Flexible Firestop Sealant Market Report Overview
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The global flexible firestop sealant market size is USD 792.1 million in 2022 and is projected to touch USD 1.20 billion by 2028, exhibiting a CAGR of 7.3% during the forecast period.
Firestop sealants are a particular kind of sealant that aids in containing the spread of fire. Firestop sealants stop a fire from spreading by caulking any openings to a building's floors, ceilings, or wall assemblies that are fire-rated interiors. Firestop sealants greatly limit the formation of smoke and other dangerous toxins in the building and provide fire-resistant qualities with remarkable endurance. Firestop sealants may function as an acoustic barrier by limiting sound transmission. Paint can be applied to firestop sealants, and they are also simple to wash with water.
The flexible firestop sealant also serves as an acoustic barrier, minimizing sound transmission between the surfaces. Due to its use in residential, commercial, and industrial & institutional (I&I) applications, which is paintable, is quickly gaining significance in the market. Since they are relatively new on the market, these are said to be simple to clean with water. These firestop sealant is a very new technology on the market, and only a few companies have been identified as being involved in its production and distribution. The ability to move that flexibility provides the flexible firestop sealant in joints and seals that are fire-rated is its principal benefit. Either a tube or a bottle of the product.
COVID-19 Impact: Disruption of Supply Chain Hampered Growth during Lockdown
The global COVID-19 pandemic has been unprecedented and staggering, with flexible firestop sealant 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.
The COVID-19 pandemic has had a variety of direct and indirect repercussions on the world economy, including financial impact, supply chain instability, and direct effects on production and demand. Additionally, has had a severe influence on the global supply chain for manufacturers and forced the closure of manufacturing facilities to reduce the danger of viral transmission. Additionally, the global market for chemicals & materials products under flexible fire protection sealants has increased as a result of lockdown rules. Due to the updated global market demand, companies and industry leaders have started to spend to increase their manufacturing capabilities.
LATEST TRENDS
"Rapid Development in Various Sectors to Propel Market Growth"
The residential, commercial, and industrial sectors' ongoing development is the primary driver of the global market for firestop sealants. As a result, demand for firestop sealants has surged in all significant growing economies. Sales of firestop sealants are being further boosted by macroeconomic variables such as increased safety rules and recommendations for industries worldwide, growing industrial activity, and improved fire prevention. It is projected that the growing safety concerns about safe industrial operations would significantly increase demand for firestop sealants and drive the global market for those materials. These factors are anticipated to augment the flexible firestop sealant market growth.
Flexible Firestop Sealant Market Segmentation
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- By Type Analysis
By type, the market is segmented into elastomeric type and intumescent type.
- By Application Analysis
Based on application, the market is classified into residential buildings, commercial buildings, industrial buildings, and others.
DRIVING FACTORS
"Rising Demand for Advanced Flexible Firestop Sealants to Propel Product Demand"
Rising demand for silicone fire barrier sealants will be supported by expanding construction investments in both commercial and residential buildings. In the upcoming years, the growth of residential construction will also be fueled by supportive government initiatives, such as housing for everyone and decreasing bank rates. The rate of product adoption in sealing nonporous and expansion joints, ducts, porous substrates, electrical conduits, sanitary fixtures, pipes, and electrical wiring in ceilings will be boosted by factors such as high durability.
"No Maintenance and Products Aggressive Advertising to Aid Growth"
The flexible firestop sealant does not require any additional maintenance after installation with the manufacturer's mentioned specifications. The rising concern for the security and safety of property and lives are anticipated to propel the flexible firestop sealant market growth. Additionally, the manufacturers of flexible firestop sealants have implemented aggressive pricing, advertising, and marketing strategies to augment the expansion of the market. The adoption of advanced strategies and aggressive marketing is forecasted to aid flexible firestop sealant market growth in the forthcoming years.
RESTRAINING FACTORS
"High Cost and Complex Installation of the Product to Hinder Market Growth"
The installation of flexible firestop sealant is a complex process that hampers the adoption of the product in the global market. Moreover, it costs high, which resists small businesses from adopting it. These factors are anticipated to hamper the growth of the market.
Flexible Firestop Sealant Market Regional Insights
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"North America to Dominate Market Due to the Stringent Regulations for Safety against Fire"
North America is most likely to hold more than 40% of the overall flexible firestop sealant market share due to the government’s stringent regulations pertaining to the precautions and safety against fire in the region.
Europe is forecasted to hold a significant market share owing to the rising consumption of flexible firestop sealants from commercial and residential sectors in the region.
Asia Pacific is likely to show sizable growth in the global market, accredited to the steady growth of industrial sectors in emerging countries such as India, China, and Japan.
KEY INDUSTRY PLAYERS
"Key Players Focusing On Innovative Technology Development to Grow in the Market"
Many businesses are implementing various marketing methods to meet customer demand and expand their geographic reach globally by offering training and education to lower workplace accidents. To provide more simple ways to expand the product catalog, businesses are attempting to build new technology. Businesses also employ cutting-edge methods and procedures to develop cutting-edge technologies. To expand revenue, companies concentrate on acquisitions and investments. Due to the presence of multiple large corporations, the market is competitive. Other features include a significant global consumer base and the use of specialized distribution networks for business operations. By introducing new products, major corporations try to increase their market share
List of Market Players Profiled
- 3M (U.S.)
- Hilti (Liechtenstein)
- Rockwool (Denmark)
- H. B. Fuller (U.S.)
- Tremco (U.S.)
- Everbuild (Sika AG) (Switzerland)
- Specified Technologies (U.S.)
- Fosroc (JMH ) (U.A.E.)
- Pecora (U.S.)
- Trafalgar Fire (U.S.)
- Promat (Australia)
- Metacaulk (Rectorseal) (U.S.)
- Entc Nuclear Technology (U.A.E.)
- Bai Yun Chemical (China)
- Nelson Firestop (Emerson) (U.S.)
- Bostik (Arkema)
REPORT COVERAGE
An overview of the product is provided along with the product description. Numerous industry elements are included in the research. The market insights are prepared by utilizing large sample sizes for data-gathering modules. The study provides in-depth market insights. The stage includes gathering market data or related data using a variety of sources and tactics. It involves going over and organizing all the information gathered during the previous advance. It also covers the investigation of information discrepancies found across various information sources. Market statistical and coherent models are used to assess and estimate market data.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 792.1 Million in 2022 |
| Market Size Value By | US$ 1208.9 Million by 2028 |
| Growth Rate | CAGR of 7.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Types & Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the flexible firestop sealant market expected to touch by 2028?
Based on our research, the flexible firestop sealant market is projected to touch USD 1.20 billion by 2028.
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What CAGR is the flexible firestop sealant market expected to exhibit by 2028?
The flexible firestop sealant market is expected to exhibit a CAGR of 7.3% by 2028.
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What are the segments of the flexible firestop sealant market?
By type, the flexible firestop sealant market is segmented into elastomeric type and intumescent type. Based on application, the market is classified into residential buildings, commercial buildings, industrial buildings, and others.
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Which are the driving factors of the flexible firestop sealant market?
Rising demand for advanced flexible firestop sealants to propel product demand and no maintenance and products aggressive advertising to aid growth are the factors driving the flexible firestop sealant market.
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Which are the top companies operating in the flexible firestop sealant market?
3M, Hilti, Rockwool, H. B. Fuller, Bostik (Arkema), Tremco, Everbuild (Sika AG), Specified Technologies, Fosroc (JMH ), Pecora, Trafalgar Fire, Promat, Metacaulk (Rectorseal), Entc Nuclear Technology, Bai Yun Chemical, and Nelson Firestop (Emerson) are the top companies operating in the flexible firestop sealant market.
