X
    Categories: Chemicals and materials

Firestop Sealants Market – Industry Growth, Market Trends and Forecast to 2025

Frequent developments across residential and construction segment aided by public and private collaborations will bolster firestop sealants market share in the coming years. Favorable government efforts like housing for all and reduced bank rates had led to an expansion in residential construction worldwide. Governments are constantly working towards improving public infrastructure while entities are heavily investing in commercial and residential construction.

Fire barrier sealants are durable, leading to their extensive use in various applications like porous and nonporous substrates, sealing sanitary components, electrical conduits, and ceiling wiring. The global firestop sealants market size could expand considerably through 2025 across developed and emerging economies. Expounded below are some of the factors likely to impact the industry share in the near future.

Request for Sample Report: https://www.gminsights.com/request-sample/detail/4338

Favorable government initiatives

Extensive use of passive fireproofing materials such as tapes, sealants, and fillers in pipes, wires, and cables will propel the efforts to strengthen structures. Strict rules established by the governments mandating the use of passive fire protection materials in construction activities are projected to steer the demand for firestop sealants.

Guidelines set by internationally recognized institutions like the National Electric Code, International Building Code, Legacy US Building codes, and the EU, related to the use of upgraded sealants will continue to support the market development.

Asia witnesses increased sealant demand

With respect to the geographical terrain, Asia pacific firestop sealants market has witnessed robust gains due to the growth in the construction industry over time. The geographical proximity of China with ASEAN countries led to its overseas infrastructure financing expansion owing to the introduction of Asian Infrastructure Investment Bank.

The product is mainly used for cabling and wiring since they help in preventing the passage of fire through joints. These sealants carry the ability to remain in place even in case of fire and also resist the spread of the flame for a certain period of time, which comes useful in certain APAC regions. APAC firestop sealants industry share is anticipated to register around 5.6% CAGR up to 2025.

Firestop sealants with pipes and cables

Firestop sealants find integral use in pipes and cables and accounted for more than USD 190 million in total annual remuneration during the year 2018. Modern building frameworks are scattered with various utility as well as network services that include fittings, pipes, and ventilation ducts in both vertical as well as horizontal directions.

This leads to countless penetration through various floors and walls. To avoid any weakness in these places that will allow fire to spread, firestop sealants can play a vital role to tackle any unforeseen damages.

Extensive demand for silicone firestop sealants

Silicone firestop sealants have gained considerable demand over the years and accounted for more than 40% of the total market share during the year 2018. Low modulus elasticity along with silicone sealants’ elastomeric property reduces the strain from the substrate surface and also allows the recovery from the expansion of single and multiple metallic pipes, tubes, and conduits.

Water-barrier characteristics drive sealants penetration in sanitary joints in modern as well as refurbished constructions. Wide usage of sealants in cables and wires, fire-rated joints sealing, and electric sockets have driven developments in the segment over the years.

Firestop sealant providers are constantly working towards increasing their presence in the market by introducing new products to suit the changing construction needs as well as increase their customer base. In the year 2017, Liechtenstein-based Hilti Corp. announced the acquisition of Norwegian- Oglaend Systems Group. This transaction aims at strengthening the position of the company and increasing its geographical footprint.

Other leading market players include Bostik (Arkema), H.B. Fuller, Sika AG, 3M, and Tremco, among numerous others.

Increasing incidences of fire that lead to severe damage to life and property have amplified the need for a safe and reliable fire protectant. The bushfire in Australia that started in June 2019 disrupted the lives of many. Nearly 2000 houses across the continent were destroyed as of January 2020, killing 25 people and millions of animals.

Request for Customization: https://www.gminsights.com/roc/4338

From the aforementioned example, it is evident that there is an extremely important need to protect residential, commercial, and industrial infrastructures from facing any type of loss or damage that can be avoided, subsequently supporting the need for firestop sealants.

Read More:

Acoustic Diaphragm Market is likely to exceed $24.1 billion by 2026

The Metal Alloys Market slated to attain USD 466 billion by 2030

North America Laminating Adhesives Market is slated to reach $640 million by 2026

The Molded Pulp Packaging Market would exceed USD 4.8 billion by 2028

The Plastic Compounding Market slated to surpass $63.2 billion by 2028

Ravi Chavat: Read More...