Intumescent Coatings Market Is Majorly Driven By Rising Constructional Activities And Infrastructural Spending Till 2025 | Million insights
The global Intumescent Coatings Market size is expected to value at USD 1.31 billion by 2025. The market is subject to witness a substantial growth due to the growing construction activities, rapid urbanization, increasing population and growing infrastructural spending by both developing and developed economies across the globe.
Growing constructional activities such as shopping malls and business parks, particularly in the developing economies across the Asia Pacific region such as India, China, Malaysia, Thailand and Singapore are expected drive the growth of the market in the upcoming years. Globally, the intumescent coatings industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the intumescent coatings technology.
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Intumescent coating, which is commonly known as intumescent paint, is majorly used in during various construction activities for passive fire resistance. Intumescent coating is also used for structural members for an efficient fireproofing. Increasing demand for intumescent coating from building & construction industry owing to its numerous benefits such as higher durability and attractive appearances of the surfaces, thus driving the growth of intumescent coatings market in the recent years.
Additionally, intumescent coating also protects against harsh weather and external environmental factors such as ultra-violet radiation, high temperatures, acid rain and pollution particles. These factors are predicted to boost market demand for intumescent coatings during the forecast period.
The intumescent coatings industry has witnessed sharp growth on the account of increasing shale gas exploration activities which are majorly driven by the recent technological advancement in the hydraulic and horizontal drilling. Rapid growth of oil & gas industry and power generation industry is expected to favor the market expansion of intumescent coatings.
Technological advancement and development of novel products has led to addition of superior properties such as protection from moisture, corrosion resistance, bacteria and heat resistance, thus contributing to market progress, in the recent years. Growing need for environmental-friendly and waterborne due to stringent laws and regulation by regional governments across the globe are expected to boost the growth of intumescent coating market over the forecast period. Moreover, recent joint ventures, mergers and partnerships among number of major manufactures and vendors along with local industry players are anticipated to amplify market value in the upcoming years.
The intumescent coatings industry is broadly categorized into two major segments based on the application type such as cellulosic fires and hydrocarbon intumescent coatings. The cellulosic fires is considered as one of the fastest growing segment in the market of intumescent coatings with substantial revenue generation in the last few years. Growing popularity of the cellulosic fires segment is attributed to the increasing demand from industrial and commercial applications. The hydrocarbon intumescent coatings segment has also witnessed substantial growth owing to the increasing adoption of hydrocarbon coatings as a fire retardant in oil & gas exploration and refinery plants.
The industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies building & construction activities in the region, favorable laws & regulations, robust growth of oil & gas industry, and existence of well-established manufacturing infrastructure.
Asia-Pacific region is predicted to hold major market share in the intumescent coatings market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with growing constructional activities, strong economic growth, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the intumescent coating industry are PPG Industries, Inc., Sherwin-Williams Company, Akzo Nobel N.V., Nippon Paint and Valspar Co., Cabot Co., DAW SE, Jotun A/S, Masco Co., Benjamin Moore & Co., and Axalta Coating Systems Pvt., Ltd.
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Market Segment:
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
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals-and-materials
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