Global Intumescent Coatings Market Size, Share, and COVID-19 Impact, By Type (Thin-Film Intumescent Coatings, Thick-Film Intumescent Coatings), By Substrate (Structural Steel & Cast Iron, Wood), By Application Technique (Spray, Brush & Roller), By End-Use Industry (Industrial, Aerospace), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.
Global Intumescent Coatings Market Insights Forecasts to 2032
- The Intumescent Coatings Market Size was valued at USD 2.10 Billion in 2022.
- The market is growing at a CAGR of 5.9% from 2022 to 2032
- The Global Intumescent Coatings Market Size is expected to reach USD 2.62 Billion by 2032
- North America is expected to grow the fastest during the forecast period
The Global Intumescent Coatings Market Size is expected to reach USD 2.62 Billion by 2032, at a CAGR of 5.9% during the forecast period 2022 to 2032.
Intumescent coatings are a form of passive fire prevention system made to shield building materials like steel and wood from flames in the case of a fire. These coatings undergo a chemical reaction when they are in contact with heat or flames that causes them to expand and produce an insulating layer, which reduces the pace at which the substrate materials heat up. Intumescent coatings' main goal is to make building components more fire resistant, providing residents more time to safely evacuate and firemen more time to put out the fire. The coating expands, forming a char that serves as a barrier, shielding the underlying substance from the heat of the fire and halting the spread of flames. The availability of numerous intumescent coatings in a variety of finishes enables architects and builders to add fire protection without sacrificing the structure's aesthetic appeal.
Impact of COVID 19 On Global Intumescent Coatings Market
Supply networks for both raw materials and finished goods were interrupted by lockdowns, travel restrictions, and border closures. Intumescent coating manufacture and distribution were delayed as a result, potentially leading to shortages and delaying project completion. Due of a labour scarcity, social isolation policies, and economic uncertainty during the epidemic, numerous building projects had to be postponed or delayed. Intumescent coatings saw a decrease in demand as a result of this. Government rules during the pandemic to stop the virus's spread caused certain construction projects to be stopped or limited. In some areas, this had an impact on the market for intumescent coatings. Due to the pandemic's impact on the economy, less money was spent on non-essential initiatives, including some construction projects. This had an even greater effect on intumescent coating demand.
Key Market Drivers
Intumescent coatings were being used more frequently as a result of the rising worldwide building industry, particularly in developing nations. The need for fire-resistant materials and coatings increased as more construction and infrastructure projects were undertaken. The demand for fire prevention systems was spurred by the rapid urbanisation and infrastructure development occurring in many locations. In order to improve fire safety, intumescent coatings had to be used while building skyscrapers, high-rise constructions, airports, and other important facilities. A greater emphasis on fire safety measures resulted from growing knowledge of the catastrophic effects of flames on people and property. Intumescent coatings provided a practical way to safeguard buildings and buy more time for a safe escape in the case of a fire. Intumescent coatings have been the subject of ongoing research and development, which has resulted in the creation of novel materials with enhanced fire resistance, application simplicity, and environmental sustainability. More clients and industries adopted intumescent coatings as a result of these developments.
Key Market Challenges
When compared to traditional coatings, intumescent coatings can be quite pricey. Intumescent coatings might be more expensive initially, which may discourage some builders or project owners from using them, especially for projects with tight budgets. To attain the appropriate fire resistance rating, intumescent coatings normally need a particular thickness. This can give the coated surface more bulk, which would make the structure look unattractive. In certain circumstances, architects and builders could favour thinner coatings or more aesthetically pleasing fire prevention options. Environmental conditions, UV exposure, and physical damage are just a few of the variables that might determine how long intumescent coatings last. Regular inspection and upkeep are required due to the potential degradation of the coating's protective qualities over time.
Thin-Film Intumescent Coatings segment is dominating the market over the forecast period
On the basis of type, the global intumescent coatings market is segmented into Thin-Film Intumescent Coatings and Thick-Film Intumescent Coatings. Among these, the thin film intumescent coatings segment is dominating the market with the largest market share over the forecast period. When exposed to heat or flames, thin film intumescent coatings create a protective char layer that provides excellent fire protection. This char serves as an insulating barrier, reducing the pace at which heat is transferred to the substrate and containing the fire. Less material thickness is needed for thin film intumescent coatings, which saves on weight and space. This benefit is especially helpful for projects with weight constraints or where retaining the structure's original proportions is crucial.
Structural Steel & Cast Iron segment accounted the largest market share
Based on substrate, the global intumescent coatings market is segmented into Structural Steel & Cast Iron, Wood, and Others. Among these, structural steel and cast iron segment accounted the largest market share over the forecast period. Due to their capacity to increase the fire resistance of these materials, intumescent coatings are frequently employed to offer fire protection for structural steel and cast iron components in construction projects. The demand for fire protection solutions for structural elements like steel and cast iron has increased as a result of the expansion of construction activities, notably in the commercial, industrial, and infrastructural sectors. The demand for coatings that protect these materials from fire is increasing along with urbanisation and industrialization.
Spray segment to dominate the market over the forecast period
Based on the application, the global intumescent coatings market is segmented into Spray and Brush & Roller. Among these, spray segment to dominate the market over the forecast period. In general, spray application is quicker than other application techniques like brush or roller application. Large-scale projects can become more cost-effective as a result of the shortened labour time and project completion time that can result from this. The intumescent coating's thickness may be precisely controlled with spray application, guaranteeing uniform coverage and reliable fire protection over the surface.
End Use Insights
Building and construction segment holds the highest market share over the forecast period
On the basis of end use, the global intumescent coatings market is segmented into Building & Construction, Industrial, Aerospace, and Others. Among these, building and construction segment holds the highest market share over the forecast period. The significance of fire safety in construction projects is becoming more widely recognised. To ensure the safety of residents and save priceless assets, developers, architects, and building owners are increasingly giving fire prevention measures first priority. There is a demand for green fire protection options as the construction sector places more attention on sustainability. In accordance with sustainability objectives, some intumescent coatings are created with lower amounts of volatile organic compounds (VOCs) and harmful ingredients.
Recent Market Developments
- In June 2022, Hempafire XTR 100, a hydrocarbon passive fire protection coating with significant uses in the oil and gas industry, is a new product that the company has introduced.
List of Key Companies
- Akzo Nobel N.V.
- PPG Industries, Inc
- The Sherwin-Williams Company
- Hempel A/S
- Etex Group
- Kansai Paint Co.,Ltd.
- Teknos Group
- Carboline Company
- CPG EUROPE
- BASF SE
- Contego International Inc.
- Isolatek International
- GCP Applied Technologies Inc.
- Envirograf Passive Fire Products.
- Albi Protective Coatings
- Arabian vermiculite industries.
- No-Burn, Inc.
- Demilec (USA) Inc.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Intumescent Coatings Market based on the below-mentioned segments:
Intumescent Coatings Market, Type Analysis
- Thin-Film Intumescent Coatings
- Thick-Film Intumescent Coatings
Intumescent Coatings Market, Substrate Analysis
- Structural Steel & Cast Iron
Intumescent Coatings Market, Application Analysis
- Brush & Roller
Intumescent Coatings Market, End Use Analysis
- Building & Construction
1. What is the market size of Intumescent Coatings Market?
The global Intumescent Coatings Market is expected to grow from USD 2.10 Billion in 2022 to USD 2.62 Billion by 2032, at a CAGR of 5.9% during the forecast period 2022-2032.
2. Who are the key market players of Intumescent Coatings Market?
Some of the key market players of Akzo Nobel N.V.; PPG Industries, Inc; Jotun; The Sherwin-Williams Company; Hempel A/S; Etex Group; Kansai Paint Co.,Ltd.; Teknos Group; 3M; Carboline Company; CPG EUROPE; BASF SE; Contego International Inc.; Isolatek International; GCP Applied Technologies Inc.; Envirograf Passive Fire Products.; Albi Protective Coatings; Arabian vermiculite industries.; No-Burn, Inc.; Demilec (USA) Inc.
3. Which segment hold the largest market share?
Spray segment holds the largest market share is going to continue its dominance.
4. Which region is dominating the Intumescent Coatings Market?
Asia Pacific is dominating the Intumescent Coatings Market with the highest market share.