The changing dynamics in Intumescent Coatings Market with covid-19 impact assessment
June 04, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Intumescent Coatings Market.
It was estimated prior to this unanticipated outbreak that the Intumescent Coatings Market was expected to grow at a CAGR of 4.6% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Intumescent Coatings refers to a substance that reduces in density while increasing in volume when exposed to heat. The substance is very commonly used in options of fire protection.
Intumescent Coatings can be of thin films or thick films. They are used in a number of industries today such as construction, industrial, aerospace, and many others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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.
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 high 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.
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.
In terms of regions, Asia-Pacific is likely to depict high 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.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Intumescent Coatings Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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