Intumescent Coatings Market Size, Share, Growth Analysis, By Type (Thin-film Intumescent Coatings, and Thick-film Intumescent Coatings), By Substrate, By Application Technique, By Region - Industry Forecast 2024-2031

Global Intumescent Coatings Market size was valued at USD 1.09 billion in 2022 and is poised to grow from USD 1.14 billion in 2023 to USD 1.61 billion by 2031, growing at a CAGR of 4.40% during 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.