NEW YORK (January 22, 2018) — The global fire protection materials market for construction industry is expected to reach USD 8.10 billion by 2025.
The market is anticipated to grow with the implementation of fire safety regulations and strict building codes. In addition, the growing awareness among people toward fire safety is anticipated to trigger the market growth.
According to the latest report by National Fire Protection Association (NFPA) published in 2016, seven lives are lost each day due to fire incidents in the United States alone.
Fire protection materials have gained a high popularity on account of their life-saving performance in the critical situation of fire outbreak. It effectively resists fire from spreading from one area to another. Fire protection materials can withstand fire for a long duration and hence allow firefighters to get fire under control and prevent loss of life and property by extending the time frame available for them during such situations.
Growing positive attitude toward building safety codes along with increasing fire hazard incidents is anticipated to boost the sales of fire protection materials around the globe. Fire protection materials have growth potential and can partially replace the traditional construction materials such as sealants, putty, and coating sprays. There are also various official standards established in order to determine the overall effectiveness of the product.
Key manufacturers constantly focus on high-end research and technological advancements to produce improved fire protection materials, which can withstand fire for more duration and produce less smoke when burnt.
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