The Global Intumescent Coatings Market- Trends, COVID-19 impact and Forecast (2021-2025)
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The intumescent coatings market is segmented by Technology (epoxy-based, solvent-based, and water-based);Application (cellulosic and hydrocarbons); End-user (oil and gas, construction and Others); Geography (APAC, North America, Europe and ROW).
Introduction
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An intumescent is a substance that swells on exposure to heat, thus increasing in density. It is a layer of a protective substance that works by a chemical reaction triggered by heat resulting in an insulating layer without the release of water
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They have widely used fire protection in various end industries such as automotive, oil & gas, and construction. For instance, in the oil and gas industry, it is used to provide fire protection to onshore and offshore steel structures at high temperatures of 1,100°C and above.
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Despite the current pandemic situation, the end-users of this market are recovering to operate in full capacities from 2021 beginning.
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Along with this, the increasing investments in shale gas exploration and rising demand for cellulosic intumescent coatings from the construction industry are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future
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Market Segmentation
Technology
Epoxy-based
Solvent-based
Water-based
Application
Cellulosic
Hydrocarbon
End-user
Oil and Gas
Construction
Others
Geography
APAC
North America
Europe
ROW.
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Table of Contents
1. Executive Summary
2. Scope of the report
3. Research Methodology
4. Introduction
4.1 Parent Market/ TAM
4.2 Market outline
4.3 Market segmentation
5. Five Force analysis
6. Market Sizing
7. Market Segmentation
8. Geographical Landscape
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8.1 APAC
8.2 North America
8.3 Europe
8.4 ROW
9. Growth Drivers
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9.1 Increasing preference for lightweight materials in the building & construction industry
9.2 Increased global investments in the maintenance and repair of oil & gas industry
10. Key Market Trends
11. Impact of Covid-19
12. Challenges
13. Customer Insights analysis
14. Major Market Players
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14.1 The Sherwin Williams Company
14.2 Akzo Nobel
14.3 Contego International
14.4 Jotun
14.5Hempel
14.6 No-Burn
14.7 PPG Industries
14.8 Nullifire
14.9 Carboline
15. Recent Developments
16. Future Scope
17. Strategic Recommendations
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Market Overview
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The global Intumescent coatings market is expected to grow to $ 1,412.70 million by 2025
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Growth momentum is expected to accelerate during the forecast period with a 4.75% CAGR
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Increased awareness about the fireproofing of residential buildings is elevating the demand for the market in future
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APAC is forecasted to remain as largest consumer for this market due to the proximity to raw material suppliers, presence of numerous end-users, and rapid industrialization and urbanization activities
Key Trends
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Development in nanotechnology in coatings will impact the market positively. Nanostructured materials yield significant differences in rates and control of chemical reactions, magnetic properties, thermal conductivity, electrical conductivity, strength, and fire-retardant properties.
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An increase in remodeling and renovation activity in China, Japan, and India owing to economic development will promote market growth.heli
Key Vendor Analysis
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The market is dominated by global vendors such as The Sherwin Williams Company, Akzo Nobel, Contego International, No-Burn, PPG Industries, Jotun
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The key players are rigorously competing and offering custom solutions for high-performance low-cost intumescent coating requirements.
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Market players are focusing on strengthening their positions by adopting strategic initiatives, such as geographical expansion, mergers & acquisitions, and partnerships
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Growth Drivers and Challenges
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The rising investment in various construction and infrastructure projects across the globe is driving the market. The global construction industry is growing at a faster pace with a major contribution from emerging countries
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Increased global investments in the maintenance and repair in oil & gas industry.
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Volatility in the prices of raw materials is expected to restrain product demand to some extent.
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Stringent norms against high VOC content coatings.
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Use of low cost alternatives and lack of awareness in developing economies