The global fire stopping material market size was valued at $1,352.8 million in 2020, and is projected to reach $2,002.4 million by 2030, registering a CAGR of 4.1% from 2021 to 2030. Fire stopping material seals any openings to keep fire, smoke, and heat out of various aspects. They're commonly seen in warehouses, office buildings, and industrial and commercial structures. Fire-retardant and intumescent materials, as well as motors, silicone, mineral fibers, and rubber compounds, are used to make fire-stopping materials. They're primarily employed in the electrical, plumbing, mechanical, and building and construction industries. A properly designed and tested fire stop system will prevent fire from spreading, provide an effective smoke barrier, and delay heat transmission for a set amount of time.
Increase in demand for fire stopping materials in wide range of sectors such as construction, oil & gas, transportation, and general sectors such as power generation, chemical, mining, and so on, will propel the fire stopping materials market growth. Also, because of growing global population, the construction industry has seen a tremendous increase in recent years, particularly in residential and commercial infrastructure projects. Such factors will fuel the fire stopping materials market opportunities during the forecast period.
Furthermore, fire stopping materials have ability to restrict the spread of heat and smoke, delaying the damage and improving the fire escape duration. During the forecast period, product demand will progressively increase as governments impose safety regulations and countries around the world create cutting-edge infrastructure. For instance, the National Building Code of India (NBC) has established a number of criteria, such as fire zones, types of fire resistance for structural and non-structural components, and other requirements.
By Type
Sealants segment is projected to grow at a highest CAGR
Furthermore, many government investments are focusing on infrastructure development, which will open up markets for fire stopping materials. For example, in 2019, the Russian government unveiled a six-year modernization plan for infrastructure development, investing $96 billion in airports, residential & commercial, railways, and other infrastructure. During the projected period, such investments are expected to have a beneficial impact on the market.
The novel coronavirus has rapidly spread across various countries and regions, causing enormous impact on lives of people and overall community. Originating as a crisis to human health, it now poses significant threat to worldwide trade, economy, and finance. Due to the continuous lockdown in key global countries, the COVID-19 pandemic has halted production of many items in the fire stopping materials business. Key players in fire stopping materials market can afford a complete lockdown only for a limited period, after which they would have to alter their investment plans. Furthermore, number of COVID-19 cases are expected to reduce in the near term as vaccine for COVID-19 has been introduced in the market. This is further expected to lead to re-initiation of fire stopping materials companies at their full-scale capacities, which would aid the fire stopping materials market to recover by the start of 2022. After COVID-19 infection instances start to decline, equipment and machinery producers must focus on protecting their staff, operations, and supply networks in order to respond to urgent emergencies and establish new methods of working.
By Application
Electrical segment holds dominant position in 2020
The global fire stopping materials market is segmented on the basis of type, application, end-user, and region. On the basis of types, the market is segmented into sealants, mortar, boards, and others. Application segmentation includes electrical, mechanical, and plumbing. By end-user, the market is segmented into residential, commercial, and industrial. Region wise, the fire stopping materials is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
Some of the key players operating in the global fire stopping materials market include 3M Company, BASF SE, Etex Group, Hilti Group, Knauf Insulation, Morgan Advanced Materials, RectorSeal Corporation, RPM International, Inc., Sika AG, and Specified Technologies, Inc.
By Region
North America holds a dominant position in 2020 and Asia-Pacific is expected to grow at a significant rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging fire stopping materials market trends and dynamics.
- In-depth fire stopping materials market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.
- Extensive analysis of the fire stopping materials market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global fire stopping materials market forecast analysis from 2020 to 2030 is included in the report.
- The key players operating in the fire stopping materials are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the fire stopping materials industry.
Fire Stopping Materials Market Report Highlights
| Aspects | Details |
 By Type |
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 By APPLICATION |
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 By END-USER |
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 By Region |
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 Key Market Players | BASF SE, SPECIFIED TECHNOLOGIES, INC., KNAUF INSULATION, ETEX GROUP, 3M Company, RPM INTERNATIONAL, INC., SIKA AG, HILTI GROUP, RECTORSEAL CORPORATION, MORGAN ADVANCED MATERIALS |
Analyst Review
The fire stopping materials market is expected to witness growth due to increase government investments in developing infrastructures and government focus on implementing safety building codes globally. Also, the market will propel due to rise in construction of residential and commercial buildings. For instance, in April 2021, the U.S. government has invested $300 billion for residential and commercial projects, schools and federal buildings across the country.
Also, the fire protection materials market is expected to be driven by rising demand for passive fire protection systems, propelled by severe building rules and fire safety policies. In addition, numerous fire hazard incidences and increase in public awareness about fire safety are expected to fuel the market throughout the estimated period.
The Fire stopping materials market size was valued at $1,352.8 million in 2020.
Based on type, the sealants segment holds the maximum market share of the fire stopping materials market in 2020.
The fire stopping materials market is projected to reach $2,002.4 million by 2030.
Increase in demand for passive fire protection systems and rise in residential and commercial sectors are the key trends in the fire stopping materials market.
The product launch is key growth strategy of fire stopping materials industry players.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
Fluctuation in raw material prices is the effecting factor for fire stopping materials market.
The applications of fire stopping materials include in residential, commercial, and industrial.
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