Asia-Pacific Passive Fire Protection Coatings Comprehensive Growth Research 2022
Asia-Pacific Passive Fire Protection Coatings Market, By Product Type (Cementitious Material, Intumescent Coating, Fireproofing Cladding, Others), Technology (Water-Based Protection Coating, Solvent-Based Protection Coating), Application (Oil & Gas, Construction, Aerospace, Electrical And Electronics, Automotive, Textile, Furniture, Warehousing, Others), End User (Building & Construction, Oil & Gas, Transportation, Others) Industry Trends and Forecast to 2029.
Asia-Pacific Passive Fire Protection Coatings Market Analysis and Size
PFP systems are designed to “prevent” the spread of fire and smoke, or heating of structural members, for an intended limited period as determined by the local building code and fire codes. Passive fire protection measures such as firestops, fire walls, and fire doors, are tested to determine the fire-resistance rating of the final assembly, which is usually expressed in terms of hours of fire resistance (e.g., ?, ¾, 1, 1½, 2, 3, 4 hour).
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Increasing demand for passive fire protection coatings by the construction industry and the growing demand for passive fire protection coatings in various industries are some of the drivers boosting sulfuric acid demand in the market. Data Bridge Market Research analyses that the passive fire protection coatings market is expected to reach the value of USD 3,820,996.19 thousand by the year 2029, at a CAGR of 5.9% during the forecast period. Intumescent coatings accounts for the most prominent application segment in the respective market owing to rise in the demand from the construction industry. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Competitive Landscape and Passive Fire Protection Coatings Share Analysis
The passive fire protection coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to sulfuric acid market.
Some of the major players operating in the Asia-Pacific passive fire protection coatings market are 3M, Hempel A/S, The Sherwin-Williams Company, Hilti Group, AkzoNobel N.V, PPG, Kansai Paint Co.,Ltd, Jotun, Etex Group, GCP Applied Technologies Inc, Sharpfibre Limited, svt Holding GmbH, Rudolf Hensel Gmbh, Isolatek International Corporation, Contego International Inc., Isolatek International, envirograf passive fire products, no-burn inc., TEKNOS GROUP, CARBOLINE, Vijay Systems Engineers Pvt Ltd. among others.
Market Definition
Passive fire protection (PFP) are components of a building or structure that slows or impedes the fire or smoke without system activation, and usually without movement. The instances of passive systems include floor-ceilings and roofs, fire doors, windows, and wall assemblies, fire-resistant coatings, and other fire and smoke control assemblies. Passive fire protection systems can include active components such as fire dampers. The Asia-Pacific is the largest consumer of passive fire protection coatings due to the increased awareness about the same in the region.
COVID-19 had a Minimal Impact on Passive Fire Protection Coatings Market
COVID-19 has impacted various manufacturing industries due to the halt in production operations in various industries throughout the globe, the demand for passive fire protection coating has gone down tremendously. Also, with the continuously dropping requirements of automotive petroleum refining and many other industries, the manufacturers’ margins are declining, which they earn from the supply of sulfuric acid. However, the governments are taking steps to relax tax, fiscal deficit, and others to minimize the impact.
The Market Dynamics of the Passive Fire Protection Coatings Market Include:
- Growing Construction Industry
Growing construction industry in the Asia Pacific region has eventually helped in increasing the overall demand of passive fire protection coating in the market.
- Escalating Application Scope of Passive Fire Protection Coatings in Various Industries
Passive fire protection system limits the fire propagation for a certain period of time. Passive fire protection is a term that includes a wide range of items and practices. In the most shortsighted sense, Passive fire protection alludes to materials incorporated with the structures that encompass us which are expected to slow or forestall the spread of fire.
- Rising Demand of Water Based Fire Protection Coatings
Water based items are accessible with the exceptional properties to individual products. Along with this, water based items will in general get marked as one nonexclusive gathering, various definitions exist. Every item should, along these lines, be considered independently as far as its specialized capacity. Many have come to fruition through broad obliviousness and deception, once in a while advanced by the makers of dissolvable based items.
- Imposition of Favourable Government Guidelines and Fire Safety Standards
Construction laws would now be able to offer improved insurance against the dangers of cataclysmic events and psychological oppression to make our networks stronger, reasonable and bearable for a long time into the future, which brings down the cost of alleviation for building proprietors. Model codes give direction on the best way to configuration, manufacture and work structures to accomplish these objectives.
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Restraints/Challenges Faced by the Fire Protection Coatings Market
- Availability of Cheaper Alternatives
Fire protective coatings are comparatively costlier than other fire extinguisher products as these coatings are applied or sprayed which requires human resources as well as time thus making the coatings costlier. Consumers tend to use alternative materials such as heat resistant foams and other materials to cut down the cost which will be incurred for coating the whole area.
- Volatility in the Raw Material Costs
The raw materials which is generally are chemicals are in huge demand thus making it difficult for the manufacturers to procure as well as maintain the availability of the raw materials. The preparing of fire protection materials is the complex process as the greater part of the buyer request the slight differentiation depending on the structure it is used on for ideal outcomes market in the forecast period of 2022-2029.
Recent Developments
- In March 2021, Dyneon LLC, a 3M company, announced the acquisition of the business of Hitech Polymers Inc., a manufacturer of specialty thermoplastic polymers and provider of toll thermoplastic compounding services based in Hebron. The addition of Hitech Polymers increases Dyneon’s ability to bring new solutions to existing customer’s faster
- In July 2020, The Sherwin-Williams Company has introduced a revolutionary practical onshore passive fire safety coating. Firetex M90/03 complies with UL 1709 fire protection certification specifications. The launch of a new product has opened new business opportunities for the company.
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