Fire Stopping Materials Market worth $2.4 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 5, 2021 /PRNewswire/ -- According to the new market research report "Fire Stopping Materials Market by Type (Sealants, Mortar, Boards, Putty &Putty Pads, Cast-in Devices), by Application (Electrical, Mechanical, Plumbing), End-Use (Commercial, Industrial & Residential), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Fire Stopping Materials Market is projected to reach USD 2.4 billion by 2026, at a CAGR of 11.6% from USD 1.4 billion in 2021. Fire stopping is a fire protection system for sealings of any openings to prevent fire, smoke, and heat from passing multiple components. They are generally used in warehouses, office complexes, commercial and industrial buildings. The components of fire stopping materials are made of fire retardant and intumescent materials as well as cementitious motors, silicone, and mineral fibres and rubber compounds. They are majorly used in electrical, plumbing, mechanical, building and construction applications. A properly installed, tested fire stop system will prevent the passage of fire, provide effective smoke barrier, and retard the transmission of heat for a specified period. These can be categorized into eight types- mortars, sealants, cast-in devices, boards, putty and putty pads, collars, wraps/strips, and others. Sealants had a larger share in terms of value in 2020 as compared to mortars and others.
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Electrical is the largest application segment of the fire stopping materials market. North America was the largest market for fire stopping materials in 2020, in terms of value. Factors such as increasing fire safety regulations and increase in fire incidents will drive the fire stopping materials market.
Putty and Putty Pads is estimated to be the fastest-growing type in the fire stopping materials market for the forecast period
Putty is a material with high plasticity, similar in texture to clay or dough, typically used to seal gaps during construction. Firestop putty are mainly used for electrical outlet boxes, sealing pipe and cable insulation, construction joints, solid ceilings, and lightweight partitions to increase their fire-resistance.
It provides full protection against the spreading of smoke and fire during a fire accident. It also provides excellent adhesion to construction substrates and penetrants including gypsum, metal and plastic. These properties are expected to drive the demand of putty and putty pads during the forecast period.
Mechanical was the second largest application for fire stopping materials market in 2020
The fire stopping materials market size for mechanical applications accounted for the second largest share of global fire stopping materials, in terms of value, in 2020 this was led by the demand from the construction industry.
There is a rise in the development of performance-oriented buildings has increased the demand for fire stopping materials in this application. Contractors and builders are now focusing on heating, ventilation, air-conditioning and energy-efficient system designs. This has derived the demand for installation of fire stopping materials, in order to build a well-versed structure with all aspects.
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North America is estimated to be the largest region in fire stopping materials market in 2020.
The North American market accounted for the largest share globally. It is experiencing high growth on account of the increased demand for these materials in new and existing buildings. Major factors that is influencing the growth of this market is the growing construction industry, especially the rise of skyscrapers in the emerging economies. The market growth in this region is majorly driven by stricter building codes and policies.
The key market players profiled in the report include Hilti Corporation (Liechtenstein), 3M (US), Etex Group (Belgium), Knauf Insulation (US), Specified Technologies Inc (US), Sika AG(Switzerland), RectorSeal Corporation (US), BASF SE(Germany), RPM International Inc.(US), Morgan Advanced Materials (UK), Rolf Kuhn GmbH (Germany), Tenmat Ltd. (UK), Encon Insulation Ltd. (UK), Fischerwerke GmbH & Co. KG (Germany), Saint-Gobain Group (France), Rockwool International AS (UK), Supremex Equipments (India), Walraven (The Netherlands), Everkem Diversified Products (US), Abesco Fire Ltd. (UK), Lloyd Insulations (India), Den Braven (The Netherlands), HoldRite (US), Unique fire stop products Inc. (US), and Fire Seals Direct (UK).
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