Global Fire Protection Coating Market - 2024-2031

Overview

Global Fire Protection Coating Market reached US$ 830.7 million in 2023 and is expected to reach US$ 1,128.2 million by 2031, growing with a CAGR of 3.9% during the forecast period 2024-2031.

The global fire protection coating market is steadily growing, owing to increased awareness of fire safety measures, stringent construction requirements and an increase in fire-related events across numerous industries.

Ongoing advances in materials science and technology have resulted in the development of increasingly effective and inventive fire prevention coatings. These coatings provide improved fire resistance while remaining ecologically benign and cost-effective. The advent of such sophisticated coatings has boosted demand in the North American marketplace.

For instance, a group of scientists from American colleges has developed a silicon-based coating that can assist curb the spread of fires by preventing items from coming into touch with flames. The coating was designed to delay the spread of the fire by reducing the amount of combustion that erupts at the molecular level as fires begin to spread. Therefore, the recent developments in U.S. contribute significantly to the growth of the North American market capturing more than 3/4th of the market share.

Dynamics

Growing demand in Construction Industries

The construction industry generates a significant portion of the market for fire prevention coatings. As urbanization increases and infrastructure projects multiply around the world, there is a greater emphasis on building buildings and structures with suitable fire safety systems.

For instance, high-rise buildings, commercial complexes, airports and residential buildings all require fire protection coatings to comply with safety requirements and laws. These coatings protect structural materials such as steel and concrete against fire damage. As a result, the demand for fire protection coatings in the construction industry is directly proportional to the global increase in infrastructure projects.

Innovative Product Expansion

The introduction of new products may allow fire protection coatings to be used in previously undiscovered applications. Manufacturers may launch coatings intended especially for specialized markets or developing industries where fire safety regulations are changing. The requirement for improved fire safety in the modern architectural steel industry was met by the introduction of new product coating. These innovations drive market growth and adoption by meeting specific industry requirements.

In February 2023, the demands of contemporary architectural steel were addressed by PPG with the introduction of PPG STEELGUARD 951 coating, an epoxy intumescent fire protection coating that offers up to three hours of cellulosic fire protection.

Stringent Regulations and Compliance Challenges

For fire protection coatings, meeting strict regulatory standards frequently means completing significant testing, certification and compliance documentation. Manufacturers spend additional costs as a result of these processes, including costs for testing, research and development and administrative costs related to regulatory compliance. Higher costs for fire protection coatings could result from the additional financial strain, turning off prospective consumers, especially in price-sensitive sectors.

By establishing rigid performance objectives and testing standards for fire prevention coatings, stringent restrictions can hinder innovation. Although rules are necessary for ensuring quality and safety, too restrictive specifications can hinder innovation by restricting producers' ability to create and market novel technologies.

Segment Analysis

The global fire protection coating market is segmented based on type, end-user and region.

Innovative Advancements in Passive Fire Protection Coatings

Innovative product launches promote competitiveness and continued innovation in the fire protection coatings sector. Manufacturers seek to set themselves apart by developing coatings with novel features, benefits or technologies. This competitive climate promotes a cycle of innovation, resulting in the development of more advanced passive fire protection coatings that push the limits of performance and functionality.

For instance, Hempafire Optima 500, a new generation of fire protection coating from Hempel, was developed specially to increase the efficiency of passive fire protection coating applications. Therefore, the passive fire protection coatings segment dominates the global market with the majority of the market share.

Geographical Penetration

Regulatory Compliance and Expanded R&D Facilities in Europe

The increasing emphasis on regulatory compliance encourages R&D efforts to develop coatings that meet or surpass these standards. Researchers collaborate closely with regulatory authorities to ensure that novel coatings conform with EU legislation, national building codes and industry-specific norms.

In January 2023, Jotun announced the completion of a significant expansion of its Global Intumescent R&D Laboratory to advance new product innovations and technologies. This ambitious extension more than doubles the size of Jotun's Flixborough Global Intumescent R&D facility, to increase product development, fire-testing capacity and capabilities.

The new facilities will speed up the development of innovations and more complex products, while also offering additional certification assistance for Jotun's current product line. Therefore, Europe is growing at a significant CAGR during the forecasted period.

COVID-19 Impact Analysis

Lockdown restrictions and other related interruptions all had an impact on construction activity, causing fire protection coating projects to be delayed or canceled. Uncertainty regarding project schedules and market conditions caused building owners and developers to postpone or reduce construction operations, lowering demand for coating solutions.

The pandemic-induced economic slowdown restricted investment in commercial and residential development projects, lowering demand for fire protection coating. Lockdown procedures and social distancing methods intended to contain the virus caused delays and cancellations of construction projects around the world. As construction activity decreased or ceased entirely in some locations, demand for fire protection coatings fell as fewer new buildings, infrastructure projects and industrial facilities were started or completed.

Russia-Ukraine War Impact Analysis

The conflict has resulted in geopolitical uncertainty and instability in the region. Such uncertainty might undermine investor confidence, disrupt trade routes and cause currency exchange rate volatility, all of which could influence the global fire protection coatings market.

As a result of infrastructure damage and the need to recover and reinforce structures in conflict-affected countries, demand for fire protection coatings may increase. This could cause a short-term increase in demand for fire prevention coatings in affected locations.

By Type

• Passive Fire Protection Coatings
• Active Fire Protection Coatings

By End-User

• Oil & Gas
• Buildings and Construction
• Automotive
• Aerospace
• Marine
• Electrical & Electronics
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In February 2023, PPG has announced the release of PPG STEELGUARD 951 coating, an epoxy intumescent fire protection coating developed to meet the demands of modern architectural steel, with up to three hours of cellulose protection.
• In January 2023, Jotun, a global paints and coatings manufacturer, announced the completion of a major expansion of its Global Intumescent R&D Laboratory to drive new product innovation and technology.
• In 2019, HempeI launched the Hempafire Optima 500, is specifically intended to increase the productivity of passive fire protection coating applications.

Competitive Landscape

The major global players in the market include PPG Industries, Akzo Nobel N.V., The Sherwin-Williams Company, RPM International Inc., Nippon Paint Holdings Co, Axalta Coating Systems, LLC, The Valspar Corporation, BASE Coatings, KANSAI PAINT CO., LTD and Jotun Group.

Why Purchase the Report?

• To visualize the global fire protection coating market segmentation based on type, end-user and region, as well as understands key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of fire protection coating market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global fire protection coating market report would provide approximately 53 tables, 45 figures and 182 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies