Company, Akzo Nobel N.V., Morgan Advanced Materials plc, Isolatek International Co., Sherwin-Williams Company, Rolf Kuhn GmbH, Specified Technologies Inc., Tremco Incorporated, BASF SE, USG Corporation, Hempel A/S, PPG Industries Inc., Fire Protection Coatings Limited, ETEX SA, Contego International Inc., DowDuPont Inc., Saint-Gobain S.A., The Lubrizol Corporation, W.R. Grace & Co., GCP Applied Technologies Inc., Carboline Company, Nullifire Ltd., Promat International NV, Rudolf Hensel GmbH, Sika AG, Firestone Building Products, GAF Materials Corporation, Johns Manville Corp., Owens Corning Fiberglass Company, CertainTeed Corporation, DuPont de Nemours Inc., Firestone Industrial Products Company LLC, GCP Applied Technologies Inc., Henry Company, National Gypsum Company, Owens Corning India Pvt. Ltd., Rockwool International A/S, Saint-Gobain Weber India Pvt. Ltd., Sto SE & Co. KGaA
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