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MA20116190 |
Pages: 290 |
Oct 2023 |
Intumescent Coatings Overview
The intumescent coating can be described as the protective coating layer used to insulate fire-exposed steel substrates. Intumescent coating demand is directly proportional to the demands of the construction industry. Fire prevention, retarding and window casings for coastal buildings, marine and offshore installations, aircraft as well as ships are the key applications of intumescent coating. The necessity to protect assets from fire-related catastrophes and the greater knowledge of fire safety rules have led to a major expansion in the market for intumescent coatings over the years.
Global Intumescent Coatings Market Analysis
The global intumescent coatings market size was $1.2 billion in 2022 and is predicted to grow at a CAGR of 5.5%, by generating a revenue of $2.0 billion by 2032.
COVID-19 Impact on Global Intumescent Coatings Market
The intumescent coatings market was significantly impacted by the COVID-19 epidemic. Buildings, infrastructure, and industrial facilities need intumescent coatings to provide passive fire protection because they expand in hot temperatures to create a fire-resistant barrier. However, due to lockdowns, travel restrictions, and labor scarcity during the epidemic, construction activities were significantly affected, which caused a standstill in new construction projects. As a result of the suspension or delay of construction and remodeling projects, the demand for intumescent coatings decreased. Disruptions in supply chains and transportation also made the problem worse by making it harder to get raw materials and deliver finished goods to customers.
On the positive side, the pandemic’s enhanced attention to cleanliness and safety did open up some opportunities for the intumescent coatings market in industries like healthcare facilities and data centres, where fire prevention remained a top priority. These improvements, however, were insufficient to make up for the pandemic's overall detrimental effects on the market.
Boom in the Construction Activities across the Globe to Drive the Market Growth
The demand for intumescent coatings has been boosted by the strict fire safety rules and building norms implemented by governments and regulatory organizations across numerous industries. When exposed to high temperatures, these coatings expand and provide an insulating layer that effectively slows the spread of fire and safeguards structural integrity, providing passive fire protection. Besides, the market has grown as a result of the boom in construction activity, notably in the commercial and industrial sectors. The necessity for efficient fire prevention measures in buildings, bridges, tunnels, and other structures has increased as urbanization continues to drive infrastructure expansion, which has boosted the adoption of intumescent coatings. Moreover, a growing preference for intumescent coatings over traditional fireproofing techniques is a result of increased consumer and industry awareness of the significance of fire safety. Numerous benefits, such as simplicity in application, low maintenance requirements, and aesthetics, have contributed to the market expansion of these coatings.
High Costs to Restrain the Market Growth
The high price of intumescent coatings in comparison to traditional fire prevention materials is the major restricting factor. These coatings may not be adopted by industries and consumers on a tight budget, especially in areas where cost-effectiveness is a major factor in decision-making. In addition, applying intumescent coatings can be challenging and complicated, requiring specialized knowledge, sophisticated tools, and exacting surface preparation. Because of this, the installation costs may rise even more, which may reduce the overall appeal of these coatings, especially for small-scale projects or firms with limited resources. Additionally, the performance of intumescent coatings is greatly influenced by the surrounding environment as well as the presence of other pollutants or chemicals. The effectiveness of these coatings may be damaged in severe circumstances, such as high humidity or exposure to specific chemicals, raising questions about their dependability in practical situations.
Advancements in Technology to Drive Excellent Opportunities
Technology has made incredible strides in the intumescent coatings market, revolutionizing how fire protection is treated across a range of sectors and applications. Specialized paints called intumescent coatings expand at high temperatures, creating an insulating layer that shields beneath structures from fire's destructive effects. Historically, these coatings have been used to passively guard against fire on structural steel structures. The creation of more effective and environmentally acceptable intumescent coating formulas is a significant technological accomplishment. To go by the increasingly strict environmental requirements, manufacturers have concentrated on developing coatings with lower volatile organic compounds (VOCs) and harmful components. In addition to addressing the increased need for environmentally friendly and sustainable solutions in the construction and industrial sectors, this has also enhanced the safety and health conditions of the personnel applying the coatings. Additionally, developments in nanotechnology have produced nano-intumescent coatings, which have improved fire prevention capabilities. The potential applications of intumescent coatings across numerous industries have increased as a result of their adaptability, including aerospace, transportation, and electronics.
Global Intumescent Coatings Market Share, by Type, 2022
The epoxy-based sub-segment accounted for the highest market share in 2022. Epoxy-based intumescent coatings are quite important in offering efficient fire prevention solutions. When exposed to high temperatures, intumescent coatings are specifically engineered to expand and form a protective char layer, insulating the underlying substrate and halting the spread of fire. Epoxy-based intumescent coatings are highly preferred because of their superior adhesive qualities, longevity, and resilience to various environmental variables. In industrial and construction situations, where fire safety is crucial, these coatings are frequently employed. Some of the main uses for epoxy-based intumescent coatings are buildings, oil & gas facilities, transportation infrastructure, and electrical enclosures. Additionally, they are adaptable and ideal for a variety of fireproofing requirements due to their ability to cling to a wide range of substrates, including steel, concrete, and wood. The need for dependable fire protection options like epoxy-based intumescent coatings is growing as safety rules become stricter across industries.
Global Intumescent Coatings Market Share, by Application, 2022
The cellulosic sub-segment accounted for the highest market share in 2022. Cellulosic coatings are one of the major groups of intumescent coatings, and they play a considerable role in the global intumescent coatings market. When subjected to high temperatures, intumescent coatings, a particular kind of fire-resistant coating, expand and generate a protective char, protecting structural materials like steel and wood from passive fire spread. By forming an insulating barrier, this expansion slows the propagation of flames and the transfer of heat. The ability of cellulosic to protect wood and wood-derived products like plywood and oriented strand board (OSB) makes it of particular significance. Given that they react and expand at lower temperatures than coatings made for steel or other materials, cellulosic intumescent coatings are created to specifically address the fire protection requirements of wood-based substrates. These coatings assist to strengthen the fire safety of structures and prolong their structural integrity during a fire incident by providing an efficient fire-retardant layer on wooden surfaces. The sub-segment's huge growth is anticipated to increase as safety requirements and awareness of fire protection measures continue to grow across a variety of industries, including building and infrastructure.
Global Intumescent Coatings Market Share, by End User, 2022
The oil & gas sub-segment accounted for the highest market share in 2022. Effective fire protection measures are essential in the setting of the oil and gas business, where fire threats are a continual worry due to the presence of flammable materials and high-temperature activities. In the oil and gas industry, intumescent coatings are widely used in a variety of applications. Additionally, the oil and gas business frequently operate in difficult conditions, such as petrochemical processing facilities and offshore drilling platforms. The need for intumescent coatings has been fueled by the oil and gas industry's ongoing expansion, strict safety standards, and a greater focus on asset protection.
Global Intumescent Coatings Market Share, by Region, 2022
The Asia-Pacific intumescent coatings market generated the highest revenue in 2022. In recent years, the Asia-Pacific region, which includes nations like China, India, Japan, South Korea, Australia, and others, has experienced significant urbanization and industrialization. Due to this expansion, there is now a greater need for the construction of public infrastructure, industrial facilities, and commercial buildings. There has been an increase in demand for fire-resistant solutions in the construction and manufacturing sectors throughout the region as a result of stronger safety standards and increased knowledge of fire safety measures. Besides, the region is also home to numerous manufacturing sectors, including the automobile, aerospace, and electronics industries, which need fire-resistant coatings for their goods and facilities. Numerous major competitors in the intumescent coatings market have expanded their operations and made R&D investments to provide cutting-edge solutions suited to regional needs as a result of the presence of a sizable customer base and a thriving building industry in this region.
Competitive Scenario in the Global Intumescent Coatings Market
Investment and agreement are common strategies followed by major market players. For instance, in March 2021, Akzo Nobel and QLayers worked together to purchase a stake in the business' industrial coatings. portfolio, a component of the former's collaborative innovation ecosystem called Paint the Future.
Some of the leading intumescent coatings market players are Akzo Nobel N.V., Jotun, Contego International Inc., Hempel A/S, No-Burn Inc., Nullifire, The Sherwin-Williams Company, Carboline, Albi Protective Coatings, and Isolatek International.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2022 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Type |
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| Segmentation by Application |
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Segmentation by End User
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| Key Companies Profiled |
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