Passive Fire Protection Market to hit $25 Billion by 2027, Says Global Market Insights Inc.

Major passive fire protection market players includes ASSA ABLOY AB, Hörmann KG Verkaufsgesellschaft, Rapp Bomek AS, Chase Industries, Mesker Openings Group, UK Performance Doorsets, Asahi India Glass Limited, Promat, Isolatek International Corporation, Halton Group, Ruskin Company, Stonhard, 3M, Saint-Gobain, Tremco and Pyroplex Ltd.

SELBYVILLE, Del., Oct. 19, 2021 /PRNewswire/ -- The passive fire protection market is expected to surpass USD 25 billion by 2027, as reported in the latest study by Global Market Insights Inc. The increasing residential & commercial construction activities coupled with rising cases of fire-related accidents & deaths are expected to increase industry growth.

Fire protection systems can assist with the management or extinguishment of a fire as well as the evacuation of occupants and the preservation of a property from harm. Fire damper segment is set to witness around 4% CAGR through 2027. However, the increasing residential construction in developed & developing economies will open potential opportunities for fire dampers. The objective of fire dampers is to prevent flames from spreading across a rated barrier. They work by activating a heat-sensitive mechanism, which melts the damper components and causes them to close.

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In 2020, the Middle East & Africa generated around USD 1 billion and is expected to show promising future. Increasing investments from government bodies are expected to accelerate the construction sector growth. Moreover, the high urbanization rate in the Middle Eastern countries also contribute to the market expansion.

Some major findings of the passive fire proofing system market report include:

• The bio-based fire-related materials & systems are emerging as one of the most promising next-generation fire-retardant materials due to their environmental benefits, sustainability, and better efficiency compared to the current flame retardant systems.
• The COVID-19 pandemic has caused supply chain disruptions across all major industries. The construction sector experienced massive impacts across the globe. However, due to imposed lockdowns, international trade sustained heavy damages in the initial phases of the pandemic.
• The rising commercial & industrial construction activities in major European nations including Italy, the UK, France, Germany, and Spain will offer promising growth to the European passive fire protection market.
• Rising urbanization & industrialization, low labor cost, abundance of raw materials, liberal trade policies, supportive government regulations, and increasing industrial output are predicted to drive the market in Asia Pacific till 2027.
• North America and Europe are the major regions that have adopted the passive fireproofing system, however, the growing spending and rising awareness of fire-rated structures in developing nations are poised to augment the market size.

Browse key industry insights spread across 180 pages with 125 market data tables and 35 figures & charts from the report, "Passive Fire Protection Market Size By Product (Fire Resistant Walls & Floors, Fire Dampers, Fire Doors, Fire Stops, Fire Resistant Glasses, Structural Steel Protection), By Application (Structural Fire Protection, Compartmentation, Fire Stopping Materials, Opening Protection), By End-user (Residential, Commercial, Institutional), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/passive-fire-protection-market

Some of the major manufacturers in the passive fire proofing system market are ASSA ABLOY AB, Hörmann KG Verkaufsgesellschaft, Rapp Bomek AS, Chase Industries, Inc., Mesker Openings Group, UK Performance Doorsets Ltd., Asahi India Glass Limited, Promat, Isolatek International Corporation, Halton Group, Ruskin Company, Stonhard, Inc., 3M, Saint-Gobain S.A., Tremco, Inc., and Pyroplex Ltd.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.