Intumescent Coatings Market Size Is Likely To Reach A Valuation Of $1.31 Billion By 2025: Grand View Research, Inc.

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The global intumescent coatings market is expected to reach USD 1.31 billion by 2025, according to report by Grand View Research, Inc. Increasing awareness regarding the use of fire retardants, primarily in commercial and industrial establishments is expected to emerge as the primary growth driver over the next nine years.

According to a report by Grand View Research, Inc., global intumescent coatings market is projected to value USD 1.31 billion by 2025. Growing need for innovative coatings offering advanced protection from fire can impel demand for intumescent coatings.

Rising demand for fire safety system in commercial and residential buildings can influence growth of market. Increasing use of intumescent coatings by automobile manufacturers to offer fire protection in vehicles can augment market growth. Increasing activities related to exploration of shale gas can stimulate growth of market during the forecast period (2014 to 2025).   

However, frequent fluctuations in prices of raw materials including epoxy resins can restrict growth of market during the forecast period.

The intumescent coatings market can be segmented on the basis of technology, application, end-use, and region. Based on technology, the market can be categorized into solvent based, water based, and epoxy based. In 2015, water based segment accounted for 39% of overall market share in terms of volume. Positive characteristics including fire resistance, superior finish, and faster drying are likely to impel demand for water based intumescent coatings. In addition, absence of volatile organic compounds (VOCs) in these coatings can also propel growth of segment.

Full Research Report On Intumescent Coatings Market Analysis: www.grandviewresearch.com/industry-analysis/intumescent-coatings-industry

U.S. intumescent coatings market, by end-use, 2014 – 2025 (USD Million)

U.S. intumescent coatings market, by end-use, 2014 - 2025 (USD Million)

Similarly, solvent based segment is projected to grow well over the forecast period attributed to rising demand in off-site applications. Positive characteristics of coatings including resistance from humidity and heat can stimulate growth of segment. However, properties including high VOC content and cost can restrict growth during the forecast period. 

Based on application, the market can be bifurcated into cellulosic and hydrocarbons. Cellulosic segment is predicted to contribute well to growth of market owing to increasing use of intumescent coatings in commercial and industrial buildings. Ability of these advanced coatings to protect against cellulosic fires can fuel growth. The segment is projected to witness growth at CAGR of 5% from 2016 to 2025. Strict government regulations regarding fire safety can surge demand for intumescent coatings in coming years.

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Global intumescent coatings market share, by application, 2015 (%)

Global intumescent coatings market share, by application, 2015 (%)

Similarly, increasing use of hydrocarbon intumescent coatings as fire retardant in refinery plants and oil & gas sector before operational activities can stimulate market growth.

Based on end-use, the market can be classified into automotive, oil & gas, construction, and others. In 2015, construction segment accounted for 35% of overall revenue owing to increasing use of intumescent coatings in the sector. Increasing number of construction activities in developing economies can fuel growth of segment. Growing concerns among consumers regarding personal safety can augment product demand in coming years. Moreover, stringent government regulations towards implementation fire protection solutions in commercial and residential buildings can further influence growth of segment.

On the contrary, automotive sector is likely to witness growth at CAGR of 4% from 2016 to 2025. Growing adoption of product by leading automobile manufacturers can stimulate growth of segment in coming years.

 Regional segmentation includes North America, Asia Pacific, Europe, Central & South America, and Middle East & Africa. In Asia Pacific, the market is predicted to witness significant growth during the forecast period. Fast growth of oil & gas sector in the region can fuel demand for intumescent coatings. In addition, increasing number of construction activities in emerging economies including China and India can drive product demand in coming years. In China, the market is anticipated to grow at CAGR of 6% from 2016 to 2025 owing to growth of construction sector. In addition, growth of automotive and aerospace sector in the country can further augment market growth.

In Europe, the market is anticipated to face limited grow owing to maturity of market in the region. However, growing adoption of intumescent coatings among automotive manufacturers can drive market growth. In addition, continual introduction of innovative products can further augment growth of market over the forecast period.

Some of the leading companies offering intumescent coatings are Jotun Group, Hempel Marine Paints, Null Fire, Sherwin-Williams, and Leighs Paints. The market can be characterized by presence of numerous suppliers of raw material to produce intumescent coatings. Hence, manufacturing companies can easily switch among these suppliers for their benefits.

Grand View Research has segmented the intumescent coatings market on the basis of technology, application, end-use, and region:

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

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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