The growth of accidents and the loss
of assets caused due to fire on a global scale is one of the major factors
driving the demand for passive fire protection materials. The global market for
passive fire protection material is witnessing tremendous growth since the last
decade. Some of the basic types of passive fire protection material used by the
construction industry to prevent fire in buildings include fire doors, fire
resisting cables, fire linings, fire resisting partitions, fire resisting
glass, fire screens etc.
The global market for passive fire
protection materials is expected to grow at a double digit rate over the next
six years. The market is primarily driven by the increase in incidences of fire
related accidents on a global scale. The death toll caused due to fire
accidents was estimated to be over 12,000 in the U.S., over 6,800 in Europe and
more than 50,000 in the Asia Pacific region per year till 2010. The loss
of assets caused due fire accidents was approximately USD 90 billion globally
in 2010. So in order to decrease these figures, the world is shifting its focus
towards the use of passive fire protection materials which help in minimizing
the accidents caused due to fire. However, the market is highly dependent
on the health of the economies in various regions.
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The global market for passive fire
protection materials is considered to be highly fragmented with a large number
of participants operating in the global market and enjoying almost equal amount
of market share. Asia Pacific holds immense opportunities for the players
operating in the market owing to a steady growth in the construction industry,
mainly in emerging economies of China and India. China and India are two of the
fastest growing economies of the world whose GDP growth rates are increasing at
a faster pace than the global GDP growth rate. The rapid rate of
construction in Eastern Europe is also expected to drive the market over the
next six years.
Some of the major companies operating
in the global market for passive fire protection materials include ADT Fire
& Security, Cooper Industries, GE Security, and Honeywell Inc.
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
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