Allied Market Research has recently published a report, titled, “Fire Protection Coating Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global fire protection coating market generated $4.4 billion in 2022, and is anticipated to generate $6.6 billion by 2032, rising at a CAGR of 4.3% from 2023 to 2032.
Prime Determinants of Growth
The growing awareness regarding fire safety, stringent government regulations, and the increasing consumer consciousness regarding the destructive impact of fire accidents are the factors expected to drive the growth of the global fire protection coating market in the forecast period from 2023 to 2032. However, the volatile nature of raw material prices and meeting stringent fire safety standards may hamper market growth in the coming future. On the contrary, the increasing adoption of passive fire protection and rising investments in oil & gas infrastructure development are expected to offer remunerative opportunities for the expansion of the fire protection coating market during the forecast period.
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