USD 1.18 billion
Intumescent Coatings Market Size, Share, Growth Analysis, By Technology(Water-based, Solvent-based, and Epoxy-based), By Application(Hydrocarbon and Cellulosic), By End User(Construction, Oil & Gas, Automotive, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2115 |
Region:
Global |
Published Date: February, 2024
Pages:
254
|Tables:
89
|Figures:
78
Intumescent Coatings Market Insights
Intumescent Coatings Market size was valued at around USD 1.18 billion in 2019 and is expected to reach a value of USD 1.64 billion by 2031, at a CAGR of 5.64% over the forecast period (2024-2031).
The increase in product demand in the oil and gas sector is expected to drive market expansion due to severe restrictions and a rise in exploration activities globally. Furthermore, it is anticipated the demand from the construction sector will fuel market growth during the anticipated period. In the oil and gas industry, intumescent coatings are used to protect structural steel against fire at temperatures of 1,100°C and higher on land and at sea. Furthermore, they protect structural steel from moisture and chemical exposure that could corrode the metal. These coatings offer safety against jet and pool flames. Rising energy consumption is likely to support the oil and gas sector throughout the forecasted period, which will boost demand for intumescent coating.
The introduction of trying to cut thin-film, lightweight intumescent coatings is expected to significantly increase demand. Throughout the forecast period, rising consumer awareness of residential building fireproofing is likely to drive market growth. The market is also anticipated to increase during the forecast period due to the rising demand for cellulosic intumescent coatings to protect the structural integrity of reinforced steel in buildings.
US Intumescent Coatings Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hydrocarbon
Fastest Growth
Hydrocarbon
Growth Rate
5.64% CAGR
Global Intumescent Coatings Market ($ Bn)
Country Share for North America Region (%)
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Intumescent Coatings Market Segmental Analysis
Global Intumescent Coatings Market is segmented based on Technology, Application, End User, and region. Based on Technology the Intumescent Coatings Market is segmented into Water-based, Solvent-based, and Epoxy-based. Based on Application The Intumescent Coatings Market is segmented into Hydrocarbon, and Cellulosic. Based on End User the Intumescent Coatings Market is segmented into Construction, Oil & Gas, Automotive, and Others. Based on region the global Intumescent Coatings Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Intumescent Coatings Market Analysis by Application
In 2021, the cellulosic application segment dominated the market. By providing heat-resistant layers, cellulosic intumescent coatings are primarily utilized in the construction industry to safeguard exposed steel structures and ease escape during fire incidents. The construction industry's expanding need for intumescent coatings, particularly in industrial and commercial buildings, is expected to drive market growth.
Furthermore, increased pressure from several health and safety organizations and concerns with workplace human safety are anticipated to foster segment growth over the course of the projection year. Throughout the projected period, it is anticipated that expanding industrialization would be accompanied by increasing infrastructure building activities, particularly in the Asia Pacific and Middle East regions. Also, during the projection period, regulatory bodies' strict fire protection standards for buildings are estimated to boost demand for cellulosic intumescent coatings.
Intumescent Coatings Market Analysis by End User
In 2021, the oil and gas end-use segment dominated the market and accounted for more than 44.0% of worldwide revenue. The product demand in this market is expected to be influenced by rising investments in exploration activities, deep-water projects, marginal fields, and the increase of refining capacity. Moreover, expanding exploration activities in the industry and a growing government emphasis on compliance with strict fire safety regulations are expected to drive market growth during the forecast period.
The oil and gas sector is anticipated to grow during the projection period as a result of increased shale gas output and rising gas utilization in the energy mix. The oil and gas industry strongly favors epoxy-based coatings since they can endure higher temperatures than their counterparts.
Global Intumescent Coatings Market By Type
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Intumescent Coatings Market Regional Insights
Asia Pacific dominated the global market owing to the presence of numerous end customers, near proximity to raw material suppliers, expanding industrialization, and urbanization, notably in China and India, the region's demand for intumescent coatings is anticipated to rise. Numerous international investors have chosen to situate their manufacturing operations in the developing nations of Asia due to the region's low labor costs. Because of this, there is a decent possibility that the growth of manufacturing facilities will boost regional construction activity, which would ultimately enhance demand for intumescent coatings over the course of the forecasted period.
North America and Europe are anticipated to grow at the fastest rates due to the region's expanding range of end-use industries, including the automotive, maritime, and construction sectors.
Global Intumescent Coatings Market By Region
- Largest
- Fastest
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Intumescent Coatings Market Dynamics
Intumescent Coatings Market Drivers
Market Growth is driven by Higher Investments
- A significant growth driver for the intumescent coatings market is predicted to be the increase in demand for energy, shale gas, tight gas, and coal bed methane (CBM) as a result of the conventional oil and gas resources market's maturation. It is expected that increasing worldwide investments in oil and gas drilling platforms and equipment maintenance and repair would increase demand for intumescent coatings. In addition, rising shale gas exploration expenses in the US are expected to boost product demand over the next seven years.
Intumescent Coatings Market Restraints
Volatile pricing and severe regulations limit growth.
- It is anticipated that changing raw material prices, like those for epoxy resins, also may restrain growth. Also, it is anticipated that a number of regulations limiting the presence of volatile organic compounds (VOCs) in the formulation will impede market growth.
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Intumescent Coatings Market Competitive Landscape
The regional players, who have well-established distribution networks and are familiar with the laws and suppliers in their market, directly compete against the global players as well as with each other. By adopting strategic initiatives like global expansion, new product launches, mergers and acquisitions, and collaborations, market participants are concentrating on securing their positions. For instance, Jotun introduced Steel Master 1200HPE, a high-performance epoxy intumescent coating, in April 2022. For up to 120 minutes, the new intumescent coating shields infrastructure structures from cellulosic fire.
Intumescent Coatings Market Top Player’s Company Profiles
- Akzo Nobel N.V.
- Jotun
- Hempel A/S
- No-Burn Inc.
- Nullifire
- The Sherwin-Williams Company
- Albi Protective Coatings
- Isolatek International
- Flame Control Coatings
- Rudolf Hensel GmbH
- PPG Industries, Inc.
- 3M
- Sika AG
- Tor Coatings
- PPG Industries, Inc
- Etex Group
- Kansai Paint Co.,Ltd.
- Teknos Group
- BASF SE
- Contego International Inc
Intumescent Coatings Market Recent Developments
- In October 2021, A cooperation with No-Burn Inc. and Huntsman Building Solutions was recently announced, enabling Huntsman Building Solutions to market a variety of No-intumescent Burn's coatings to contractors all over the country. The cooperation would make No-fire-resistant Burn's coating options more available to clients (contractors).
Intumescent Coatings Key Market Trends
- The steel structure is protected from corrosion and fire by an intumescent coating. As a consequence, it helps in reducing labor demand and raising component output. Also, one of the options for fire protection is the advancement in coatings' ability to keep excellent adhesion under extreme temps, which increases building safety. The growth of the intumescent market is closely correlated with the growing demand for such coatings. One of the market's largest end users for intumescent coatings is the oil and gas sector. Due to a high temperature environment in its business operations, including horizontal drilling and refining, the sector essentially needs fire protection and fireproofing. In addition to safeguarding from fire, the product protects from chemical and corrosion harm to metal and steel structures that are exposed to moist and damp conditions. Some of the most challenging work environments are found in offshore oil and gas production. Thus, it is essential for coating systems used in production to be appropriately equipped. Offshore, the necessity for intumescent coatings is exacerbated by constant contact with choppy seawater and prolonged exposure to penetrating UV rays.
Intumescent Coatings Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Intumescent Coatings market analysis, increasing investment in the development of modern, improved infrastructure, rising growth in oil and gas exploration activities, the prevalence of shale gas outlook, and urbanisation are few of the critical and significant factors that will contribute significantly to the growth of the market over the expected timeframe. The growth of the market has indeed been attributed to factors such as rising awareness, regulations, and emphasis on precautionary measures.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.18 billion |
| Market size value in 2031 | USD 1.64 billion |
| Growth Rate | 5.64% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Intumescent Coatings Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Intumescent Coatings Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Intumescent Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Intumescent Coatings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Intumescent Coatings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Intumescent Coatings Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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