Passive fire protection materials (PFP) Market Forecasts to 2028 – Global Analysis By Product (Sealants Mortars, Cementous sprays, Putties), Application (Compartmentation, Firestopping materials), End user (Building & Construction, Oil & Gas) and By Geogr

Passive fire protection materials (PFP) Market Forecasts to 2028 – Global Analysis By Product (Sealants Mortars, Cementous sprays, Putties), Application (Compartmentation, Firestopping materials), End user (Building & Construction, Oil & Gas) and By Geography

According to Stratistics MRC, the Global Passive fire protection materials (PFP) Market is accounted for $6.51 billion in 2021 and is expected to reach $11.60 billion by 2028 growing at a CAGR of 8.6% during the forecast period. A passive fire protection material is one of several types of fire protection coatings, which also include cementitious products, blanket systems and fiberboard systems. PFP material is generally intumescent materials and some are part of an epoxy formulation.

The National Fire Protection Association (NFPA) reports that there were 490,500 structure fires in the United States in 2020, up 1.9 percent from 2019. Structure fires caused $12.1 billion in property damage in 2020, down 1.6 percent from $12.3 billion in 2019. The average loss for these structure fires was $24,669, down 3.4 percent from 2019. Vehicle, outside fires and fires in the California wildland-urban interface caused another $9.8 billion in property damage, bringing total property losses from fires to $21.9 billion. In 2020, a fire department responded to a fire on average every 23 seconds in the United States, according to the National Fire Protection Association. A home fire was reported every 89 seconds, a home fire death occurred every three hours and 24 minutes, and a home fire injury occurred every 46 minutes. Fire losses for homeowners, commercial multiple peril and fire insurance fell 32.7 percent in 2019, compared with 2018 and rose 2.6 percent in 2020. In 2017 and 2018 fire losses rose 53.5 percent and 28.7 percent, respectively, reflecting high losses from wildfires.

Market Dynamics:

Driver:

Rise in demand for fire-safe data storage facilities

Due to rising heavy investments from IT, ITES, and telecom develop data storage facilities that are fire safe, owing to their relevance in company operations, which is expected to drive the growth of the market. These industries are expected to generate significant demand for fire-safe infrastructure because they face a greater degree of fire hazard risk in comparison to conventional office complexes. The cost of recovery from a fire hazard that takes place within such industries can be enormous, not only in terms of human casualties but also the irreversible damage to the infrastructure which is utilized to store massive amounts of data and information.

Restraint:

Time-consuming application

The oil & gas industry depends on epoxy PFP coatings that require extra mesh reinforcing. Reinforcement mesh must have been placed appropriately in line with the product's certification to avoid any danger of failure when exposed to the spread of fire. Project delays are common with complex mesh reinforced systems. Installation takes a long time and requires a lot of effort. Mesh installation entails following certain certification requirements, such as measuring overlap and installing depth inside the system. Assuring that the mesh is applied by the system design presents on-going challenges, particularly when dealing with complicated structures.

Opportunity:

Increasing initiatives by government for fire safety

Several governments and industrial organizations now acknowledge the severity of the situation. As a result, they are sanctioning stricter fire safety regulations to avoid and alleviate future losses from such disasters. In all of these improved and already existing fire safety standards and strategies passive fire protection is predictable to play an important role. This protection is provided by the materials used to build the building, or it can be added later to improve the building's fire resistance as the construction industry expands in many parts of the world due to increased demand from the residential and commercial sectors.

Threat:

Complex system

The documentation of PFP should be deep and consist of everything about fire retardant products that were used on each penetration. This is the main thing that will be looked for at the time of a survey in facility. If UL systems are not mentioned in the documents, even if the penetration has been sealed by using the right UL system, facility will have to face several consequences. With complex mesh reinforced systems, project delays are common. Installation is time-consuming and labour-intensive.

Intumescent coatings segment is expected to be the largest during the forecast period

Intumescent coatings are expected to expand at a rapid pace during the forecast period. The oil & gas industry comprises processes such as storage, production, exploration, and transportation of particularly flammable liquids and gases; intumescent passive fire protection is an outstanding choice for shielding structural steel from the intense heat generated by hydrocarbon fires. Moreover, epoxy intumescent coatings are the most widespread kind of PFP utilized in modern, high-risk sectors such as oil & gas and petrochemical facilities.

The Oil & gas segment is expected to have the highest CAGR during the forecast period

The Oil & gas segment is expected to have the highest CAGR during the forecast period. As in this sector, the PFP coatings are becoming increasingly necessary. When open to high temperatures, the coatings enlarge to produce an insulating layer of carbon char on industrial oil and gas facilities. This lets the steel keep its load-bearing capability for up to four hours longer during a fire, allowing occupants more time to get out of the structure.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, owing to the growing population and improving macroeconomic factors in emerging economies such as India, Indonesia, and other countries have resulted in increased construction activities. Moreover, growing demand for the product from industries such as construction, industrial, and warehousing, especially in China and India, is anticipated to propel the market in the Asia Pacific. Hence, the increasing construction activities generate huge demand for a passive fire protection material in the province has motivated the growth of the market.

Region with highest CAGR:

North America is projected to have the highest CAGR, owing to the growing demand for multifamily housing activities and rising consumer awareness about fire safety. Moreover, consumers rising purchasing power, as well as the governments and regulatory agencies increased prominence on improving fire safety standards is predictable to boost market demand. Additionally, rising demand for fire-safe infrastructures, such as commercial and residential buildings are predicted to push market demand in this province

Key players in the market:

Some of the key players profiled in the Passive fire protection materials (PFP) Market include 3M Companies, ADT Fire & Security, BASF Coatings, Carboline, Cooper Industries, GE Security, Hempel A S, HILTI, Honeywell Inc., Leighs Paints, Lloyd Insulations (India) Ltd , Nullifire, Rudolf Hensel GmbH, Sharpfibre, Sherwin-Williams, Zenova Group PLC.

Key developments:

In January 2022: Zenova Group PLC, signed an agreement with the Epsom & St. Hellier University Hospitals NHS Trust in Surrey, UK. Following an inspection of Zenova's fire safety and insulation products by the Trust's EME Technical Support Services division, the contract was signed, and Zenova was recognised as an NHS valued partner.

In October 2020: CharCoat Passive Fire Protection Inc., a company specialized in electrical fire protection and insulation coatings, announced the completion of another successful test for its CharCoat CC Electrical Cable Coating.

Products Covered:
• Sealants
• Mortars, Cementous sprays, Putties
• Intumescent coatings
• Foams & boards
• Fireproofing cladding

Applications Covered:
• Compartmentation
• Firestopping materials
• Opening protection
• Structural

End Users Covered:
• Building & Construction
• Oil & Gas
• Transportation
• Warehousing

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances