SAN FRANCISCO, August 3, 2015 /PRNewswire/ --
Global intumescent coatings market size is expected to reach USD 1.11 billion by 2022, according to a new study by Grand View Research, Inc. Construction industry growth is anticipated to drive the market growth of intumescent coatings. Rapid industrialization coupled with rising infrastructure development particularly in India and Indonesia. Furthermore, rising oil & gas and shale gas exploration in the South China Sea is expected to drive market growth in Asia Pacific.
Browse full research report with TOC on "Intumescent Coatings Market Analysis By Application (Cellulosic, Hydrocarbons), By End-Use (Oil & Gas, Construction, Automotive) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/intumescent-coatings-industry
Construction was the fastest growing end-use segment at a CAGR of 5.2% from 2014 to 2022. Stringent regulations regarding fire safety in buildings coupled with growing emphasis on building aesthetics is expected to drive demand for intumescent coatings in the construction segment.
Further key findings from the study suggest:
- Hydrocarbons dominated the application segment, accounting for 50.2% of global market revenue in 2014. Rising shale gas explorations coupled with increasing oil & gas refinery plants in expected to drive demand for hydrocarbon coatings over the forecast period.
- Rising demand for cellulosic coatings in automotive segment on account of superior fire protection and better aesthetics is expected to have a positive impact on the global market.
- Asia Pacific was the largest market, accounting for 33.3% of market revenue in 2014. Growing housing sector in China and India in light of increasing urbanization and population growth is expected to fuel intumescent coatings market over the forecast period.
- Europe is expected to witness sluggish growth at a CAGR of 3.9% between 2015 and 2022 owing to slump in the construction industry in the region. However, moderate growth in the region is expected to be fuelled by development of Eastern European countries.
- North America intumescent coatings market accounted for over 18% of global revenue in 2014 and is expected to grow at a CAGR of 4.8% over the forecast period. Rising demand for hydrocarbon intumescent coatings on account of growing shale gas exploration & production in the region is expected to augment market growth over the next seven years.
- Major intumescent coatings manufacturers include companies such AkzoNobel, Jotun Group, Contego International Inc., Hempel Marine Paints, No-Burn Inc., Null Fire, Sherwin-Williams, Carboline, Albi Manufacturing and Leighs Paints. Expansion of refining capacity in Middle East coupled with growing shale gas production in U.S is expected to ensure demand for intumescent coatings over the projected period.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
For the purpose of this study, Grand View Research has segmented the Intumescent Coatings Market on the basis of product, application and region:
- Global Intumescent Coatings Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Global Intumescent Coatings End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Oil & gas
- Global Intumescent Coatings Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- North America
- Latin America
- Asia Pacific
- North America
Browse related reports by Grand View Research:
- Waterborne Coatings Market - http://www.grandviewresearch.com/industry-analysis/waterborne-coatings-market
- Automotive Coatings Market - http://www.grandviewresearch.com/industry-analysis/automotive-coatings-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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