The fireproofing materials market size is estimated to be USD 0.9 billion in 2021 and is expected to reach USD 1.5billion by 2026, at a CAGR of 9.8% during the forecast period. Factors such as increasing fire safety regulations and increasing numbers of fire incidents will drive the fireproofing materials market. The major restraint for the market will be price sensitivity in the emerging regions and slow down in the construction industry during COVID-19. However, growing demand for developed intumescent fireproof and water-based coatings in construction will act as an opportunity for the market.
The key market players profiled in the report include 3M (US), Akzo Nobel N.V. (Netherlands), Isolatek International (US), Sika AG (Switzerland), Etex Group (Belgium), PPG Industries, Inc (US), BASF SE (Germany), Carboline (US), RPM International Inc. (US), Jotun Group (Norway), Iris Coatings S.r.l (Italy), Knauf Insulation (US), Hempel Group (Denmark), W.R. Grace & Co.(US), Rolf Kuhn GmbH (Germany), Rockwool International AS (Denmark), No-Burn Inc. (US), The Sherwin-Williams Company (US), Contego International Inc. (US), Den Braven (Netherlands), Encon Insulation Ltd (UK), Ugam Chemicals (India), Intumescent Systems Ltd (UK), PK Companies (US), FlameOFF Coatings Inc.(US).
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Players in the fireproofing materials market are mainly concentrating on new product launches, mergers & acquisitions to meet the growing demand for fireproofing materials for various applications.
The growth of the fireproofing materials market has been largely influenced by new product launches and expansion that were undertaken between 2019 and 2020. RPM International Inc. and Sika AG has adopted organic and inorganic growth to enhance their market position.
RPM International Inc. and Sika AG are two major players in fireproofing materials market. In order to strengthen its position, the companies are focusing on new product launches and acquisition.
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RPM International Inc. is a multinational company with subsidiaries, which are world leaders in specialty coatings, building materials, and related services. The company has three segments: industrial, consumer, and specialty. The company has a diverse portfolio with numerous brand names, which are leaders in the market they serve. The company serves government, education, healthcare, commercial, construction, residential, institutional, condominium, industrial, military, and manufacturing clients. The company offers fireproofing materials under the brand names Nullifire and Tremco. These products are widely used in industrial and commercial construction. The company has a good brand influence because of the application of these products in various industries. It has a presence in North America, Europe, South America, Asia Pacific, and the Middle East. In January 2021, Firetherm, a smart passive fire protection company, moved under the brand Nullifire and started delivering across the UK under the same brand name.
Sika AG is a leading specialty chemicals company. The company has two business segments: the construction industry and industrial manufacturing. The company offers solutions and products in bonding, sealing, damping, reinforcing, and protecting sectors for the building and motor vehicle industries. The company has its presence in 100 countries across Europe, the Middle East & Africa, North America, South America, and Asia. Sika AG offers fireproofing materials under the construction industry segment. In June 2020, Sika AG introduced its new production facility in China. It has expanded its capacity in the rapidly growing mortar market in China. In November 2019, Sika AG acquired Adeplast SA in Romania. The company is a leading manufacturer of mortars and thermal insulation solutions in Romania.