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Fire Protection Coatings Market accounted for US$ 2766.8 million in 2020 and is estimated to be US$ 3832.11 million by 2030 and is anticipated to register a CAGR of 3.4%. Fire protection coatings are composed of various fillers and flame additives. These coatings are used to prevent the rapid spread of flames on surfaces and to control periods of extreme heat Fire is a chemical reaction that produces energy in the form of heat. The chemical reaction is known as combustion, Fire protection coating are divided in to two main type intumescent coatings and cementitious coatings. The intumescent coatings is also called as passive fire protection coatings. Intumescent coatings divided in to two categories namely, Cellulosic fire protection products this categories are considered for steel components in buildings. These coatings contain combustible materials obtain from plastics, wood, etc. Various hazards are being carried along with increasing industrialization, leading to increased focus on safety and adoption of fireproof coatings. Growth in income and increase in the number of construction projects drive the global fire protection coatings market.

The report " Global Fire Protection Coatings Market, By Type (Passive Fire Protection Coatings and Active Fire Protection Coatings) and By Application (Building & Construction, Oil & Gas, Automotive, Aerospace, Marine, Electrical & Electronics, Furniture, Textiles, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030’’

Key Highlights:

• In June 2022, Hempel Launches Hempafire XTR 100 for Hydrocarbon Passive Fire Protection Hempafire XTR 100, insulates the steel during a hydrocarbon pool fire, increasing the load-bearing capacity of the steel for up to four hours. Firefighters spend more time fighting fires to safely evacuate personnel and protect valuable property and equipment.
• In April 2022, LG Chem and Henkel work to control lithium battery fires LG Chem has developed a fire-resistant plastic that can withstand temperatures up to 1,000°F, the temperature at which lithium explodes. Lazy Chem also said the material could be used to make battery pack covers that protect lithium-ion batteries from burning in the event of thermal runaway and prevent fire from spreading.

Analyst View:

Fire protection coating is used to prevent the rapid spread of flames on a surface and to control the duration of excessive heat. In addition, they also suppress the production of gases formed during the combustion of the material. Superior fire performance, strength, lightweight and low installed cost are the key trends and factors that strongly influence the market. The increase in adoption of fire protection coatings over conventional coatings drives the growth of the global fire protection coating market. Additionally, increasing awareness of fire safety coating and stringent fire safety rules and regulations is driving the market growth.

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Key Market Insights from the report:

Global Fire Protection Coatings Market accounted for US$ 2766.8 million in 2020 and is estimated to be US$ 3832.11 million by 2030 and is anticipated to register a CAGR of 3.4%. The Global Fire Protection Coatings Market is segmented based on Type, Application and Region.

• Based on Type, Global Fire Protection Coatings Market is segmented into Passive Fire Protection Coatings and Active Fire Protection Coatings.
• Based on Application, Global Fire Protection Coatings Market is segmented into Building & Construction, Oil & Gas, Automotive, Aerospace, Marine, Electrical & Electronics, Furniture, Textiles, and Others.
• By Region, the Global Fire Protection Coatings Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Fire Protection Coatings Market:

The prominent players operating in the Global Fire Protection Coatings Market include PPG industries (U.S.A.), Akzo Nobel N.V. (the Netherlands), Sherwin-Williams Company (U.S.A.), RPM International Inc. (U.S.A.), Nippon Paint Holdings Co.(Japan), Axalta Coating Systems, LLC(U.S.A.), Valspar Corporation( U.S.A.), BASE Coatings (Germany), KANSAI PAINT CO.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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