Fire Protection Coatings Market Analysis 2018 | Global Trends and Forecast by Regions, Types, Applications and Outlook 2023
Global Fire Protection Coatings Market Information- by Type (Passive Fire Protection Coatings and Active Fire Protection Coatings), by Application (Oil & Gas, Buildings and Construction, Automotive, Aerospace, Marine, Electrical & Electronics, and Others), Forecast till 2023
Pune, India – April 25, 2018 /MarketersMedia/ —
Global Fire Protection Coatings Market – Overview
Fire Protection Coatings (FPCs) perceive exponential demand attributing to its extensive application in infrastructure/ construction sectors. Fire Protection Coatings also find applications in other growing industries such as Automotive, Aerospace, Marine, and Electrical& Electronics among others. Owing to FPCs’ augmented application in various burgeoning sectors (mentioned above), Today, Fire Protection Coatings are gaining increasing traction. The huge demand from these sectors further fosters the FPCs market growth on the global level.
Accrediting the extensive growth the Global FPC Market is perceiving today and the growth prospects the market is demonstrating currently, the Market Research Future has recently published a meticulous study report giving out the complete market insights up till 2023. According to which the global market of Fire Protection Coatings is growing rapidly and expected to gain further prominence over the forecast period. The Global Fire Protection Coatings Market is projected to garner a momentous growth registering a staggering CAGR during the forecast period.
Apart from bourgeoning construction, O&G, Automotive, Aerospace, Marine, and Electrical & Electronics; the other predominant factor that drives the Fire Protection Coatings Market growth is the awareness towards detriments occurred due to the fire.
On the other hand, the lack of awareness about the benefits offered by FPCs, is the major factor likely to restrain the Fire Protection Coatings Market growth.Fortunately, the rising government funding is expected to motivate key companies to manufacture new Fire Protection Coatings that match the changing trends and needs of the patrons.
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Global Fire Protection Coatings Market – Competitive Landscape
The competitive market of Fire Protection appears to be fragmented with the matured & small key players along with the new entrants forming a competitive landscape. Through acquisition, strategic partnership, expansion, product/technology launch &collaboration, these players try to gain competitive advantage. Heavy investments are transpired in the R&D to develop a completely different technology compared to their competition.
Industry/Innovation/Related News:
March 23, 2018 – Sherwin-Williams Protective & Marine Coatings (US) a leading global player announced acquisition of Phoenix Fire Protection Group (Dubai), a notable player in the Middle- East expanded up to Asia-Pacific. The acquisition will be helping Sherwin-Williams to expand its offering to regions of ME & APAC.
April 11, 2018 – AmTech Tank Lining & Repair (US) announced completion of its DuraChem 580® Lining Project for Kentucky Utilities Company. The project comprised of the eight steel silos, complying with federally mandated emissions standards for coal-fired power plants.
April 10, 2018 – A research Team at Michigan University published the study report for a wide range of liquid-repelling coatings they have developed after years of research. The range of materials that could reportedly resist basically any liquid including self-healing super hydrophobic materials, a superomniphobic coating and rubbery ice-shedding coatings.
Global Fire Protection Coatings Market – Segmentations
For the convenience of the report and enhanced understanding; MRFR has segmented the market into 3 key dynamics.
By Types: Comprises Passive and Active Fire Protection Coatings.
By Applications: Buildings & Construction, Oil & Gas, Automotive, Electrical & Electronics, Marine & Aerospace among others.
By Regions: North America, Europe, APAC and Rest of the World.
Fire Protection Coatings Market –Geographical Analysis
The Asia-Pacific market leads the Global Fire Protection Coatings Market with the largest market share. The market is growing due the growing demand from the construction sector, consumer goods manufacturing coupled with the expanding production capacities in the region. APAC is expected to retain its dominance during the forecast period.
While the North America Market stand the second largest market for Fire Protection Coatings, attributing to the augmenting penetration of end user industries especially, in the US. Continuing with the same growth trends the market will register the highest CAGR in the next six years.
Whereas the Europe market for Fire Protection Coatings, emerging as the fastest growing market will account for a substantial market share in the next six years. The regional market growth attributes to the extensive demand for the Fire Protection technologies.
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