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Global Cellulosic Fire Protection Intumescent Coating Market Overview Covering Forecast Market Size And Growth Rate 2033
Cellulosic Fire Protection Intumescent Coating Global Market Report 2024
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According to The Business Research Company's, The cellulosic fire protection intumescent coating market size has grown strongly in recent years. It will grow from $0.58 billion in 2023 to $0.61 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to building safety regulations, construction industry growth, increased fire incidents, urbanization and high-rise buildings, and infrastructure development.
The cellulosic fire protection intumescent coating market size is expected to see strong growth in the next few years. It will grow to $0.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to energy efficiency, infrastructure resilience, growing smart buildings, evolving construction materials, and increasing industrial applications. Major trends in the forecast period include advancements in coating technology, technological advancements, advanced intumescent technologies, smart fire safety systems, and the integration of fire-resistant materials in building designs.
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Market Drivers and Trends:
The growing building & construction industry supported by increasing urbanization is expected to propel the growth of the cellulosic fire protection intumescent coatings market. These coatings provide fire safety, temperature, and corrosion resistance in both residential and commercial structures. For instance, the residential building construction market is expected to increase from $3489.4 billion in 2020 to $5193.7 billion by 2025. The growing residential and non-residential building constructions across the globe are anticipated to increase the demand for cellulosic fire protection intumescent coatings in the near future.
The introduction of new and advanced products is shaping the cellulosic fire protection intumescent coatings market. Industry players are investing in developing coatings that require a lesser number of applications of coats and provide enhanced safety. For instance, In April 2022, Jotun, a Norway-based chemicals company launched SteelMaster 1200HPE, a high-performance epoxy intumescent coating that offers infrastructure buildings protection from cellulosic fires for up to 120 minutes. It is the perfect intumescent product for off-site application, enabling a quicker construction phase. As multiple coats can be applied in a single shift without any turnaround times and constructability is significantly increased, it helps our customers save time and money on projects.
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Major Key Players of the Market:
AkzoNobel N.V, The Sherwin-Williams Company, PPG Industries Inc., Jotun AS, Hempel A/S, Contego International Inc., No-Burn Inc., Nullifire Ltd., Carboline Company, Albi Protective Coatings, Isolatek International Ltd., Rudolf Hensel GmbH, 3M Company, Sika AG, Tor Coatings Ltd., Kansai Paints Co. Ltd., ETEX Group Ltd., RPM International Inc., Teknos Group And Paints Private Limited, Leighs Paints Ltd., Sherwin-Williams Protective & Marine Coatings, Firetherm Intumescent & Insulation Supplies Ltd., Albi Manufacturing Ltd., Demilec Inc., GCP Applied Technologies Inc., Firefree Coatings Inc., International Paint Ltd., Contego International Inc., A/D Fire Protection Systems Inc., Crown Paints Ltd.
Cellulosic Fire Protection Intumescent Coating Market 2024 Key Insights:
• The cellulosic fire protection intumescent coating market size is expected to see strong growth in the next few years. It will grow to $0.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• Building For The Future Urbanization Drives Growth In The Cellulosic Fire Protection Intumescent Coatings Marke
• Advancing Fire Safety Innovative Products Reshape The Cellulosic Fire Protection Intumescent Coatings Market
• North America was the largest region in the cellulosic fire protection intumescent coating market in 2023
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