Overview and Scope
Fire-stopping materials refer to a class of materials that help a structure resist fire. and used to fill openings and joints between walls and floors with fire-resistant material, these compounds are generally utilized to decrease the effects of disastrous fires. These materials can be categorized as passive or active fire prevention materials.
Sizing and Forecast
The fire stopping material market size has grown strongly in recent years. It will grow from $1.52 billion in 2023 to $1.66 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to strict building codes and regulations, rising awareness of fire safety, increasing construction activities, stringent requirements in high-risk environments, insurance industry mandates.
The fire stopping material market size is expected to see rapid growth in the next few years. It will grow to $2.47 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to rapid growth in the construction industry, focus on sustainable and environmentally friendly solutions, stringent fire safety requirements in critical infrastructure, increasing adoption in retrofitting projects, global emphasis on life safety and property protection. Major trends in the forecast period include intumescent technology advancements, environmentally friendly formulations, flexible and sealant solutions, code compliance and standards adherence, innovations in fire retardant additives.
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Segmentation & Regional Insights
The fire stopping material market covered in this report is segmented –
1) By Type: Coatings, Mortar, Sealants And Fillers, Sheets And Boards, Spray, Preformed Device, Putty, Cast-In Devices, Other Types
2) By Application: Electrical, Mechanical, Plumbing, Other Applications
3) By End-User: Commercial, Industrial, Residential
North America was the largest region in the fire-stopping materials market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global fire-stopping materials market report during the forecast period. The regions covered in the fire stopping material market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing number of fire incidents is expected to significantly drive the fire-stopping materials market going forward. Fire incidents refer to tragic occurrences that may result in the loss of property and horrifying burn injuries that inflict excruciating agony, scarring, deformity, disability, the need for ongoing care, and even death. Fire-stopping materials are major protectors against fire incidents. It functions to safeguard people and property by preventing the spread of fire across a building’s many compartments. For instance, in September 2021, according to a survey conducted by the National Fire Protection Association (NFPA), a US-based non-profit organization, local fire departments in the US responded to 1.35 million fire incidents in 2021. 3,800 civilians lost their lives in these fires, and 14,700 civilian fire injuries were also reported. The estimated cost of the property destruction brought on by these fires was $15.9 billion. Therefore, the growing number of fire incidents is expected to drive the growth of the fire stopping materials market going forward.
Key Industry Players
Major companies operating in the fire stopping material market report are Hilti Corporation, 3M Company, Sika AG, Etex Group, Morgan Advanced Materials, Knauf Insulation, Compagnie de Saint-Gobain S.A, BASF SE, Abesco Fire Ltd., Fire Seals Direct, Fischerwerke GmbH And Co. KG, Lloyd Insulations, Unique Fire Stop Products Inc., Trelleborg AB, Rockwool International A/S, Specified Technologies Inc., H. B. Fuller Company, RectorSeal LLC, Promat International NV, Ruskin Company, Tremco Incorporated, Almese Rolf Kuhn GmbH, Roxul Inc., Arkema Group, Fosroc International Ltd., Atkore International, GCP Applied Technologies Inc., CPG INTERNATIONAL INC., Fireteknics Ltd., Protexus Fire Systems Ltd.
The fire stopping material market report table of contents includes:
1. Executive Summary
2. Fire Stopping Material Market Characteristics
3. Fire Stopping Material Market Trends And Strategies
4. Fire Stopping Material Market – Macro Economic Scenario
5. Global Fire Stopping Material Market Size and Growth
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31. Global Fire Stopping Material Market Competitive Benchmarking
32. Global Fire Stopping Material Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fire Stopping Material Market
34. Fire Stopping Material Market Future Outlook and Potential Analysis
35. Appendix
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