Intumescent Coatings Market (By Technology: Solvent-based, Water-based, Epoxy-based; By Application: Cellulosic, Hydrocarbons; By End-use: Oil & Gas, Automotive, Construction, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

According to Acumen Research and Consulting, the global Intumescent Coatings market is expected to grow at noteworthy CAGR around 4.9 % throughout the forecast period and reach around US$ 1.5 billion by 2026.

Intumescent is a substance which swells if heat exposure is contacted. Thus the volume expands and the density decreases. When the layer has contact with high temperature, it undergoes a thermochemical reaction that leads to a thermal protection of the surface. Fire protection of structural elements is vital for intumescent coatings. Intumescent coating can protect different types of structural part depending on the shape, especially the columns, the beams and the hollow sections. The fire resistance depends entirely on the type of intumescent coating. Intumescent coatings can cover a wide variety of structure segments including beams and columns, circular and rectangular pathways and filled tubes for concrete. The protection of people is possible up to three hours after the fire breaks, depending on the type of intumescent coating.

The report provides analysis of global Intumescent Coatings market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Market Dynamics

Due to strict regulations and increased shale gas explorations around the globe, high product demand in the petroleum and gas sectors is likely to boost market growth. In addition, automobile market demand over the projected period is anticipated to fuel market growth. The market for intumescent coatings in the automotive sector should dominate public transport and freight vehicles. The demand for products will also contribute to stringent fire safety regulations imposed by different authorities worldwide. Fast growth in the aerospace and automotive industries combined with increased demand for residential and commercial buildings that are fireproof are expected to have a positive effect on the US market. More investment in shale gas exploration in the United States is also expected to boost product demand in the next nine years. Advanced, thin, lightweight intumescent films should be introduced, which will further drive demand. Due to superior characteristics of intumescent coatings the industry is at low risk of substitution by alternatives, such as vermiculite fire protection. Increased awareness of residential buildings fire protection is likely to stimulate market growth throughout the forecast period.

Rapid growth of the construction sector and major development of infrastructure is expected to have a positive impact on product demand in developed economies like India or Indonesia. Because of its properties, such as durability and esthetic appeal, intumescent coating has a high potential, making it ideal for automotive and construction use. Volatility in raw material prices, however, is expected to reduce to some degree product demand.

The growth of the intumescent coatings market can have a positive impact on increased population, urbanization and developments in the new technologies related to coatings. The world market for intumescent coatings can be driven by increased demand for cellulosic composites in the automobile industry in order to provide vehicles with fire protection as a result of the implementation of consumer safety standards. The worldwide intumescent coatings market should be boosted by easy installations and a vast range of operating temperatures. The compulsion of security and safety devices in industries such as chemical oil or gas, which have an extreme likelihood of fire explosion due to the production of fuel elements, is the main factor driving the market for intumescent coatings. Growing consumer awareness of the fire protection system will help in future to increase the growth of the intumescent coatings market.

Technology Outlook

The market was divided into water, solvent and epoxy coatings on the basis of technology. The most rapidly growing technology segment is expected to be water-based from 2019 until 2026. Strict regulations on the use of fire protection in buildings will probably increase demand for the product. In order to boost the demand for water-based products, regulations for the use of VOC-paints for interior applications are expected because of higher toxicity and environmental effects. In the coming years solvent-based coating will also be highly demanded. The coatings are used off-site to achieve decorative finishing over complex shapes and to improve adhesiveness and high water strength in areas of low temperatures and high humidity.

Application Outlook

The market was divided into hydrocarbons and cellulosics based on application. Over the forecast period, hydrocarbons are expected to grow the fastest. Increased use of intumescent hydrocarbon coatings is probably driving product demand for industry such as oil & gas and energy. Rapid acceptance on the global offshore market of international standards for testing and certification will also boost segment growth. Moreover, the development of the segment is supported by high product demand in construction, especially in industrial and commercial buildings combined with increasing worldwide oil and gas exploration.

End Use Stance

Due to the end use of construction, oil & gas, cars and others the market has been segmented. The world's largest share in oil and gas was in 2018, and its dominance is expected to continue over the forecast period. The product demand in this segment is expected to fuel rising investment in exploration, deep-water projects, marginalized sectors and refining capacity expansion. In 2018, the building sector represented an important market share. Increased awareness of personal security, combined with the increasing emphasis by regulators on implementing fire protection systems in buildings, is expected to increase further in a strong CAGR from 2019 to 2026.

Regional Stance

Asia Pacific was the world's biggest share in 2018 and is expected to increase over the forecast years at CAGR's highest. The rapid industrialization and the increasing construction industry in the region are attributable to this growth. The awareness of fire safety is also expected to increase demand for the product. As a result of high market maturity, Europe is expected to see limited growth. However, the evolution of advanced products and the rising demand for products by automotive manufacturers are expected to drive this region's market.

Market Segmentation

Global Intumescent Coatings Market, By Technology

• Solvent-based
• Water-based
• Epoxy-based

Global Intumescent Coatings Market, By Application

• Cellulosic
• Hydrocarbons

Global Intumescent Coatings Market, By End-use

• Oil & Gas
• Automotive
• Construction
• Others

Global Intumescent Coatings Market, By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa (MEA)

The market research study on “Intumescent Coatings Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Intumescent Coatings market segments with market dynamics and their impact. The report also covers basic technology development policies.

The report provides an analysis of the latest industry trends from 2015 to 2026 in all sub-segment segments and forecasts revenue and volume growth on the global, the regional and country levels. ARC has divided the global market report of medical oxygen concentrations on product, application, technology and region for this study.

Key Players & Strategies

There are some key companies on the market, such as AkzoNobel N.V., Jotun Group, Hempel Marine Paints, Null Fire, Sherwin-Williams Company, and regional medium or small companies, such as Carboline; No-Burn, Inc.; and Albi Manufacturing. The market is fragmented. The market is highly competitive and producers compete based on product quality and production technology. They also stress price differentiation as an important strategy for increasing market share and following an integrated approach for cost reduction and profit maximisation.