Passive Fire Protection Materials Market share by applications and regions for 2017- 2024

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Passive Fire Protection Materials Market Update,
Analysis, Forecast, 2017 2024 Global Market
Insights, Inc.
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• Global Market Scenario of Construction Industry

• Passive Fire Protection Materials Market to Cross
  USD 27 billion by 2024 according to a new
  research report by Global Market Insights, Inc.
• Strong demand for hydrocarbon based intumescent
  coatings from oil gas industry will propel
  passive fire protection materials market size
  during the forecast timespan. These materials are
  extensively preferred across various end-user
  industries including construction, oil gas,
  warehousing, manufacturing, etc. owing to its
  exceptional properties to tackle situations in
  case of fire emergency.
• For instance, intumescent coatings are highly
  preferred in oil gas sector due to high risk
  environment which is mainly due to presence of
  highly flammable compounds which will help in
  making significant gains to passive fire
  protection materials market size by 2024.
• Rapidly rising exploration activities in North
  America which is due to abundance of shale
  oil/gas reserves is probable to be a major factor
  which will help augment passive fire protection
  materials market size by 2024.

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• Unstable prices for raw materials which are
  widely used in making passive fire proofing
  materials is probable to hinder the passive fire
  protection materials market size by 2024.
  Furthermore, persistent need to enhance safety
  standards across various industries such as
  manufacturing, oil gas, warehousing,
  automotive, aerospace, etc. will drive the
  overall passive fire protection materials market
  size by 2024.

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• 360 Industry Analysis

• Passive fire protective sealants market size is
  anticipated to rise at a CAGR of over 8 by 2024.
  These materials are widely applicable for
  firestop in walls, floors, curtain wall joints,
  and in linear joints between walls and floors.
  They expand within the joints to provide fire
  vapor sealed environment and are highly preferred
  in maintaining safety standards across various
  industries such as oil gas, warehousing,
  manufacturing, construction, etc. and henceforth
  is probable to make substantial impact on passive
  fire protection materials market size by 2024.
• Based on the end-users, building construction
  segment for passive fire protection materials
  market is projected to grow with CAGR of about
  8.5 by 2024. This is attributed to strong
  persistence by regional regulatory bodies
  primarily in emerging economies to enhance safety
  standards in residential commercial buildings.
  

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• Regional Analysis

• North America passive fire protection materials
  market size is likely to grow at a CAGR with 8
  by 2024. This is primarily due to rising product
  end-users across various end-user industries
  including construction, transportation, oil
  gas, manufacturing, warehousing, etc. which will
  propel the business size by 2024. Intumescent
  coatings are widely used in oil gas industry
  mainly in the U.S. during exploration activities
  to reduce damage in the high-risk environment.
  Additionally, increasing RD investment for the
  development of advanced coatings used in
  fireproofing is mainly attributed to stringent
  legislations formulated by regional regulatory
  bodies which propels the passive fire protection
  materials market size in the region.

• Competitive Analysis

• Major passive fire protection materials market
  share contributors are Sharpfibre, Kansai Paint,
  Lloyd Insulations, 3M, Rudolf Hensel, Nullifire,
  Teknos, Akzo Nobel, Promat International, PPG
  Industries, Sherwin-Williams and Hempel. Most of
  the companies are making significant investment
  in their RD facilities to develop advanced
  materials and attain competitive advantage in the
  market.

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