New York, US, June 23, 2021 (GLOBE NEWSWIRE) -- Intumescent Coating Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Intumescent Coatings Market Information by Technology, Application, End User, and Region - Forecast till 2027” the market size was valued at around USD 935 million in 2019 and is expected to register a CAGR of over 4% from 2020 to 2027.
Market Insights:
The need for intumescent coatings has been noticed to be directly tied to construction expenditure by several countries and market players globally. Public construction in areas where there are issues of water supply and public safety, sewage treatment was significantly lesser. Still, the short-term prospect is optimistic and driven by the U.S. infrastructure expenditure levels. Also, there is a burgeoning demand for intumescent coatings in specialty coatings sub-segments, such as transportation, onshore/offshore oil marine, and gas production, as well as the latest industrial and commercial buildings.
The augmented usage of lightweight materials for modular homes, transportation, and insulation applications is estimated to be a central driving factor for the intumescent coating market. The development of the global Intumescent coatings is estimated to greatly depend on the demand from usage in protecting sphere-shaped structures encompassing peroxides, natural gas, and other chemicals. The prominent contenders in the market are also undertaking the merger and acquisition route to meet the global market's demands.
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Competitive Landscape:
The important players shaping the intumescent coating market are:
- Jotun
- Kansai Paint
- The Sherwin-Williams Company
- Hempel
- Promat International
- PPG
- Teknos Group
- Carboline
- 3M
- Nullifire
- Sika AG
- BASF SE
- Akzonobel NV
- Contego International, Inc
- Isolatek International
Browse In-depth Market Research Report (99 Pages) on Intumescent Coating: https://www.marketresearchfuture.com/reports/intumescent-coatings-market-10536
Market Segmentation:
The segment study of the global Intumescent Coating market is based on Technology, Application, End Use:
By Technology: Water-based, Solvent-based, Epoxy-based and others.
By Application: Hydrocarbon, Cellulosic and others.
By End User: Building & Construction, Oil & Gas, Automotive & Transportation, Aerospace, and Others.
Regional Analysis:
The development of the overall coatings market due to collective awareness and the emphasis concerning the safety procedures and the collective inclination for lightweight materials in the building & construction industry motivate the global intumescent coatings market shortly. Furthermore, the onset of rapid industrialization and urbanization across the world in advanced and emerging regions are projected to drive the intumescent coatings market. The mounting inclination towards lightweight materials in the construction industry globally and the elevated investment for expanding advanced infrastructure projects are also found to promote the requirement for intumescent coatings in the coming period. The large-scale end-use industries operating in the region are driving the North American region's market for intumescent coatings.
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The regional market of Europe is anticipated to observe promising demand due to the development of aerospace & defense, transportation, and oil & gas in the region. A few of the upcoming oil and gas projects in Europe are estimated to bolster the demand for intumescent coatings by 2027. StanChem Polymers declared that its wholly-owned firm, Albi Protective Coatings, achieved the acquisition of Dux Paint and its associated companies, Hawthorne Coating and Hood Products. Dux improves Albi Protective Coatings' technical competencies and develops Albi's intumescent and fire-retardant product approaches into the broader industrial protective coatings market. Dux and its current management team will stay to function and serve its client base from its Lodi facility.
The Asia Pacific region is estimated to be the fastest-growing region because of the speedy industrialization in the region. The development potential of the emerging economies in the Asia Pacific region such as India, Malaysia, Thailand, and South Korea is estimated to revitalize the demand for intumescent coatings. Furthermore, establishing manufacturing facilities in the region and developing the construction industry is anticipated to push the call for intumescent coatings in the APAC region. The obtainability of raw materials easily and low labor charges tied with minimal stringent laws concerning VOC emissions instead of those in the North American and European region offers great prospects for progressing the end-use sectors such as automotive, construction, and marine in the region.
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