The Intumescent coatings market is projected to grow at a CAGR of 5.46%over the forecast period of 2017-2023. Intumescent Coatings provide passive fire protection as they can withstand temperatures up to 600 degree Celsius and are aesthetically pleasing at the same time. This is significantly boosting the demand for intumescent coating. Stringent government regulations and precautions relating to fire accidents and damages along with the growing need for lightweight materials for construction and aerospace industry are also augmenting the demand for Intumescent Coatings. However, rising demand for cementitious coating and the fluctuations in the price of intumescent coatings are restraining the growth of intumescent coatings market.
By end-user industry, the intumescent coatings market is segmented as infrastructure, aerospace, oil and gas, and chemicals among others. The infrastructure industry held a significant market share in 2017 as various governments are pushing for more strict safety regulations, thereby boosting the demand for intumescent coatings for their use in steel beams and other materials used in the construction industry. Since the intumescent coating is a lightweight solution to fire prevention, it is also used in the aerospace industry to prevent vehicles from engine combustion damages. Rising expenditure in the aerospace industry will, thus, boost the demand for intumescent coatings over the forecast period.
By substrate, structural steel holds the substantial market share as intumescent coatings are used for coating steel beams used in construction industry. Steel beams are especially required to be coated to reduce the risk of a fire hazard. An intumescent coating is also used for wooden objects to prevent them from combusting. With the growing need for wooden furniture and items, the demand for timber substrate will escalate during the forecast period.
By Geography, the Asia-Pacific market might see a substantial rise owing to rising construction expenditure in developing economics such as China and India, propelling the demand for intumescent coating. The Middle East and African region is also expected to grow at a significant rate on account of high requirement of intumescent coating for construction and industrial use.
The Intumescent Coatings market has been analyzed through the following segments:
Thin-Film Intumescent Coating
Thick-Film Intumescent Coating
By End-User Industry
Oil and Gas
The Middle East and Africa
United Arab Emirates
Key insights offered
What will be the Intumescent Coating market size from 2017 to 2023?
How are the major drivers and restraints affecting the Intumescent Coating market growth and the opportunities which exist for key vendors?
Which segment will impact the growth of the market the most and why?
A complete analysis of all the key market players.
Impact of the strategies taken up by key players in the market and how it affects the growth and competition in the market.