Passive Fire Protection Materials Market to Develop Rapidly | 2023
Transparency
Market Research (TMR) has published a new report studying the Saudi
Arabia passive fire protection materials market . This is a
comprehensive report that presents insights into the key growth
drivers, potential restraints, threats, and opportunities shaping the
growth trajectory of the passive fire protection materials market
across Saudi Arabia between 2015 and 2023. The report is titled
“Passive Fire Protection Materials Market - Saudi Arabia Industry
Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023” and
is available for sale on the company website.
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Report Overview @
As
per the findings compiled in this 66-page report, the Saudi Arabia
market for passive fire protection materials had a valuation of
US$89.7 mn in 2014. Exhibiting a modest yet a positive CAGR of 4.40%,
the market will reach US$131 mn by 2023. Passive fire protection
materials provide safety against fire or spread of smoke. These
materials have attained commercial prospects since they are essential
in mapping a route to escape during such unforeseen occurrences.
These materials are used in accordance with fire codes and building
codes that local governing bodies mandate.
The
economy of Saudi Arabia has risen incredibly in the last couple of
years. Among the economic sectors leveraging the booming economic
prospects in the region, the construction industry is exhibiting
exponential growth. Rapidly increasing construction activities have
augmented the demand for passive fire protection materials in the
region. Furthermore, the increasing number of rig counts in the
Middle East is also touted as a significant factor fuelling the
demand from the passive fire protection materials market in Saudi
Arabia. A lead analyst from TMR says, “While the market witnesses
impressive growth prospects in the region, rigorous government
regulations and emission control norms on volatile carbon compounds
emission may hamper the overall demand for passive fire protection
materials across the region.”
For
the purpose of the study, the report segments the passive fire
protection materials market in Saudi Arabia based on parameters
including product type and application. Based on product types, the
foams and boards segment led the passive fire protection materials
market in 2014, accounting for a whopping 90% share. Foams and boards
are primarily used in building interiors, apart from which they also
provide protection to steel structures. These passive fire protection
materials are relatively economical and also add aesthetic value to
the overall structure. Intumescent coatings, according to the report,
will register the fastest growth among the several product segments
during the forecast period. This type of material is primarily used
to fireproof steel structures. Other passive fire protection
materials, which will exhibit steady growth, include fire blocks,
mortar plugs, and cementitious sprays.
The
report states that structural steel fireproofing is the largest
application segment of the regional passive fire protection materials
market. The segment, as per the report, occupies over 25% of the
market. Structural steel protection is integral to fire protection in
buildings. The civil application of passive fire protection materials
in Saudi Arabia, therefore, is poised to grow exponentially over the
report’s forecast period. The cable and wire tray fireproofing
segment also held a substantial market share in 2014. Other
application segments of the market include glasses, windows, and
doors.
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to view Sample Report:
The
market for passive fire protection materials in Saudi Arabia is
moderately fragmented and characterized by the presence of a large
number of vendors. Some of the leading players profiled in the report
are Jotun, Carboline Company, Fire Protection Ltd., Electropar
Performed Line Products, Promat International, the Fireseal Group,
Hilti Group, NAFFCO, and 3M Company.
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