Published Date: 2022-05-17
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APAC Passive Fire Proofing System Market size is poised to surpass USD 6.5 billion by 2027, according to a latest forecast report by Graphical Research. Rising installations of the fire proofing system in new & existing structures at a higher rate will fuel the market growth.
The market growth is due to mandatory government regulations on the installation of these systems in various industries such as chemical, manufacturing, oil & gas, etc. An increase in fire accidents in industries has compelled authorities & industries to focus on fire safety. In Asia Pacific, due to automation at a medium-scale, there is a considerate amount of human labor in factories, thus human life is at risk.
Another major growth driver is the rising commercial construction activities in Asia Pacific. Rapid urbanization in the developing countries of Asia Pacific is projected to increase commercial construction activities, which is further anticipated to boost the market demand.
The structural steel protection segment accounted for 25% market share in 2020. The passive fire proofing system provides high safety to the steel structure by providing them with high strength. Due to high steel utilization in construction activities in Asia Pacific, the demand for structural steel protection is likely to increase during the forecast period and support the industry growth. Additionally, the segment is expected to grow at a high rate of 5.4% during the forecast period. The segment is one of the major applications for which fire proofing systems are installed. Furthermore, consumers install these systems to protect the building structure from damage or at least to minimize the damages.
Browse detailed statistical insights from the report, “Asia Pacific Passive Fire Proofing System Market Forecast 2027 By End-user (Residential, Commercial, Institutional), By Product (Fire-resistant Wall & Floor, Fire Dampers, Fire Doors, Fire Stops, Fire-resistant Glasses, Structural Steel Production), By Application (Structural Fire Protection, Compartmentalization, Fire Stopping Materials, Opening Protection), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The residential end-user segment will acquire around 9% market in 2020, due to the growing consumer awareness of fire proofing systems in residential buildings. The increase in residential construction and awareness about fire safety is expected to complement the market growth.
India passive fire proofing system market will witness 5.5% CAGR during the forecast timeframe, on account of growing residential and commercial construction activities coupled with industrial development. Various government regulations and increasing awareness will also positively impact the market revenue.
The APAC passive fire proofing system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Application
Asia Pacific Market, By End-user
The above information has been provided for the following countries:
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