The growth of accidents and the loss of assets caused due to fire on a global scale is one of the major factors driving the demand for passive fire protection materials. The global market for passive fire protection material is witnessing tremendous growth since the last decade. Some of the basic types of passive fire protection material used by the construction industry to prevent fire in buildings include fire doors, fire resisting cables, fire linings, fire resisting partitions, fire resisting glass, fire screens etc.
The global market for passive fire protection materials is expected to grow at a double digit rate over the next six years. The market is primarily driven by the increase in incidences of fire related accidents on a global scale. The death toll caused due to fire accidents was estimated to be over 12,000 in the U.S., over 6,800 in Europe and more than 50,000 in the Asia Pacific region per year till 2010. The loss of assets caused due fire accidents was approximately USD 90 billion globally in 2010. So in order to decrease these figures, the world is shifting its focus towards the use of passive fire protection materials which help in minimizing the accidents caused due to fire.
However, the market is highly dependent on the health of the economies in various regions.
The global market for passive fire protection materials is considered to be highly fragmented with a large number of participants operating in the global market and enjoying almost equal amount of market share. Asia Pacific holds immense opportunities for the players operating in the market owing to a steady growth in the construction industry, mainly in emerging economies of China and India. China and India are two of the fastest growing economies of the world whose GDP growth rates are increasing at a faster pace than the global GDP growth rate. The rapid rate of construction in Eastern Europe is also expected to drive the market over the next six years.
Some of the major companies operating in the global market for passive fire protection materials include ADT Fire & Security, Cooper Industries, GE Security, and Honeywell Inc.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
Rest of the World
This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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