The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Fire Stopping Material Global Market Report 2024 offers crucial insights into the fire stopping material market help businesses analyse and build stronger strategies.

The fire-stopping materials market has witnessed robust growth in recent years, fueled by various factors such as stringent regulations and a rising awareness of fire safety. Let’s delve into the driving forces behind this growth, major trends shaping the market, and key industry players leading the way.

Current Market Growth

Recent Performance (2023-2024)

• Market Size: Increased from $1.52 billion in 2023 to $1.66 billion in 2024.
• Growth Rate: Compound Annual Growth Rate (CAGR) of 9.6%.
• Key Drivers:
  • Building Regulations: Strict building codes and regulations driving demand.
  • Awareness: Increasing awareness of fire safety measures.
  • Construction Activities: Growth in construction projects worldwide.
  • High-Risk Environments: Stringent requirements in critical infrastructure.
  • Insurance Mandates: Insurance industry mandates influencing market demand.

Future Market Projections (2024-2028)

Expected Growth

• Market Size: Projected to reach $2.47 billion by 2028.
• Growth Rate: CAGR of 10.4%.

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• Key Drivers:
  • Construction Boom: Rapid growth in the construction industry.
  • Sustainability: Focus on sustainable and eco-friendly solutions.
  • Critical Infrastructure: Stringent fire safety requirements in vital infrastructure projects.
  • Retrofitting Projects: Increasing adoption in retrofitting existing buildings.
  • Life Safety: Global emphasis on protecting lives and property from fire hazards.

Major Trends

• Intumescent Technology: Advancements in intumescent coatings for fire protection.
• Environmentally Friendly Formulations: Development of eco-friendly fire-stopping materials.
• Flexible Solutions: Innovative sealant solutions for versatile applications.
• Code Compliance: Adherence to strict fire safety codes and standards.
• Fire Retardant Additives: Innovations in additives for enhanced fire resistance.

Rising Fire Incidents Driving Demand

The Urgent Need

• Increasing Incidents: Growing number of fire incidents worldwide.
• Impact: Loss of lives, property damage, and economic costs.
• Example: In 2021, US fire departments responded to 1.35 million fire incidents, resulting in significant casualties and property loss.

Key Market Players

Major companies in the fire-stopping materials market include:

• Hilti Corporation
• 3M Company
• Sika AG
• Morgan Advanced Materials
• Knauf Insulation
• BASF SE
• Specified Technologies Inc.
• RectorSeal LLC
• Roxul Inc.
• Arkema Group

Product Innovation Drives Market Growth

Cutting-Edge Solutions

• Innovative Products: Development of advanced fire-stopping materials.
• Example: Nullifire Ltd. introduced FS719 HP Blue, offering up to two hours of fire resistance and easy identification features.

Strategic Acquisitions

• Market Expansion: Companies expanding their capabilities through acquisitions.
• Example: Perimeter Solutions acquired Magnum Fire & Safety Systems to enhance its firefighting foam system integration.

Market Segmentation
The fire-stopping materials market is segmented based on:

• Type: Coatings, Mortar, Sealants and Fillers, Sheets and Boards, Spray, Preformed Device, Putty, Cast-In Devices, Other Types
• Application: Electrical, Mechanical, Plumbing, Other Applications
• End-User: Commercial, Industrial, Residential

Regional Insights

• North America: Dominated the market in 2023.
• Asia-Pacific: Expected to witness the fastest growth, driven by increasing construction activities and stringent fire safety regulations.

The fire-stopping materials market plays a critical role in protecting lives and property from fire hazards. With increasing awareness, stringent regulations, and technological advancements, the market is poised for significant growth in the coming years. As industry players continue to innovate and expand their offerings, the focus remains on ensuring robust fire safety measures for a safer built environment.

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The Fire Stopping Material Global Market Report 2024  provides a comprehensive outlook of the fire stopping material market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The fire stopping material market forecast offers a thorough analysis on fire stopping material market size, fire stopping material market share, prominent players and their strategies.

The Table Of Content For The Fire Stopping Material Market Include:
1. Fire Stopping Material Market Executive Summary
2. Fire Stopping Material Market Segments
3. Fire Stopping Material Market Size And Fire Stopping Material Market Growth Rate
4. Key Fire Stopping Material Market Trends
5. Major Fire Stopping Material Market Drivers
……
25. Key Mergers And Acquisitions In The Fire Stopping Material Market
26. Top Fire Stopping Material Companies
27. Fire Stopping Material Market Opportunities And Strategies
28. Fire Stopping Material Market, Conclusions And Recommendations
29. Appendix

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