Global Fire Resistant Mortar Market- Industry Analysis and Forecast (2020-2027)
The global fire resistant mortar market was valued US$ XX.5 Bn and is expected to reach XX.76 Bn by 2027, at a CAGR of X.5% during a forecast period.
Global Fire Resistant Mortar Market
Fire resistant mortar are defined as those materials engineered precisely to stop or reduce the passage of excessive of heated hot gas, and other harmful smokes. These mortars are used for protection against fire in various industries as well as commercial sector. As this fire resistance mortar is available in the form of paste hence get dried after application in short duration that helps to assist the transfer of fire or heat in order to prevent unintentional accident at work place or residential sector.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Market Drivers and Restraints:
Prominent factor to drive the market growth is the result of escalation in the fire related accident in various sectors including industrial sector such as chemical, oil and gas, automotive and residential sector including cities, colonies. Hence, growth in the construction projects related to the new construction and renovation is contributing to the market development across the globe. In industrial sector protection from penetration of fire is a major concern which is leading the market demand. Furthermore, the participant involved in the construction activity are preferring mortal fire resistance over coating spray, putty, sealant and others coupled with the huge awareness and trend is most likely to replace above mentioned traditional methods of fire resistance during the forecasted period. The coating and filers market is also observing a significant growth in the commercial and residential subdivision which is helping the market grow globally. Increase in the consumption of steel globally and rise of retail industry will also contribute to the growth of the market.
On the contrary, presence of substitutes and fluctuation in the raw materials cost will remain the market hindering factor for the global fire resistant mortar market.
Scope of Fire Resistant Mortar Market
Global Fire Resistant Mortar market, By Type
• Preformed Devices
• Cast-in Devices
• Sealants & Fillers
Global Fire Resistant Mortar market, By Application
Global Fire Resistant Mortar Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating the Fire Resistant Mortar Market,
• Specified Technologies Inc
• AkzoNobel N.V.
• Morgan Advanced Materials
• Rolf Kuhn GmbH
• Sika AG
• BASF SE
• Hilti Group
• WR base
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Name: Vikas Godage
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