According to MRFR analysis, the global intumescent coatings market size was valued at around USD 935 million in 2019 and is expected to register a CAGR of over 4% from 2020 to 2027.
Intumescent coating is a layer of a protective substance that works by chemical reaction generated by heat, resulting in swelling and formation of an insulating layer on the surface, with or without the release of water.Intumescent coatings are typically solvent-based, water-based, or epoxy-based materials that expand when exposed to heat to form a char which protects the structure in case of fire.
Intumescent coatings are used for passive fire protection in end-use industries such as building & construction, industrial, and aerospace. They act as a protective barrier for substrates against fire to provide rescue and evacuation time in the event of a fire.
Increasing awareness, regulations, and emphasis regarding the safety measuresas well as the increasing preference for lightweight materials in the building & construction industry,is driving the global intumescent coatings market.It is easily processed and can be used on a wide range of materials such as steel, concrete, timbers, and composite elements. Moreover, high product demand in the oil & gas sector owing to stringent regulations, coupled with a rise in exploration activities across the globe, is likely to propel market growth. Intumescent coatings are used in the oil & gas industry to provide fire protection to onshore and off-shore steel structures at high temperatures of 1,100°C and above. In addition to fire protection, the coatings prevent metal and steel structures from corrosion and chemicals, as they are exposed to moist and damp climatic conditions.
However, fluctuations in the prices of raw materials is responsible for the price crisis in paints and coatings industry. Other factors like currency fluctuations and volatile prices of oil are also anticipated to further increase the prices of raw materials such as epoxy resins. Rising raw material costs are expected to force manufacturers to increase the prices of intumescent coatings.
The US regulation NFPA 251 standards specify tests to check fire resistance of the oil & gas and construction industry materials to provide fire safety. Intumescent coatings manufactured have to be tested under this standard for fire protection.
In the UK, intumescent paints need to be applied according to both standards and best practices. These standards are outlined in Approved Document A (which covers regulations concerning the structural elements of a building in England) and the Eurocodes (a set of European standards that regulate structural design in the EU).
Flame retardancy along with regulatory compliance
- Growing building and construction industry
- Increased exploration and production in the oil & gas industry
- Fluctations in raw material prices
- Water-Based: Water-based intumescent coatings are safe to use, have faster drying times, good weatherabilty, are resistant to humidity, and are environment-friendly. Water-based Intumescent coatings can achieve from 30 mins to 3-hour fire ratings and even some limited 4-hour options for steel structures.Given the environmental benefits of water-based coatings, the products are now the preferred choice among specifiers and applications. These coatings are less expensive and produce less odor as compare to other coatings.
- Solvent-Based: Solvent-based coatings are made up of liquefying agents that evaporate via a chemical reaction with oxygen. Typically, moving air surrounding a solvent-based coating will help speed up the reaction,reducing drying times.These coatings have one significant advantage over water-based coatings, which is less susceptibility to environmental conditions such as temperature and humidity during the curing phase.
- Epoxy Based: Epoxy intumescent coatings are suitable by testing and independent third-party approval for fire protection and offer a variety of versatile, durable, attractive, low thickness and low weight coatings for a wide variety of structures.These coatings are used extensively in the petrochemical, off-shore, and marine markets.In the off-shore and petrochemical industries, epoxy intumescent coatings have been used to provide fire protection to steel structures, such as liquid natural gas carriers, oil drilling ships, floating oil and gas production vessels, and oil tankers and naval vessels.
- Hydrocarbon: Hydrocarbon intumescent coatings are extensively used to reduce fire risk caused by oil & gas leaks because of their high thermal stability and chemical resistance. These coatings form a tough insulating char in the event of a fire breakout and protect the steel framework from getting too hot, which reduces the spread of fire.
- Cellulosic: Cellulosic intumescent coatings are used in the construction industry to protect the uncovered steel structures and facilitate escaping at the time of fire accidents by providing heat-resistant layers. Growing demand for intumescent coatings in the construction industry, particularly in industrial and commercial buildings, is expected to propel the segment growth.
By End Use
- Building & Construction: Rapid industrialization and urbanization across the globe in developed and developing regions is expected to drive the global market. Growing preference for lightweight materials in the building and construction industry across the worldandhigh investment for the development of advanced and improved infrastructure promotes the demand for intumescent coatings.
- Oil & Gas: Rising investments in exploration activities, deep-water projects, marginal fields, and refining capacity expansion are expected to propel the product demand in this segment. In addition, growing government emphasis on conforming to stringent fire safety regulations and rising exploration activities in the industry is expected to propel the segment growth over the forecast period.
- Automotive & Transportation: These coatings are applied under the hood and car bottoms to protect the vehicle from various hazards such as overheating, corrosion, CNG gas leak, and battery sparking. Fireproofing and heat resistance are the key characteristics to drive market demand.
- Aerospace: They are used on various components in the aircraft industry, including aviation fuel pumps, hydraulic landing gear parts, cabin interior parts, and engine nacelles.
- Others: The others segment includes mining, electrical & electronics, etc.
- North America: The North American market for intumescent coatings is driven by large-scale end-use industries in the region.
- Europe: The market in Europe is projected to witness demand due to the growth of the transportation, aerospace & defense, and oil & gas in the region. Some of the upcoming oil & gas projects in Europe include Johan Sverdrup Development, Rosebank &Lochnagar Oil & Gas Fields, Johan Castberg Field, Cyprus-Greece Gas Pipeline, and Wisting Central Oil Discovery.
- Asia-Pacific: Asia-Pacific is the fastest-growing regional market on account of the rapid industrialization in the region. The growth potential is in emerging economies such as India, South Korea, Thailand, Malaysia, and others. The establishment of manufacturing facilities in the region and growth in the construction industry is expected to drive the demand for intumescent coatings in the region. The availability of raw materials and low labor costs coupled with low stringent laws regarding VOC emissions compared to North America and Europe has offered great opportunities for developing the end-use sectors such as construction, automotive, and marine in the region.
- Akzonobel NV
- The Sherwin-Williams Company
- Promat International
- Kansai Paint
- Teknos Group
- Sika AG
- BASF SE
- Contego International, Inc.
- Isolatek International
USD 935 million
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Technology, Application, End Users
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
The Sherwin-Williams Company
Contego International, Inc.
Key Market Opportunities
Flame retardancy along with regulatory compliance
Key Market Drivers
Growing building and construction industry
Increased exploration and production in the oil & gas industry