Passive Fire Protection Coating Market Expected to Grow at CAGR of 4.6% by 2029 With Top Players 3M,Hempel A/S,CARBOLINE

passive fire protection coatings market is expected to reach the value of USD 10,897,987.13 thousand by the year 2029

PUNE, MAHARASHTRA, INDIA, August 4, 2022 /EINPresswire.com/ -- Data Bridge Market Research recently added Passive Fire Protection Coating Market Study that gives a deep analysis of the current scenario of the market size, demand, growth, trends, and forecast. The consistent Passive Fire Protection Coating Market report puts across the idea of a high-level analysis of major market segments and identification of opportunities. Market analysis and market segmentation have been carried out in terms of markets, geographic scope, years considered for the study, currency and pricing, research methodology, primary interviews with key opinion leaders, Data Bridge Market Research report position grid, market challenge matrix, secondary sources, and assumptions. This market report accomplishes a comprehensive analysis of profiles of key market players that provides a competitive landscape.

passive fire protection coatings by the construction industry and the growing demand for passive fire protection coatings in various industries are some of the drivers boosting sulfuric acid demand in the market. Data Bridge Market Research analyses that the passive fire protection coatings market is expected to reach the value of USD 10,897,987.13 thousand by the year 2029, at a CAGR of 4.6% during the forecast period. Intumescent coatings accounts for the most prominent application segment in the respective market owing to rise in the demand from the construction industry. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario. Passive fire protection (PFP) are components of a building or structure that slows or impedes the fire or smoke without system activation, and usually without movement. The instances of passive systems include floor-ceilings and roofs, fire doors, windows, and wall assemblies, fire-resistant coatings, and other fire and smoke control assemblies. Passive fire protection systems can include active components such as fire dampers. The Asia-Pacific is the largest consumer of passive fire protection coatings due to the increased awareness about the same in the region.

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Major Players in Passive Fire Protection Coating markets are:

3M, Hempel A/S, The Sherwin-Williams Company, Hilti Group, AkzoNobel N.V, PPG, Kansai Paint Co.,Ltd, Jotun, Etex Group, GCP Applied Technologies Inc, Sharpfibre Limited, svt Holding GmbH, Rudolf Hensel Gmbh, Isolatek International Corporation, Contego International Inc., Isolatek International, envirograf passive fire products, no-burn inc., TEKNOS GROUP, CARBOLINE, Vijay Systems Engineers Pvt Ltd. among others.

Global Passive Fire Protection Coating Market Segmentation:

The global passive fire protection coatings market is segmented into four notable segments, based on product type, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

Cementitious Material
Intumescent Coating
Fireproofing Cladding
Others

On the basis of product type, the global passive fire protection coatings market is segmented into cementitious material, intumescent coating, fireproofing cladding, and others. the intumescent coating segment is expected to dominate the market as the consumers are more inclined towards the same as it provides protection and an aesthetic look to the metal structure on which it is applied.

Technology

Water-Based Protection Coating
Solvent-Based Protection Coating

On the basis of technology, the global passive fire protection coatings market is segmented into water-based protection coating and solvent-based protection coating. The water-based protection coating segment accounts for the largest market share as water-based coatings provide good resistance to heat and abrasion and excellent adhesion compared to other coatings available in the market.

Application

Oil & Gas
Construction
Aerospace
Electrical And Electronics
Automotive
Textile
Furniture
Warehousing
Others

On the basis of application, the global passive fire protection coatings market is segmented into oil & gas, construction, aerospace, electrical and electronics, automotive, textile, furniture, warehousing and others automotive segment accounts for the largest market share as it provides a safe passage and time to escape for the people onboard and saves lives which eventually increases the use of the same in the market.

End User

Building & Construction
Oil & Gas
Transportation
Others

On the basis of end user, the global passive fire protection coatings market is segmented into building and construction, oil and gas, transportation and others the building and construction segment accounts for the largest market share due to varied norms set up by the government officials to safeguard the lives of individuals at the time of fire crisis, as protective coatings can control and withstand fire for a longer duration which eventually increases its use by the building and construction sector.

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COVID-19 had a Minimal Impact on Passive Fire Protection Coatings Market

COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Though, the imbalance between demand and supply and its impact on pricing is considered short-term and is expected to recover as this pandemic comes to an end. Due to the halt in production operations in various industries throughout the globe, the demand for passive fire protection coating has gone down tremendously. Also, with the continuously dropping requirements of automotive petroleum refining and many other industries, the manufacturers’ margins are declining, which they earn from the supply of sulfuric acid. However, the governments are taking steps to relax tax, fiscal deficit, and others to minimize the impact.

Recent Developments

In March, Dyneon LLC, a 3M company, announced the acquisition of the business of Hitech Polymers Inc., a manufacturer of specialty thermoplastic polymers and provider of toll thermoplastic compounding services based in Hebron. The addition of Hitech Polymers increases Dyneon’s ability to bring new solutions to existing customers faster

In July, The Sherwin-Williams Company has introduced a revolutionary practical onshore passive fire safety coating. Firetex M90/03 complies with UL 1709 fire protection certification specifications. The launch of a new product has opened new business opportunities for the company.

Restraints/Challenges Faced by the Passive Fire Protection Coatings Market

Availability of Cheaper Alternatives

The availability of cheaper alternatives in the market acts as a major restrain for the market and eventually reduce the consumption of fire protective coatings. Fire protective coatings are comparatively costlier than other fire extinguisher products as these coatings are applied or sprayed which requires human resources as well as time thus making the coatings costlier. Consumers tend to use alternative materials such as heat resistant foams and other materials to cut down the cost which will be incurred for coating the whole area.

Volatility in the Raw Material Costs

Fluctuation in the raw materials costs, the raw materials that are already used in the fire protection coatings are already available at the higher prices. The raw materials which is generally are chemicals are in huge demand thus making it difficult for the manufacturers to procure as well as maintain the availability of the raw materials. The preparing of fire protection materials is the complex process as the greater part of the buyer request the slight differentiation depending on the structure it is used on for ideal outcomes market in the forecast period of 2022-2029.

Passive Fire Protection Coatings Market Regional Analysis/Insights

The passive fire protection coatings market is analyzed and market size insights and trends are provided by country, product type, technology, application and end user as referenced above.

The countries covered in the sulfuric acid market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Luxemburg, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

Asia-Pacific is expected to dominate the global passive fire protection coatings market due to high demand from the construction and building industry. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to growing demand for batteries in the automotive industry in the region.

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Some Points from Table of Content:

Market Overview: It includes six chapters, research scope, major manufacturers covered, market segments by type, Passive Fire Protection Coating market segments by application, study objectives, and years considered.

Market Landscape: Here, the competition in the Worldwide Passive Fire Protection Coating Market is analyzed, by price, revenue, sales, and market share by company, market rate, competitive situations Landscape, and latest trends, merger, expansion, acquisition, and market shares of top companies.

Profiles of Manufacturers: Here, leading players of the global Passive Fire Protection Coating market are studied based on sales area, key products, gross margin, revenue, price, and production.

Market Status and Outlook by Region: In this section, the report discusses about gross margin, sales, revenue, production, market share, CAGR, and market size by region. Here, the global Passive Fire Protection Coating Market is deeply analyzed on the basis of regions and countries such as North America, Europe, China, India, Japan, and the MEA.

Application or End User: This section of the research study shows how different end-user/application segments contribute to the global Passive Fire Protection Coating Market.

Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

Research Findings and Conclusion: This is one of the last sections of the report where the findings of the analysts and the conclusion of the research study are provided.

TOC of This Report @https://www.databridgemarketresearch.com/toc/?dbmr=global-passive-fire-protection-coating-market

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