January 14, 2020
— Market Research Future Published a Half-Cooked Research Report on Global Fire Protection Coatings Market – Global Forecast to 2023
Global Fire Protection Coatings Market is expected to exhibit a strong CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The report presents a detailed analysis of the Global Fire Protection Coatings Market by providing readers with a comprehensive overview of the market's historical trajectory. The leading drivers and restraints affecting the Global Fire Protection Coatings Market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the Global Fire Protection Coatings Market are also studied in the report and projections are made for the growth trajectory of each distinct component from 2018 to 2023. The various segments and sub-segments within the Global Fire Protection Coatings Market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the Global Fire Protection Coatings Market.
Fire protection coatings play an important role in protecting objects from the spreading of fire across surfaces. The automotive industry is likely to play a leading role in the Global Fire Protection Coatings Market over the forecast period, as cars need to be protected against the risk of accidental fire. Fire Protection Coatings are widely applied over automotive surfaces such as the bonnet and other external surfaces, the dashboard, etc. The increasing demand for consumer safety in automobiles is likely to be a major driver for the Global Fire Protection Coatings Market over the forecast period.
The building and construction industry is also likely to play a major role in the growth of the Global Fire Protection Coatings Market over the forecast period. Construction projects are at risk from fire, due to the utilization of gas cylinders and other flammable substances inside the buildings. This has driven the demand for Fire Protection Coatings from the construction industry. The construction industry has become highly conscientious about protecting the inhabitants of finished building projects, making it a major end user of Fire Protection Coatings. The increasing development of application-specific Fire Protection Coatings is also likely to be a major driver for the Global Fire Protection Coatings Market.
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Leading Players in the Global Fire Protection Coatings Market include Kansai Paint Co. Ltd., BASE Coatings, The Valspar Corporation, Axalta Coating Systems LLC, Nippon Paint Holdings Co., RPM International Inc., The Sherwin-Williams Company, AkzoNobel NV, and PPG Industries.
In November 2019, researchers at Stanford University developed a new Fire-Resistant Gel that can be sprayed onto crops and wild plants to reduce the outbreak of forest fires. The gel contains the same active ingredient as is dropped onto wildfires to break them up, and is resistant to water and wind, allowing it to remain in place through the wildfire season and protect valuable crops and forests.
The Global Fire Protection Coatings Market is segmented based on Type, Application, and Region.
By Type, the Global Fire Protection Coatings Market is segmented into active and passive fire protection coatings. Passive fire protection coatings are the dominant force in the global market and are likely to hold on to their position over the forecast period due to their higher durability.
By Application, the Global Fire Protection Coatings Market is segmented into oil and gas, building and construction, automotive, aerospace, marine, aviation, and others. The building and construction segment holds a leading 25% share in the Global Fire Protection Coatings Market and is likely to remain the dominant application segment over the forecast period due to the growing demand for safer construction.
Asia Pacific is expected to be the major regional contributor to the Global Fire Protection Coatings Market over the forecast period, followed by Europe and North America. Japan, China, and India are the leading regional markets within Asia Pacific.
Browse Key Industry Insights spread across 136 pages with 35 market data tables & 11 figures & charts from the report, "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) and Region - Growth Potential, Price Trends, Competitive Market Share & Forecast 2023" in detail along with the table of contents: https://www.marketresearchfuture.com/reports/fire-protection-coatings-market-4657
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