Intumescent Coating Market: Asia Pacific to Remain at the Forefront Owing to Rapid Industrialization

The global intumescent coating market is likely to gain traction from its ever-increasing usage in fire protection. It is often applied to substrates, such as iron, wood, steel. In standardized fire tests, the coatings for steel application must be thoroughly checked and approved in terms of the guidelines compiled by the international standardization agencies. The governments of various countries worldwide are implementing stringent laws regarding fire and safety. It is set to affect the market positively. Fortune Business Insights™ published this information in an upcoming report, titled, "Intumescent Coating Market Size, Share & Industry Analysis, By Type (Thin-film, Thick-film), By End-use Industry (Aerospace, Oil & Gas, Building & Construction), Others, and Regional Forecast, 2022-2029"

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Highlights of the Report:

In-depth analysis of the intumescent coating market trends, growth drivers, and obstacles.
Extensive information about the competitive landscape including collaborations, partnerships, investments, mergers & acquisitions, novel product launches, and R&D.
Details of the upcoming opportunities and challenges that the market may come across.
Profiles of every possible key company operating in the market and their procured revenue.
Drivers & Restraints-

Increasing Awareness Regarding Fire Safety to Drive Growth

A major factor that is likely to propel the intumescent coating market growth is the surging number of awareness campaigns regarding fire safety. Apart from that, the governments worldwide are putting forward numerous fire safety standards, codes, and rules. It would also contribute to the growth of the market during the forecast period. However, the intumescent coatings are expensive in nature. Therefore, people are gradually inclining towards cost-effective techniques of fire protection. Cementitious coatings are considered to be cheaper than intumescent coatings. But, they are not that efficient or reliable as compared to intumescent coatings. It may hamper the market growth.

Regional Analysis-

Asia Pacific to Remain at the Forefront Owing to Rapid Industrialization

The market is geographically divided into the Middle East & Africa, Europe, Latin America, North America, and Asia Pacific. Amongst these regions, Asia Pacific is anticipated to generate the largest intumescent coating market revenue in the coming years. This growth is attributable to the increasing number of construction activities, as well as rapid industrialization in this region. The developing nations, namely, Indonesia, India, and China are set to be the major contributors to growth.

Europe and North America, on the other hand, are projected to showcase considerable growth owing to the imposition of stringent laws imposed by the governments regarding fire safety. The Middle East & Africa would exhibit good growth backed by the rising number of gas and oil exploration activities. Lastly, in Latin America, the market is likely to grow significantly stoked by the rising construction activities.

Competitive Landscape-

Key Companies Focus on Acquisitions & Investments to Strengthen Position

The market consists of a large number of small, medium, and big companies that are persistently striving to strengthen their position. Also, they are trying to gain the maximum intumescent coating market share by adopting strategies, such as investments in opening new production facilities and acquisitions. Below are two of the key industry developments:

May 2017: AkzoNobel, a paints and coatings company headquartered in Amsterdam announced the opening of its brand new performance coatings production facility. It is situated in the Chonburi province in Thailand. The company's main aim is to meet the expected and the current production demand in the country. The facility was constructed by investing €31 million.
July 2017: PPG, a supplier of paints, coatings, and specialty materials based in the U.S., successfully acquired The Crown Group, a coatings application services business headquartered in the U.S. This acquisition would boost the former's ability to serve its original equipment manufacturer (OEM) consumers better.
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Fortune Business Insights™ provides a list of all the organizations present in the intumescent coating market. They are as follows:

Contengo International Inc.
PPG
GCP Applied Technologies Inc.
Jotun
Flame Control Coatings
Nippon Paint
Demilec U.S.A. Inc.
AkzoNobel
Isolatek
Carboline
Sherwin-Williams
Alibi Protective Coating
Sika
Other key market players

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This release was published on openPR.