Business news from Ukraine

Thanks to the best price-quality ratio, professional service and high customer confidence, Kovlar Group’s share in the Ukrainian fire protection market in 2024 amounted to 60%, and for some products it reaches 90%. The company announced this in a press release.
According to the company’s co-founder Kostiantyn Kalafat: “In 2016, the then newly established Kovlar Group offered the Ukrainian construction market an affordable fireproof plaster Ammokote GP-240, which completely changed the rules of the game in the segment. Prior to that, the market for fire protection materials was largely divided between unscrupulous Russian manufacturers and importers of European products, who kept the prices for fire protection high. This not only increased construction budgets, but also harmed the development of the steel construction industry in Ukraine, as customers refused to use steel solutions in their projects due to the high cost of fire protection.”
According to him, after the launch of the innovative Ammokote GP-240 gypsum plaster, due to the excellent combination of high fire protection properties and low price, it became so successful that in a few years it occupied about 80% of the plaster fire protection market. This allowed the company to invest in its own production facilities with modern equipment and a large warehouse, as well as in a research laboratory that allows for fire testing and the development of new materials.
Today, the company’s portfolio includes more than 20 different types of fire protection materials. Over the past 6 years, Kovlar Group’s turnover has amounted to about UAH 200 million, of which the company has paid more than UAH 38 million to the Ukrainian budget, which is a record figure for the fire protection segment.
Kovlar Group is owned by three Ukrainian citizens: Konstantin Kalafat, Lyubov Vakhitova and Andrey Ozeychuk.