Fireproof Glue Market REPORT OVERVIEW
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The global fireproof glue market size was USD 1149 million in 2022 and market is projected to touch USD 1862.46 million by 2031, at a CAGR of 5.5% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the fireproof glue market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Fireproof glue is used for bonding and joining various materials together such as concrete, glass, steel, stone and others. It is an all-purpose glue which is based on its aluminum silicate and water glass basis. It is an essential resource for the fire protection system to ensure in case of any fire accident, the material remains stable and intact in the structure.
The market demand of fireproof glue has an increasing demand since it is an adhesive used to provide high heat resistance and chemical resistance in various sectors. Due to its quality to withstand in highly extreme temperatures, durability and adhesion it is widely used in repairs of automotive, kitchen appliances, furnaces, metal substrates in vehicles and general industry applications. The glue is offered as a cost effective alternative to welding because of its characteristics of increased strength and chemical resistance.
COVID-19 Impact: Halt of Industrial Operations Witnessed Decline in the Market Growth
The pandemic has halted all the operations over all the countries due to imposed restrictions and lockdown. All industries including the fireproof glue market have seen a decline as the market of the glue is largely dependent on various other sectors. The uncertainty during the covid-19 has slowed down the supply chain of products all over the world. The lockdown imposed and temporary shutdown of industries halted the production and caused hindrance to the fireproof glue market causing a market decline. However, post-pandemic the rise in the innovation of products and industrial developments has emerged as a boost to the glue market which would see a spike in the market share within the forecasted period.
LATEST TRENDS
"Initiatives for Safe Environment in The Industries"
The fireproof proof glue market growth is majorly prioritized on the safety factors while using any machinery which can be exposed to danger of fire. The glue market is dependent on various industries such as automotive, kitchen appliances, electronics, construction and others. The need of the product is to be resistant not only from heat but also from harmful chemicals. They also act as a shield from blasts from reaction of harmful chemicals used in different products. The market demand of glue is increasing in trend in order to operate in safer domains for the machines used in huge industries to households. The glue is also acting as an alternative to many conventional approach products and to emerge as a new definition in the area of safeguard and protection.
Fireproof Glue Market SEGMENTATION
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- By Type
Based on type; the market is divided into Elastometric type and Intumescent type.
- By Application
Based on application; the market is divided into Residential building, Commercial building and Industrial Building
DRIVING FACTORS
" Rise in Urge To Operate In Safer Environment To Spike The Demand Of Product"
The fireproof glue market growth is forecasted to jet due to the high heat and chemical resistance in the industrial equipment. This glue helps to work in extremely high temperatures such as furnaces to operate efficiently and mitigate the risk from blasts. The chemical resistance is another strength to the glue which acts as a shield to work in the highly dangerous chemical reactions areas. The fireproof glue is used in public transport vehicles, trucks, goods carriers, kitchen appliances and others. The urge to develop towards an environmentally friendly world has an effect on demand for the product in the market.
"Adoption of Fireproofing Structures in the Market to Surge the Demand"
The structures in today’s generation are prone to more sophisticated technology in order to provide an automated as well as safer environment to operate. The glue helps in the construction sectors where it acts as a strength in the structural integrity of the building to ensure the components remain intact in event of fire. It also increases the durability of the structure in case of extreme temperatures. The fireproofing structures will become a mandate in coming forward times to facilitate the demand of innovation in the construction industry which will in turn increase the demand of the product. The approach towards a safe environment helps the fireproof glue market to see a spike and increase the demand for the product.
RESTRAINING FACTORS
" Rapid Wearing Out of the Glue to Hinder Market Growth"
High chances of damage on the surfaces is the major drawback with fireproof glue. In certain parts it can also ruin the certain walls and ceilings which. Over a period the glue gets dried of making the product useless and needs replacement which might not be cost effective as well. The glue has a drawback of larger objects to bond on the small surfaces might also act as a restraining factor where the product demand would decline with these factors since the consumer would not prefer glue in such cases creating a market pressure for the product
Fireproof Glue Market REGIONAL INSIGHTS
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"North America to Lead the Market Owing to Growing Demand of Safeguarding Environment"
North America is contributing towards rapid growth of urbanization by constructing advanced residential, commercial and industrial structures which are aiding the feature of fireproof glue in order to enhance the safety measures in the construction. The investments for building such structures is also high in this region which facilitates the demand for a safe environment eventually leading the fireproof glue market share. The demand of the people to innovate the construction is also a factor contributing towards the product demand in this region. The financial perspective of the region where the investments are high to construct such structures to fulfill the demand also helps glue markets to see a spike during the forecasted period.
KEY INDUSTRY PLAYERS
"Market Participants to Contribute Towards the Product Growth "
The report is a comprehensive approach of an in-depth list of market players who dominate in the market. The information collected is done with a proper research of latest technological developments, trends, production lines, mergers and acquisitions. Other factors such as regional wise insights and segment wise analysis are also considered to facilitate innovations, revenue generating segments, product demand and market growth.
List of Market Players Profiled
- Hilti (U.S.)
- Rockwool (Denmark)
- H. B. Fuller (U.S.)
- Bostik (Arkema) (France)
- Tremco (U.S.)
- Everbuild (Sika AG) (U.K.)
- Specified Technologies (U.S.)
- Fosroc (JMH Group) (UAE)
- Pecora (U.S.)
- Trafalgar Fire (U.K.)
- Promat (Australia)
- Metacaulk (Rectorseal) (U.S.)
- Nelson Firestop (Emerson) (U.S.)
- Saint-Gobain (France)
- Guangzhou Baiyun Chemical Industry (China)
- Hangzhou Zhijiang Advanced Material (China)
- Chengdu Guibao Science & Technology (China)
- Entc nuclear Technology (UAE)
- Guangzhou Jointas Chemical (China)
REPORT COVERAGE
The report consists information on factors affecting the market during the forecast period. It also shows the analysis of opportunities, trends, market share, product innovations, technology innovations, driving factors, restraints and others that contribute towards the market growth of the product. This research is subject to alterations if there are any changes in the industry key players and market dynamics.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1149 Million in 2022 |
Market Size Value By |
US$ 1862.46 Million by 2031 |
Growth Rate |
CAGR of 5% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the fireproof glue market expected to touch by 2031?
The global fireproof glue market is expected to reach USD 1862.46 million by 2031.
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What CAGR is the fireproof glue market expected to exhibit by 2031?
The fireproof glue market is expected to exhibit a CAGR of 5.5% by 2031.
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Which are the driving factors of the fireproof glue market?
Rise In Need To Provide Heat And Chemical Resistance In Equipment To Promote Towards Safer Environment
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Which are the top companies operating in the fireproof glue market?
Hilti,Rockwool,H. B. Fuller,Bostik (Arkema),Tremco,Everbuild (Sika AG),Specified Technologies,Fosroc (JMH Group),Pecora,Trafalgar Fire and others