Fire Blanket Market: Current Analysis and Forecast (2023-2030)

Report Description

The Fire Blanket Market was valued at 268 Million in the year 2022 and is expected to grow at a strong rate of around 6.1% during the forecast period (2023-2030), owing to rising urbanization and stringent fire safety laws. Furthermore, the booming housing market, coupled with the expansion of commercial public spaces such as offices, malls, hospitals, and recreational centers, has increased the importance of fire safety. Governments and regulatory bodies worldwide are implementing stringent fire safety laws and building codes to ensure the protection of lives and property. These regulations necessitate the inclusion of fire safety equipment, including the use of fire blankets. Moreover, over the years, the growing number of fire incidents has raised concerns about fire hazards and safety. Media coverage of such incidents has increased public awareness, making people more conscious of fire risks. Individuals are now more proactive in taking precautions and investing in fire safety products to safeguard their homes and workplaces. Fire blankets, with their ability to effectively smother flames quickly, are gaining popularity as an essential fire safety measure. Additionally, EVs present unique fire safety challenges due to the advanced battery technologies they employ. For instance, in January 2023, an electric car in the Numaish parking lot in Hyderabad India caught fire, resulting in three cars being completely burnt to ashes and three others being partially burned. While EVs have safety features built into their designs, the demand for fire blankets is increasing as an additional precautionary measure in case of battery-related fires. EV manufacturers and users are recognizing the importance of fire blankets as a preventive measure, further propelling their market potential, and this can also be witnessed in the product launches that are undertaken in this space. For instance, on October 2023, JohnDow Industries, a renowned supplier of automotive aftermarket equipment, unveiled its latest collection of Electric Vehicle (EV) and hybrid Service and safety Products at AAPEX 2023 in Las Vegas. This innovative line includes 30 safety products designed to enhance safety measures while servicing electric and hybrid vehicles. The standout product was the Vehicle Fire Blanket, which is crucial for protecting service repairers and vehicles from the hazards of lithium-ion battery fires.

Some of the major players operating in the market include ECOSAFE sa; TEXPACK® srl Unipersonale; Auburn Manufacturing, Inc.; INSULFLLEX; BSTFLEX Ningguo BST Thermal Products Co., Ltd.; Jactone Products Limited; IC International Limited; JUNKIN; ACMETEX INC; and Safelincs Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Materials, the glass fiber blanket segment held the significant market share in 2022.”

Based on material, the market is segmented into glass fiber fire blankets, asbestos fire blankets, cotton fire blankets, and others. The glass fiber fire blanket holds most of the market share. The primary factors that are responsible for this high demand include safety and effectiveness, where glass fiber fire blankets can withstand high temperatures and isolate fire effectively, preventing its spread and protecting the user. Furthermore, glass fiber fire blankets are typically lightweight and flexible, making them simple to handle during emergencies. Moreover, glass fiber fire blankets are known for their durability and long lifespan. They can withstand repeated use without compromising their effectiveness, which contributes to their reliability and cost-effectiveness. Additionally, asbestos fire blankets, which contain harmful asbestos fibers, are being phased out due to their associated health risks. This regulatory phase-out has further increased the demand for alternative fire blanket options, such as glass fiber blankets. For instance, in the year 2023, the Oregon Legislatures reintroduced a bill to prohibit the utilization of asbestos. Additionally, in 2022, the U.S. Environmental Protection Agency proposed a ban on chrysotile asbestos. This ban would compel American companies to cease the usage of asbestos within two years.

“Amongst coating types, the aluminized coatings held a significant share of the market in 2022.”

Based on coating type, the market is segmented into aluminized, acrylic, silicone, and others. The aluminized coating is mostly used in fire blankets and holds most of the market share in this segment. The primary factors that are responsible for this dominance include the fire resistance capability, where Aluminized coatings offer excellent resistance to high temperatures and flame spread. They are also capable of reflecting the radiant heat, protecting against thermal hazards. Furthermore, the reflective nature of the aluminized coating enhances its heat resistance properties. It helps repel heat, preventing the fire from spreading or causing further damage. Moreover, the aluminized coating acts as an effective insulator, minimizing heat transfer and providing a protective barrier between the fire and the user or the surrounding environment. For instance, as per the research published by the Fire and Material International journey, the HBEs (heat blocking efficiency) for most aluminized materials exhibit remarkably high values, ranging from 90% to 98% relative to the other materials used as a reflective coating, if the reflective surface is properly maintained.

“North America has held the significant share of the market in 2022.”

The North American region is considered the largest market for fire blankets and there is a high demand for them in the region. The primary factors that are responsible for this high demand pertain to the factors that include stringent safety regulations in the region. North America, especially the United States, has strict safety regulations in various industries such as manufacturing, construction, healthcare, and hospitality. These regulations often require the presence of fire safety equipment, including fire blankets. Furthermore, North America has a significant industrial sector, including manufacturing, oil and gas, and chemical industries. These sectors often deal with hazardous materials and processes, increasing the need for fire safety measures, including fire blankets. Additionally, rapid urbanization and infrastructure development in North America have resulted in the construction of high-rise buildings, shopping complexes, hospitals, and hotels. These establishments require fire safety equipment, including fire blankets, to protect occupants and property.

Fire Blanket Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global fire blanket market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Fire Blanket Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global fire blanket market were the three major steps undertaken to create and analyze the adoption of fire blankets in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global fire blanket market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the fire blanket market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the fire blanket market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as material, coating type, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Fire Blanket market. Further, we conducted factor analysis using dependent and independent variables such as material, coating type, and end-user of the fire blanket market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the fire blanket market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Fire Blanket market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the fire blanket market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global fire blanket market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global fire blanket market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the material, coating type, and end-user in the global fire blanket market.

The main objective of the Global Fire Blanket Market Study

The current & future market trends of the global fire blanket market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the fire blanket market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of material, coating type, and end-user.
• Define and analyze the regulatory framework for the fire blanket
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the fire blanket market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the fire blanket market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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