Intumescent Coatings Market Share, Size, Trends, Industry Analysis Report, By Substrate (Structural Steel & Iron, Wood, Others); By Type; By Application; By Technology; By Application Technique; By End-Use; By Region; Segment Forecast, 2024- 2032
- Published Date:Feb-2024
- Pages: 118
- Format: PDF
- Report ID: PM4551
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
Global intumescent coatings market size was valued at USD 1.21 billion in 2023. The market is anticipated to grow from USD 1.27 billion in 2024 to USD 1.95 billion by 2032, exhibiting the CAGR of 5.5% during the forecast period
Intumescent Coatings Market Overview
The market is anticipated to experience growth driven by increased demand in the oil & gas sector, attributed to stringent regulations and a surge in global exploration activities. Additionally, the construction segment's demand is expected to further contribute to intumescent coatings market demand and growth during the forecast period.
The growing demand for energy, including tight gas, shale gas, and coal bed methane (CBM), due to the maturation of conventional oil & gas resources, is projected to be a significant driver for intumescent coatings market growth. The rise in global investments for the maintenance and repair of oil & gas drilling devices and platforms is also expected to contribute to the demand for intumescent coatings. Furthermore, the increasing investments in shale gas exploration in the U.S. are anticipated to boost the demand for the product in the coming seven years.
Asia-Pacific has dominated the global intumescent coatings market, driven by increased investments in shale gas exploration and rising demand for advanced thin and thin-film coatings. Industry participants are actively investing in research and development, capitalizing on emerging industry trends in durability and safety, which is leading to the widespread adoption of intumescent coatings. Intumescent coatings, substances that expand upon exposure to heat, are crucial for thermal protection and play a vital role in the fire protection of structural elements. These coatings undergo a thermochemical reaction when subjected to high temperatures, resulting in an expansion in volume and a decrease in density. Their application extends to various structural components, including columns, beams, and hollow sections, with fire resistance contingent on the specific type of intumescent coating used. Structural elements like hollow rectangular and circular sections, universal beams, and concrete-filled tubes can benefit from the protective properties of intumescent coatings.
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The higher expenses associated with intumescent coatings render them less favorable in certain industries. Consequently, cost-effective fire protection methods are employed, although they often fall short of delivering the desired performance and reliability. For instance, the utilization of cementitious coatings can lead to issues like cracks, pitting, and a decline in adhesion. To address this, fire safety services, agencies, and intumescent coating manufacturers can initiate awareness programs, such as seminars, to promote the use of these coatings in these industries. A significant growth opportunity in the intumescent coatings market trends is linked to increasing urbanization, which is expected to surge notably in emerging economies throughout the forecast period.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Intumescent Coatings Market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
Intumescent Coatings Market Dynamics
Market Drivers
Surging escalated investment activities bolstering the growth of the Intumescent coatings market share.
It is driven by the growing demand for energy, coal bed methane (CBM), shale gas, and tight gas as conventional oil and gas resources mature. The rised global investments in the repair and maintenance of gas and oil drilling platforms and equipment are also expected to contribute to this growth. Furthermore, the expenditures in the United States for shale gas are projected to be a key factor in boosting the demand for intumescent coatings.
Moreover, these coatings offer several advantages, including faster drying time, elevated build capacity, moisture resistance, good weather ability, and reduced overcoating intervals. Notably, water-based coatings find extensive application in construction and infrastructure for cellulosic materials like paper, wood, and textiles. The cost-effectiveness and diminished chemical odor emission of water-based intumescent coatings further contribute to the increasing demand for this product.
Market Restraints
Rigorous Regulations and Fluctuating Pricing are likely to hamper the growth of the market.
The instability in raw material prices, specifically epoxy resins, will somewhat restrain overall growth. Additionally, the market is likely to face hindrances in growth due to various regulations restricting the presence of Volatile Organic Compounds (VOCs) in formulations.
Report Segmentation
The market is primarily segmented based on substrate, type, application, technology, application technique, end-use, and region.
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By Substrate |
By Type |
By Application |
By Technology |
By Application Technique |
By End-Use |
By Region |
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Intumescent Coatings Market Segmental Analysis
By Technology Analysis
- Epoxy based technology segment dominated the market, in the forecast period. Epoxy-based intumescent coatings excel in fire protection, creating a barrier during a fire incident. While these coatings remain still at room temperature, exposure to elevated temperatures triggers the development of a dense char layer, significantly enhancing insulation levels in the fire.
- Solvent-based coatings find predominant use in gas applications and offshore oil within regions characterized by high humidity and low heat. They can be put into extensive surface areas with greater thickness compared to their water-based counterparts. Additionally, solvent-based intumescent coatings are chosen for achieving decorative finishes over intricate shapes, showcasing enhanced adhesion and notable water resistance. Nevertheless, the segment's growth is anticipated to face challenges due to its high cost and elevated VOC (volatile organic compound) content.
By Type Analysis
- In 2023, the market will be led by thin film intumescent coatings. These coatings find common use in scenarios where space or weight constraints are a consideration, such as in commercial buildings or transportation applications. Despite their thinner application, thin film coatings remain effective in providing fire protection by expanding and forming an insulating layer when subjected to heat. An illustration of thin film intumescent coatings available in the market is the Sherwin-Williams FIRETEX FX range, renowned for its thin film application and excellent fire protection for structural steel.
- Moreover, thick film intumescent coatings are engineered to deliver a high level of fire protection by creating a substantial insulating layer when exposed to elevated temperatures. Thick film coatings typically comprise multiple layers, including a primer, basecoat, and topcoat. The primer ensures proper adhesion to the substrate, the basecoat contains the intumescent ingredients activated by heat, and the topcoat enhances durability and aesthetic appeal. These coatings are commonly employed in applications demanding prolonged fire resistance, such as for structural steel columns and beams.
Intumescent Coatings Market Regional Insights
The Asia Pacific region dominated the global market with the largest market share in 2023
The region is poised to experience a surge in demand for intumescent coatings, propelled by various factors, including a diverse range of end users, proximity to raw material suppliers, and rapid industrialization and urbanization, particularly in India and China. The abundance of raw materials, coupled with less stringent regulations on VOC emissions compared to North America and Europe, has created significant opportunities for growth in end-use sectors such as automotive, construction, marine, and others in the region.
The lower labor costs in the emerging nations of Asia Pacific have attracted numerous foreign investors, leading to the establishment of manufacturing facilities in the region. Consequently, the growing number of manufacturing facilities is anticipated to stimulate construction activities in the region, thereby boosting the demand for intumescent coatings in the forecast period. However, the increase in COVID-19 cases in countries like India, China, Indonesia, Singapore, and others has resulted in the suspension or slowdown of construction activities, consequently impacting the demand for the product in the construction industry in the region.
In Europe, the market for intumescent coatings is expected to undergo substantial growth, primarily fueled by the steadily advancing automotive industry, which dominates the region. To meet criteria aimed at preventing corrosion and combustion, automotive companies utilizing industrial-grade steel for manufacturing chassis and other components must incorporate intumescent coatings.
Competitive Landscape
The Intumescent Coatings market players is fragmented and is anticipated to witness competition due to several players' presence. Major service providers in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include:
- 3M
- Akzo Nobel N.V.
- Albi Protective Coatings
- Carboline
- Contego International Inc.
- Hempel A/S
- Isolatek International
- Jotun
- No-Burn Inc.
- Nullifire
- PPG Industries, Inc.
- Rudolf Hensel GmbH
- Sika AG
- The Sherwin-Williams Company
- Tor Coatings
Recent Developments
- In December 2022, AkzoNobel completed the full acquisition of the aluminum wheels liquid coatings division from Lankwitzer Lackfabrik.
- In December 2022, Hempel received a B rating from CDP for its efficient environmental management.
- In November 2022, Nullifire joined forces with CCF, a national distributor in the UK construction industry, to broaden its network of regional distributors.
Report Coverage
The Intumescent Coatings market report emphasizes key regions across the globe to provide a better understanding of the product to the users. Also, the report provides market insights into recent developments and trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides a detailed analysis of the market while focusing on various key aspects such as competitive analysis, substrate, type, application, technology, application technique, end-use, and their futuristic growth opportunities.
Intumescent Coatings Market Report Scope
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Report Attributes |
Details |
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Market Size Value in 2024 |
USD 1.27 billion |
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Revenue Forecast in 2032 |
USD 1.95 billion |
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CAGR |
5.5% from 2024 – 2032 |
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Base Year |
2023 |
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Historical Data |
2019 – 2022 |
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Forecast Period |
2024 – 2032 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Substrate, By Type, By Application, By Technology, By Application Technique, By End-use, By Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
Report Customization
We provide our clients the option to personalize the Intumescent Coatings Market report to suit their needs. By customizing the report, you can get data as per your format and definition. Also, the customization option allows you to gain a deeper dive into a specific segment, region, customer, or market competitor.
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FAQ's
The global Intumescent Coatings market size is expected to reach USD 1.95 billion by 2032
Key players in the market are 3M, Akzo Nobel N.V., Albi Protective Coatings, Carboline, Contego International Inc
Asia Pacific contribute notably towards the global Intumescent Coatings Market
Global intumescent coatings market exhibiting the CAGR of 5.5% during the forecast period
The Intumescent Coatings Market report covering key segments are substrate, type, application, technology, application technique, end-use, and region.
