According to a new research report by Global Market Insights Inc., the firestop sealants market value is set to surpass USD 500 million by 2025.
Strong demand for barrier sealants in residential and commercial buildings for sealing openings and joints in a floor assembly or a fire-resistance rated wall will drive firestop sealants market. Increasing necessity for advanced building materials to inhibit spread of fire and provide critical escape time after its progression is likely to surge fire barrier sealant demand. Stringent government regulations pertaining to worker safety will create new growth avenues for industry participants over the projected timeframe.
Government initiatives including new healthcare schemes and education for all has generated demand for new public infrastructure including schools and hospitals. Increasing adoption rate in concrete flooring due to its key property of removing air pores and vapors from concrete blocks and blocking unwanted open spaces will escalate product demand. Fire barrier sealants expand with heat and close combustible penetrants, henceforth widely utilized for residential construction. This multi-function nature of these sealants serves the building through energy efficiency and avoids fire from floor to floor at the building edge, or from floor to floor on the outside.
Ongoing technological advancements and investments for new product development will fuel firestop sealants market growth over the projected timeframe. Availability of innovative products which have less setting time in moisture and provide protection against gasses, smoke and water will foster product demand across marine applications. Increasing new product development with low VOC and high water along with shrinkage resistance by key manufacturers will also boost the overall market growth.
Browse key industry insights spread across 380 pages with 714 market data tables & 20 figures & charts from the report, “Firestop Sealants Market Size By Product (Silicone, Acrylic), By Application (Pipe and Cable Penetrations, Curtain walls, Facades/Partition Walls, Concrete floor), By End Use (Residential, Commercial & Institutional and Industrial) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Spain, China, Japan, India, South Korea, Thailand, Malaysia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Firestop sealants market share from industrial sector may observe gains at over 4.5% by 2025. Automotive vehicles are prone to diverse fire risk levels due to constant exposure to flammable materials including petrol, solvents, paints and engine oils. Shifting trend for lightweight materials to enhance fuel efficiency and consumer safety is fueling product application scope. Growing automobile production in China, Japan, India, Brazil and U.S. will create lucrative growth opportunities for industry participants.
Acrylic sealants segment is predicted to exceed $300 million by 2025. Positive application scope across high temperature environments owing to enhanced resistance to degradation is fueling the segment growth. This product provides excellent movement and adhesion to wide range of substrates such as cables, metal pipe, plastic pipe, cable trays, ducts, static and dynamic joints in wood floor and ceiling, fire-rated concrete, and gypsum wall assemblies. Rising demand to seal HVAC penetrations through fire-rated assemblies and underside of a metal or concrete deck to impede passage of fire and smoke is likely to foster product demand in projected timeframe.
Commercial end-use segment in Germany is likely to witness strong gains of 5% by 2025. Increasing adoption in metal and concrete joints to avoid any fire related accidents in chemicals, pharmaceutical and manufacturing industries will stimulate product demand. Factors such as high adhesive power and extremely high fire barrier property are anticipated to drive product sales across industrial structures.
Global firestop sealants market share is competitive and marginally fragmented with key industry players including Bostik (Arkema), 3M, H.B. Fuller, HILTI Corp., Sika AG, Tremco Corp. being some of the prominent companies in this sector. Increasing demand has encouraged manufacturers to invest in R&D initiatives to develop novel products. Companies are spending on developing new technologies along with improving existing products which may fuel the market size.