The Latin America, Middle East and Africa Preformed Firestop Devices Market would witness market growth of 7.5% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Preformed Firestop Devices Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $9,101.3 Thousands by 2031. The Argentina market is registering a CAGR of 8.3% during (2024 - 2031). Additionally, The UAE market would capture a CAGR of 7.2% during (2024 - 2031).
The adoption of preformed firestop devices has been steadily increasing in recent years, driven by stringent building regulations, heightened awareness of fire safety standards, and advancements in construction practices. Authorities mandate certified firestop systems to ensure buildings meet minimum fire resistance ratings. This regulatory environment compels architects, engineers, and building owners to incorporate preformed firestop devices into construction and renovation projects to comply with legal requirements.
Also, there is a growing awareness among stakeholders—including developers, contractors, and facility managers—about the importance of fire safety in protecting lives, property, and investments. High-profile fire incidents and their consequences have heightened public and professional awareness, prompting proactive measures to enhance fire protection through reliable preformed firestop solutions.
The UAE, particularly Dubai and Abu Dhabi, is experiencing rapid growth in commercial construction projects. This includes skyscrapers, office complexes, shopping malls, hotels, and mixed-use developments. Increased construction activities lead to higher installations of preformed firestop devices to ensure compliance with local fire safety regulations and international standards.
According to ITA, it is anticipated that the UAE's construction industry will experience a robust recovery over the next five years, with an annual growth rate of 4.7% in value. In alignment with the "Projects of the 50" initiative, the UAE government declared its intention to execute a sequence of endeavors to expedite the nation's economic progress and establish it as an all-encompassing center for various industries. Over the coming years, it intends to attract $149.8 billion in foreign direct investment. Therefore, rising commercial construction in the region is driving the growth of the market.
Free Valuable Insights: The Worldwide Preformed Firestop Devices Market is Projected to reach USD 490.4 Million by 2031, at a CAGR of 5.8%
Based on Type, the market is segmented into Sleeves & Pathways, Fire Brick, Blocks, & Plugs, and Others. Based on End User, the market is segmented into Commercial, Residential, and Industrial. Based on Application, the market is segmented into Plumbing, Electrical, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Type
By End User
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