Intumescent Coatings Market Size By Technology (Solvent Based, Water Based, Epoxy Based), By Application (Hydrocarbons, Cellulosic), By End-user (Construction, Oil & Gas, Automotive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Published Date: Mar 2016 | Report ID: GMI357 | Authors: Kunal Ahuja, Shreya Deb
Intumescent Coatings Market size estimated at USD 860 million in 2016 and is set to expect consumption of over 155 kilo tons by 2024.
Get more details on this report - Request Free Sample PDF
Growing oil & gas exploration activities owing to Increasing investments along with technological innovations should stimulate intumescent coatings market growth. Global crude oil demand surpassed 98.5 million barrels in 2018 which indicates tremendous growth potential. These intumescent coatings industry are essential for passive fire protection by forming a fire protection layer on structural steel works when in contact with heat thereby reducing explosion risk. Rapid urbanization, economic growth and efficient transportation facilities have led to greater vehicle usage and natural gas consumption which is likely to further accelerate industry growth.
Growing product demand from cargo vehicles and public transport should boost market growth in the automotive sector. Global automotive market demand witnessed a consumption of over 95 million vehicles in 2018 owing to growing urbanisation, expanding middle class and favourable government regulations, which represents healthy market growth opportunities. These coatings find widespread usage under the hood and car bottoms to protect the vehicle from various hazards such as over heating or corrosion. Growing concerns regarding vehicle fire safety along with stringent pollution norms should promote market growth.
Significant demand for substitutes such as cementitious coating owing to its light weight, low cost and hassle-free applications should hamper intumescent coatings market demand. Moreover, low awareness regarding the benefits of these products in India, China and Thailand has resulted in a preference for conventional active fire protection measures which should further hinder industry growth. However, various manufacturers are engaging in product innovation to reduce required fieldwork and maintenance costs, which is likely to fuel market growth.
|Base Year:||2016||Market Size in 2016:||860 Million (USD)|
|Historical Data for:||2013 to 2016||Forecast Period:||2017 to 2024|
|Forecast Period 2017 to 2024 CAGR:||4.7%||2024 Value Projection:||1.2 Billion (USD)|
|Pages:||225||Tables, Charts & Figures:||238|
|Geographies covered (18):||U.S., China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Germany, UK, France, Italy, Russia, Poland, Brazil, South Africa, Saudi Arabia, UAE|
|Segments covered:||Technology, Application, End-user and Region|
|Companies covered (18):||3M Company, AkzoNobel, Albi Manufacturing, Bollom Fire Protection, Carboline, Contego International Inc., Crown Paints Ltd., Firetherm, Flame Control Coatings, Hempel, Isolatek International, Jotun Group, No-Burn, Inc., Nullifire Ltd., PPG Industries, Inc., Rudolf Hensel GmbH, Sherwin-Williams, Sika AG|
|Pitfalls & Challenges:||
Global cellulosic product demand is likely to register over 5% gains by the end of the foreseeable timeframe owing to increasing adoption of decorative furniture and interior designing in buildings. These products help control the spread of fire in houses and buildings by providing additional time for occupants to escape safely and for firefighters to save the building. Changing lifestyles and rise in disposable income should further boost intumescent coatings market value.
Global hydrocarbon product demand exceeded USD 430 million in 2016 pertaining to growing prevalence of flammable liquid leakage from vessels & pipelines. These products form a tough insulating char in the event of fire, thus protecting steel framework from getting too hot by charring and swelling. Rising usage of hydrocarbon and petrochemical complexes in oil and gas industry is likely to accelerate market growth.
Global water-based intumescent coatings market revenue should be valued at about USD 560 million by 2024 on account of stringent government regulations for emission control along with increasing environmental concerns. These substances offer various benefits such as faster drying time, high build capability, resistance to humidity, good weather ability and reduced overcoating intervals. Rapid industrialization and urbanization have resulted in the booming construction and infrastructure sector in India and China which should stimulate market growth.
Global epoxy-based technology demand is estimated to register over 5% gains by 2024 pertaining to substantial growth in construction and automotive industries. It is widely used in petrochemical and offshore industries to provide fire protection for steel structures such as oil drilling ships, oil & gas vessels, pipe works, blast walls, tankers & naval vessels and liquid gas carriers due to durability, fire resistance and corrosion protection. Rising product innovations in flame retardant paints market, new product developments by manufacturers and increasing demand from oil & gas industry should further promote market growth.
Global construction end-use market size surpassed USD 300 million in 2016 on account of rising government investments in infrastructure. These coatings are well-suited for steel and timber surfaces in buildings to stop spread of fire for at least one hour and allow easy application. Stringent government regulations regarding fireproofing and fire safety across civil structures accompanied with growing residential and commercial projects should boost the market growth.
Global automotive end-use market size should exceed USD 100 million by 2024 pertaining to growing consumer incomes and rise in youth population market segment. These products provide high protection from chemical corrosion and extreme heat which makes them ideal for automotive construction. Rising government initiatives to promote investment and growing demand for electric vehicles to reduce emissions should further boost market growth.
North America intumescent coatings market size driven by the U.S. surpassed USD 155 million in 2016 owing to rising government initiatives in finding alternative sources for natural gas production along with various private sector investments. These products form a protective coating, are effective against wide temperature range and are highly fire resistant. Increasing efforts by natural gas industry to improve extraction and drilling methods along with the entry of various small players in shale gas exploration should further accelerate regional industry growth.
Europe driven by UK, France, and Germany market size should exceed USD 320 million by 2024 on account of stringent construction regulations. These products are vital in preventing structural collapse by forming a protective char around steel used in building construction. Growing product demand from booming automotive industry to prevent combustion and corrosion is likely to drive market growth.
Asia Pacific intumescent coatings market demand driven by Japan, India, and China should register over 5.5% gains in the predicted timeframe owing to increasing investments from private & government sector to develop public infrastructure such as roads, railways and transportation. These materials are easy to apply, dry and offer optimum fire protection for passive fires. Increase in renovation and remodelling activities pertaining to growing population along with rising economic development should promote market growth.
Competitive Market Share
Global intumescent coatings industry share is highly consolidated with the presence of several manufacturers such as AkzoNobel, Sherwin-Williams, Carboline, Hempel, Jotun, Albi manufacturing and PPG. Various industry participants are engaging in strategic acquisitions to expand their product portfolio and strengthen their market position.
These products swell during heat exposure thereby decreasing density and increasing volume. They are commonly used for protecting buildings and applied to structural membranes as an aesthetically fireproofing product. Growing oil exploration sector and rising building & construction activities owing to population growth and urbanisation should fuel market growth.
Why Global Market Insights, Inc.?
- GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.
Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.
An interactive business analytics platform; designed to assist clients in accessing and analyzing market data on real-time basis.Start Your Free Trial