Intumescent Coatings Market Size Worth $1,753.03 Million by 2030: Grand View Research, Inc.

SAN FRANCISCO, June 9, 2022 /PRNewswire/ -- The global intumescent coatings market is expected to reach USD 1,753.03 million by 2030, registering a CAGR of 5.5% during the forecast period from 2022 to 2030, according to a new study by Grand View Research, Inc. Extensive usage of passive fire protection for steel structures, used in offshore & onshore extraction and purification & refining in the oil & gas industry is the key factor boosting the market growth.

Key Industry Insights & Findings from the report:

• Asia Pacific dominated the overall intumescent coatings market with a revenue share of more than 34.0% and is expected to maintain its dominance during the forecast period.
• Water based coatings is expected to be the fastest-growing technology segment of the global intumescent coatings market from 2022 to 2030.
• Oil & gas was the largest market in 2021 and is projected to expand further at the highest CAGR of 5.7% during the forecast years.
• The booming construction industry in Asia Pacific and the increasing oil and gas exploration activities across the globe are expected to drive the market for intumescent coatings during the forecast period.
• The intumescent coatings market growth is expected to be restrained due to volatile raw material prices.
• In May 2021, Hempel A/S introduced new Hemp afire Pro 400 intumescent coating, which maintains the stability of steel structures for up to 120 minutes in the event of a fire and has been optimized for maximum efficiency in the loadings for 90-minute duration. The new product is expected to bring increased value to the customers.

Get more Insights from 159 pages market research report, "Intumescent Coatings Market Size, Share & Trends Analysis Report By Technology (Water-based, Solvent-based, Epoxy-based), By Application (Hydrocarbon, Cellulosic), By End-Use (Construction), By Region And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Intumescent Coatings Market Growth & Trends

In addition, rising shale gas exploration coupled with expanding oil & gas industry in North America is expected to propel the product demand throughout the forecast period. The market is characterized by the presence of a large number of raw material suppliers leading to an increase in the switching ability of the manufacturers and boost the bargaining power.

However, volatile prices of the raw materials, such as epoxy resins is expected to restrain the growth to some extent. Moreover, several regulations limiting the presence of Volatile Organic Compounds (VOCs) in the formulation are further expected to hinder the market growth. On the other hand, development of advanced products that are compliant with the regulations set by the European Commission is expected to drive the demand during the next seven years.

The market in Asia Pacific witnessed a significant expansion owing to increased oil & gas exploration activities, particularly in the South China Sea. Furthermore, infrastructure development in emerging economies including India, Indonesia, and Vietnam is likely to contribute to the market development during the forecast period.

Water-based intumescent coatings segment is anticipated to progress at substantial growth rate during the forecast period. Water-based intumescent coatings are primarily used where solvent-based coatings are expected to react with the substrate. They are ideal primers owing to properties such as excellent thermal and corrosion resistance. In addition, they are flame resistant and have low toxicity owing to their low VOC content and low hazardous air pollutant emissions.

The use of water-based coatings is projected to increase during the forecast period due to the stringent legislation regarding the solvents present in paints & coatings in the U.S. and other developed European countries. Several companies in the market are working towards the improvement of new fast-drying intumescent coatings. Companies such as Alfa Laval and Hellenic Petroleum are using fast-drying water-based intumescent coatings for heat exchangers, train wagons, piping, and tanks. These coatings comply with strict VOC regulations and are suitable for shorter production turnaround time.

Intumescent Coatings Market Segmentation

Grand View Research has segmented the global intumescent coatings market report based on the technology, application, end-use and region:

Intumescent Coatings Market - Technology Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

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

Intumescent Coatings Market - Application Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

• Hydrocarbon
• Cellulosic

Intumescent Coatings Market - End-use Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

• Construction
• Oil & Gas
• Automotive
• Others

Intumescent Coatings Market - Regional Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Spain
• Denmark
• Finland
• Italy
• Belgium
• Netherlands
• Russia
• Sweden
• Romania
• Poland
• Asia Pacific
• China
• India
• Japan
• Central & South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• South Africa

List of Key Players of Intumescent Coating Market

• Akzo Nobel N.V.
• Jotun
• Contego International Inc.
• Hempel A/S
• No-Burn Inc.
• Nullifire
• The Sherwin-Williams Company
• Carboline
• Albi Protective Coatings
• Isolatek International
• Flame Control Coatings
• Rudolf Hensel GmbH
• PPG Industries, Inc.
• 3M
• Sika AG
• Tor Coatings

Check out more related studies published by Grand View Research:

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• Corrosion Protective Coatings Market - The global corrosion protective coatings market is expected to reach USD 28.02 billion by 2024, according to a new report by Grand View Research, Inc. Rising industrial production coupled with growing spending by regional governments on infrastructure development in emerging countries of Asia Pacific and the Middle East is expected to drive global corrosion protective coatings market growth over the next eight years.
• Cool Roof Coatings Market - The global cool roof coating market size is anticipated to reach USD 6.22 billion by 2027, exhibiting a revenue-based CAGR of 7.1% over the forecast period, according to a new report published by Grand View Research, Inc. Rising developments in the residential and industrial sectors are expected to positively impact the demand. Cool roof coatings reduce the heat build-up within the buildings, thus improving their performance and reducing the overall maintenance cost.

Browse through Grand View Research's  Paints, Coatings & Printing Inks Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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