Fire Door Market revenue to exceed $13bn by 2026
Published Date: May 26, 2020 Authors: Kiran Pulidindi, Hemant Pandey
Fire Door Market size is projected to cross USD 13 billion by 2026; according to a new research report by Global Market Insights, Inc.
Enhanced building safety and security will result in an increased demand of Fire door
Increasing consumer and government focus to enhance safety & security and prevention of infrastructural and human damage during fire incidences is among key factor driving fire door market growth. Fire doors are constructed as a fire barrier with a definite fire-resistance level (FRL). Technological advancement to improve the fire-resistant properties for door frame, door leaf, vision panels, air grills and other hardware has enhanced the product scope. Efficient passageway for building occupants during incidents is among key function driving the fire door demand.
Several governments and institutional initiatives for public fire safety education will support the industry growth. For instance, NFPA has arranged fire prevention campaign every year since 1922 to enhance public awareness of fire safety and reduce damage during the incident. Furthermore, institutional building renovations, such as hospitals, hotels, colleges will support product demand. Regulatory support through favorable FDI policies and tax rebates will expand new business space construction.
Expansion in fire protection & safety solutions industry has significantly reduced the number of fire incidents. As per U.S. Fire Administration, fire injuries rates have decreased by 17.0% from 2009 to 2018. This was a result of massive size of fire protection system market, worth over USD 65 billion in 2019. Product innovations and technological development in fire rated doors, including honeycomb, steel stiffened, polystyrene and temperature rise doors will support the business growth.
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However, increasing prices of raw materials such as glass, timber and metals is among major factor affecting the fire door price trend. In addition, lockdown of several countries against prevention from COVID-19 pandemic is anticipated to have adverse impact on ongoing residential and commercial construction activities.
Browse key industry insights spread across 306 pages with 318 market data tables & 32 figures & charts from the report, “Fire Door Market Size By Material (Glass, Steel [Steel Honey Comb Door], Timber [Solid Wood Door, Particle Board Core Door, Block Board Core, Structural Composite Lumber Core], Gypsum, Aluminum, Vermiculate Boards), By Product (Hinged, Double Action, Sliding, Flush Glazed), By Application (Residential, Commercial), By End-Use (Internal, External), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Fire rated glass material to attain high growth
Fire rated glass material will hold a revenue share of over USD 2 billion in 2026 of the overall fire door market. Its ability to avert radiant heat and smoke from spreading to other parts of the building likely to propel adoption rate across residential and commercial building applications such as schools, hospitals, hotels, office meeting rooms, stairs, passages etc. Glass fire doors are customizable and available in 20, 45, 60- and 90-minutes’ fire rated applications. Key aspects such as safe and unhindered passage access for firefighters, people, and rescue workers throughout fire mishaps will escalate material demand.
High convenience will increase deployment of double action fire door
Double action fire door will occupy a decent revenue share of close to 20% in 2026 of the overall fire door market. Double action doors offer high convenience in terms of closing and opening, as the door returns to its closed position through the action of the hinges alone. They are largely utilized in commercial structures; it does not require any overhead door closer and recessed floor spring. Easy installation, unproblematic closing and opening of swing doors and self-closing are among the key features associated to double action doors.
Internal fire door will generate promising revenue growth
Internal fire door segment is will grow at a decent growth rate of over 5% during the forecast period. Growing construction of residential complexes and housing societies due to rapid urbanization will support industry demand. Rising utilization for fire doors in openings, dividing the compartments of the buildings and apartments will drive the product demand. even They are also utilized to protect the structure and contents of the building by restricting fire spread. Stringent regulations on an escape route in the commercial and residential buildings during fire incidents will propel the internal fire door market.
Asia Pacific is expected to be the leading regional market
Asia Pacific is expected to constitute over 30% market share in 2026. The region is mainly driven by rapid economic and construction growth in developing nations such as China, India, Japan, Indonesia, South Korea and Malaysia. Increasing consumer consciousness pertaining to safety measures and product properties will propel the fire door market. Shifting preference for high-end products owing to higher importance for quality rather than cost efficiency will support the regional demand. Rising construction investment due to increasing government focus on economic development is expected to drive product demand during the forecast timeframe.
High degree of competition and strategic collaborations and can be seen in fire door market
Industry players are strategically investing in mergers and acquisitions to gain an edge over other competitors. In December 2017, Hormann acquired Pilomat, an UK based construction company. The strategy was to enhance the product offering and provide ease in customers buying from a single source. Vista Panels introduced its new fire doors made using Nan Ya Slabs and offer durability this offering helped the company in expanding its portfolio and gain enhanced visibility in the industry.
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