According to the research report titled ‘North America Passive Fire Proofing System Market Forecast 2027 By Product, By Application, By End-user, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America passive fire proofing system market is likely to account for USD 9 billion in valuation by the year 2027.
 

Growing demand for high-quality and reliable fire protection systems coupled with increasing development of fire-resistant walls & floors, doors, and other structural components are driving the growth of North America passive fire proofing system market.

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Based on product landscape, the report claims that fire-resistant glasses captured 12% market share in the year 2020 and will showcase continuous growth during the study period. Such glasses are extensively used in building openings and are known to have various beneficial features such as low maintenance, high durability, temperature resistance and improved safety.

Moving on the application spectrum, the structural fire protection segment held 25% market share in 2020, owing to rising adoption of fireproof coatings, plasters, cladding, and cementitious products to offer robust protection to building beams and columns.

Citing the end-user landscape, North America passive fire proofing system industry from the commercial sector is likely to account for USD 5.5 billion by the year 2027. Rapid urbanization, improving economic conditions, rising per capita income, and increasing infrastructural development are facilitating the business scenario in North America.

On the other hand, residential and institutional segments are also likely to emerge as key revenue generators for the market participants by 2027. Such establishments are known to adopt passive fire proofing systems to ensure reliable fire protection equipment.

The major companies in North America passive fire proofing system industry are Pyroplex Ltd., Tremco Inc., Compagnie de Saint-Gobain S.A., 3M Co., Stonhard Inc., Ruskin Company, Halton Group, Isolatek International Corporation, Promat GmbH, Asahi India Glass Limited, UK Performance Doorsets Limited, Mesker Openings Group, Chase Industries Inc., Rapp Bomek AS, Hormann KG Verkaufsgesellschaft, and Assa Abloy AB.