Intumescent Coatings Market Growth Factors, Industry Overview, Product Types and Application by Regional Analysis
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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