Intumescent Coatings Market Research Report: Information by Technology (Water-Based, Solvent Based, Epoxy Based) by Application (Hydrocarbon, Cellulosic) by End Users (Building & Construction, Automotive & Transportation, Oil & Gas, Aerospace) by Region (North America, Europe, Asia Pacific) - Forecast till 2028
ID: MRFR/CnM/9055-HCR | November 2022 | Region: Global | 99 Pages
Intumescent Coatings Market
For the ongoing forecast period of 2021-2028, the Intumescent Coatings Market is expected to reach a market value that accounts for USD 1,110 million. The expected growth rate that is CAGR for the market stands at 4.3%.
$1,110 million
Market Size
4.3%
CAGR
Asian Pacific
Dominating Region
2021-2028
Forecast Period
Segmentation
Key Players
- Hempel
- Kansai Paint
- Promat Internationa
- Teknos Group
- 3M
- Carboline
- Nullifire
- Sika AG
Drivers
- Growing building and construction industry Increased exploration and production in the oil & gas industry
Intumescent Coatings Market
During the historic forecast period that had ended in 2019, the intumescent coatings market value was estimated at USD 900.1 million. However, for the ongoing forecast period of 2021-2028, the market is expected to reach a market value that accounts for USD 1,110 million. The expected growth rate that is CAGR for the market stands at 4.3%.
The Intumescent coatings market offers a wide range of products that are used for processes like passive fire protection and in end-use industry segments, such as building & construction, industrial, and aerospace, amongst others. The Intumescent coatings are known to act as a protective barrier for substrates against fire and further, are known to provide rescue and evacuation time in the event of a fire. The recognition is being largely recognized in the ongoing forecast period that will be ending in 2028.
COVID 19 Analysis
The intumescent coatings market size has been impacted adversely due to the outbreak of coronavirus disease and hence, the losses and unavailability of resources and skilled labor are further, worsening the market’s condition during the forecast period that will be ending in 2028. The arrival of the pandemic has caused a major degree of havoc and disruption that might hamper the growth and expansion goals of the market set for the period. The global governments had a tough time in understanding a reliable way in tackling the outbreak but the rising cases and less knowledge about the disease and precautionary measures will help the market come across a better position in the global market premises. The pandemic has been a major cause of trouble and hence, there was a need to impose lockdown and functional restrictions that had added to the misery. Due to the lockdown, there was an absence of resources, raw materials, and skilled labor that might hamper the skills of the market.
However, the intumescent coatings market is likely to witness good expansion during the ongoing forecast period of 2021-2028. The rising market investments and availability of funds are likely to boost the research and development projects for product enhancement and portfolios for the target audience that is spread in various global locations that are a part of the worldwide market.
Competitive Landscape
The prominent players of the market are as follows:
- Hempel
- Kansai Paint
- Promat Internationa
- Teknos Group
- 3M
- Carboline
- Nullifire
- Sika AG
Market Dynamics
Drivers
The intumescent coatings market trends show that the market is witnessing a major demand for its products and services in a series of industries including the building and construction industry that will drive the growth for the market during the ongoing forecast period that will be ending in 2028. Also, there has been an increasing preference for lightweight materials amongst the target audience that is present in the global market premises and is related to the building & the construction industry are driving the market for intumescent coatings.
Restraints
The intumescent coatings market trends show that the global market functioning needs to dissolve certain market issues and challenges to grow as per the predictions that have been predicted for the ongoing forecast period that will be ending in 2028. The market is witnessing a huge degree of fluctuations in the prices related to raw materials for the market products and services that is likely to harm the growth for the market that is predicted from 2021 through 2028. Also, the lack of skilled professionals and awareness is deteriorating the growing size of the market during the forecast period.
Technology Analysis
The USP of the intumescent coatings market size globally is the flame retardancy along with the regulatory compliance that will have positive attributes in the market during the ongoing forecast period, as well. The global market is witnessing the increased degree of innovation and technology that is being employed across a series of market sectors and companies during the forecast period. The rising degree of production is prominent in the oil and gas industry which is presenting the market with a fortunate, expandable, and profitable tomorrow especially during the ongoing forecast period that will be ending in 2028.
Study Objectives
- The intumescent coatings market report conducts an in-depth and qualitative market analysis of the functioning of the market in various global locations. The market report helps to understand the market factors that will lead the way of the market towards growth and the possibilities of challenges for the forecast period of 2021-2028. Also, the report covers the factors that will be helpful to the experts in predicting the growth statistics for the market during the period.
- The market report will help in understanding the factors that will result in the global market segmentation. The functioning of the market in segments will help in meeting the rising needs of the target audience that is spread in various locations. This will help in enhancing the potential of the market to meet the revenue goals set for the period.
- The market report is further, helpful in analyzing the factors that will result in the expansion of the market owing to the competition that is resulting in the birth of various recent developments of the industry in the forecast period that will be ending in 2028.
Segment Overview
The intumescent coatings market growth can be attributed to the excellent performance that has been accounted for on behalf of the global market segments for meeting the needs of the target audience. The market segments are as follows:
Based on the type
The type segment of the global market includes thick film and thin film intumescent coatings.
Based on the Substrate
The substrate segment of the intumescent coatings market includes structural steel, cast iron, wood, and others like fiberglass, concrete, and plasterboards.
Based on the Application Technique
The application techniques of the market are sprays, brushes, and rollers.
Based on the end-use Industries
The intumescent coatings market demand is rising in industries like building and construction, industrial, and others like electrical, electronics, mining, and automotive.
Regional Analysis
The intumescent coatings market value is likely to be the maximum in the Asian Pacific region in the global market premises. The establishment of manufacturing facilities in the region along with the growth of the construction industry in countries such as China, India, and Indonesia is expected to drive a prominent demand degree for intumescent coatings in the region. Also, there has been a significant use of low-cost alternatives in developing economies that need to be worked upon for the intumescent coating market expansion globally. The rising degree of urbanization and an increase in the building and construction activities will offer growth opportunities to the intumescent coatings market.
Recent Developments
- September 2021 — a worldwide leading player in sustainable, high-performance building envelope solutions, Huntsman Building Solutions, announced a collaboration with the proven and trusted fire protective coatings company, No-Burn, Incorporated. As per the partnership agreement Huntsman Building Solutions is allowed to sell No-Burn’s intumescent coatings with the help of contractor customers across the United States. The coatings, No-Burn Plus ThB and No-Burn Plus XD are the right choice to be used with spray polyurethane foam insulation and, effective instantly, is now available for sale via Huntsman Building Solutions.
No-Burn Plus XD is a type of intumescent coating that is used as a constituent in an alternate ignition barrier assembly. The fire protective coating is particularly engineered to be used with spray polyurethane foam insulation to protect spray foam insulation in crawl spaces and attics. After exposure to flame and heat, No-Burn Plus XD expands, making a char-barrier, which protects preserved substrates from fire. The coating is the right choice for both closed-cell and open-cell spray foam insulation and is available in Gray. - July 2021-Hempel, a worldwide leader in coatings and services in the protective, marine, decorative, container and yacht industries, announced the launch of its Hempafire Pro range of passive fire protection coatings in regions including Caribbean Central America, and Mexico. The products preserve the stability of steel structures in the event of a fire for over 120 minutes to improve building safety.
Passive fire protection (PFP) coatings is used to insulate steel at the time of fire, expanding its load-bearing capacity and offer valued extra time for emergency response and evacuation purposes. Hempel’s Hempafire Pro PFP range comprises two intumescent coatings. Hempafire Pro 315 offers over 90 minutes of cellulosic fire protection and is augmented for 60 minutes. Hempafire Pro 400 offers over 120 minutes of cellulosic fire protection and is optimized for 90 minutes. Both of them offer very low loadings that can enhance project efficiency. - By the substrate segment of the market, the structural steel alongside the cast iron segment is likely to project and is expected to grow at the highest market CAGR for the ongoing forecast period that will be ending in 2028. The higher market growth of this prominent segment of the global market is attributed to be on the path of an increase in both the building and construction activities that make use of steel.
- The US regulation NFPA 251 standards have specified the tests to check fire resistance of the oil and gas followed by the construction industry materials that help to provide fire safety. The Intumescent coatings market has manufactured the products to have to be tested under this standard for fire protection.
- In the UK, intumescent paints are used for their application both according to standards and the best market practices. These standards have been outlined for approved Document A which covers the regulations concerning the structural elements of a building in the UK, England, followed by Eurocodes which is a set of European standards that regulate structural design in the European Union.
- In May 2017, AkzoNobel - a prominent market player is opening its new performance coatings facility in Chonburi, Thailand. The new plant in Thailand is expected to opt for the manufacturing process of products for the company’s performance regarding the coatings and decorative paints in the form of the business segments. The expansion of the market adds to the company’s organic growth and helps in gaining momentum and further, provides a continuous sustainable footprint.
Report Overview
The intumescent coatings market report highlights the prominent and important market factors that will result in the global growth of the market based on the predictions for the forecast period of 2021-2028. The report discusses the basis on which the market has been segmented and the recent developments undertaken in the industry premises during the forecast period.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2028: USD 1,110 Million |
| CAGR | 4.3% (2021-2028) |
| Base Year | 2020 |
| Forecast Period | 2021 to 2028 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Application, End Users |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Akzonobel NV PPG Jotun The Sherwin-Williams Company Hempel Promat International Kansai Paint Teknos Group Carboline 3M Nullifire Sika AG BASF SE Contego International, Inc. Isolatek International |
| 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 |
Frequently Asked Questions (FAQ) :
The APAC region will dominate the global market trends.
Hempel,Kansai Paint,Promat Internationa,Teknos Group,3M,Carboline,Nullifire,Sika AG
The market is likely to grow and attain a global CAGR of 4.3%.
