According to a market report by Lucintel, the future of the fire resistant material market looks promising with opportunities in residential, commercial, and industrial applications. The global fire resistant material market is expected to reach an estimated $5.2 billion by 2028 with a CAGR of 7.2% from 2023 to 2028. The major drivers for this market are increasing use of fire resistant materials in various construction activities, supporting regulations and construction standards for the use of fire resistant materials, and significant application of fire repellent materials in the casting process of these electronic components to prevent small fires from turning into larger fires.
Sealants, mortars, spray, sheets/boards, and putty are the major segments of the fire resistant material market by product type. Lucintel forecasts that sealants will remain the largest product type segment over the forecast period due to their expanding use as a fire protection measure in wall joints and steel constructions.
Within this market, commercial is expected to remain the largest application segment due to the increasing usage of fire retardant materials in commercial structures to protect compartmentation and restrict the spread of a fire from one area to another.
APAC will remain the largest region due to the continuous growth in industrial and constructional activities, rising population, and supportive government spending for this market in the region.
AkzoNobel, 3M, Sika AG, BASF SE, and Hilti are the major suppliers in the global fire resistant material market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global fire resistant material market by product type, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Fire Resistant Material Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global fire resistant material market by product type, application, and region, as follows:
Fire Resistant Material Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Sealants
Mortar
Spray
Sheets/Boards
Putty
Others
Fire Resistant Material Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Residential
Commercial
Industrial
Fire Resistant Material Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the fire resistant material market by product type (sealants, mortar, spray, sheets/boards, putty, and others), application (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?