The augmenting population, urbanization,
and new technological advancement in coatings have a positive impact in terms
of growth prospects in the intumescent coatings market. The rising population
is creating a demand influx in the construction sector due to which there is an
expected rise in the demand for intumescent coatings. The analyst of IndustryARC
has valued the global intumescent coating market at $900 million as of 2018, and the
demand is estimated to grow at a compound annual growth rate (CAGR) of 4.10%
during the forecast period of 2019 to 2025.
The IndustryARC’s latest market research report is titled “Intumescent Coatings Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast (2019-2025)”. The report also documents that demand for the intumescent coatings market is expected to grow due to imposed fire safety regulations by the governments globally.
Global Intumescent Coatings Market: Demand Analysis
Intumescent paints are the fire-proofing and fire-stopping coatings that are used in buildings, steel, iron, and wood. Ablative coatings and cable coatings are two different types of intumescent coatings. Ablative coating is mostly used in the aerospace and defense industries. Cable coating is widely used in the building and residential sector. Furthermore, passive fire protection is the component of structural fire protection and fire safety in buildings.
Global Intumescent Coatings Market: Leading Segments
The growth of APAC in the global intumescent coatings market is attributable to the contribution of APAC countries such as China, India, the Philippines, and Vietnam that have the most potential market for automobiles due to numerous manufacturing and assembly plants as well as huge consumer base. In addition, the fastest developing economies such as India and China in construction is expected to create consistent demand for the intumescent coatings product. APAC contributed around 25% of regional share in 2018 as it is the largest revenue-generating the region in the intumescent coatings market.
The key application segment in the intumescent coatings market is the oil and gas sector, as cited by the IndustryARC’s analyst in the report. The opportunities for growth in this application is projected to observe a healthy CAGR of 4.50% during the forecast period of 2019 to 2025.
· Increasing Fire Accidents –
The fire can spread rapidly depending upon its cause which results in life and properties losses. This has led to the implementation of stringent safety regulations and fire protection codes. This is the most important growth driver responsible for the intumescent coatings market.
· The Demand for Lightweight Materials –
The major factor that is driving growth in the intumescent coating market is the increasing demand for lightweight materials that are used in the buildings and construction industry. The usage of intumescent coatings materials is more advantageous as it reduces the overall weight of the structure.
· Eco-Friendly Coatings –
There is the emergence of advanced coating technologies. The advanced intumescent coatings don’t produce volatile organic compound or VOCs, which makes the coatings an eco-friendly alternative for a various sector.
· Water-Based Coatings –
It is quite evident that water-based products showcase major benefits. The trend is that the thousands of steel are successfully fire protected with water-based coatings. One of such products is ISOLATEK WB3 that is safer to use and imparts faster drying. Moreover, it reduces over-coating intervals, which happens to be the reason the product is gaining prominence in the market.
· Amalgamation With Carbon Fiber Composites –
Fire protection with carbon fiber composites has been driving the market trend in recent years. The widely used carbon fiber intumescent coatings in the oil and gas industry is easy to handle and lightweight.
Some of the key companies identified in the report that are currently holding majority shares in the global intumescent coatings market are Sherwin Williams, PPG Industries Inc., AkzoNobel NV, Jotun, Kansai Paint, Teknos Group, 3M, BASF, Carboline, Demilec USA, Contego International, and Sika AG.
The global intumescent coatings market is prepared with the main agenda to cover the following 20 points:
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.