Fire Protection Coatings Market | Growth Opportunities, Driving Factors by Type and Application, Forecast Analysis to 2023

Fire Protection Coatings Market – Overview

Apart from the rapid spread of fire flames across the surface and control the period of excessive heat the Fire Protection Coatings needs to be protected against mechanical, physical and chemical attack is the reason why we coat the Fire Protection Coatings on oil & gas, buildings and construction, automotive, aerospace, electrical & electronics and marine substrate. There are verity of demands on fire protection coatings. The demand for materials for exterior application are different to those for products for interior applications. To fulfil this demand, several types of fillers and flame additives are available. Furthermore, the application technology used depends on both the binder and the market. Improvement in sustainability, reduction of harmful substances and reduction of volatile organic compounds (VOC) are some of the general trends as per the requirement and regulations in Global Fire Protection Coating Market. The relative importance of the various trends in anti-corrosive market depends on the governmental regulations in regions and on consumer need.

The growth in the Fire Protection Coating Industry is primarily be driven by a boom in buildings and construction industry in the world and growing automotive industry in the Asia Pacific region. In addition to this, increasing spending capacity of people in turn is expected to benefits the major applications in which Fire Protection Coatings.

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Industry/ Innovation/ Related News:

June 2017 – Global Coatings Company Hempel planned to invest in a new research and development centre focused solely on passive fire protection coatings. Located just outside Barcelona in Spain, the centre is expected to open towards the end of 2018. The investment demonstrates Hempel's commitment to further developing its range of life-saving fire protection coatings as well as expanding its unique global R&D network.

April 2017 – AkzoNobel signed a new marketing and distribution agreement with Benarx Solutions AS, a Norwegian-based manufacturer of advanced insulation materials for the global oil and gas industry.

May 2015 – AkzoNobel launched a new Chartek® passive fire protection product aimed at the offshore oil and gas industry. Chartek 8E provides a significant reduction in applied weight, addressing a key customer need.

2014 – Jotun, operating in the global coatings market, announced the launch of Steelmaster 1,200 WF, a highly efficient intumescent coating providing up to 180 minutes protection against cellulosic fire for infrastructure buildings.

Fire Protection Coatings Market   - Regional Analysis

Asia Pacific region accounted largest market share in the Global Fire Protection Coatings Market and expected to dominate during the forecast period due to rising population, automotive and growing electronics industry in the region. China being largest consumer, manufacturer and exporter of fire protection coatings. Chinese manufacturers are mostly small manufacturers and some of the prominent manufacturers. India is the second largest consumer in Asia Pacific region. Several initiatives taken by Government of India will support the growth of coating industry in India. One of such initiative is 'Make in India'. This initiative is expected to foster growth in Indian Fire Protection Coating Market by allowing duty rationalization for skill development, feedstock, improving infrastructure and tax incentives for R&D investments. Approval of the GST bill is another key reform which is expected to lower logistics cost by 10-15% and create a unified market across the country. The launch of Single Window Interface for Facilitating Trade (SWIFT) by government would help importers or exporters to file a common integrated declaration, instead of 9 forms across 6 agencies. In addition to this, North America & Europe have witnessed healthy growth in Fire Protection coatings market owing to a growing non-residential repair, renovation and new construction activities in the region.

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Competitive Landscape

The report analyses the degree of competition among the industry players as well as industry growth and market scenario. The Global Fire Protection Coatings Market is at a growing stage, which represents moderate stats in terms of market value and overall volume. Over the past few years, Fire Protection coatings market has witnessed healthy demand due to increasing spending capacity of people which has stoked sales of furniture. Nevertheless, the degree of competition among the market players is still less owing to limited major market players across the globe. Globally market for Fire Protection Coatings is fragmented and it is moving towards growth expansion by specifically adopting partnership, expansion and joint-venture strategies and product launch strategies.

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