REPORT HIGHLIGHT
Intumescent Coatings Market size was valued at USD 1,200.3 Million in 2022, expanding at a CAGR of 6.2% from 2023 to 2030.
The lightest kind of passive fire protection is thought to be provided by intumescent coatings. An intumescent coating is one that, when heated, quickly undergoes sublimation, and extends up to 100 times its initial thickness to produce a stable, carbonaceous char.
Intumescent Coatings Market- Market Dynamics
Increasing demand from construction sector coupled with rise in exploration activities is to propel market demand
Strong product demand in the oil and gas industry due to strict regulations and an increase in global exploration activity are expected to fuel market expansion. Additionally, during the forecast period, demand from the construction industry is anticipated to fuel market expansion. In the oil and gas sector, intumescent coatings are used to protect offshore and onshore steel structures against fire at temperatures as high as 1,100°C. They also serve to shield structural steel from chemicals and moisture, both of which can cause the steel to become brittle. These coatings offer defense against jet and pool fires. The oil and gas business are anticipated to be fueled by rising energy demand, which will in turn propel demand throughout the projected period.
The need for intumescent coatings is also expected to be driven by rising worldwide expenditures on the upkeep and repair of platforms and equipment used in oil and gas exploration. Furthermore, rising U.S. investments in shale gas exploration are driving the market growth.
Intumescent Coatings Market- Key Insights
- As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.2% over the forecast period (2023-2030)
- Based on Type segmentation, epoxy-based segment was predicted to show maximum market share in the year 2022, owing to its high superior quality in insulation.
- Based on Application segmentation, cellulosic segment was the leading segment in 2022, mainly due to high demand from construction sector.
- Based on End-User segmentation, oil & gas segment was the leading segment in 2022, mainly due to high number of oil & gas exploration activities.
- On the basis of region, Asia Pacific was the leading revenue generator in 2022, owing to rapid urbanization and industrialization.
Intumescent Coatings Market- Segmentation Analysis:
- The Global Intumescent Coatings Market is segmented on the basis of Type, Application, End-User, and Region.
- The market is divided into three categories based on Type: water-based, solvent-based, and epoxy-based. The epoxy-based segment dominates the market. The increasing need for resilient coating from manufacturing sector is boosting segment growth.
- The market is divided into two categories based on Application: hydrocarbon and cellulosic. The cellulosic segment dominates the market and is likely to maintain its dominance during the forecast period. The cellulosic intumescent coatings are majorly used in construction industry.
- The market is divided into four categories based on End-User: automotive, oil & gas, construction, and others. The oil & gas segment dominates the market and is likely to maintain its dominance during the forecast period. The growing demand from shale gas production is augmenting the market growth.
Intumescent Coatings Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Intumescent Coatings Market- Competitive Landscape:
The market for intumescent coatings is highly competitive with intense competition among market players. By implementing strategic initiatives like global expansion, mergers and acquisitions, collaborations, and the launch of new products, market participants are concentrating on fortifying their positions. For example, the business launched a hydrocarbon passive fire protection coating, Hempafire XTR 100, in June 2022. This product has significant uses in the oil and gas sector.
Recent Developments:
In May 2023, Akzo Nivel NV launched a bisphenol-free internal coating to provide coil coaters and can makers with an alternate coating for meeting the demands of sustainable coatings.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL INTUMESCENT COATINGS MARKET KEY PLAYERS
- Akzo Nobel N.V
- Jotun
- Contego International Inc.
- Hempel A/S
- No-Burn Inc.
- Nullifire
- The Sherwin-Williams Company
- Carboline
- Albi Protective Coatings
- Isolatek International
- Rudolf Hensel GmbH
- PPG Industries, Inc.
- 3M
- Sika AG
- Others
GLOBAL INTUMESCENT COATINGS MARKET, BY TYPE
- Water-based
- Solvent-based
- Epoxy-based
GLOBAL INTUMESCENT COATINGS MARKET, BY APPLICATION
GLOBAL INTUMESCENT COATINGS MARKET, BY END-USER
- Automotive
- Oil & gas
- Construction
- Others
GLOBAL INTUMESCENT COATINGS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA