During the projection period, it is anticipated that the market for intumescent coatings will grow at a CAGR of more than 4.6%. (2022-2028).
The market was adversely affected by the COVID-19 pandemic. The market is, nevertheless, approaching pre-pandemic levels and is anticipated to increase steadily over the course of the projected period.
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The expansion of the market under study is being aided by rising building activities in Asia-growing Pacific’s economies and a rise in oil and gas exploration operations.
The market’s potential expansion would likely be hampered by rising raw material prices.
The market is expected to benefit in the future from rising shale gas production.
Scope of the Report:
By blocking the oxygen required for combustion, the intumescent coating layer swells and creates a “char,” which protects the material inside from flames. Intumescent is utilised as a coating material to shield objects from heat and fire damage because of these qualities. Application, end-user industry, and geographic segments are used to categorise the intumescent coatings market. The market size and forecast for intumescent coatings in 16 countries across key geographical areas are also covered in the report. The market sizing and forecasting for each segment have been done using revenue (USD million).
The market’s market leader in 2021, epoxy-based technology accounted for more than 61.0% of global revenue. In the case of a fire, epoxy-based intumescent coatings display greater passive fire protection by acting as an insulation barrier. When exposed to high temperatures, these coatings generate a thick layer of char that increases the level of insulation in the case of a fire even if they are inert at ambient temperature.
In locations with low temperatures and high humidity, solvent-based intumescent coatings are typically used in offshore oil and gas applications. Compared to water-based coatings, they can be applied to wide surface areas with a high thickness. Additionally, decorative finishes are applied to complex structures using solvent-based intumescent coatings, which have enhanced adhesion and have a high water resistance. The expansion of the solvent-based intumescent coating market is anticipated to be negatively impacted by high cost and high VOC content.
It also examines present trends and projections for the future. The research study also examines cellulosic and hydrocarbon intumescent coatings for the construction and O&G industries, respectively. For these product categories, market projections and competitive trends are also covered. Due to the rise in rig construction, significant exploratory activity in the offshore oil and gas sector is fueling this market’s expansion. Compared to advanced nations, the civil construction sector in emerging regions continues to be robust.
The region’s demand for intumescent coatings is expected to increase as a result of factors like the presence of numerous end users, close proximity to raw material suppliers, and rising industrialisation and urbanisation, particularly in China and India. The region’s end-use industries, including construction, automotive, marine, and others, have a lot of room to grow thanks to the region’s abundant raw materials and less strict VOC emission standards than those in North America and Europe.
Low labour costs in the developing countries of the Asia-Pacific area have drawn a number of foreign investors to locate their manufacturing operations there. As a result, the expansion of manufacturing facilities is likely to increase regional construction activity, which will in turn fuel demand for intumescent coatings during the course of the projection period.
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Intumescent Coatings Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa