Firestop sealants market 2019
Prolific infrastructural advancements across the globe to bolster firestop sealants market outlook over 2019-2025
Myriad government policies regarding the integration of passive fireproofing materials in construction applications will also add impetus to industry growth. For instance, various standards set by the EU, National Building Code, National Electrical Code (NFPA-70), International Building Code (IBC), Legacy US building codes, etc., regarding the utilization of sophisticated sealants, will boost firestop sealants market growth over the forecast spell.
According to Global Market Insight, Inc. estimates, the worldwide firestop sealants market size is projected to cross $500 million over 2025.
Considering the end-use application spectrum, firestop sealants market share from the industrial segment is expected to witness growth at a rate of over 4.5% through 2025. The product is used extensively in the automotive industry given the high fire risks faced by the sector owing to high exposure to flammable sources like solvents, paints, petrol and engine oils, among others.
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Likewise, the rising preference for lightweight materials for fuel efficiency and customer security enhancement will bolster product demand. Flourishing automotive production rates across prominent locations such as U.S, Brazil, India, China and Japan, among others will present several profitable growth prospects for key industry players.
Meanwhile, the commercial end-use segment of the Germany firestop sealants industry is expected to accrue appreciable gains of over 5% through 2025, owing to the burgeoning adoption of concrete joints and metals in the chemical, pharmaceutical and production sectors, with the aim of averting any fire-related mishaps. Furthermore, advantageous characteristics including high adhesiveness and robust fire obstruction properties will propel firestop sealants market trends from the commercial segment.
With regards to product-based segmentation, the firestop sealants industry is categorized into silicone and acrylic products. Of these, the acrylic sealants segment is expected to record revenue worth over $300 million by 2025. The product demonstrates strong application potential through exceptional movement and adhesion capabilities to a vast array of substrates including metal and plastic pipes, cable trays, static and dynamic joints for wooden floor & ceiling, ducts, cables and more.
Surging demand for efficient sealing of HVAC installations through metal or concrete deck undersides and fire-rated assemblies to inhibit smokes and fire passage will strengthen the overall firestop sealants market outlook over the predicted timeframe.
The APAC firestop sealants market share is expected to observe appreciable growth with over 5.6% CAGR through 2025. The thriving construction sector in the region is one of the pivotal factors driving the rapid progression of numerous Asian nations. To illustrate, the close proximity of China to ASEAN nations has led to a massive increase in its overseas infrastructure funding, following the formation of the Asian Infrastructure Investment Bank.
Positive transformation of the overall infrastructural landscape will further accelerate the adoption of fire proofing materials for construction activities, which will in turn impel firestop sealants industry expansion over 2025.
Author Name : Saloni Walimbe