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.
Global Firestop Sealants Market: An Overview
The global firestop sealants market is a fragmented, and competitive landscape with large numbers of small, and large players. According to latest ZMR forecast, the market reached a valuation of $410 mn in 2019. Additionally, the market will generate a demand of 200 kilo tons by 2025 end.
Firestop sealants are widely used in commercial, residential, and industrial areas for sealing small, and disjointed floor assembly. These are known to provide excellent protection from fire hazards, and usually come with certified quality assurance. The firestop sealants promise a long-life for end-users with in-built features to prevent smoke formulations, and spread of injurious toxins.
Global Firestop Sealants Market: Key Trends
Rise in infrastructural activity around the globe will promise major opportunities for growth for players in the global firestop sealants market during the forecast period. Indian finance minister announced an infusion of $1.4 trillion in infrastructural developments in the economy during 2019-2025 period. The large investment will result in construction of airports, bridges, highways, ports, among other new construction. On the other hand, China has invested in a similar manner in its Belt & Road initiative in recent past. The development will likely continue during the forecast period. Moreover, the US, reeling from lack of an aging infrastructure will likely invest heavily into repair, and maintenance of its aging dams, highways, during the forecast period.
The rising scope of application for fire sealants in a wide variety of applications like metal products, floors, cables, walls, among others will result in major growth. According to recent global study titled, ‘Global Construction 2030’, the construction sector will grow by 85% by 2030. The construction sector will reach a valuation of $15.5 trillion by 2030, with heavy investments from India, China, and the US, resulting in more than half of the total growth.
Global Firestop Sealants Market: Segmentation
The global firestop sealants market report will be segemented on the basis of product, application, end-use, and regions. Among applications, the market will be divided by pipe, and cable penetrations, facades, curtain walls, and concrete floor. Among these, the pipe sealants will likely witness tremendous growth, thanks to rising exploration activity for oil & gas in both on-shore, and off-shore sites. Moreover, the investment in infrastructure will also provide a major boost to the pipeline segment. The firestop sealants market report will also provide insights on silicone, and acrylic products. The rising demand for paintable sealants will likely push growth of the acrylic sealants for residential use. However, the industrial and application-specific use of silicone sealants promises to remain strong during the forecast period.
Global Firestop Sealants Market: Regional Analysis
The global firestop sealants market report will cover various regions including North America, Asia Pacific, Latin America, Middle East & Africa, and Europe. The growing demand for sealants in the construction sector for residential, and commercial infrastructure will remain a major driver of growth in Asia Pacific. The looming investment remains a major promise for growth in North America, as well Asia Pacific region in the near future.
Global Firestop Sealants Market: Competitive Analysis
The global firestop sealants market remains a moderately fragmented landscape with a growing emphasis on innovation. Some key players in the market are 3M, Tremco, HILTI Corp., Bostik (Arkema), and Sika AG.
By End Use