The Global Intumescent Coatings Market - Trends, COVID-19 impact and Forecast (2021-2025)
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
An intumescent is a substance that swells on exposure to heat, thus increasing in density. It is a layer of protective substance which works by chemical reaction triggered by heat resulting of an insulating layer without the release of water
They are widely used fire protection in various end industries such as automotive, oil & gas, and construction. For instance, in 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.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the increasing investments in shale gas exploration and rising demand for cellulosic intumescent coatings from construction industry are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future
Table of Contents
Market Overview
The Global Intumescent coatings market is expected to grow to $ 1,412.70 million by 2025.
Growth momentum is expected to accelerate during the forecast period with 4.75% CAGR.
Increased awareness about the fireproofing of residential buildings is elevating the demand for the market in future.
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
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.
Increase in remodeling and renovation activity in China, Japan and India owing to economic development will promote market growth.
Key Market Players
The market is dominated by global vendors such as The Sherwin Williams Company, Akzo Nobel, Contego International, No-Burn, PPG Industries, Jotun.
The key players are rigorously competing and offering custom solutions for high-performance low-cost intumescent coating requirements.
Market players are focusing on strengthening their positions by adopting strategic initiatives, such as geographical expansion, mergers & acquisitions, and partnerships.
Growth Drivers and Challenges
The rising investment in various construction and infrastructure projects across the globe is driving the market. Global construction industry is growing at a faster pace with a major contribution from emerging countries
Increased global investments in the maintenance and repair in oil & gas industry.
Volatility in the prices of raw materials is expected to restrain product demand to some extent.
Stringent norms against high VOC content coatings.
Use of low cost alternatives and lack of awareness in developing economies