December 8, 2024
Intumescent coatings Market

Intumescent Coatings Industry Expected To Be Flourished By Rising Construction Activities

Intumescent coatings are advanced fire-retardant coatings containing intumescent chemicals that swell to form an insulating char on exposure to fire or heat, thereby protecting the substrate underneath. Commonly applied to steel or wood, intumescent coatings offer passive fire protection by insulating substrates from high temperatures, limiting the spread of smoke and fire. The global intumescent coatings market is witnessing a rise in demand from the oil & gas industry, as intumescent coatings are increasingly used to protect steel structures like pipelines, platforms, and tanks from fire hazards. Intumescent coatings also find widespread application in commercial, industrial, and residential constructions for fire protection of structural steel, HVAC, and piping systems.

The global Intumescent Coatings Market was valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Dynamics:

Rising construction activities across residential and commercial sectors is expected to drive the demand for intumescent coatings over the forecast period. According to the World Bank, the global construction output is set to grow at an average annual rate of 3.1% between 2021 and 2025. Stringent fire safety regulations for commercial buildings have further necessitated the use of fire-retardant intumescent coatings. Water-based intumescent coatings are gaining popularity due to their low VOC content and eco-friendly formulation. Various initiatives encouraging green buildings are fueling the shift towards sustainable coating technologies.

Segment Analysis:

Intumescent coatings can be segmented into cellulose and hydrocarbon types. Cellulose type holds the major market share as it is more durable and able to withstand extreme temperature fluctuations. It provides over four hours of protection at high temperatures upto 1200 degree celcius.

Intumescent Coatings Market Segmentation:

  • By Type
  • Cellulose
  • Hydrocarbon
  • Inorganic
  • Others
  • By Substrate
  • Steel
  • Wood
  • Concrete
  • Others
  • By End-use Industry
  • Building & Construction
  • Oil & Gas
  • Transportation
  • Others
  • By Technology
  • Water-based
  • Solvent-based
  • Powder-based
  • By Application
  • Hydrocarbons
  • Cellulosic

PEST Analysis:

Political: Coatings manufacturers receive support in terms of funding and subsidies from governments for developing green products. Stringent fire safety regulations boost demand.
Economic: Growth of construction and oil & gas industries drives market. Increasing infrastructure projects especially in Asia Pacific fuel consumption.
Social: Rising awareness about fire protection measures and importance of safety compliance positively impact market.
Technological: Developers focus on enhancing durability, flexibility and extending life of coatings. Water-based and clean-technology products see increased adoption.

Key Takeaways:

The global Intumescent Coatings Market Size is expected to witness high growth at a CAGR of 7.9% during the forecast period of 2023-2030.

Europe dominates with Germany, UK and France as major markets due to stringent fire regulations in construction industry. Asia Pacific is the fastest growing region with China, India and other Southeast Asian countries expected to boost consumption on the back of ongoing infrastructure development.

Key players operating in the intumescent coatings market are AkzoNobel, PPG Industries, Jotun, Sherwin-Williams, Hempel, BASF, Contego International, No-Burn Inc., Nullifire, Carboline, Leigh’s Paints, 3M, Rudolf Hensel GmbH, Thermakraft, Isolatek International, Flame Control Coatings LLC, Firefree Coatings Inc., Den Braven, Teknos Group, Bollom Fire Protection.

*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

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