The global intumescent coatings market size was valued at USD 888.1 million in 2017, owing to the increasing building & construction activities fueled by the fast-paced urbanization across the world. Additionally, growing awareness among consumers regarding fire protection coatings and preference for lightweight materials in building & construction have aggravated the global intumescent coatings market growth.
An intumescent coating is a protective layer that works by heat-generated chemical reactions resulting in the swelling and formation of an isolating layer on the surface with or without water release. An intumescent substance increases volume and decreases heat density. It is a passive fire retardant and fire protection that can isolate steel surfaces against further thermal attacks. Intumescent substances also protect steel surfaces against corrosion, thus, enhancing the lifespan of the structures.
The global Intumescent Coatings market worth US$ 175 million by 2031, growing at a CAGR of 4%
Intumescent coatings market trends 2018 includes ongoing research resulting in the development of advanced and efficient eco-friendly coatings which serve the purpose of promoting environmental sustainability. In August 2017, a paper was presented which discussed the development of an environmentally friendly alternative. Epoxy-based coatings with vegetable compounds (ginger powder and coffee husk) have been prepared in the intumescent system to act as a carbon source. Both vegetable compounds were used as a potential carbon source, reducing the substratum temperature compared to the blank condition. TPP (triphenylphosphine) coatings demonstrated better behavior as flame retardants and improved expansion than ZnP. The development of environment-friendly coatings can provide an avenue in opening new opportunities for the global intumescent coatings market size growth in the coming years.
Intumescent coatings market demand for hydrocarbon fires was valued at USD 422.5 million in 2017. The growth in the consumption of intumescent coatings for hydrocarbon fire protection is majorly attributed to the stringent fire safety standards for fire resistant coatings in the oil & gas industry. Hydrocarbon fires are powered and ignited by hydrocarbon compounds and spread extremely rapidly, reaching high temperatures (more than 1,000oC in less than five minutes) almost immediately after ignition, Various standards for building safety and fire protection have been implemented by several countries such as UL 263/ASTM E-119 (US), UL-1709 (US) and JIS A 1304 (Japan). The American Shipping Bureau (ABS) is another agency that provides safety standards for the marine industry that have stimulated the use of intumescent coatings across the globe.
Building & construction application is likely to emerge as the fastest growing application in the global intumescent coatings market over the forecast period, with a consumption of 44.6 kilo tons in 2017. Expansion of the building & construction industry globally due to the fast-growing urbanization is the key driving factor behind the growth of the segment. The implementation of stringent regulations for improved fire safety in buildings and the increasing emphasis on building aesthetics will also propel the growth of the global intumescent coatings market. A marked shift towards the design of public and commercial buildings by incorporating fire safety has led to an increased demand for intumescent coatings.
Asia Pacific accounted for 35.6% of the revenue share in 2017 in the global intumescent coatings market. The growth in exploration activities and increasing investments in infrastructure in economies like China and India is expected to propel the intumescent coatings market growth. Asia Pacific countries are increasing their offshore exploration and production (E&P) activities to increase domestic energy resources production and reduce their dependence on imported oil & gas. Malaysia and Indonesia are witnessing the highest exploration activity in Southeast Asia, thus, making them the largest markets for oil & gas offshore support services and pipeline services. Furthermore, the increasing need for thermal barrier and protection against the high temperature of engines in vehicles with a focus on making them safer is another key driver of the market. Increasing automotive manufacturing in the region is expected to offer growth opportunities for the intumescent coatings market during the forecast period. Rising demand for the coatings in tandem with infrastructure development is expected to propel the intumescent coatings market in the region.
The global intumescent coatings market is highly fragmented owing to the presence of a large number of global and regional players. Companies including AkzoNobel N.V, Albi Protective Coatings, Jotun, Flame Control Coatings, LLC, OMNOVA Solutions Inc., 3M, RPM International Inc., The Sherwin-Williams Company, Sika AG, PPG Industries, Inc., Isolatek International, and Nullifire have a strong presence within the global intumescent coatings market. Acquisition is one of the key strategies adopted by key players to strengthen their position in the global market. For instance, in June 2017, The Sherwin-Williams Company completed the acquisition of The Valspar Corporation. The acquisition of Valspar has accelerated the global growth strategy of Sherwin- Williams and created the world leader in painting and coating. These two companies have created a world-class brand portfolio, an expanded product portfolio, state-of-the-art technology and innovation platforms on a global scale.
Intumescent Coatings Market Scope
|Revenue forecast in 2031
|US$ 175 million
|CAGR of 4% during 2021-2031
|by Resin Type, by End-Use, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Akzo Nobel N.V.; PPG Industries, Inc; Jotun; The Sherwin-Williams Company; Hempel A/S; Etex Group; Kansai Paint Co.,Ltd.; Teknos Group; 3M; Carboline Company; CPG EUROPE; BASF SE; Contego International Inc.; Isolatek International; GCP Applied Technologies Inc.; Envirograf Passive Fire Products.; Albi Protective Coatings; Arabian vermiculite industries.; No-Burn, Inc.; Demilec (USA) Inc.; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately.
Key segments of the global intumescent coatings market
Fire Type Overview
- Building & Construction
- Oil & Gas
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- Rest of Middle East and Africa
Key Players analysed in the report include
- AkzoNobel N.V
- Albi Protective Coatings
- Flame Control Coatings, LLC
- The Sherwin-Williams Company