The global passive fire protection market is expected to reach USD 7.13 billion by 2022, according to a new report by Grand View Research, Inc. Growing demand for upscale residential projects is expected to drive the passive fire protection market.
Rising investment in automation and digitization of the industries coupled with growing use of passive fire protection in warehousing application is expected to drive growth over the forecast period.
In addition, rising use of the product in automotive and shipbuilding is expected to drive the demand in Europe and North America. Growing need of minimizing the asset loss is also expected to fuel product demand over the next seven years.
Further key findings from the report suggest:
Rising investment in automation and digitization of the industries coupled with growing use of passive fire protection in warehousing application is expected to drive growth over the forecast period.
In addition, rising use of the product in automotive and shipbuilding is expected to drive the demand in Europe and North America. Growing need of minimizing the asset loss is also expected to fuel product demand over the next seven years.
Further key findings from the report suggest:
- Intumescent coating segment is expected to grow at a CAGR of over 4.0% from 2015 to 2022. Rising investment by the oil & gas firms in improved exploration technologies including hydraulic fracturing and horizontal drilling is expected to drive the market demand. Intumescent coatings are being widely used in manufacturing and power industry.
- Industrial sector accounted for over 20.0% share of the passive fire protection market owing to capacity expansion and technology upgradation. In addition, government policies including the grant of incentives and subsidies to promote the development of new manufacturing facilities in emerging economies including India, Brazil and Africa is expected to augment demand.
- North America market is expected to grow at a CAGR of 4.5% from 2015 to 2022. Rising investment to improve their downstream capability and upstream operations prospect is expected to drive growth. The aerospace industry is expected to witness significant growth in the region owing to lower interest rates and availability of financing options.
- Europe demand for passive fire protection was valued at over USD 1.30 billion in 2014. Europe is expected to witness a steady growth in consumption from warehousing industry owing to rising investment to improve logistics infrastructure coupled with rising government initiatives to improve freight transportation services in the region. However, reducing oil imports coupled with stiff competition from new refining facilities in Asia Pacific and the Middle East is expected to affect the global share of Europe in oil & gas industry over the forecast period. This, in turn, is expected to pose a challenge to market growth over next seven years.
- Nullifire is a key market player which manufactures intumescent coatings, foams, fire curtains, seal bags, sealants and putty pads. In July 2011, Nullifire launched new service which helps public sector clients to ensure maximum fire resistance. Key companies include Lloyd Insulations (India) Ltd., Nullifire, Hempel, Sherwin-Williams, HILTI, and Carboline.
Sample Request:
http://www.radiantinsights.com/research/passive-fire-protection-market/request-sample
Table of Contents:
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Passive Fire Protection Market- Industry Summary and Key Buying Criteria, 2012 - 2022
Chapter 3. Passive Fire Protection Industry Outlook
3.1. Passive fire protection market segmentation
3.2. Passive fire protection market size and growth prospects, 2012 - 2022
3.3. Passive fire protection market - Value chain analysis
3.3.1. Vendor landscape
3.4. Raw material outlook, 2012 - 2022
3.5. Technology overview
3.6. Regulatory framework
3.7. Passive fire protection market dynamics
3.7.1. Market driver analysis
3.7.1.1. Increasing explorations in oil & gas industry
3.7.1.2. Rapid urbanization and boom in construction sector in developing countries
3.7.1.3. Increasing consumer awareness and fire safety regulations
3.7.2. Market restraint analysis
3.7.2.1. Volatile raw material prices
3.8. Key market opportunities prioritized
3.9. Passive fire protection Porter's analysis
3.10. Passive fire protection competitive landscape, 2014
3.11. Passive fire protection market PESTEL analysis, 2014
No comments:
Post a Comment