According to a report, “Europe Passive Fire Protection Market Size, Share & Trends Analysis Report By Product (Cementitious Materials, Intumescent Coatings), By End-use (Oil & Gas, Construction, Industrial), And Segment Forecast, 2020 – 2027”, published by Grand View Research, Inc.,The Europe passive fire protection market size is expected to reach USD 1.3 billion by 2027 registering a CAGR of 3.4%, according to a new report by Grand View Research, Inc. Favorable government regulations about structural fire safety and increasing awareness regarding the same are expected to drive market growth. Growing demand for fire-safe buildings has led to increased investments in terms of installation of passive fire protection systems in the construction sector, which will also boost the market growth.
Growing demand for high-quality passive fire protection products with improved efficiency and reliability along with the popularity of technologies used in their production is pushing manufacturers to continuously engage in innovation. This is driving them to take the necessary steps to maintain and enhance the standards of their products.
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Europe Passive Fire Protection Market Report Highlights
- The cementitious material segment accounted for the largest revenue share of over 41% of the global market owing to the wide usage of steel structures in infrastructure development projects
- Construction is expected to be the largest as well as fastest-growing end-use segment over the forecast period owing to the rise in building & construction activities post relaxation of containment measures taken due to the Covid-19 pandemic
- The industrial end-use segment accounted for the second-largest market share of over 22% in 2019 owing to the rising emphasis on the improvement of fire safety standards across the regional industries
- Germany accounted for the largest market share in 2019 owing to high demand for passive fire safety products from the industrial, automotive, and construction sectors
- The market is highly competitive and is characterized by the presence of both global and regional players
The construction segment led the regional market in 2019 accounting for a revenue share of over 29%. The segment is expected to grow further at the fastest CAGR from 2020 to 2027. Increasing awareness regarding fire safety requirements in old structures and rising number of refurbishment projects are anticipated to drive the segment growth. Furthermore, rising demand for broader energy-efficient and fire-safe infrastructure in the region is expected to drive the product demand in this segment. Rising emphasis on the improvement of fire safety standards across all the end-use industries in the region is expected to boost the market growth further.
Extensive usage of steel in structure fabrication and rising concerns regarding the prevention of inventory loss are expected to drive product demand in the warehousing segment. Growing merger & acquisition activities by major companies to increase their market share and expand service portfolios are likely to drive the warehouse services segment.
Oil & gas is estimated to be the second-largest end-use segment over the forecast period. Rising demand for intumescent coatings in the oil & gas industry owing to the increasing investments in exploration & production activities is expected to propel segment growth. Moreover, the rising number of capacity expansion projects and setting up of new refining capacities in the region are expected to drive the segment.
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Europe Passive Fire Protection Market Segmentation
Grand View Research has segmented the Europe passive fire protection market on the basis of product, end-use, and country:
Europe Passive Fire Protection Product Outlook (Revenue, USD Million, 2016 – 2027)
- Cementitious Materials
- Intumescent Coatings
- Fireproofing Cladding
Europe Passive Fire Protection End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Oil & Gas
Europe Passive Fire Protection Country Outlook (Revenue, USD Million, 2016 – 2027)
- The U.K.
- Czech Republic
List of Key Players of Europe Passive Fire Protection Market
- RPM International Inc.
- Hempel A/S
- The Sherwin-Williams Company
- Rudolf Hensel GmbH
- Etex Group
- Daussan Group
- Mercor Tecresa
- Rolf Kuhn GmbH
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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