New York(United States):- Global Fire-resistant Coatings Market is valued approximately USD 975 million in 2021 and is anticipated to grow with a healthy growth rate of more than 3.5 % over the forecast period 2022-2028.
Non-combustible chemicals called fire resistant coatings (or spray) are used in residential, commercial, and industrial buildings fire from spreading, reduce the intensity of fire, reduce the amount of smoke and slow down the fire spread. The increasing preference for lightweight materials in construction industry, increasing awareness and emphasis on safety measures across the globe and government support for green and smart buildings are some of the major drivers, driving the demand for global fire-resistant coatings market.
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For Instance: the Government of India provides rapid environmental approval for IGBC Precertified/ Provisionally Certified green building projects. Also, growing demand for fire-resistant coatings in renovation projects is likely to increase the market growth during the forecast period. However, presence of low-cost alternatives for some applications impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Fire-resistant Coatings market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the significant region across the globe, whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2022-2028, owing to factors such as presence of technical standards relating to fire safety in the building & construction and manufacturing sectors were enforced to assure safety and protection from fire accidents, increased awareness and emphasis on safety measures and a preference for lightweight materials.
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Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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