A Look into Intumescent Coatings Industry……Deep Analysis…..



The global intumescent coatings market size was valued at USD 927.6 million in 2018 and is anticipated to progress at a CAGR of 5.1% from 2019 to 2025. High product demand in the oil & gas sector owing to stringent regulations coupled with increasing shale gas exploration activities across the globe is likely to propel the market growth. Moreover, demand from the automotive segment is expected to fuel market growth over the forecast period.
The global intumescent coatings market size is expected to reach USD 1.31 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% over the forecast period. Extensive usage of passive fire protection for steel structures used in offshore and onshore extraction and purification and refining in the oil & gas industry is the key factor boosting the market growth. In addition, rising shale gas exploration coupled with expanding oil & gas industry in Asia Pacific is expected to propel demand over the forecast period. The industry is characterized by the presence of a large number of raw material suppliers leading to an increase in the switching ability of the manufacturers and high bargaining power.
However, volatile prices of the raw materials, such as epoxy resins is expected to restrain the growth to some extent. Moreover, several regulations limiting the presence of Volatile Organic Compounds (VOCs) in the formulation will also hinder market growth. On the other hand, development of advanced products that are compliant with the regulations set by the European Commission is expected to drive the demand over the next nine years. The market in Asia Pacific witnessed a significant expansion owing to increased oil & gas exploration activities, particularly in the South China Sea. Furthermore, infrastructure development in emerging economies including India, Indonesia, and Vietnam is likely to contribute to the market development over the forecast period.
The market is fragmented in nature with the presence of a few key companies, such as AkzoNobel N.V, Jotun Group, Hempel Marine Paints, Null Fire, and Sherwin-Williams Company, and medium- and small-sized regional firms, such as Carboline; No-Burn, Inc.; and Albi Manufacturing. The market is highly competitive and the manufacturers compete on the basis of product quality and the technology used for production. They also emphasize on price differentiation as a major strategy in a bid to increase market share and follow an integrated approach to reduce costs and maximize profits.
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https://www.grandviewresearch.com/industry-analysis/intumescent-coatings-industry/request/rs4
Further key findings from the study suggest:
·         Water-based coatings is expected to be the fastest-growing technology segment of the global intumescent coatings market from 2019 to 2025
·         Oil & gas end-use segment held the largest share of the market in 2018 and is expected to continue its dominance over the forecast period
·         Asia Pacific was the largest market in 2018 and is projected to expand further at the highest CAGR during the forecast years
·         Cellulosic is projected to be the largest, as well as the fastest-growing, application segment over the next few years
Increasing investments for shale gas exploration in U.S. is also likely to propel the product demand over the next nine years. Introduction of advanced thin film, light-weight intumescent coatings is expected to drive the demand further. The industry exhibits low threat of substitution by alternatives, such as vermiculite fire protection, on account of superior properties of the intumescent coatings. Increased awareness about fireproofing of residential buildings is likely to impel market growth over the forecast period.
Rapidly expanding construction sector and large-scale infrastructure developments in developing economies, such as India and Indonesia, are expected to have a positive impact on the product demand. Intumescent coatings have a high potential on account of its properties, such as durability and aesthetic appeal, which make them ideally suited for automotive and construction applications. However, volatility in the prices of raw materials is expected to restrain product demand to some extent.
Based on technology, the market has been segmented into water-, solvent-, and epoxy-based coatings. Water-based is expected to be the fastest-growing technology segment from 2019 to 2025. Stringent regulations about using fire protection in buildings are likely to boost the product demand. Regulations prohibiting the use of VOC paints for interior applications owing to higher toxicity and environmental impact are expected to boost the demand for water-based products. Solvent-based coatings are also anticipated to witness high demand in the coming years. These coatings are used in off-site applications in areas of low heat and high humidity to achieve decorative finish over complex shapes and for improved adhesion and high water resistance.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-intumescent-coatings-market
Grand View Research has segmented the global intumescent coatings market on the basis of technology, application, end use, and region:
Intumescent Coatings Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·         Water-based
·         Solvent-based
·         Epoxy-based
Intumescent Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·         Hydrocarbons
·         Cellulosic
Intumescent Coatings End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·         Oil & Gas
·         Construction
·         Automotive
·         Others
On the basis of application, the market has been segmented into hydrocarbons and cellulosic. Hydrocarbons is expected to be the fastest-growing segment over the forecast period. Increasing use of hydrocarbon intumescent coatings in industries including oil & gas and energy is likely to drive the product demand. Rapid acceptance of international standards for testing and certification of these products in the offshore market worldwide is also expected to propel the segment growth. Furthermore, high product demand in the construction industry, particularly in industrial and commercial buildings, coupled with increasing oil & gas explorations across the globe will contribute to the segment development.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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