Global Intumescent Coatings Market: Overview
The rising demand from end-use industries such as construction and oil and gas is anticipated to boost the global intumescent coatings market. The market will also gain impetus from the demand generated by the automotive industry. The automotive industry is expected to grow at a rapid pace in the next few years following the launch of new vehicle models with in-built advanced safety features. This will emerge as a prime factor fueling the demand for intumescent coatings from the automotive industry. The implementation of stringent regulations for improved fire safety in buildings and the increasing emphasis on building aesthetics will also propel the growth of the global intumescent coatings market.
Intumescent coatings offer lower installation complexity and a wide range of operating temperatures as compared to other types of passive fire protection products. The rapid infrastructural development witnessed in the emerging economies of Asia Pacific such as India, Indonesia, and China and the rising emphasis on safety standards are also expected to drive the global intumescent coatings market.
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The report presents a comprehensive analysis of the various factors that will drive and restrain the global intumescent coatings market. It also covers exhaustive information relating to the market’s performance in the past and the impact of prevailing government policies on its growth trajectory in the future. To study the prevailing competitive landscape, the report also profiles the most prominent enterprises operating in the market.
Global Intumescent Coatings Market: Key Opportunities and Threats
Paradigm shift in consumer preference from solvent-based to water-soluble coatings due to the superior performance offered by the latter and reduced VOCs will result in the surging demand for intumescent coatings during the forecast period. However, fluctuating raw material prices are likely to hamper the growth of the market to a great extent since it is highly dependent on petrochemicals. Nevertheless, increasing investments in the research and development of bio-based epoxy resins used in intumescent coatings manufacturing will augment the industry growth in the near future.
Based on application, the two major segments of the global intumescent coatings market are cellulosic coatings and hydrocarbons. Of these, the cellulosic coatings segment led the market owing to rising demand from residential and commercial construction activities. Regionally, the market is expected to witness rising demand from North America and Asia Pacific.
In terms of end-use industry, the oil and gas industry exhibits the highest demand for intumescent coatings. The market also witnesses rising demand from the construction and automotive industries. The growing awareness regarding safety among consumers along with rising emphasis by regulatory bodies on implementing suitable fire protection standards is expected to boost the demand for intumescent coatings.
Global Intumescent Coatings Market: Region-wise Outlook
Asia Pacific exhibits attractive prospects for enterprises operating in the global intumescent coatings market. The rapid industrialization and economic boom witnessed in the emerging economies of the region provide lucrative opportunities for the market. Additionally, strong infrastructural spending in India, China, South Korea, and Malaysia augments the demand for improved fire safety, which is in turn, driving the market for intumescent coatings in the region.
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The market for intumescent coatings in the U.S. is also growing at an impressive pace, driven by opportunities from the aerospace industry. Stringent regulations mandating the implementation of fire protection in buildings will augment the demand for intumescent coatings from Europe. Latin America and the Middle East and Africa are also expected to report high demand for intumescent coatings in the future.
Global Intumescent Coatings Market: Vendor Landscape
To provide a holistic evaluation of the prevailing vendor landscape, the report profiles companies such as No-Burn Inc., Sherwin-Williams, Jotun Group, AkzoNobel, and others. The strengths and weaknesses of the companies profiled are examined in detail. The report also provides insights into the threats and opportunities that these companies may witness in the near future.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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