MARKET ANALYSIS
The process by which an intumescent coatings creates an insulating layer on a surface, whether with or without the release of water, relies on the chemical reaction caused by heat. The intumescent coatings offers passive fire protection by limiting fire spread and shielding the underlying substrate from heat damage. The coating comprises several layers, often including a base layer, an expanding layer, and a top coat layer for protection. Intumescent coatings are commonly used in various industries, including construction, oil and gas, transportation, and industrial facilities, where fire protection is essential. They are applied to structural elements, such as steel beams, columns, walls, and ceilings, to improve fire resistance and adhere to safety regulations.
GROWTH DRIVERS AND CHALLENGES
The growth of the intumescent coatings market is influenced by several parameters, including strict fire safety laws, increasing attention to building safety, and many more. For the protection of buildings and residents, government and regulatory organizations worldwide have implemented strict fire safety regulations and construction rules to improve the fire resistance of structural materials. The enforcement of these rules drives the demand for intumescent coatings market in various industries, including construction.
In the intumescent coatings market, there still needs to be more awareness and understanding of intumescent coating advantages and applications among end users such as construction professionals, architects, and engineers. The lack of awareness limits market growth since potential consumers might choose traditional fire protection methods. Due to the specialized formation and fire resistance properties, intumescent coatings are generally more expensive than other conventional coatings. Thus, high costs may hinder intumescent coatings market growth.
REPORT SEGMENTATION AND SCOPE
The "Global Intumescent Coatings Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global intumescent coatings market with detailed market segmentation by type, end use, and geography. The global intumescent coatings market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of intumescent coatings worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the intumescent coatings market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the intumescent coatings market and their key strategic developments. Several analyses on the intumescent coatings market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global intumescent coating market in which helps understand the entire supply chain and various factors affecting the intumescent coatings market growth.
SEGMENTAL ANALYSIS
The global intumescent coatings market is segmented on the basis of type and end use. Based on type, the intumescent coating market is segmented as, water based, solvent based, and others. On the basis of end use, the intumescent coatings market is classified as, building and construction, industrial aerospace, and others.
Based on type, solvent-based intumescent coating is a specific fire-resistant coating type intended to expand and create a protective insulating layer when exposed to high temperatures. Solvent-based intumescent coatings use organic solvent as the carrier medium for the coating components such as mineral spirits, xylene, toluene, and ethylbenzene. Solvent-based intumescent coatings offer several advantages. These coatings generally dry more quickly, providing better adhesion to various substrates, including steel, concrete, and wood.
REGIONAL ANALYSIS
The report provides a detailed overview of the global with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Asia Pacific area has witnessed fast economic expansion, urbanization, and infrastructure development, which has raised the demand for multiple sectors, including manufacturing and construction. The Asia Pacific region has a strong manufacturing and industrial sector, comprising industries such as oil and gas, petrochemicals, automotive, and electronics. There is a high demand for intumescent coatings since these sectors frequently need fire prevention solutions. Countries like China, India, and others have witnessed significant urbanization and rise in infrastructure projects such as commercial buildings, residential complexes, transportation, and infrastructure, all of which require fire protection measures and contribute to the demand for intumescent coatings market.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
The market for intumescent coatings offers numerous opportunities for expansion and improvement. Many buildings and structures need retrofitting and renovation projects to meet safety requirements. Technology innovation is driven by research and development in the intumescent coatings sector. Companies are continually innovating to improve the performance, durability, and environmental sustainability of intumescent coatings.
- February 2023: PPG announced the launch of PPG STEELGUARD 951 coating, an epoxy intumescent fire protection coating designed to meet the demands of modern architectural steel, including up to three hours of cellulosic fire protection.
- October 2022: Hempel announced that its Hempafire Pro 400 passive fire protection coating has been certified according to the EN13381-8 standard and granted the CE mark, complementing the already existing BS-476 and ApplusFire certifications.
- June 2022: Hempel launched its first product for the hydrocarbon PFP segment: Hempafire XTR 100. Providing UL 1709-certified hydrocarbon passive fire protection in a lightweight coating with low dry film thicknesses, Hempafire XTR 100 offers significant safety and project benefits for customers.
IMPACT OF COVID
The COVID-19 pandemic had major effects on the intumescent coating market. The pandemic disrupted the worldwide supply network due to lockdowns, travel restrictions, and reduced manufacturing activities. As a result of this, intumescent coating manufacturing and distribution were delayed. Construction projects were postponed or abandoned due to social distancing measures and a labor shortage, which reduced intumescent coatings productivity. Resulting in the demand for intumescent coatings is consequently reduced.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the Intumescent coatings market include 3M, Akzo Nobel N.V., Carboline, HempeL A/S, Isolatek International, Jotun A/S, PPG Industries Inc, Rudolf Hensel GMBH, Stanchem, The Sherwin-Williams Company, Tor Coatings, Sika Ag, Nullifire, Jotun, BASF SE, No-Burn Inc., Tremco Illbruck among others.