Passive Fire Protection Status and Trend Report by 2025

The global PassiveFire Protection Market size is expected to reach USD 5.17 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.1% over the forecast period. Increasing exploration activities in the global oil & gas industry is likely to boost the market growth. Prevalence of high-risk environment owing to the presence of explosive and highly flammable compound in oil & gas production makes the use of a passive fire protection system extremely important, thereby augmenting the product demand.

In addition, rising shale gas exploration activities in U.S. is expected to drive the demand over the forecast period. Rising consumer awareness regarding safety has led to the increased investments in the installation of protection systems in commercial as well as residential buildings.

Furthermore, growing incidents of fire accidents have led the governments across the globe to emphasize on improving the safety aspects of the existing and upcoming infrastructures, thereby driving the passive fire protectionmarket growth. Rapidly expanding global construction sector coupled with increasing urbanization in emerging economies is expected to propel market growth further.

Access Sample Copy @ https://www.grandviewresearch.com/industry-analysis/passive-fire-protection-market/request/rs1

Further key findings from the study suggest:

• Cementitious materials accounted for a market share of 42.3% in 2018 and is projected to be the largest segment on account of the condensation control property of these materials
• Product demand in the construction industry was valued at USD 1.35 billion in 2018 owing to increased construction activities along with the need for energy-efficient and safer infrastructures
• Asia Pacific was the largest regional market and is estimated to maintain its dominance in future due to high product demand from construction, industrial, and warehousing sectors of China and India
• The market in U.S. is expected to witness a significant growth over the forecast period on account of stringent government regulations regarding fire safety
• Integration across the value chain, development of new manufacturing technologies, and introduction of innovative products are the key success factors for the manufacturers of protection products

Grand View Research has segmented the global passive fire protection market on the basis of product, application, and region:

Passive Fire Protection Product Outlook (Revenue, USD Million, 2014 - 2025)

• Cementitious Material
• Intumescent Coating
• Fireproofing Cladding
• Others

Passive Fire Protection Application Outlook (Revenue, USD Million, 2014 - 2025)

• Oil & Gas
• Construction
• Industrial
• Warehousing
• Others

About Grand View Research:

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

Contact:

Grand View Research, Inc.

201 Spear Street 1100,

San Francisco, CA 94105

United States

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com