According to a new report ,“Intumescent Coatings Market Analysis By Technology (Water-Based, Solvent-Based, Epoxy Based), By Application (Hydrocarbons, Cellulosic), By End-Use (Construction, Oil & Gas, Automotive), By Region, And Segment Forecasts, 2018 – 2025″ published by Grand View Research, Inc., The global intumescent coatings market is expected to reach USD 1.31 billion by 2025. Increasing awareness regarding the use of fire retardants, primarily in commercial and industrial establishments is expected to emerge as the primary growth driver over the next nine years.
Key Takeaways from the report:
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Epoxy based intumescent coatings are expected to account for over 42% of the global volume in 2015, driven by high demand from oil & gas industries on account of superior properties such as low weight and minimal thickness
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The use of hydrocarbon intumescent coatings is expected to grow at a CAGR of over 4% from 2016 to 2025, driven by growing conformity of the product to the internationally accepted safety standards
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The demand for the product in automotive industry is expected to grow at a CAGR of over 5% from 2016 to 2025, spurred by use of the product in high-temperature automotive engines coupled with rising sales of such automobiles across the globe
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The market in North America was estimated at over 17% of the global volume in 2015, with rising exploration and extraction of shale gas and increasing use of the product for residential and industrial constructions emerging as the primary growth drivers
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Majority of the players in the market are integrated across the value chain with prime emphasis laid on continuous raw material supply and expansion of the distribution network. In addition, high investments in R&D serves as a major distinguishing factor for the industry
The industry is expected to grow on account of the use of passive fire protection for steel structures used in offshore and onshore extraction, purification and refining in the oil & gas industry. In addition, rising shale gas exploration coupled with oil & gas industry growth in Asia Pacific is expected to propel demand over the forecast period.
U.S. intumescent coatings market, by end-use, 2014 – 2025 (USD Million)
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Global intumescent coatings market share, by application, 2015 (%)
The industry is characterized by the presence of a large number of raw material suppliers leading to an increase in the switching ability of the manufacturers, translating into a high bargaining power. However, high price volatility of the raw materials such as epoxy resins is expected to restrain growth over the forecast period.
The global intumescent coatings market is subject to multiple regulations limiting the presence of volatile organic compounds (VOC) in the formulation. However, development of advanced products conforming to the regulations set by European Commission is expected to drive the demand for the next nine years.
Grand View Research has segmented the intumescent coatings market on the basis of technology, application, end-use, and region:
Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
- Water Based
- Solvent Based
- Epoxy Based
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
- Hydrocarbons
- Cellulosic
End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
- Construction
- Oil & Gas
- Automotive
- Others
Regional Outlook (Volume: Kilo Tons; Revenue, USD Million, 2014 – 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Spain
- Denmark
- Finland
- Italy
- Belgium
- Netherlands
- Russia
- Sweden
- Romania
- Poland
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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