The Global Fire Resistant Paints Market is expected
to observe very high market growth at rising CAGR in forthcoming period. Fire
resistant paints have become the need of the hour because of scores of lives
has been lost globally on account of fires. Furthermore, changing lifestyles
and new and ergonomic construction methods are feeling its pangs so an
increasing need to adopt fire resistant materials and paints for commercial,
industrial and infrastructures is on the rise.
Growth factors for fire resistant paints market are
protecting lives due to calamity without damaging exterior wall finish. Fire
resistant paints have a tendency to bulge when fire erupts thus protecting the
paint-covered surface from rising flames and prevent loss of property. The foam
obstructs the fire from penetrating the surface and destroying the wall
exterior. This adds to the statement that fire resistant paints travel a long
way in preventing damage to lives and loss of property. The fire-resistant
paints act as a first line of defense till such a time when fire-fighters do
not reach the scene. Fire-resistant paints are increasingly used in industrial
buildings that house hundreds of people at any given time.
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The urban lifestyles and accidents resulting in
closed premises due to accidental fires are growth -related factors to fire
resistant paints market. Additionally, people awareness regarding health and
safety constraints and with the startling discovery that paints which were once
considered a decorative application is now a safety application as well adds as
a growth factor for fire resistant paints market.
Though being an entry market, fire resistant paints
are seizing the opportune moment to strike in a fast-moving market. The
application has wide uses in industrial setups prone to fire-related accidents.
Segmentation of fire resistant paints markets by application includes Building
and construction, oil and gas, automotive, aerospace and marine, electrical and
electronics, furniture and textiles.
By geographical regions, segmentation for fire
resistant paints market includes North America, Europe, Asia pacific, MEA and
Latin America. The key industrial players in fire resistant paints market
include PPG, JOTUN, NIPPON, LANLING,YONGXIN, Champion, TH, SKK, DMD, KUCK,Sika,
Oasis and AkzoNobel.
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