The passive fire prevention market is expected to suffer a major downturn due to Covid-19 and the accompanying fall in construction activity, and business confidence. That market is forecast to dip by 9pc over the year, according to a market research firm. Up to 2020, the market saw a period of consistent growth, increasing in value terms by 11pc between 2015 and 2019, says AMA Research, part of Informa. Much of this was due to the non-residential construction industry, such as commercial offices, infrastructure and leisure, according to the researchers.
The market is expected to remain heavily dependent upon construction, especially non-residential. The present Government’s intention to invest in infrastructure projects via its Getting Building Fund should provide some market impetus in the short term. In the residential sector, new regulations are being introduced aimed at rectifying problems identified in the Hackitt Report, which followed the Grenfell Tower disaster. The Fire Safety Bill of March covers fire safety in residential dwellings and has created new areas of responsibility and accountability. More stringent regulations are also expected to affect the wider industry, as manufacturers and specifiers alike are required to provide safer and more fire-resistant environments.
Michelle Turner, Market Research Analyst at AMA Research, says that key end use sectors pre-2020 helped bring a spurt of growth to the market. “These same end use sectors are now experiencing detrimental effects as a result of COVID-19 and investment has tightened. Supported by the very need of the products found within this market, and driven by further calls for tighter legislation and stricter accountabilities as a result of the Hackitt Review, the Passive Fire Market looks set to remain relatively strong as fire safety remains paramount, helping to keep the boat steady in such adverse conditions.”
Overall, the longer-term scenario for the passive fire protection market remains mixed, AMA adds. Much will depend on how well the UK emerges from Covid-19, as well as what form Brexit takes. Visit www.amaresearch.co.uk.
