Europe Passive Fire Protection Market Is Expected To Reach USD 1.4 Billion By 2028

 San Francisco, 16 April 2021: The Report Europe Passive Fire Protection Market Size, Share & Trends Analysis Report By Product (Cementitious Materials, Intumescent Coatings), By End-use (Oil & Gas, Construction), By Country, And Segment Forecasts, 2021 - 2028

The Europe passive fire protection market size is expected to reach USD 1.4 billion by 2028, registering a CAGR of 3.7% over the forecast period, according to a new report by Grand View Research, Inc. Favorable fire safety regulations coupled with rising demand for fire protection in steel, oil and gas, and construction industries are likely to drive the market.

The construction of buildings is changing as new building designs usually feature open spaces with few barriers. In addition, buildings are becoming increasingly airtight and insulated with more combustibles within the building structure. These changes cause a fire in buildings that spread faster and become more hazardous, thereby driving the market.

In most European countries, the national government establishes fire regulations, which are usually in line with the regulations proposed by the European Union. With the amendments to the Regulatory Reform Order and introduction of CE marking, the construction industry in Europe has witnessed an increased demand for effective and compliant fire protection products.

The rapid spread of the COVID-19 in Europe resulted in containment measures in almost the entire region. This resulted in restrictions on construction activities, i.e., either complete or partial shutdowns. Since, the market is directly related to its penetration in construction activities, a downturn in the industry is anticipated to restrict the market growth.

Access Research Report of Europe Passive Fire Protection Market @ https://www.grandviewresearch.com/industry-analysis/europe-passive-fire-protection-market

Europe Passive Fire Protection Market Report Highlights 

  • The intumescent coatings segment accounted for 30.0% of the revenue share in 2020, owing to the rising product demand attributed to their lightweight, faster drying properties, and the ability to attain attractive finish along with their suitability for offsite applications
  • The product penetration in the oil and gas industry is estimated to witness a CAGR of 3.4% from 2021 to 2028, in terms of revenue, owing to the rising investments by oil and gas companies in E&P activities and set up of new refining capacities in the region
  • The U.K. accounted for 14.3% of the Europe revenue in 2020 owing to the rising awareness pertaining to fire safety coupled with the increasing number of policies by the U.K. government, including the HSE business plan
  • In Russia, the market is estimated to witness a CAGR of 3.5% from 2021 to 2028 on account of the government’s focus on increasing the level of fire safety in public facilities coupled with modernization efforts to upgrade existing factories across the country

List of Key Players of Europe Passive Fire Protection Market

  • 3M
  • RPM International Inc.
  • Hempel A/S
  • The Sherwin-Williams Company
  • Hilti
  • Mercor Tecresa
  • Etex Group
  • Rudolf Hensel GmbH
  • Rolf Kuhn GmbH

Access Press Release of Europe Passive Fire Protection Market @ https://www.grandviewresearch.com/press-release/europe-passive-fire-protection-market-analysis

 

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