The fireproofing materials market size is estimated to be USD 0.9 billion in 2021 and is projected to reach USD 1.5 billion by 2026, at a CAGR of 9.8% between 2021 and 2026.
Browse 173 market data Tables and 56 Figures spread through 209 Pages and in-depth TOC on "Fireproofing Materials Market by Coating Type (Intumescent coatings- Thin film and Thick film, and Cementitious coatings- Cement-based and Gypsum based), End-use (Commercial, Industrial, and Residential) and by Region - Global Forecast to 2026 "
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Intumescent coatings are estimated to be the fastest-growing type in the fireproofing materials market for the forecast period
Intumescent coatings are broadly divided into thin film and thick film coatings. Thin film intumescent coatings are either solvent-based or water-based and consist of three components a primer, a base coat, and a sealer coat. These coatings are majorly used to provide fire resistance in buildings. Thick film intumescent coatings are usually epoxy-based and typically have higher dry film thickness than thin film. Thin film intumescent coatings are preferred for these buildings and for the better protection from cellulosic fires. Whereas, thick film intumescent coatings are majorly used in the industrial end-use segment for hydrocarbon fires coatings. These are majorly used for external steel in high-rise buildings and structures exposed to marine environments. These properties are expected to drive the intumescent coatings during the forecast period.
North America is estimated to be the largest region in fireproofing materials market in 2020.
The North American market accounted for the largest share globally. It is experiencing high growth on account of the increased demand for these materials in new and existing buildings. Major factor that is influencing the growth of this market is the growing construction industry, especially the rise of skyscrapers in emerging economies. The market growth in this region is majorly driven by stricter building codes and policies. The key market players profiled in the report include 3M (US), Akzo Nobel N.V. (Netherlands), Isolatek International (US), Sika AG (Switzerland), Etex Group (Belgium), PPG Industries, Inc (US), BASF SE (Germany), Carboline (US), RPM International Inc. (US), Jotun Group (Norway), Iris Coatings S.r.l (Italy), Knauf Insulation (US), Hempel Group (Denmark), W.R. Grace & Co.(US), Rolf Kuhn GmbH (Germany), Rockwool International AS (Denmark), No-Burn Inc. (US), The Sherwin-Williams Company (US), Contego International Inc. (US), Den Braven (Netherlands), Encon Insulation Ltd (UK), Ugam Chemicals (India), Intumescent Systems Ltd (UK), PK Companies (US), FlameOFF Coatings Inc.(US).
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Impact of COVID-19 on Fireproofing materials Market
The global pandemic has affected almost every sector in the world. The fireproofing materials market has shown negative growth as it was affected due to disruptions in the global supply chain and fluctuation in the raw material prices. This situation arised due to fall in demand from the construction sector. The market is highly dependent on the commercial, industrial and residential industries. North America is the largest region in terms of value for the fireproofing materials market.
North America has always been a strong market for fireproofing materials. Globally, North America has been one of the leaders in demand and product innovation, in terms of quality and application development. Key countries in the North American market are the US (the most dominant market, accounting for a significant regional market share), Canada, and Mexico. The fireproofing materials market is experiencing significant growth due to the increasing demand for advanced materials in the construction industry. The North American market is highly regulated, with several associations playing a key role in the monitoring and commercialization of fireproofing materials.
Fireproofing materials market is highly influenced by the strict regulations in this region. Various regulatory bodies including FPA, NFPA and CFPA are observing the building codes in the region. The builders and contractors adhere to these standards. North America is also a highly industrialized region, which plays an important role in the growth of this market. The growth of commercial and industrial infrastructure plays a key role in this market.
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