This report was recently updated on November 19 2024 with the latest and most recent
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Global Intumescent Coating Market Size, Trends & Analysis - Forecasts to 2026 By Type of Technology (Water-Based, Solvent-Based and Epoxy-Based); By Type of Application (Hydrocarbons and Cellulosic); By End User (Construction, Oil & Gas, Automotive and Other End-Users); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Intumescent Coating Market Insights
The intumescent coating market will exponentially grow from 2020 to 2026 at 4.3% of CAGR value. Intumescent Coating is a substance which reacts to heat by swelling in a controlled manner to produce a char, which acts as a protective layer between substrate and fire for a specific period. This passive protection is used to protect various industries such as oil & gas, construction, and automotive. Factors propelling its market are strict government regulatory norms and demand for high-performance cost-effective solutions for protection from fire and corrosion from various end-users is triggering its growth. The growing need for protection from fire accidents demand of lightweight material from the aerospace & construction industry and growing awareness about the fireproofing of the residential building are the add on factors compelling to market growth in the forecast period.
To cope up with the advanced next-generation technology, various key players are investing in R & D to develop an innovative, cost-effective, sustainable, and improved efficiency product, therefore, creating opportunities for the intumescent coating market. However in recent times due to global pandemic, there is a temporary shutdown of automotive, oil & gas, construction, and other end-use industries which leads to disruption of the supply chain, construction project stoppage, reduction in customer investment are the negative impacts affecting most of the end-use industries and thus directly restraining intumescent coating growth rate.
Intumescent Coating Market: By Type of Technology
Based on the type of technology the market divided into water-based, epoxy-based, and solvent-based. The epoxy-based Intumescent coating segment brought the highest revenue in 2019 and is estimate to improve its performance in the forecast period. This coating segment provides super protection to the substrate when exposed to fire by developing a thick protective layer at a high temperature which enhances the protection efficiency in comparison to other segments. Besides these coatings are also used in structural steelwork like a beam, column, and frame due to high thermal stability, smooth & plain appearance which wide up application range for this coating segment and hence improves the overall market growth.
Intumescent Coating Market: By Type of Application
The application market is segmented into cellulosic and hydrocarbons. Hydrocarbons' intumescent coating is expected to show the fastest CAGR in the projected year. Properties like high thermal stability, reduction in fire spread, and chemical resistance are the drivers of its market. These coatings are of great demand in oil & gas industries where they form tough insulation of char against fire breakout to reduce the further spread of fire. Many industries are investing in this segment to ensure the safety of the worker and support government guidelines which act as a booster to its market.
Intumescent Coating Market: By Type of End-User
Based on end-user the subdivisions of the market are construction, oil & gas, automotive, and other end-users. The oil & gas segment is expected to lead the market in the forecast year due to increase investment in deep-sea projects, marginal fields, refining capacity expansion, and exploration activities. Growing awareness regarding building fire protection and stringent government regulatory norms used in construction industries are further adding values to the market growth in the construction segment. Due to lightweight properties, these intumescent coating can be used as fire prevention in the aerospace industry to prevent the vehicle from engine combustion damage and hence generate more demand for the product leading to an increase in market growth.
Intumescent Coating Market: By Type of Region
Based on the region, the market is segmented into North America, Asia-Pacific, Europe, Middle East, and Africa, and Central & South America. Asia-Pacific is expected to dominate the market during the forecast period due to rapid industrialization & urbanization, increase end-user demand, and proximity to raw material suppliers are the key driver of intumescent coating in this region. The low cost of raw material with skilled laborers provide big room for the investors to set up industries in Asia- Pacific region. Thus increased construction projects and industries will eventually drive the overall intumescent coating in the coming years. The Middle East and African region are also estimated to uplift intumescent coating in the coming years due to an increase in construction and industrials setups.
Intumescent Coating Market Share and Competitor Analysis
The key players operating in the market are The Sherwin-Williams Company, Nullifire, Jotun, Contego International Inc., Hempel A/S, No-Burn Inc., Carboline, Albi Protective Coatings, Isolatek International, Rudolf Hensel GmbH, Inc., Flame Control Coatings, 3M Company, Sika AG, Tor Coatings, Akzo Nobel N.V., and PPG Industries among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2020, Akzo Nobel N.V, collaborated with Stahle for launching performance powder coating and products which are sensitive for heat substrates (80-100 °C).
In December 2019, Jotun renewed its collaboration with COSCO SHIPPING International Hong Kong Ltd. Jotun COSCO Marine Coatings to focus on establishing a big coating market for the shipping industry in China.
Check the Press Release on Global Intumescent Coating Market Report
Intumescent Coating Market: By Type of Technology
Intumescent Coating Market: By End-User
Intumescent Coating Market: By Type of Application
Intumescent Coating Market: By Region
The global Intumescent Coating Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Intumescent Coating Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
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