The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
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Flexible firestop sealant is a special sealant type that prevents the fire from spreading to surrounding areas. The flexible firestop sealant averts fire from scattering to the nearby constructions and other parts of the structure. Flexible firestop sealant seals the openings, making the interiors fire – rated. The flexible firestop sealant possesses superior fire resistant properties and reduce the smoke formulation along with some other harmful toxins. Additionally, the flexible firestop sealant also reduces the transfer of sound between the surfaces, acting as an acoustic barrier. Being paintable, flexible firestop sealant is rapidly gaining prominence in the market owing to its application in the residential, commercial and industrial & institutional (I&I) applications. The flexible firestop sealant are stated to be easily cleaned with water and are relatively new in the market.
Flexible firestop sealant is a relatively new technology in the market and few number of players are noted to be engaged in the production and sales of the same. The main advantage of its flexibility is the movement ability it gives to the flexible firestop sealant in joints and seals that are fire-rated. The flexible firestop sealant is either supplied in a pail (or bucket), tube or sausage. The method of application includes applying a simple layer with the help of a brush or gun.
Flexible Firestop Sealant Market: Dynamics
The flexible firestop sealant is finds significant amount of application from the construction sector. With the increasing investments in the construction sector, mainly residential, the demand for flexible firestop sealant is also expected to grow in tandem with it. The industrial growth in the prominent countries also has a positive impact in the flexible firestop sealant market. There are several regulations pertaining to the insulation against fire in the much mature markets of North America and Europe, contributing to the flexible firestop sealant market optimistically. The mandatory safety norms related to commercial, industrial and residential building establishments is attributed to the use of firestop sealants.
Given its numerous benefits, the flexible firestop sealant finds its market restricted due to the growing VOC (Volatile Organic Compound) regulations. Numerous manufacturers re noted to market flexible firestop sealant as water – based or solvent – free but the low cost solvent based products are also noted to be present in the market.
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Flexible Firestop Sealant Market: Segmentation
The global flexible firestop sealant market can be segmented on the basis of product type, packaging and application.
On the basis of product type, the global flexible firestop sealant market is segmented into:
- Intumescent Type Flexible Firestop Sealant
- Elastomeric Type Flexible Firestop Sealant
On the basis of base compound, the global flexible firestop sealant market is segmented into:
- Polyurethane Based Flexible Firestop Sealant
- Acrylic Based Flexible Firestop Sealant
On the basis of application, the global flexible firestop sealant market is segmented into:
- Industrial & Institutional (I&I)
Flexible Firestop Sealant Market: Regional Outlook
Asia Pacific is estimated to emerge as a lucrative market for flexible firestop sealant owing to the rapid growth industrial growth in the countries such as China and India. Since the economic crisis of 2008 – 09, the construction industry is significantly gaining traction owing to the rise in the investments in the construction project around the world. This is expected to further propel the consumption in flexible firestop sealant market around the globe. Such dynamics in the construction sector are anticipated to highly impact the North America flexible firestop sealant market positioning the region as one of the money – spinning region around the world. The stringent regulations pertaining to safety & precaution against fire in Europe are expected to significantly contribute to the growth of flexible firestop sealant market in the region. With the oil & gas exploration activities at its peak in the Middle East & Africa, the flexible firestop sealant market is anticipated to grow in tandem with it. Further, the flexible firestop sealant market in Latin America is expected to grow at a steady pace over the forecast period.
Some of the market participants in the global flexible firestop sealant market identified across the value chain include
- The 3M Company
- HILTI Corporation
- ROCKWOOL International A/S
- B. Fuller Company
- Bostik (Arkema)
- Sika AG
- Tremco Incorporated
- Specified Technologies Inc.
- Pecora Corporation
- Trafalgar Passive Fire Protection Systems.
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