Insights on Passive Fire Protection Market

June 20, 2024

The global passive fire protection market size is anticipated to reach USD 6.29 billion by 2030, registering a CAGR of 5.6% from 2024 to 2030. The stringent regulations regarding building safety and increased product innovation in fire protection coatings and materials are expected to fuel market growth in the coming years.

Oil & gas companies’ increasing investments in exploration and production activities have boosted the demand for hydrocarbon intumescent coatings. Fire protection forms an integral part of structural steel safety in industries, including oil & gas and chemical industries, where fire accident risks are extremely high owing to the combustion of hydrocarbon fuels such as natural gas, methane, and LNG.

According to the BP Statistical Review of World Energy 2022, global oil production increased by 1.4 million b/d in 2021, and is estimated to grow significantly in non-OPEC and developing countries. The growth of the passive fire protection market is anticipated to be pushed upward on account of the mature conventional oil & gas resources, specifically by the increasing demand for shale gas, energy, tight gas, and coal bed methane (CBM). Increased investments in maintaining and repairing global oil & gas drilling devices and platforms are also expected to drive the demand for intumescent coatings, thus driving the growth of the passive fire protection market.

Consumers’ rising disposable income and increased spending capacities have propelled market growth in upscale residential projects in the region, which, in turn, is expected to drive the demand for passive fire protection products in the construction sector. Large-scale investments in infrastructure and buildings in countries including Qatar, the UAE, and Saudi Arabia in the MEA are expected to propel market growth. Moreover, the increasing adoption of intumescent coatings and fire-stopping materials in the residential and commercial infrastructure is expected to drive market demand over the forecast period. These coatings’ aesthetic visual appearance and extreme weather resistance drive their application in civil construction.

Passive Fire Protection Market Report Highlights

Based on product, the cementitious materials segment dominated the global passive fire protection market in 2023, accounting for 42.1% of the total revenue share. The applications of cementitious materials vary, depending on the material’s density, thickness, and bond strength.
The construction application segment held the largest share of the U.S. revenue in 2023. The rising global demand for broader, energy-efficient, and fire-safe infrastructure is expected to drive the for passive fire protection system demand over the forecast period.
Asia Pacific dominated the global passive fire protection market on account of the rising industrialization. Furthermore, the growing use of steel structures in the fabrication of plants is expected to drive market growth in the region.
In February 2023, PPG Industries, Inc. launched an epoxy intumescent fire protection coating, PPG STEELGUARD 951, developed to fulfill modern architectural steel demands, offering up to 3 hours of cellulosic fire protection.

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