The global fire resistant mortar market was valued US$ XX.5 Bn and is expected to reach XX.76 Bn by 2027, at a CAGR of X.5% during a forecast period.
Global Fire Resistant Mortar Market
Fire resistant mortar are defined as those materials engineered precisely to stop or reduce the passage of excessive of heated hot gas, and other harmful smokes. These mortars are used for protection against fire in various industries as well as commercial sector. As this fire resistance mortar is available in the form of paste hence get dried after application in short duration that helps to assist the transfer of fire or heat in order to prevent unintentional accident at work place or residential sector.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Market Drivers and Restraints:
Prominent factor to drive the market growth is the result of escalation in the fire related accident in various sectors including industrial sector such as chemical, oil and gas, automotive and residential sector including cities, colonies. Hence, growth in the construction projects related to the new construction and renovation is contributing to the market development across the globe. In industrial sector protection from penetration of fire is a major concern which is leading the market demand. Furthermore, the participant involved in the construction activity are preferring mortal fire resistance over coating spray, putty, sealant and others coupled with the huge awareness and trend is most likely to replace above mentioned traditional methods of fire resistance during the forecasted period. The coating and filers market is also observing a significant growth in the commercial and residential subdivision which is helping the market grow globally. Increase in the consumption of steel globally and rise of retail industry will also contribute to the growth of the market.
On the contrary, presence of substitutes and fluctuation in the raw materials cost will remain the market hindering factor for the global fire resistant mortar market.
Fire Resistant Mortar Market Segment analysis:
By the application segment, growth in construction industries is expected to lift the overall demand for the coating segment. High demand from the industrial and residential sector in construction workplace for the fire resistant mortars coating and utilized in two-layer coating which act as barrier for the entry of fire and hot gases leading the coating demand since long and expected to observe significant growth in the coming years. Properties which is attracting the vendors to invest and the various end-users to use for these targeted coating include fire resistance, and zero response against fire catching materials which are fuelling its demand among above-mentioned applications. Furthermore, availability in type such as silicon, polyurethane and other polymers based coating as per suitability is another factor propelling the market growth in the construction sector.
Characteristics such as ease of application and long self-life of fire protection coating are making it as the key segment to use in general industry as it provides protection against wear and tear, and also enhances its effectiveness of the raw material which is driving the segment demand and making it popular in several growing industries across the globe.
Fire Resistant Mortar Market Regional Analysis:
Geopolitically, amongst numerous developing economies APAC is expected to dominate the fire resistant mortar market and is expected to grow at a CAGR of X.4 % during the forecast period. Developing regions like India, China and Japan are considered as the major contributors for the fire resistant mortar market growth in the Asia Pacific region owing to the significant growth in the construction projects. Factors such as rapid industrialization, and urbanization specifically in India and China are expected to boost the demand for fire resistant mortar in the region. The implementation of newer technologies, growth in number of accidents, and increasing disposable income are the major factors that are expected to lift the fire resistant mortar market in the near future.
The objective of the report is to present a comprehensive analysis of the Global Fire Resistant Mortar Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Fire Resistant Mortar Market dynamics, structure by analysing the market segments and project the Global Fire Resistant Mortar Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Fire Resistant Mortar Market make the report investor’s guide.
Scope of Fire Resistant Mortar Market
Global Fire Resistant Mortar market, By Type
• Preformed Devices
• Cast-in Devices
• Sealants & Fillers
Global Fire Resistant Mortar market, By Application
Global Fire Resistant Mortar Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Fire Resistant Mortar Market,
• Specified Technologies Inc
• AkzoNobel N.V.
• Morgan Advanced Materials
• Rolf Kuhn GmbH
• Sika AG
• BASF SE
• Hilti Group
• WR base
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