Intumescent Coatings Market to experience an impressive growth of 4.6% during 2020-2025
January 27, 2020
Intumescent Coatings Market is projected to grow at a healthy CAGR of 4.6% during the forecast period. Intumescent coatings are extensively used in industries, such as building & construction, industrial, and aerospace to prevent substances against heat and fire impairment. An intumescent coating plays a vital role in the event of fire by acting as a protective barrier for substrates against fire, thus providing enough time for rescue and evacuation. Rising awareness, stringent government regulations, growing importance of safety measures, and increasing demand for lightweight materials in the building & construction industry are the major factors driving the global intumescent coatings market.
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Intumescent Coatings Market Segment Insights:
By Type:
Based on the type, the market is segmented as thin-film and thick-film based intumescent coatings. The thin-film segment is projected to lead the market during the forecast period, owing to its extensive usage in the building and construction industry for passive fire protection.
By Substrate Type:
Based on the substrate type, the market is classified as structural and cast iron, wood, and others. The structural steel and cast-iron segments are expected to witness the highest growth during the forecast period, owing to the revival of the construction industry in North America and Europe, expanding construction sector in the Middle East and Asia-Pacific. Steel and cast iron are the predominant materials used in the construction industry.
By End-Use Industry Type:
Based on the end-use industry type, the market is segmented into building and construction, industrial, aerospace, and others. The building and construction industry is expected to lead the market during the forecast period, owing to the rising awareness and regulations regarding fire protection.
By Region:
In terms of regions, Asia-Pacific is likely to depict the highest growth during the forecast period. China, Malaysia, Indonesia, South Korea, Japan, and India are the growth engines of the region’s market. Economic development in the developing economies, increasing disposable income of consumers, and rising urbanization haveled to the increase in infrastructure and building & construction projects in the region, which in turn, is driving the market for intumescent coatings. North America and Europe are the other major markets with substantial growth opportunities, owing to the revival of the construction industry in these two regions after the global subprime crises and Euro debt crises.
Key Players:
Some of the key players in the global intumescent coatings market are AkzoNobel, PPG Industries, Inc. The Jotun Group, The Sherwin-Williams Company, Hempel A/S, Promat International NV, Kansai Paint Co., Ltd., Teknos Group Oy, Carboline, The 3M Company, Nullifire, Sika AG, BASF SE, Contego International, Isolatek International, GCP Applied Technologies, Intumescent Systems Ltd. (Envirograf), Albi Protective Coatings, Arabian Vermiculite Industries, Bollom, No-Burn, Inc., SKK Pte. Ltd., Demilec Inc., Monarch Industrial Products (I) Pvt Ltd., and Gangotri Hi-Tech Coatings.
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