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(Transportation-News.com, August 22, 2018 ) Industry Trend Analysis
The global Intumescent coating market was evaluated around USD 0.71 billion in the 2012 and is expected to reach approximately USD 1.47 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 7.61% over the forecast period owing to rising spending on construction by the customers in Asia Pacific region. Additionally, rising urbanization in this region along with rising implementation of passive fire protection is predicted to boost the growth. The market is expected to demonstrate growth owing to increasing shale gas exploration activities propelled by the advanced technological development including horizontal and hydraulic drilling. Moreover, expansion in the shale gas industrial application in various industries such as oil & gas, power, and manufacturing is projected to assist the global intumescent coatings market growth. The growth of automotive and aerospace industry along with rising demand for fireproof commercial and residential structures is anticipated to impact the regional market of the United States positively. Furthermore, rising funding for shale gas discovery in the country is likely to drive the demand for the next few years. The intumescent coatings demand is projected to be fueled by the obligation of the strict fire safety norms around the world. Also, the advent of the advanced, light-weight and thin film intumescent coatings by a key manufacturer is likely to benefit the global market.
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Technology Outlook and Trend Analysis
In 2015, water-based intumescent coatings market was expected at around 39% of the global market consumption owing to rising demand in inside applications fueled by superior flame retardant properties. Additionally, growing demand for the product due to the superior finish of the coating, faster drying time and absence of VOCs, is prone to boost the market growth during the forecast years. The requirement for solvent-based intumescent coatings is propelled by utilization in off-site applications where humidity and heat resistance establish fundamental parameters for the preference of coatings. Though, adverse characteristics of the products like higher price and elevated VOC content is anticipated to restrict the global market growth during the next few years.
End-user Outlook and Trend Analysis
In 2015, the utilization of the intumescent coatings in construction business reported for around 35% of the global market revenue owing to rapid infrastructural expansion in the emerging economies. Moreover, rising awareness about personal safety amongst consumers along with the increasing emphasis by regulatory organizations to execute fire protection inside the buildings is anticipated to benefit the global market growth. The rising product use for coating structural materials like composites in first-class vehicles is estimated to fuel the growth of the global market during the forecast years.
Application Outlook and Trend Analysis
The application for safety against cellulosic fires is anticipated to grow at a compound annual growth rate of around 5% over forecast period because of the construction industry growth, mainly in Asia Pacific region. The requirement for such coatings is from commercial and an industrial organization is likely to appear as the key growth driving factor during the forecast years. Strict fire safety standards mandated by several regulatory systems are projected to boost the product demand over the next few years. Besides, utilization of hydrocarbon intumescent coatings in oil & gas refinery plants and exploration process as a fire retardant previous to the initiation of operations is projected to fuel the market growth.
Regional Outlook and Trend Analysis
Asia Pacific regional market is anticipated to maintain high growth owing to the speedy development of the oil & gas market in this region. Additionally, rising construction in the emerging countries such as China and India is projected to direct to an elevated demand for the product contributing to the market growth. The market demand in China is likely to grow at a compound annual growth rate of over 6% over the forecast period due to high demand from the increasing construction industry. Also, the expansion of the automotive and aerospace industry in the country is also estimated to boost the growth. The European market is expected to demonstrate a modest growth owing to high market development. Though, the development of sophisticated products along with growing affinity of the automobile producers towards the utilization of the product is anticipated to fuel the growth of the global market.
Competitive Outlook and Trend Analysis
The global intumescent coatings market is distinguished by the existence of key multinational companies involved in strategies like new product development and mergers & acquisitions to enhance their business. The companies also deposit high prominence on cost discrimination as a key strategy engaged in order to increase industry share. The market demonstrates an elevated degree of integration over the value chain with the companies that are merged backward to the raw materials production and forward to the distribution and supply of the product to the end-user markets. Major market players in the global market are; Jotun, Sherwin-Williams, Carboline, Albi Manufacturing, Akzo Nobel N.V, Hempel A/S, Null Fire, PPG Industries, Inc., Contego International, 3M, Flame Control, Crown Paints, and Rudolf Hensel GmbH.
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The global intumescent coatings market is segmented as follows:
By Technology
Water Based
Solvent Based
Epoxy Based
By End-user
Oil & Gas
Construction
Automotive
Others
By Application
Hydrocarbons
Cellulosic
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
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