Specified Technologies Inc.(STI) and Etex Group (Belgium) are the Key Players in the Fire Stopping Materials Market
The fire stopping materials market size is estimated to be USD 1.4 billion in 2021 and is expected to reach USD 2.4 billion by 2026, at a CAGR of 11.6% during the forecast period. Factors such as increasing fire safety regulations and increasing numbers of fire incidents will drive the fire stopping materials market. The major restraint for the market will be price sensitivity in the emerging regions and slow down in the construction industry during COVID-19. However, development in innovative fire stopping materials will act as an opportunity for the market.
The key market players profiled in the report include Hilti Corporation (Liechtenstein), 3M (US), Etex Group (Belgium), Knauf Insulation (US), Specified Technologies Inc (US), Sika AG(Switzerland), RectorSeal Corporation (US), BASF SE(Germany), RPM International Inc.(US), Morgan Advanced Materials (UK), Rolf Kuhn GmbH (Germany), Tenmat Ltd. (UK), Encon Insulation Ltd. (UK), Fischerwerke GmbH & Co. KG (Germany), Saint-Gobain Group (France), Rockwool International AS (UK), Supremex Equipments (India), Walraven (The Netherlands), Everkem Diversified Products (US), Abesco Fire Ltd. (UK), Lloyd Insulations (India), Den Braven (The Netherlands), HoldRite (US), Unique fire stop products Inc. (US), and Fire Seals Direct (UK).
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Players in the fire stopping materials market are mainly concentrating on new product launches, mergers & acquisitions to meet the growing demand for fire stopping materials for various applications.
The growth of the fire stopping materials market has been largely influenced by new product launches and expansion that were undertaken between 2019 and 2020. Specified Technologies Inc. and Etex Group has adopted organic and inorganic growth to enhance their market position.
Specified Technologies Inc. and Etex Group are two major players in fire stopping materials market. In order to strengthen its position, the companies are focusing on new product launches and acquisition.
Specified Technologies Inc.(STI), is one of the major manufacturers of fire stopping materials and systems. The company has its presence in North America, Europe, the Middle East, and Asia. Apart from construction, the company also deals in the healthcare and marine industries. STI focuses on fire stopping products intended for use as sealing materials for through-penetrations, data pathways, and static and dynamic construction joints, including perimeter containment (curtainwall). In January 2020, Specified Technologies Inc launched 2 new fuel pipe protection E-Wrap systems: FP-3 and FP-4. These systems are available for protection of fuel oil pipes. In October 2019, Specified Technologies Inc. introduced new E-Wrap Endothermic Wrap STI’s latest solution for Circuit Integrity and Survivability of critical infrastructure in the event of Fire.
Etex Group is one of the top players in the fire stopping materials market. The company manufactures fire stopping materials under the Building Performance business segment. Etex owns various companies and provides fire stopping materials under its subsidiary, Promat. The company owns 119 production sites, employs about 13,000 personnel, and has a presence in around 45 countries worldwide. Etex offers various fire stopping products, including boards, panels, sheets, and wraps, under the brands Promaseal and CAFCO. In April 2019, Promat launched PROMASEAL CIL and CIH, a new generation of Cast-in Fire Collars. This was launched by Promat Australia.
In September 2020, Etex group has acquired FSI Ltd, British company specialized in passive protection solutions to strengthen its fire stopping business unit.
Related Reports:
Fire Stopping Materials Market by Type (Sealants, Mortar, Boards, Putty &Putty Pads, Cast-in Devices), by Application (Electrical, Mechanical, Plumbing), End-Use (Commercial, Industrial & Residential), and Region - Global Forecast to 2026
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