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In a recent published report, Kenneth Research has updated the market report for Passive Fire Protection Coatings Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Passive Fire Protection Coatings Market products.
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A report on Passive Fire Protection Coatings Market has recently been added into the repository of market research reports of Kenneth Research. The report, which is calculated for the forecast period 2021 2025, provides an in-depth analysis on the opportunities, latest trends, challenges and the growth drivers that are associated with the growth of the market. The market is thriving on account of the growing need for chemicals that are less toxic, backed by the stringent government regulations to regulate chemical pollution. It is estimated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2021. On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities.
Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
Global Passive Fire Protection Coatings Market
Passive Fire Protection Coatings Market by End-Use Industry (Building & Construction, Oil & Gas, Transportation), Technology (Water-Based, Solvent-Based), by Product (Intumescent, Cementitious) and Region (North America, Asia Pacific, Europe, Latin America, Rest of the World) – Market Size, Status and Forecast to 2025
Market Analysis:
The global passive fire protection coatings market is projected to reach 4.81 billion by 2025 from an estimated value of 2.74 billion in 2016, growing at a CAGR of 6.7% from 2017 to 2025.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Market Definition:
Passive fire protection (PFP) forms an integral component of the three components of structural fire safety and fire protection in a building. It majorly involves construction of fire-resistant walls, floors, and doors (amongst other examples). PFP systems. The growing instances of building catching fire is expected to boost the demand for passive fire protection coatings. The demand for these coating is expected to grow rapidly over the forecast period due to stringent fire regulations and growing product innovation
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Rise in fire incidents
1.2 Stricter government regulations and fire safety standards
2. Market Restraints
2.1 Availability of cheaper substitutes
2.2 Lack of awareness in developing countries
Market Segmentation:
The global passive fire protection coatings market is segmented on the basis of process, end use industry, and region.
1. Global Passive Fire Protection Coatings Market, by End Use:
1.1 Building & Construction
1.2 Transportation
1.3 Oil & Gas
1.4 Others
2. Global Passive Fire Protection Coatings Market, by Technology:
2.1 Solvent based
2.2 Water based
3. Global Passive Fire Protection CoatingsMarket, by Product:
3.1 Intumescent Coatings
3.2 Cementitious Coatings
4. Global Acrylic Emulsions Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Akzo Nobel
2. PPG Industries
3. The Sherwin Williams Company
4. Promat International
5. Carboline
6. Hempel A/S
7. Kansai Paints
8. Nullifire
9. Jotun
10. Teknos Group
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Passive Fire Protection Coatings Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products' demand, growth and opportunities for new and existing players.
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Darlene Dooley
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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