PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1342068
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1342068
The global cellulosic fire protection intumescent coatings market size is projected to grow from USD 601 million in 2023 to USD 725 million, at a CAGR of 3.8%. Cellulosic fire protection intumescent coatings stand at the forefront of fire safety technology, poised to revolutionize safety measures across various industries. These coatings offer a sophisticated defense mechanism, reacting to heat exposure by forming an insulating char layer that shields underlying substrates from fire damage. Key attributes and benefits include their ability to enhance fire resistance in materials like steel, wood, and concrete, thereby prolonging structural integrity during fire incidents. Additionally, these coatings excel in thermal insulation, reducing heat transfer and maintaining stability. Their discreet integration into architectural designs preserves aesthetic appeal, while their formulation with environmentally-friendly components aligns with sustainability goals.
The water-borne segment is expected to register one of the highest market share during the forecast period
Water-borne cellulosic fire prevention intumescent coatings are extremely effective against cellulose-fueled flames. Because they are more ecologically benign than solvent-borne coatings, intumescent coatings are becoming increasingly popular. Water-borne intumescent coatings contain less hazardous particles, making them more suited for nations or regions with stringent environmental restrictions. These coatings are widely used in the indoor and dry regions of residential and commercial constructions. In the near future, the growing trajectory of urbanization is likely to play a critical role in supporting the growth of the water-based cellulosic fire prevention intumescent coatings market.
The structural steel & cast iron segment in substrate type is expected to register one of the highest market share during the forecast period
Structural steel and cast iron substrates have established themselves as pivotal building materials within the expansive domain of the building and construction industry. The influence of these substrates transcends borders, with the American Society of Steel Construction reporting their dominance in the construction materials landscape, particularly in the United States. In fact, their significance is mirrored by the housing and construction sector's staggering consumption of steel, accounting for over 50% of the global steel production, as highlighted by the World Steel Association. Steel's multifaceted utility extends its grasp across a spectrum of critical sectors, spanning energy, automotive, transportation, infrastructure, packaging, and machinery. As the world's population burgeons, steel's role becomes even more pivotal, with projections indicating a 20% surge in steel use by 2050 to cater to burgeoning demands.
North America cellulosic fire protection intumescent coatings market is estimated to capture one of the highest share in terms of volume during the forecast period
North America has the greatest market for cellulosic fire prevention intumescent coatings. The growth of the North American cellulosic fire protection intumescent coatings market is primarily attributed to the National Fire Protection Association's (NFPA) stringent regulations and standards & norms in the US, as a result of which intumescent coatings have gained significant attention in the building & construction industry. It is attributable to increasing investment in the residential and commercial sectors, as well as megaproject building. In addition, the building of new airports, metros, and tunnels is increasing the region's economy. The North American building and construction sector offers a promising panorama of development potential, supported by a confluence of forces that influence its destiny collectively. The region's construction sector is a critical engine of economic growth, positioned to capitalize on different possibilities while navigating possible hurdles.
The key companies profiled in this report are Kansai Paints Co. Ltd (Japan), ETEX Group (Belgium), Sika AG (Switzerland), RPM International Inc (US), Jotun (Norway), PPG Industries, Inc (US), The Sherwin-Williams Company (US), AkzoNobel N.V. (Netherlands), and others.
The cellulosic fire protection intumescent coatings market is segmented by Type (Water-borne, Solvent-borne), Material Type (Epoxy, Alkyd, Acrylic, VAE, and Others), End Use (Residential and Commercial), Substrate (Structural Steel & Cast Iron, Wood, and Others), and Region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The study's coverage covers detailed information on the key factors influencing the growth of the cellulosic fire protection intumescent coatings market, such as drivers, constraints, challenges, and opportunities. A thorough examination of the top industry players was carried out in order to provide insights into their company overview, solutions, and services; essential strategies; contracts, partnerships, and agreements. There includes coverage of new product and service launches, mergers and acquisitions, and ongoing developments in the cellulosic fire prevention intumescent coatings market. A competitive analysis of emerging companies in the cellulosic fire prevention intumescent coatings business ecosystem is included in this study. Reasons to buy this report: The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cellulosic fire protection intumescent coatings market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.