Intumescent Coatings Market size is expected to exceed USD 1.25 billion by 2024: Global Market Insights, Inc.
Positive indicators towards using passive fire protection techniques required as per structural design codes should drive global intumescent coatings market size. They provide protection owing to their property of swelling at high temperature in controlled manner and are applied to structural elements which mostly loose strength during fire such as aluminum, wood and steel structures.
Construction industry, utilizing these products predicts robust growth at 4.9% CAGR generating close to USD 450 million in business by 2024. Strong outlook for increasing infrastructure spending in China, Malaysia, Indonesia and India owing favorable government policies for foreign investment and cheap labor wages should drive intumescent coatings market size. Building norms demands an upgrade in fire resistance as structural steel tend to lose its load bearing capacity under fire leading to collapse.
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Hydrocarbon intumescent coatings market size generated over USD 415 million for 2015 and significant growth is expected in the future. These are designed to protect offshore and industrial installations including pipeworks, structural steel, decks and blast walls from hydrocarbon fire effects.
Waterborne intumescent coatings market size expects significant gains throughout the forecast timeframe. Preferred due to a relatively low VoC content leading to LEED or green benefits for construction projects and safer work environment.
Key raw materials, epoxy resin, graphite and sodium silicate, find growing usage in construction and automotive industries. This factor can lead to tight raw material supply situation and can affect intumescent coatings market price trend.
Browse key industry insights spread across 160 pages with 201 market data tables & 18 figures& charts from the report, “Intumescent Coatings Market Size By Application (Cellulosic, Hydrocarbon), By Technology (Solvent Based, Water Based, Epoxy Based), By End-Use (Oil & Gas, Construction, Automotive), Regional Outlook (U.S., Germany, UK, France, Italy, Russia, Poland, China, India, Japan, Indonesia, Malaysia, Thailand, Australia, South Korea, Brazil, South Africa, Saudi Arabia, UAE), Application Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
Oil & gas industry in U.S. intumescent coatings market size expects 5.5% gains and may surpass 11.5 kilo tons of product consumption by 2024. Large scale shale gas development facilities along with rise in oil & gas exploration should drive regional industry growth.
Germany cellulosic intumescent coatings market expects to register close to USD 55 million business by 2024 with over 4% gains. Rising safety awareness along with need to make passenger vehicles safer in the event of fire accident should propel product demand in the region.
Automotive applications in Japan intumescent coatings market should witness average industry gains throughout the forecast timeframe. Necessity for thermal barrier & protection from high engine temperatures to oil tubes in the engine bay should drive regional industry growth.
Composite materials use in automobile industry for chassis manufacturing has increased fire accidents risk owing to the combustible nature of these materials. These coating on composite materials reduces substrate damage in case of fire accidents which should drive product demand for automobile applications.
Brazil intumescent coatings market size may generate over USD 30 million business by 2024 with gains at 4.7%. Increasing emphasis by regulatory bodies to implement fire protection systems in buildings to maximize human safety should boost product demand.
Global intumescent coatings market share is consolidated with over 60% of the share being occupied by the top four companies. Key industry players include Sherwin-Williams, AkzoNobel, Jotun, Hempel and Carboline. Other major players include Albi Manufacturing, Firetherm, 3M, Isolatek International and Nullifire.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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