Intumescent Coatings Market 2017: Analysis, Segments, Key Players, Drivers, Trends, and Forecast 2027
Market Forecast
The global Intumescent Coatings 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.
Intumescent coatingsarelayers of protective
substance that work by chemical reaction generated by heat, resulting in
swelling and formation of an insulating layer on the surface, with or without
the release of water. They act as a protective barrier for substrates against
fire to provide rescue and evacuation time in the event of a fire.
Segmentation
By Technology
- This segment is classified into
water-based, solvent-based, and epoxy-based.
- The water-based intumescent
coatings emerged as the fastest growing and leading segment on account of
benefits such as low cost and low VOC contents.
- Solvent-based coatings are made
up of liquefying agents that evaporate via a chemical reaction with
oxygen. These coatings have one significant advantage over water-based
coatings, which is less susceptibility to environmental conditions such as
temperature and humidity during the curing phase.
- Epoxy intumescent coatings are
widely used for fire protection and offer versatility, durability,
attractiveness, low thickness, and lightweightedness. These coatings are
used extensively in the petrochemical, offshore and marine markets.
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By End Use
- This segment is classified into
building & construction, oil & gas, automotive &
transportation, aerospace, and others.
- There is an increasing demand for
flame retardants in the building and construction industrydue to rapid
industrialization and urbanization across the globe. Emerging countries
such as China, India, Thailand, Brazil, etc. invest high amounts in
infrastructural development to promote intumescent coatings.
- Expanding oil & gas
exploration projects in line with the rising demand for energy boosts up
the demand for intumescent coatings globally.
- In automotive &
transportation, intumescent coatings are applied under the hood and car
bottoms. There is an increased production and sales of automobiles owing
to improved economic conditions of the consumers.
- They are used on various components in the
aircraft industry, including aviation fuel pumps, hydraulic landing gear
parts, interior cabin parts, and engine nacelles.
- The others segment includes
mining, electrical & electronics, etc.
By Application
- This segment is bifurcated into
hydrocarbon and cellulosic.
- Hydrocarbon intumescent coatings
reduce fire risk caused by oil & gas leaks because of their high
thermal stability and chemical resistance. These coatings form an
insulating char in the event of a fire breakout and protect the steel
framework from getting too hot, which reduces the spread of fire.
- Cellulosic intumescent coatings
are used in the construction industry to protect the uncovered steel
structures and facilitate escaping at the time of fire accidents by
providing heat-resistant layers.
By Region
- North
America: Market growth is driven by the presence of a large
industrial basein the region. Expanding end-use industries, especially
aerospace & defense, building & construction, and the energy
sector isthe key factor driving the market growth.
- Europe:
European region is a well-established market. Increasing demand for
intumescent coatings across major end-use industries is expected to propel
the market growth. The expanding aerospace andautomotive industry in the
region is the key factor driving the demand for intumescent coatings in
the region.
- Asia-Pacific:
This emerged as the fastest-growing region due to the fast-paced
industrialization and urbanization in India, Thailand, and South Korea.
- Latin
America:Rapid industrialization in countries such as Brazil and
Mexico is projected to drive market growth during the assessment period.
- Middle
East & Africa: The presence of large-scale oil
reservoirs and infrastructural hubs in the region promotes the demand for
intumescent coatings in the global market.
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Regulatory Framework
The US regulation NFPA 251 standards specify tests
to check fire resistance of the oil & gas and construction industry
materials to provide fire safety. There are various other regulations in Europe
for intumescent coatings.
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