A surge in construction drives demand for fire safety materials

Future Market Insights, Inc. (FMI) has forecasted a significant growth trajectory for the fire-stopping materials market, attributed to a robust expansion in the construction sector, the implementation of strict safety regulations, and the materials’ application across various industries.

According to a recent FMI report, the market, valued at approximately US$ 2.1 billion in 2024, is expected to witness a compound annual growth rate (CAGR) of 12.2%, reaching an estimated US$ 6.5 billion by 2034.

The construction industry’s resurgence, particularly post-pandemic, has catalysed the demand for effective fire stopping solutions.

These materials, including sealants, mortars, and coatings, are increasingly recognized as essential for complying with rigorous safety standards in both new constructions and renovation projects.

Diverse applications across industries bolster market growth

Fire stopping materials are not limited to the construction and infrastructure sectors.

Their adaptability renders them suitable for a wide range of sectors such as manufacturing, oil and gas, aerospace, electrical, and telecommunications.

The demand in these sectors is primarily due to the materials’ efficacy in safeguarding crucial assets and equipment from fire hazards.

The adoption of these materials is also gaining momentum for their critical role in enhancing the safety of high-rise structures.

Regulatory authorities and building codes are instrumental in advocating for the use of fire-stopping materials in various public and private buildings, including educational institutions, hospitals, and theatres.

Consequently, countries like China, the United States, Japan, and the United Kingdom are leading the global demand for these safety materials.

Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc., emphasized the importance of collaborative efforts in integrating these materials into construction projects: “Companies must often collaborate with construction companies, architects, regulatory bodies, and other stakeholders to ensure that fire stopping materials are integrated seamlessly into building designs and projects.”

Market insights reveal leading segments and regional growth

The report highlights the sealants segment as the dominant force in the global fire stopping material market.

With respect to applications, the electrical sector leads, showcasing a CAGR of 11.80% through to 2034.

The market in the United States is projected to expand at a CAGR of 12.50%, while South Korea’s market is anticipated to grow at an impressive 14.20% CAGR.

Japan and China are also expected to witness significant growth rates of 13.80% and 12.80% CAGR, respectively, with the United Kingdom’s market growing at a CAGR of 13.20% through 2034.

IFSJ Comment

The fire-stopping materials market is poised for substantial growth, driven by the critical need for enhanced safety measures in both residential and commercial buildings.

The demand is bolstered by the construction industry’s recovery, stringent regulatory frameworks, and the materials’ broad applicability across multiple sectors.

As the market continues to evolve, the focus on safety, innovation, and collaboration will remain paramount in protecting lives and properties from fire hazards.