Fire Stopping Materials Market Industry Analysis, Key Trends, Growth and Forecast Report by 2026

The fire stopping materials market size is estimated to be USD 1.4 billion in 2021 and is expected to reach USD 2.4 billion by 2026, at a CAGR of 11.6% during the forecast period. The market report gives a purposeful depiction of the area by the practice for research, amalgamation, market size, share, demand, fire stopping materials market growth overview, and review of data taken from various sources. Factors such as increasing fire safety regulations and increasing numbers of fire incidents will drive the fire stopping 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, development in innovative fire stopping materials will act as an opportunity for the market.

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Electrical is the largest application segment of the fire stopping materials market. North America was the largest market for fire stopping materials in 2020, in terms of value. Factors such as increasing fire safety regulations and increase in fire incidents will drive the fire stopping materials market.

The key market players profiled in the report include Hilti Corporation (Liechtenstein), 3M (US), Etex Group (Belgium), Knauf Insulation (US), Specified Technologies Inc (US), Sika  AG(Switzerland), RectorSeal Corporation (US), BASF SE(Germany), RPM International Inc.(US), Morgan Advanced Materials (UK), Rolf Kuhn GmbH (Germany), Tenmat Ltd. (UK), Encon Insulation Ltd. (UK), Fischerwerke GmbH & Co. KG (Germany), Saint-Gobain Group (France), Rockwool International AS (UK), Supremex Equipments (India), Walraven (The Netherlands), Everkem Diversified Products (US), Abesco Fire Ltd. (UK), Lloyd Insulations (India), Den Braven (The Netherlands), HoldRite (US), Unique fire stop products Inc. (US), and Fire Seals Direct (UK).

Players in the fire stopping materials market are mainly concentrating on new product launches, mergers & acquisitions to meet the growing demand for fire stopping materials for various applications.

The growth of the fire stopping materials market has been largely influenced by new product launches and expansion that were undertaken between 2019 and 2020. Specified Technologies Inc. and Etex Group has adopted organic and inorganic growth to enhance their market position.

Specified Technologies Inc. and Etex Group are two major players in fire stopping materials market. In order to strengthen its position, the companies are focusing on new product launches and acquisition.

Specified Technologies Inc.(STI), is one of the major manufacturers of fire stopping materials and systems. The company has its presence in North America, Europe, the Middle East, and Asia. Apart from construction, the company also deals in the healthcare and marine industries. STI focuses on fire stopping products intended for use as sealing materials for through-penetrations, data pathways, and static and dynamic construction joints, including perimeter containment (curtainwall). In January 2020, Specified Technologies Inc launched 2 new fuel pipe protection E-Wrap systems: FP-3 and FP-4. These systems are available for protection of fuel oil pipes. In October 2019, Specified Technologies Inc. introduced new E-Wrap Endothermic Wrap STI’s latest solution for Circuit Integrity and Survivability of critical infrastructure in the event of Fire.

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Etex Group is one of the top players in the fire stopping materials market. The company manufactures fire stopping materials under the Building Performance business segment. Etex owns various companies and provides fire stopping materials under its subsidiary, Promat. The company owns 119 production sites, employs about 13,000 personnel, and has a presence in around 45 countries worldwide. Etex offers various fire stopping products, including boards, panels, sheets, and wraps, under the brands Promaseal and CAFCO.  In April 2019, Promat launched PROMASEAL CIL and CIH, a new generation of Cast-in Fire Collars. This was launched by Promat Australia.

Putty and Putty Pads is estimated to be the fastest-growing type in the  fire stopping materials market for the forecast period

 Putty is a material with high plasticity, similar in texture to clay or dough, typically used to seal gaps during construction. Firestop putty are mainly used for electrical outlet boxes, sealing pipe and cable insulation, construction joints, solid ceilings, and lightweight partitions to increase their fire-resistance.

It provides full protection against the spreading of smoke and fire during a fire accident. It also provides excellent adhesion to construction substrates and penetrants including gypsum, metal and plastic. These properties are expected to drive the demand of putty and putty pads during the forecast period.

 Mechanical  was the second  largest application for fire stopping materials  market in 2020

The fire stopping materials market size for mechanical applications accounted for the second largest share of global fire stopping materials, in terms of value, in 2020 this was led by the demand from the construction industry.

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There is a rise in the development of performance-oriented buildings has increased the demand for fire stopping materials in this application. Contractors and builders are now focusing on heating, ventilation, air-conditioning and energy-efficient system designs. This has derived the demand for installation of fire stopping materials, in order to build a well-versed structure with all aspects.

North America  is estimated to be the largest region in fire stopping materials  market in 2020.

The North American market accounted for the largest share globally. It is experiencing high growth on account of the increased demand for these materials in new and existing buildings. Major factors that is influencing the growth of this market is the growing construction industry, especially the rise of skyscrapers in the emerging economies. The market growth in this region is majorly driven by stricter building codes and policies.