The key restraining factor, such as high cost, complex installation process of firestop sealants and fire proofing solutions may hinder the global firestop sealants market growth over the forecast period.
Rockville, MD -- (SBWIRE) -- 07/02/2019 -- Firestop sealants are specific type of sealants, which helps avert the spread of fire. Firestop sealants prevents the fire from dispersal by sealing openings to fire-rated interiors of a building construction, floors, ceilings or wall assemblies. Firestop sealants possess fire resistant properties with exceptional longevity, as well as immensely reduces, the formulation of smoke and other harmful toxins in the premises. Firestop sealants could also enact as an acoustic barrier by reducing the propagation of noise. Firestop sealants are paintable, and can also be easily cleaned with water
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The key driving factor for the global Firestop Sealants Market is persistently evolving residential, commercial and industrial sector, which have resulted in an increased demand for firestop sealants across all major developing economies. The macroeconomic factors, such as booming industrial activities coupled with up gradation in fire protection, increase in safety guidelines and regulations for industries in many countries is further augmenting the sales for firestop sealants. The significant increase in demand for firestop sealants due to the growing safety concerns regarding safe industrial operations is highly anticipated to drive the global firestop sealants market. Moreover, considerable growth in the East Asia, South Asia & Middle East commercial & residential sector and technological advancement in the production of firestop sealants is anticipated to create a significant opportunity for the global firestop sealants market. Additionally, the superior performance characteristics of firestop sealants, such as allowing maximum fire resistance, highly adhesive, easy cleaning, less clogging and low maintenance is highly anticipated to propel the demand for firestop sealants across various end-use sector. The key restraining factor, such as high cost, complex installation process of firestop sealants and fire proofing solutions may hinder the global firestop sealants market growth over the forecast period.
Elastomeric type firestop sealants are anticipated to showcase remarkable growth rate during the forecast period due to its non-halogenated latex-based formulation and fast setting up characteristics. On the other hand, among container type segment, cartridge segment is anticipated to see substantial market growth over the forecast period, which is attributed to ease its usage. Among the application, industrial application held for the largest share in 2018 and is anticipated to maintain its dominance over the forecast period.
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The global firestop sealants market is segmented into seven regions: North America, Europe, MEA, East Asia (Japan, China, and South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, and Rest of South Asia), Oceania (Australia, New Zealand) and Latin America. Among the above-mentioned countries, East Asia is estimated to account for a significant market share due to prevailing industrial boom in countries, such as China, Japan and South Korea. South Asia is anticipated to witness a high growth in the global firestop sealants market owing to the rise in residential and commercial sector. Moreover, MEA and Latin America is projected to showcase most enthusiastic growth in the global firestop sealants market due to the rise in the population coupled with an upsurge in construction activities across the region. Europe and North America are one of the key developed regions that will generate creditable opportunity in the global firestop sealants market over the forecast period due to the existence of significant industrial sector.
Firestop Sealants Market: Prominent players
Prominent players for the global Firestop Sealants market are 3M Company, Hilti, Rockwool, H. B. Fuller, Bostik (Arkema), Tremco, Everbuild (Sika AG), Specified Technologies, Fosroc (JMH Group), Pecora, Trafalgar Fire, Promat, Metacaulk (Rectorseal), Entc Nuclear Technology, Bai Yun Chemical, Nelson Firestop (Emerson) and other key market players. The firestop sealants market consists of well-diversified global and regional players with global vendors ruling their respective regional market.
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