By 2024, the market for fire stopping material is projected to be worth approximately USD 2.1 billion. Over the course of the forecast period, a compound annual growth rate (CAGR) of 12.2% is expected, leading to an estimated market size of USD 6.5 billion by 2034.
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.
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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 Analyst 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)
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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 Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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