The future of the global passive fire protection coating market looks promising with opportunities in the building & construction, oil & gas, and transportation markets. The global passive fire protection coating market is expected to reach an estimated $5.5 billion by 2030 with a CAGR of 3.8% from 2024 to 2030. The major drivers for this market are increasing steel usage in construction and building projects, rise in fire incidents, and strict governmental guidelines and fire safety requirements.
Some of the Key Questions answered in this exclusive report are:
Q.1. What are some of the most promising, high-growth opportunities for the passive fire protection coating market by type (intumescent and cementitious), technology (water-based and solvent-based), end use (building & construction, oil & gas, transportation, and others), 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 5 years and what has its impact been on the industry?
Market Segmentation:
In this market, intumescent and cementitious are the major segments of passive fire protection coating market by type.
Lucintel forecasts that intumescent will remain the larger segment over the forecast period because it minimizes maintenance requirements, increase durability, extend shelf life, and aid in preventing corrosion in steel building structures.
Within this market, building & construction will remain the largest segment because the usage of passive fire protection coatings in the building and construction sector is expanding quickly as a result of stricter rules being put in place and greater public awareness of the need to safeguard persons and property.
APAC is expected to witness highest growth over the forecast period due to the increased usage of passive fire protection coatings in a variety of sectors, the expanding middle-class population and higher standards of living are predicted to result in a growth in the demand for fire protection coatings.
Akzo Nobel, PPG, The Sherwin-Williams Company, Promat International, Carboline, Hempel, KANSAI Paint, Nullifire, Jotun, and Teknos Group are the major suppliers in the passive fire protection coating market.