“Global Preformed Firestop Devices Market to reach a market value of USD 490.4 Million by 2031 growing at a CAGR of 5.8%”
The Global Preformed Firestop Devices Market size is expected to reach $490.4 million by 2031, rising at a market growth of 5.8% CAGR during the forecast period.
There is a growing awareness of the importance of fire safety in the Asia-Pacific region. Educational initiatives and increased media coverage of fire incidents have heightened awareness, leading to greater adoption of firestop solutions. Thus, the Asia Pacific region generated 1/4th revenue share in the market in 2023. The region's rapid industrialization leads to the construction of numerous factories, warehouses, and other industrial facilities. These facilities require extensive fire protection measures to safeguard against fire hazards, boosting demand for preformed firestop devices.
Passive fire protection systems, including preformed firestop devices, are highly effective in containing fire and smoke within compartments or fire-rated barriers. These devices seal penetrations in walls, floors, and ceilings, such as openings for pipes, cables, and ducts, preventing fire and hot gases from one area to another. Worldwide, the installation of passive fire protection systems is required in new construction and restorations due to strict building codes, laws, and standards. Thus, rising demand for passive fire protection systems drives the market's growth.
Additionally, as construction activities rise globally, the demand for fire safety solutions, including preformed firestop devices, is increasing. New construction projects across residential, commercial, industrial, and institutional sectors require compliance with building codes and fire safety regulations, which mandate the installation of firestop systems to enhance building safety and protect occupants. These regulations mandate the installation of firestop systems, including preformed firestop devices, in all types of buildings to mitigate the spread of fire and smoke, provide evacuation routes, and facilitate firefighting operations. Therefore, increasing construction activities are propelling the growth of the market.
However, the upfront costs of purchasing and installing preformed firestop devices can be substantial for building owners, developers, and contractors. These costs include the purchase of firestop devices themselves, specialized installation equipment, and skilled labor to ensure proper installation. High initial costs can strain the budgets of construction projects, particularly for smaller businesses, residential developments, and public infrastructure projects with limited funding. Thus, high initial costs are hampering the growth of the market.
Based on type, the market is divided into sleeves & pathways, fire brick, blocks, & plugs, and others. In 2023, the sleeves & pathways segment garnered 52% revenue share in the market. Sleeves and pathways are highly versatile and can be used in various applications. They are designed to protect various penetrations, including pipes, cables, and ducts, making them essential for numerous construction projects across residential, commercial, industrial, and institutional sectors.
On the basis of application, the market is segmented into plumbing, electrical, and others. The plumbing segment recorded 41% revenue share in the market in 2023. Plumbing systems require numerous penetrations through walls, floors, and ceilings for water, gas, and waste pipes. Each penetration represents a potential pathway for spreading fire and smoke, necessitating effective fire-stopping solutions.
By end user, the market is segmented into residential, commercial, and industrial. The industrial segment procured 29% revenue share in the market in 2023. Industrial environments often involve high-risk operations, such as the handling of flammable materials, heavy machinery, and complex electrical systems. Effective fire-stopping solutions are essential to mitigate these risks and prevent the spread of fire, smoke, and toxic gases.
Free Valuable Insights: Global Preformed Firestop Devices Market size to reach USD 490.4 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 39% revenue share in the market in 2023. North America is experiencing robust construction activity across residential, commercial, and industrial sectors. The growing number of new buildings and renovations increases the demand for effective firestop solutions to protect these structures from fire hazards. The construction industry in North America is known for adopting advanced building practices and technologies.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 316.6 Million |
| Market size forecast in 2031 | USD 490.4 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.8% from 2024 to 2031 |
| Number of Pages | 233 |
| Number of Tables | 350 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, End User, Region |
| Country scope |
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| Companies Included | Specified Technologies Inc., RectorSeal Corporation (CSW Industrials, Inc.), Knauf Insulation GmbH, 3M Company, BASF SE, Etex NV, Hilti AG, Morgan Advanced Materials PLC, RPM International, Inc., Sika AG |
By Type
By End User
By Application
By Type
By End User
By Application
This Market size is expected to reach $490.4 Million by 2031.
Rising Demand for Passive Fire Protection Systems are driving the Market in coming years, however, High Initial Costs of Preformed Firestop Devices restraints the growth of the Market.
Specified Technologies Inc., RectorSeal Corporation (CSW Industrials, Inc.), Knauf Insulation GmbH, 3M Company, BASF SE, Etex NV, Hilti AG, Morgan Advanced Materials PLC, RPM International, Inc., Sika AG
The expected CAGR of this Market is 5.8% from 2024 to 2031.
The Commercial segment is leading the Market by End User in 2023; thereby, achieving a market value of $257.1 million by 2031.
The North America region dominated the Market by Region in 2023; thereby, achieving a market value of $183.4 million by 2031.
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