NEW YORK, Sept. 13, 2017 /PRNewswire/ -- "Fire protection materials market is projected to reach USD 6.78 billion by 2022" The global fire protection materials market is estimated to be USD 4.52 billion in 2017 and is projected to reach USD 6.78 billion by 2022, at a CAGR of 8.41% between 2017 and 2022. The growing demand from major applications, such as commercial construction and industrial construction is expected to drive the demand for fire protection materials. The increasing fire safety regulations & codes is significantly driving the demand for fire protection materials. Environmental and health concerns due to some fire protection materials is a major restraint for the growth of the fire protection materials market.
"Commercial construction application segment is expected to witness the highest growth during forecast period" The commercial construction application segment is expected to witness the highest growth between 2017 and 2022. The demand for fire protection materials is increasing in various commercial construction projects, such as schools, universities, offices, hospitals, hotels, restaurants, and others. The demand for fire protection materials in residential construction is also increasing tremendously, especially in North America and the Middle East & Africa due to increasing stringency of regulations and codes, improving lifestyle, and growing disposable income.
"Asia-Pacific is projected to be the fastest-growing market for fire protection materials during the forecast period" Asia-Pacific is projected to be the fastest-growing market for fire protection materials during the forecast period. The growing demand for fire protection materials in commercial & industrial construction applications is driving the demand for fire protection materials in the region. The Middle East & Africa is estimated to be the second-fastest growing market for fire protection materials during the forecast period.
Break-up of profiles of primary participants for the report: â€¢ By Company Type: Tier 1 – 39%, Tier 2 – 45%, and Tier 3 – 16% â€¢ By Designation: C Level – 43%, Director Level – 37%, and Others – 20% â€¢ By Region: North America – 35%, Europe – 28%, Asia-Pacific – 20%, Middle East & Africa – 12%, and South America – 5%
The report includes company profiles of major players and recent activities in the market, such as new product launches, expansions, and acquisitions. Some of the major companies profiled in this report are Hilti Group (U.S.), 3M (U.S.), Akzo Nobel N.V. (Netherlands), Morgan Advanced Materials (U.K.), Specified Technologies Inc. (U.S.), Etex (Belgium), Tremco Incorporated (U.S.), BASF SE (Germany), Isolatek International (U.S.), USG Corporation (U.S.), Hempel Group (Denmark), PPG Industries Inc. (U.S.), W.R. Grace & Co. (U.S.), Rolf Kuhn GmbH (Germany), and Rectorseal (U.S.).
Research Coverage: The research study includes a detailed segmentation of the global fire protection materials market based on application, type, and region. Furthermore, this report covers the Porter's Five Forces analysis for an in-depth analysis of the market.
Reasons to buy the report: From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the fire protection material market, high growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers: â€¢ Market Penetration: Comprehensive information on fire protection materials offered by the top players in the global fire protection materials market â€¢ Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the fire protection materials market â€¢ Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for fire protection materials across regions â€¢ Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global fire protection materials market â€¢ Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the global fire protection materials market
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