Protection against fire coatings is made up of various fillers and flame retardants. It is utilized to keep fire flames from spreading quickly across the surface and to limit the amount of time that they're exposed to extreme heat. It also reduces the creation of gases that result from the combustion of materials. The major trends and drivers impacting the market include excellent fire performance, strength, lightweight, and cheap installed cost. Due to rigorous regulations and rising demand in end-use sectors such as automotive, electrical & electronics, oil & gas, marine, buildings and construction, aerospace and others, the fire protection coatings market is expected to develop.
COVID-19 Impact analysis
- Due to COVID-19 outbreak the market of passive fire protection coatings was negatively affected.
- The passive fire protection coatings in the industries were shut down during the COVID-19 pandemic which decreases the demand for solar panel and affected the passive fire protection coatings market.
- The global supply chain was disrupted and the demand for passive fire protection coatings decreased in many countries and affected the passive fire protection coatings market.
Top Impacting Factors
The increase in demand from end-use sectors such as transportation, building & construction and oil & gas is driving the expansion of the passive fire protection coatings market. One of the largest users of passive fire prevention coatings is the building and construction industry. Such coatings are applied so that a building's steel structure can withstand fire and avoid reaching the critical temperature at which it will collapse. These can be found in high-rise buildings, sports stadiums, and a variety of other places. The oil and gas industry is driving demand for passive fire prevention coatings in equipment protection and different offshore and onshore applications. The market for passive fire protection coatings is divided into two types: intumescent and cementitious coatings. In terms of value, intumescent coatings are the most popular type of passive fire protection coating. Polymeric materials require less maintenance, are more durable, have a longer shelf life, and help protect steel structures in buildings from corrosion. As a result of these features, intumescent coatings are predicted to expand in popularity in the passive fire protection coatings industry. The market for passive fire protection coatings is divided into solvent-based and water-based coatings based on technology. In terms of both value and volume, water-based technology is the largest technological sector in the passive fire protection coatings market. The popularity of water-based passive fire prevention coatings has grown, owing to their environmental friendliness. These are solvent-free, volatile organic compounds (VOC) free coatings that are extensively used and might be used to replace VOC-containing coatings. Infrastructure and construction, oil and gas, and marine applications all employ them.
Market Trends
- The primary markets for passive fire protection coatings are Asia-Pacific, Europe, and North America. The Asia-Pacific region's market is expected to expand.
- Because of the growing middle-class population and rising standards of living, the use of passive fire protection coatings in many industries, such as building and construction and transportation, is projected to contribute to an increase in demand for fire protection coatings.
- Because of the less stringent rules and requirements for safety and environmental compliance in China, market participants are considering relocating their production bases from North America and Europe to Asia-Pacific locations. Furthermore, low-cost labor is readily available.
- During the projected period, India is expected to be one of the fastest-growing passive fire prevention coatings markets in Asia-Pacific. The expansion is linked to the expanding building industry and increased urbanization. The Indian government's initiatives, such as Make in India, are propelling the country's building and infrastructure industries forward.
Key Benefits of the Report
- This study presents the analytical depiction of the passive fire protection coatings industry 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 passive fire protection coatings market share.
- The current market is quantitatively analyzed to highlight the passive fire protection coatings market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed passive fire protection coatings market analysis based on competitive intensity and how the competition will take shape in coming years
Passive Fire Protection Coatings Market Report Highlights
| Aspects | Details |
 By Type |
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 By Technology |
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 By End-User Industry |
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 By Region |
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 Key Market Players | Carboline Company, Teknos Group, Tremco illbruck Group GmbH, Nippon Paint Co. Ltd., Hempel A/S, Kansai Paint Co. Ltd., Akzo Nobel NV, PPG Industries Inc., No-Burn Inc., Jotun Group, The Sherwin-Williams Company, Svt Holding GmbH |
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