Intumescent Coatings Market Analysis
Intumescent coating, often known as intumescent paint, is a paint-like coating used in buildings and structures as an external fire-resistance measure. It is applied for fire proofing product to structures, which look aesthetically pleasing as well. It is also used to cover up any electrical openings to prevent them from catching fire. When exposed to high temperature, the intumescent coating swells up forms a black insulating material, which is known as char. Furthermore, char has low thermal conductivity and acts as an insulating material.
- The emergence of the current pandemic situation has adversely affected the industry growth.
- Only essential goods and services are allowed to be operational. This has resulted in the non-functionality of the construction industry.
- The intumescent coatings market has witnessed a downfall in the market growth as the product has major applications in the construction industry. Other applications in industries, such as oil & gas and mining, have also led to the reduction in the market growth as these industries have been facing the brunt of the lockdown and are non-operational as well.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis:
Intumescent coatings are fire-resistant and also look aesthetically pleasing. This significantly increases the demand for intumescent coatings. Growing concern regarding fire safety in commercial and residential settings is another factor, which drives the intumescent coatings market growth. It is essential to make arrangements at the commercial or residential settings to prevent fire. In addition, its lightweight attribute is expected to increase its demand in aerospace, building, construction, automotive, and other sectors. Stringent government regulations regarding fire protection measures in the commercial as well as residential settings, which are cost-efficient, to prevent any damage to the human life and property are also expected to increase the demand for intumescent coatings. Increased demand for crude oil and its derivatives in the petrochemical and automotive industry results in increased exploration in the oil & gas sector. This is expected to lead to the high demand for intumescent coatings. In addition, increase in shale gas exploration activities and investments in shale gas exploration also help to increase the demand for intumescent coatings. Significant growth of the automobile and the aerospace industries also fuel the market growth of intumescent coatings. Developing countries focus to improve the construction and infrastructures, which in turn, contributes to the demand for intumescent coatings. However, the tendency of fluctuating costs of intumescent coatings may hinder the market growth.
On the basis of technology, water-based coatings are expected to witness growth in the market, owing to the need for non-toxic coatings with low environmental impact. On the basis of application, hydrocarbons are expected to grow in terms of market share. This is due to the increasing oil & gas exploration and mining activities, which are expected to escalate the demand for the product.
A key trend observed is the investment of finance and time in R&D for sustainability safety by the industry leaders. This also drives the growth of the intumescent coatings market. In December 2018, Hempel Marine Paints launched a product passive fire protection coating, Hempafire Pro 315 to safeguard steel structures from fire accidents. This coating showcases advanced attributes such as improved efficiency and fast drying.
On the basis of region, North America is predicted to witness major growth in the intumescent coatings market due to increased construction and renovation activities in the region. Majority of the residential structures in this region are made up of wood or materials, which can easily catch fire. Government’s strict regulation regarding fire safety is expected to contribute to the market growth of intumescent coatings in this region. Following North America, Asia-Pacific countries are expected to witness high market growth, owing to rise in construction and infrastructure activities. In addition, rapid increase in industrialization, urbanization, & modernization and changing lifestyles of consumers & their perception toward fire safety are also estimated to escalate the demand for intumescent coatings in the APAC region.
Key benefits of the report:
- This study presents the analytical depiction of the intumescent coatings market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the intumescent coatings market share.
- The current market is quantitatively analyzed to highlight the intumescent coatings market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the intumescent coatings market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Intumescent Coatings Market Report Highlights
By Industry Vertical
Key Market Players
Hempel Marine Paints, AkzoNobel, Contego International, Sika AG, PPG Industries, No–Burn, Inc, 3M Company, Crown Paints Ltd., Carboline, Isolatek International, Flame Control Coatings, Rudolf Hensel GmbH, Nullifire, Bollom Fire Protection, Sherwin-Williams, Firetherm, Albi Manufacturing, Jotun Group