The Worldwide Fireproofing Materials Industry is Expected to Reach $1.5 Billion by 2026
DUBLIN, Sept. 30, 2021 /PRNewswire/ -- The "Global Fireproofing Materials Market by Coating Type (Intumescent coatings- Thin film and Thick film, and Cementitious coatings- Cement-based and Gypsum based), End-use (Commercial, Industrial, and Residential) and by Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The fireproofing materials market size is estimated to be USD 0.9 billion in 2021 and is projected to reach USD 1.5 billion by 2026, at a CAGR of 9.8% between 2021 and 2026.
Factors such as increasing fire safety regulations will drive the fireproofing materials market. Rising environmental and health concerns due to the use of conventional chemicals in fireproofing materials regions is a major restraint. However, growing demand for developed intumescent fireproof and water-based coatings in construction will act as an opportunity for the market.
Intumescent coatings is estimated to be the largest coating type of fireproofing materials market in 2020
Intumescent coatings are broadly divided into thin film and thick film coatings. Thin-film intumescent coatings are either solvent-based or water-based and consist of three components a primer, a base coat, and a sealer coat. These coatings are majorly used to provide fire resistance in buildings. Thick film intumescent coatings are usually epoxy-based and typically have higher dry film thickness than thin film coatings. These materials are tough and durable and were originally developed for use for hydrocarbon fires wherein the test heating regime is significantly severe than that used for most industrial and commercial applications. These are majorly used for external steel in high-rise buildings and structures exposed to marine environments. This segment is estimated to be the largest and fastest-growing segment in the coating type as it is more durable than cementitious coatings.
Industrial was the second largest end use industry for fireproofing materials market in 2020
The fireproofing materials market size for the industrial segment accounted for the second-largest share of global fireproofing materials, in terms of value, in 2020 this was led by the demand from energy & power, manufacturing, oil & gas, petrochemical, and transportation & logistics industries. Industrial construction includes high use of steel. This end-use is further sub-divided into onshore and offshore. Onshore industrial end-use includes fireproofing coatings applied on the various steel assets in onshore oil & gas refining and chemical processing environments, including spheres, vessels, skirts, beams, and columns. In the offshore segment, fireproofing coatings are used for the protection of steel structures in liquid natural gas carriers, oil drilling ships, floating oil & gas production vessels, oil tankers, and naval vessels.
Fire protection is a must for steel construction wherein the combustion of hydrocarbon fuels such as oil, methane, liquefied natural gas (LNG), and liquefied petroleum gas (LPG) can lead to disasters in the industrial segment, for instance, the oil & gas industry. Fireproof coatings are used in manufacturing units owing to their properties such as durability, ease of maintenance, esthetic benefits, and ease-of-application. Moreover, these coatings also provide protection against harsh environmental exposure, alkali, and abrasion.
North America is estimated to be the largest fireproofing materials market in 2020, in terms of value.
North America was the largest market for fireproofing materials in 2020. It has been a leader in product innovation in terms of quality and the development of applications. The US is the key country in the region, accounting for the largest share of the market. It has high demand in both, residential and commercial construction and is expected to grow significantly during the forecast period, leading to the growth of the market in the region. The demand for fireproofing materials in North America is increasing in both, existing and new constructions. New codes and policies have made the application of fireproofing materials mandatory for existing commercial and industrial buildings.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Fireproofing Material Manufacturers
4.2 Fireproofing Materials Market, by Region
4.3 Fireproofing Materials Market, by Region and End-Use
4.4 North America: Fireproofing Materials Market, by Coating Type and Country, 2020
4.5 Fireproofing Materials Market Attractiveness
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Fire Safety Regulations
5.2.1.2 Increasing Preference for Lightweight Materials in the Building & Construction Industry
5.2.1.3 Rising Number of Fire Incidents
5.2.1.4 New Rules for Green and Smart Buildings and Growing Focus on Obtaining Green Certifications
5.2.2 Restraints
5.2.2.1 Economic Slowdown and the Impact of COVID-19 on the Construction Industry
5.2.2.2 Rising Environmental and Health Concerns due to the Use of Conventional Chemicals in Fireproofing Materials
5.2.2.3 Price Sensitivity in the Emerging Regions
5.2.3 Opportunities
5.2.3.1 Development of More Effective Synergist Compounds
5.2.3.2 Growing Demand for Developed Intumescent Fireproof and Water-Based Coatings in Construction Projects
5.2.4 Challenges
5.2.4.1 Lack of Awareness and Non-Compliance to Regulations in the Emerging Markets
5.2.4.2 Concerns Related to Coating Application and Durability
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Supply Chain Analysis
5.4.1 Raw Material
5.4.2 Manufacturing of Fireproofing Materials
5.4.3 Distribution to End-users
5.5 Technology Analysis
5.6 Trends/Disruptions Impacting Customer's Business
5.6.1 Revenue Shifts & Revenue Pockets for Fireproofing Material Manufacturers
5.7 Ecosystem/ Market Map
5.8 Patent Analysis
5.9 Case Studies
5.10 Tariff and Regulatory Landscape
5.11 Macroeconomic Indicators
5.12 Fireproofing Materials: Realistic, Pessimistic, Optimistic, and Non-COVID-19 Scenario
5.13 Trade Data
5.14 COVID-19 Impact
6 Fireproofing Materials Market, by Coating Type
6.1 Introduction
6.2 Intumescent Coating
6.2.1 Thin Film Intumescent Coating
6.2.2 Thick Film Intumescent Coating
6.3 Cementitious Coating
6.3.1 Cement Based
6.3.2 Gypsum Based
7 Fireproofing Materials Market, by End-Use
7.1 Introduction
7.2 Commercial
7.2.1 High Growth in Commercial Construction Driving the Fireproofing Materials Market
7.3 Industrial
7.3.1 Industrial Growth in Emerging Economies to Drive the Market
7.4 Residential
7.4.1 Rising Gdp and Rise in Income Driving the Residential and Housing Applications
8 Fireproofing Materials Market, by Region
9 Competitive Landscape
9.1 Introduction
9.2 Strategies Adopted by Key Players
9.2.1 Overview of Strategies Adopted by Fireproofing Material Manufacturers
9.3 Market Share Analysis
9.3.1 Ranking of Key Market Players, 2020
9.3.2 Market Share of Key Players, 2020
9.3.2.1 Akzo Nobel N.V.
9.3.2.2 Ppg Industries Inc.
9.3.2.3 Etex Group
9.3.2.4 Jotun Group
9.3.2.5 Sika Ag
9.3.3 Revenue Analysis of Key Market Players, 2016-2020
9.4 Company Product Footprint Analysis
9.5 Company Evaluation Quadrant
9.5.1 Star
9.5.2 Emerging Leader
9.6 Start-Up/Small and Medium-Sized Enterprises (Smes) Evaluation Matrix
9.6.1 Responsive Companies
9.6.2 Starting Blocks
9.7 Competitive Situations and Trends
9.7.1 New Product Launches
9.7.2 Deals
9.7.3 Other Developments
10 Company Profiles
10.1 Major Players
10.1.1 3M
10.1.2 Akzo Nobel N.V.
10.1.3 Isolatek International
10.1.4 Sika Ag
10.1.5 Etex Group
10.1.6 Ppg Industries, Inc.
10.1.7 Basf Se
10.1.8 Carboline
10.1.9 Rpm International Inc.
10.1.10 Jotun Group
10.2 Other Key Market Players
10.2.1 Iris Coatings S.R.L.
10.2.2 Knauf Insulation GmbH
10.2.3 Hempel Group
10.2.4 W. R. Grace & Co.
10.2.5 Rolf Kuhn GmbH
10.2.6 Rockwool International As
10.2.7 No-Burn Inc.
10.2.8 The Sherwin-Williams Company
10.2.9 Contego International Inc.
10.2.10 Den Braven
10.2.11 Encon Insulation Ltd
10.2.12 Ugam Chemicals
10.2.13 Intumescent Systems Ltd
10.2.14 Pk Companies (Us)
10.2.15 Flameoff Coatings Inc (Us)
11 Adjacent & Related Markets
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/mavm5s
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article