Future Market Insights, Inc. (FMI) predicts a fiery future for the fire-stopping materials market, fueled by booming construction, stringent regulations, and diverse industry applications. Explore the complex dynamics of this growing market and discover stakeholder opportunities in our detailed FMI report.
NEWARK, Del., Jan. 24, 2024 /PRNewswire/ -- The Fire Stopping Material Market is estimated to be around US$ 2.1 billion in 2024. It is projected to exhibit a CAGR of 12.2% over the forecast period, with an estimated market size of US$ 6.5 billion by 2034.
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The tremendous revival of the construction sector, especially after the pandemic has pushed the demand for efficient fire stopping materials to ensure enhanced safety in new constructions and renovations. Fire stopping materials, such as sealants, mortars, coatings, etc., have become increasingly vital in meeting stringent safety standards and regulations in the construction industry.
Fire stopping materials also find their applications in industries other than construction and infrastructural development. Their versatility makes them fit for various industries such as manufacturing, oil and gas, aerospace, electrical, telecommunications, etc. The demand for fire stopping materials in these industries is attributed to their ability to protect critical assets, machinery, and industrial equipment from fire incidents.
The adoption of fire stopping materials is rising as they offer crucial fire safety solutions for high-rise buildings and structures. Government authorities and building regulatory bodies also play a pivotal role in promoting the utilization of fire-stopping materials in educational institutions, public buildings, hospitals, theatres, etc. This has led countries such as China, the United States, Japan, and the United Kingdom to dominate the global market for fire stopping materials.
"Companies must often collaborate with construction companies, architects, regulatory bodies, and other stakeholders to ensure that fire stopping materials are integrated seamlessly into building designs and projects," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the Market Study
- The sealants segment dominates the global fire stopping material market.
- On the basis of applications, the electrical segment leads the fire-stopping material market with a CAGR of 11.80% through 2034.
- The fire stopping material market in the United States is predicted to grow at a remarkable CAGR of 12.50% through 2034.
- The fire stopping material market in South Korea is predicted to rise at a whopping 14.20% CAGR through 2034.
- The fire stopping material market in Japan has the potential to increase at a 13.80% CAGR through 2034.
- The Chinese fire stopping material market is predicted to rise at a 12.80% CAGR through 2034.
- The fire stopping material market in the United Kingdom is predicted to grow at a CAGR of 13.20% through 2034.
Competitive Landscape
Key players like Hilti Corporation, 3M Company, Rockwool International A/S, BASF SE, Specified Technologies Inc. (STI), H. B. Fuller Company, and RectorSeal LLC have strategically expanded and diversified their product portfolios to remain competitive in the global market for fire stopping materials.
Key Companies Profiled in the Report:
- Hilti Corporation
- 3M Company
- Rockwool International A/S
- BASF SE
- Specified Technologies Inc. (STI)
- H. B. Fuller Company
- RectorSeal LLC
- STI Firestop
- Promat International
- Metacaulk (a product line of RectorSeal)
- Everbuild Building Products Ltd.
- Ruskin Company
- Roxul Inc. (now known as Rockwool)
- Emerson Electric Co. (Formerly known as Nelson Firestop)
- Fosroc International Limited
- FlameStop Australia Pty Ltd.
- Rheinzink
- Lloyd Industries Inc.
- Fendolite (India) Limited
- R. Brothers Waterproofing Industries Pvt. Ltd.
These key players recognize the importance of providing comprehensive solutions for various industries. By offering fire-stopping materials that address the specific needs of construction, infrastructure, and manufacturing, they position themselves as providers of industry-wide solutions.
These companies are also actively adopting emerging technologies in manufacturing. The integration of automation and advanced material science into their production processes helps them maintain efficiency, ensuring they remain competitive in the dynamic landscape of fire-stopping materials.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Fire Stopping Materials Market Segmentation
- By Type:
- Mortars
- Sealants
- Cast-in devices
- Boards
- Putty and Putty Pads
- Collars
- Wraps/strips
- Others
- By Application:
- Electrical
- Mechanical
- Plumbing
- Others
- By End Use:
- Commercial
- Industrial
- Residential
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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