24-Mar-2020 | Zion Market Research
The global firestop sealants market size valued more than USD 410 million in 2019 and is projected to witness demand more than 200 kilo tons by the end of 2025. The global market share is fragmented moderately and is competitive with key players comprising Tremco, 3M, Bostik (Arkema), HILTI Corp., and Sika AG. Makers are majorly involved in varying plans compromising partnerships, mergers & acquisitions, capacity expansion, and joint ventures to implement new tech for rising production ability to meet the ever-increasing product requirement. For example, in August 2017, Sika AG declared the purchase of ABC Sealants. Via this purchase, the firm was capable of catering the developing firestop sealants market in the Middle East area and support user requirement for well-organized fireproofing products.
Rise In Infrastructural Development To Boost The Growth Of Global Firestop Sealants Market In The Forecast Period
Increase in infrastructural growth supported by government programs for construction of hospitals, new schools, government offices, and airports have created requirement for fire protection materials. Positive scope of application as a fireproofing substance in pipes, wires, metal products, cables, and concrete floors/walls all over non-industrial and industrial structures is anticipated to boost the firestop sealants market by the end of 2025.
Stringent government laws pertaining to fire security all over industrial segment to guarantee safe working surrounding is expected to drive the demand of the product. Rising industrial output due to fast expansion of manufacturing plants in U.S., China, Germany, and Japan is expected to offer solid business outlook for industry players. Factors such as high flexibility and durability will boost he product application scope for facades, curtain walls, and concrete floors all over industrial segment.
Global Construction Market Is Anticipated To Witness Gains Of Over 4.2%
Increasing investments in the construction of commercial and residential spaces will cater to the increasing rising demand for firestop sealants. Moreover, favorable government rules compromising housing for all, and reduced bank rates will boost the growth of the residential construction in years to come. Factors such as high durability will boost the adoption rate of product in sealing of expansion joints, porous & nonporous substrates, electrical conduits, sanitary fixtures, ducts, pipes, and electrical wiring in ceilings.
The size of the global market is projected to surpass significantly by the end of 2025. Firestop sealants stop smoke and fire migration between spaces and assists to enhance quality of air by limiting toxic gases and pollutants from contaminating indoor quality of air. Current advancements in thermal insulation and enhanced R&D programs will add towards firestop sealants requirement. Existence of enhanced fireproofing substituting goods comprising intumescent coatings and flame retardant masterbatches providing cost-efficient and advanced fire protection solutions might hinder industry development.
Browse the full “Firestop Sealants Market Size By Product (Silicone, Acrylic), By Application (Pipe and Cable Penetrations, Curtain walls, Facades/Partition Walls, Concrete floor), By End Use (Residential, Commercial & Institutional, Industrial) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/firestop-sealants-market
The global firestop sealants market is segmented as follows:
By End Use
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