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Fire Resistant Paint Market

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Global fire resistant paints market size is projected to expand significantly and is expected to register a CAGR of 6.67% over the forecast period (2019-2027).
Fire Resistant Paint Market Size, Share and Trend Till 2027
Every year, a significant amount of people die due to fire breakouts. According
to National Fire Protection Association (NFPA), in 2014, every day seven
people die due to home fires in the U.S. Such home fires have turned the focus
on paints that do not contain any fire retardants. In fact, they are inflammable.
That is why fire retardant paints have been in demand in the recent past, due to
their ability to slow down fires. Although modern buildings are equipped with
fire alerts and sprinklers, to suppress the unexpected fire, paints with fire
retardants are crucial. Moreover, fire-resistant paints are used in high-end
industries where expensive machinery is present.
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Market Regional Analysis
North America is projected to account for the largest market share in the global
fire resistant paints market during the forecast period. This is owing to high
presence of buildings with plywood and wood as a major building material,
which is highly susceptible to fire. This is expected to increase the demand for
fire-resistant paints and thereby drive growth of the market. Europe is also
expected to witness significant growth in the market, owing to increasing
demand for fire-resistant paints in the region. Furthermore, Asia Pacific is
expected to have high market opportunities, owing to growing building and
construction activities in the region.
Market Players
Key manufacturers operating in the global fire resistant paints market include
Satya Firotech India Pvt. Ltd., Flame Control Coatings, LLC, Contego
Industries, Inc., and Retardants, Inc.
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pallavi.reddy
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