Market Forecast
The global Intumescent Coatings Market size was valued at around USD 900.1 million in 2019 and is expected to register a CAGR of over 4.3% from 2021 to 2028.
Intumescent coatings are layers of protective substance that work 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. They act as a protective barrier for substrates against fire to provide rescue and evacuation time in the event of a fire.
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Regulatory Framework
The US regulation NFPA 251 standards specify tests to check fire resistance of the oil & gas and construction industry materials to provide fire safety. There are various other regulations in Europe for intumescent coatings.
Regional Analysis
The Intumescent Coatings market Share 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.
Segmentation
By Application
This segment is bifurcated into hydrocarbon and cellulosic.
Hydrocarbon intumescent coatings reduce the fire risk caused by oil & gas leaks because of their high thermal stability and chemical resistance. These coatings form an 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 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.
By End-Use
This segment is classified into building & construction, oil & gas, automotive & transportation, aerospace, and others.
There is an increasing demand for flame retardants in the building and construction industry due to rapid industrialization and urbanization across the globe. Emerging countries such as China, India, Thailand, Brazil, etc. invest high amounts in infrastructural development to promote intumescent coatings.
Expanding oil & gas exploration projects in line with the rising demand for energy boosts up the demand for intumescent coatings globally.
In automotive & transportation, intumescent coatings are applied under the hood and car bottoms. There is an increased production and sales of automobiles owing to improved economic conditions of the consumers.
They are used on various components in the aircraft industry, including aviation fuel pumps, hydraulic landing gear parts, interior cabin parts, and engine nacelles.
The others segment includes mining, electrical & electronics, etc.
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By Region
North America: Market growth is driven by the presence of a large industrial base in the region. Expanding end-use industries, especially aerospace & defense, building & construction, and the energy sector is the key factor driving the market growth.
Europe: European region is a well-established market. Increasing demand for intumescent coatings across major end-use industries is expected to propel market growth. The expanding aerospace and automotive industry in the region is the key factor driving the demand for intumescent coatings in the region.
Asia-Pacific: This emerged as the fastest-growing region due to the fast-paced industrialization and urbanization in India, Thailand, and South Korea.
Latin America: Rapid industrialization in countries such as Brazil and Mexico is projected to drive market growth during the assessment period.
Middle East & Africa: The presence of large-scale oil reservoirs and infrastructural hubs in the region promote the demand for intumescent coatings in the global market.
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Competitive Landscape
The prominent players of the market are as follows:
- Hempel
- Kansai Paint
- Promat Internationa
- Teknos Group
- 3M
- Carboline
- Nullifire
- Sika AG
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