Market Research Report
Passive Fire Protection Market Size, Share & Trends Analysis Report By Application (Construction, Oil & Gas, Industrial, Warehousing), By Product (Intumescent Coating, Cementitious Material), And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||358119|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Passive Fire Protection Market Size, Share & Trends Analysis Report By Application (Construction, Oil & Gas, Industrial, Warehousing), By Product (Intumescent Coating, Cementitious Material), And Segment Forecasts, 2019 - 2025|
|Published: March 19, 2019||Content info: 110 Pages||
The global passive fire protection market size is expected to reach USD 5.17 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.1% over the forecast period. Increasing exploration activities in the global oil & gas industry is likely to boost the market growth. Prevalence of high-risk environment owing to the presence of explosive and highly flammable compound in oil & gas production makes the use of a passive fire protection system extremely important, thereby augmenting the product demand.
In addition, rising shale gas exploration activities in U.S. is expected to drive the demand over the forecast period. Rising consumer awareness regarding safety has led to the increased investments in the installation of protection systems in commercial as well as residential buildings. Furthermore, growing incidents of fire accidents have led the governments across the globe to emphasize on improving the safety aspects of the existing and upcoming infrastructures, thereby driving the passive fire protectionmarket growth. Rapidly expanding global construction sector coupled with increasing urbanization in emerging economies is expected to propel market growth further.