Firestop Sealants are specific type of sealants that help avert the spread of fire. They prevent the fire from spreading by sealing openings to fire-rated interiors of a building construction, floors, ceilings or wall assemblies. They are possessing fire resistant properties with exceptional longevity, as well as greatly reducing the formulation of smoke and other harmful toxins. They could also additionally act as an acoustic barrier by reducing the transfer of noise. Firestop Sealants are paintable, and can also be easily cleaned with water.
The Europe Firestop Sealants industry
was 193.71 million USD in 2018 and is projected to reach USD 269.71 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 4.82% between 2019 and 2025. The industry is relatively concentration, the key brand include Hilti,3M Company, Rockwool, Everbuild (Sika AG), Bostik (Arkema), Promat, H. B. Fuller, Tremco, Fosroc (JMH Group), Specified Technologies, Metacaulk (Rectorseal), Polyseam?Ltd and so on. The Hilti is the leader with about 27.59% revenue market share in 2018.
Price in Germany and UK is much higher than that of Russia and other countries due to their high quality and powerful functionalities. These countries such as Russia and Italy is more likely to attract more investment opportunity for their potential demand.
Firestop sealants are maintenance-free when used according to the manufacturer's standards, which in turn has fueled the market's demand for them. With increasing attention to the safety of life and property throughout Europe, the market for Firestop Sealants in Europe is expected to continue to grow in the coming years.
Besides, manufacturers of Firestop Sealants have been implementing aggressive advertising, pricing, marketing and distribution strategies so as to augment their volume sales and thereby, increase market penetration. This is expected to boost growth of the Firestop Sealants market in the near future.
Manufacturers of Firestop Sealants have also been focusing on developing products with additional features, such as enabling these sealants to additionally act as barriers against airborne sound transmission. Ease of application of Firestop Sealants has also been an important criteria attributing to the growth in their demand.
However, one of the challenges that Firestop Sealants manufacturers need to address is that many building contractors are not focused on using Firestop sealants and are not familiar with the way they are used and their performance. Therefore, direct training and education is required for these contractors, or distributors and internal systems specialists, who also provide training for wholesale purchasers and building contractors using Firestop sealants.
The European economy achieved modest growth due to the relatively low oil prices, the weakening of the euro exchange rate and the monetary policy of the European Central Bank's quantitative easing, while the European construction industry also experienced growth due to the economic recovery, investors are still optimistic about this area, and there will still be more new investments in this area. The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.