Fire Stopping Material Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (sealants, mortars, boards, putty & putty pads, collars, wraps/strips, and others); Application (electrical, mechanical, and plumbing); End-User (residential, commercial, and industrial); and Region/Country
Global Fire Stopping Material Market is expected to grow at a significant rate of around 11% during the forecast period 2022-2028. Fire Stopping Material is also known as a fundamental part of passive fireproofing. It refers to the process of filling openings and joints between walls and floors with fire-resistant material for inhibiting the spread of fire between ‘compartments’ within a building. In recent years, the demand for fire-stopping material has risen dramatically due to its rising use in preventing fire, smoke, and heat from passing through multiple components. These components are made of fire retardant and intumescent materials as well as cementitious motors, silicone, mineral fibers, and rubber compound. For instance, in May 2020, BASF launched ZEAL™, a Fluidized Catalytic Cracking (FCC) additive product, to supply more propylene to refiners by enhancing the production of light olefins in FCC units that process Gasoil feedstocks.
3M Company, BASF SE, Lloyd Insulations India Ltd., Hilti Corporation, Knauf Insulation, Morgan Advanced Materials, Saint-Gobain S.A., Sika AG, Specified Technologies Inc., Abesco Fire Ltd. are some of the key players in the market. 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 type, Putty & putty pads fire-stopping material category to witness higher CAGR during the forecast period”
Based on type, the market is segmented into sealants, mortars, boards, putty & putty pads, collars, wraps/strips, and others. Putty & putty pads fire-stopping material category to witness higher CAGR during the forecast period. It is the type of material that has high plasticity, similar in texture to clay or dough, majorly used to seal gaps during construction. In addition, the market is the leading elastomeric paste with quick-acting intumescent qualities that seal openings around through-penetrations and prevent the passage of smoke, hazardous gases, and fire.
“Amongst application, Electrical segment to hold a significant share in the market in 2020”
On the basis of application, the market is categorized into electrical, mechanical, and plumbing. Among these, the electrical segment held a significant share in the market in 2020. This is mainly due to the growing construction industry globally which is demanding need for electrical equipment. As sealants, mortars, and putty are some of the products which are highly used to cover the electrical lines within those construction buildings that are helpful in stopping the fire.
“Amongst end-user, commercial segment to witness higher CAGR during the forecast period”
Based on end-user, the fire-stopping material market has been classified into residential, commercial, and industrial. The commercial category is to witness higher adoption of fire-stopping material during the forecast period. This is mainly because it comprises many facilities such as malls, schools, hospitals, and many others which comprises a lot of gathering in these areas. Additionally, commercial construction is one of the most increasing in both developed and developing countries. Also in developed countries, the construction of grocery stores, drugstore, and quick service restaurants are increasing, while in developing countries, the construction of hospitals, schools and colleges, and retail stores are driving the commercial construction segment.
“Asia-Pacific to hold a significant share in the market”
In 2020, Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing construction and building sector in the region which is demanding need for fire-stopping materials in the region. Additionally, the factors such as population growth coupled with the development of new technologies and products are expected to grow the market in the region. Moreover, improving lifestyles and rising incomes are also contributing to the prosperity of the market in the developing countries of the region However, many industry experts expect infrastructure development in the region to get a boost as many companies are investing in the region’s construction industry. Hence, the factors mentioned above explain the growth of fire-stopping material growth in the region.
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 portfolio, 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.
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Table of Contents
Research Methodology for the Fire Stopping Material Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global fire stopping material market were the three major steps undertaken to create and analyze the adoption of fire stopping material 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 stopping material 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:
Detail secondary study was conducted to obtain the historical market size of the fire stopping material 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 stopping material 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 type, application, 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 stopping material market. Further, we conducted factor analysis using dependent and independent variables such as various types, drive types, and application of fire stopping material. 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 stopping material 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 stopping material 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 2028 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 stopping material market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global fire stopping material 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 stopping material market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, application and end-user in the global fire stopping material market.
The main objective of the Global Fire Stopping Material Market Study
The current & future market trends of the global fire stopping material 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 stopping material 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 type, application, and end-user.
- Define and analysis of the regulatory framework for the fire stopping material
- 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 stopping material 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 stopping material 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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