Saudi Arabia Passive Fire Protection Materials Market to Grow at 4.4% CAGR by 2023

ALBANY, N.Y. - July 20, 2016 - PRLog -- The passive fire protection materials market in Saudi Arabia is forecast to grow at a 4.4% CAGR for the period from 2015 to 2023. Increasing demand for foams and boards has promoted the Saudi Arabia passive fire protection materials market . The market is expected to grow from US$89.7 million in 2014 to US$131 million by 2023.

Foams and Boards Accounting for 90% of Demand from Passive Fire Protection Materials Market

The report segments the passive fire protection materials market in Saudi Arabia on the basis of product and application. By product type, the passive fire protection materials market in Saudi Arabia is divided into foams and boards, sealants, intumescent coatings, putties, fire blocks, mortar, and cementitous sprays. The passive fire protection materials market in Saudi Arabia was dominated by foams and boards in 2014, which held a 90% market share. Foams and boards, primarily used for interiors of buildings, will continue to dominate the market during the forecast period. Foams and boards are relatively economical and add aesthetic value to the interiors of buildings.

Interpret a Competitive outlook Analysis Report with free PDF Brochure : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5990

By application, the passive fire protection materials market in Saudi Arabia is divided into structural steel fireproofing, duct, cable and wire tray fireproofing, civil, and mechanical and electrical. Doors, glasses, and windows are some other areas where fire protection materials are used. With a 25% market share, the structural steel fireproofing segment led the passive fire protection materials market in Saudi Arabia in 2014. It is important for the sealing of joints, penetration gaps, annular gaps, flooring, and walls to obstruct fire. As structural steel fireproofing forms an essential part of fire protection materials in buildings, this segment is expected to boost the passive fire protection materials market in Saudi Arabia in the coming few years.

Growth of Construction Industry Helping Fragmented Passive Fire Protection Materials Market

The passive fire protection materials market in Saudi Arabia is reasonably fragmented, as a large number of companies operates in the market. Some of the leading participants in the passive fire protection materials market in Saudi Arabia are Jotun, Electropar Performed Line Products, Carboline Company, Hilti Group, NAFFCO, Fire Protection, 3M, and the Fireseal Group. Introduction and implementation of new passive fire protection materials by the key players has helped the market grow rapidly. Structural fire protection, opening protection, fire stopping barriers, and compartments are the four major areas where fire protection solutions are usually implemented.

Increase in construction activities is esteemed to improve the demand from the passive fire protection materials market in Saudi Arabia. The number of rig counts is expected to increase in the Middle East, which will in turn boost the passive fire protection materials market in Saudi Arabia. The main application areas of passive fire protection materials are commercial buildings, residential buildings, institutional buildings, offshore oil rigs, onshore oil rigs, and HVAC systems.

Browse Full Saudi Arabia Passive Fire Protection Materials Market Report With Complete TOC : http://www.transparencymarketresearch.com/saudi-arabia-passive-fire-protection-materials-market.html

Intumescent coatings with solvents tend to produce volatile organic compounds (VOCs) at an alarming rate. This counts as one of the main restraints on the passive fire protection materials market in Saudi Arabia. However, with improved quality and standard of fire protection solutions, the market for passive fire protection materials is forecast to grow rapidly in all areas of Saudi Arabia.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.