The global market for fire doors will increase by an average of 4.5 percent annually between 2018 and 2022 due to rising labour and material prices.
Increased security requirements worldwide, however, are the main cause of the solid revenue growth. 12.03 million units were sold last year, with sales set to increase by 3.2 percent annually until 2022, according to a recent study by Interconnection Consulting.
Asia Drives the Market Up
Asia is the driving force behind the market growth in fire doors, as they recorded a sales rise of 13 percent last year. Although increase rates will be more moderate over the next few years (CAGR: 5.7%), most of the global growth will remain in this region. The USA is also set to experience industry growth in the coming years (CAGR: 2.9%), leaving behind Europe. The saturated market in Western Europe is reflected in the forecast growth rates (CAGR 2018-2022 0.3%). Despite strong sales growth of 5.5% this year, sales in Eastern Europe are set to decline until 2022 (CAGR -0.4%).
Steel and Wood Stay in the Lead
Steel is the largest product group for fire doors with a share of 59.3%, followed by wood at 26.1% and aluminum at 13.8%. Steel and wood both recorded growth rates of five percent and more and will continue to increase their share in the coming years. Depending on the country-specific regulations, the demand for the resistance of fire doors also varies. According to Chems Joly, the author of the Interconnection study,
It can be seen that the standards in the industry are becoming increasingly international. At the same time, national associations are pushing worldwide standard higher and higher. Overall, the 30- and 60-minute fire doors dominate the market with a share of over 70 percent.