Global Fire-resistant Coatings Market Insights Forecasts to 2032
- The Fire-resistant Coatings Market Size was valued at USD 2.8 Billion in 2022.
- The Market Size is Growing at a CAGR of 4.5% from 2022 to 2032
- The Worldwide Fire-resistant Coatings Market Size is expected to reach USD 4.5 Billion by 2032
- North America is expected To Grow the fastest during the forecast period.
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The Global Fire-resistant Coatings Market Size is expected to reach USD 4.5 Billion by 2032, at a CAGR of 4.5% during the forecast period 2022 to 2032.
Coatings that are carefully prepared to boost a surface's resistance to fire and heat are referred to as fire-resistant coatings or fire-resistant coatings. These coatings are intended to lessen a fire's severity and limit the spread of the flames, giving firefighters and evacuees more time to get away. To improve fire safety, fire-resistant coatings are frequently utilised in a variety of industries, including manufacturing, transportation, and construction. Depending on the intended use and needed level of fire protection, the precise composition of fire-resistant coatings can change. However, they often combine binders, fillers, additives, and chemicals that are flame-retardant. A variety of surfaces, including structural steel, wood, concrete, cloth, and electrical wires, can be coated with fire-resistant material. The required thickness and number of coats depend on the particular coating system and fire rating criteria, and they are commonly applied using spray, brush, or roller methods.
Impact of COVID 19 On Global Fire Resistant Coatings Market
The industry for fire resistant coatings has been impacted by the COVID-19 epidemic in a variety of ways. Lockdowns, supply chain problems, and labour shortages caused interruptions in the construction sector, a significant consumer of fire resistant coatings. In many areas, construction projects were postponed or halted, which resulted in a decline in the need for fire resistant coatings. Throughout the epidemic, fire safety remained of utmost significance. Businesses and organisations may have paid more attention to fire protection measures, such as the adoption of fire resistant coatings, as they concentrated on guaranteeing the safety and wellbeing of occupants. The market for fire-resistant coatings could grow as the world economy strengthens and construction activity picks back up. Future demand for these coatings may be influenced by investments in infrastructure development, building renovations, and fire safety improvements.
Global Fire-resistant Coatings Market Report Coverage
|Market Size in 2022:||USD 2.8 Billion|
|Forecast Period 2022-2032 CAGR:||4.5%|
|2032 Value Projection:||USD 4.5 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Resin Type, By Coating Type, By Application, By End User, by Region.|
|Companies Covered:||3M, Hempel A/S, The Sherwin-Williams Company, Hilti Group, AkzoNobel N.V, PPG, Kansai Paint Co.,Ltd, Jotun, Etex Group, GCP Applied Technologies Inc, Sharpfibre Limited, svt Holding GmbH, Rudolf Hensel Gmbh, Isolatek International Corporation, Contego International Inc., Isolatek International, envirograf passive fire products, no-burn inc., TEKNOS GROUP, CARBOLINE, Vijay Systems Engineers Pvt Ltd.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Key Market Drivers
Due to rising fire safety awareness and the demand for better fire protection across a variety of industries, fire resistant coatings have seen growth in recent years. Building codes and strict fire safety requirements have been imposed by governments and regulatory agencies, which demand for the use of fire resistant materials in specific applications. Due to this, demand for fire resistant coatings has increased, especially in the construction sector. Particularly in emerging economies, the building industry has been expanding globally. To maintain the safety of buildings and occupants, there is an increasing demand for fire protection measures, including the use of fire resistant coatings. Moreover, With the growth of sectors like industrial, petrochemicals, and oil and gas, there is a greater need for fire protection systems. In these industries, fire resistant coatings are essential for safeguarding machinery, buildings, and assets. Adoption of fire resistant coatings has been sparked by growing awareness of the significance of fire safety in commercial, residential, and public places. To reduce the risk of fire and potential damages, both businesses and people are investing more in fire safety systems.
Key Market Challenges
Due to their unique composition and additional fire protection features, fire resistant coatings can cost more than regular coatings. The more expensive price of fire-resistant coatings can occasionally make it more difficult for them to be widely used, particularly in cost-conscious businesses. It is vital to spread knowledge about the advantages and significance of fire resistant coatings. Many end users might not completely comprehend the dangers of fire hazards or the need of fire resistant coatings in reducing such dangers. It is a constant challenge to inform clients about fire safety and the benefits of applying fire resistant coatings.In addition, due to the wide variety of products and formulations offered by multiple producers, the market for fire resistant coatings is quite fragmented. Because of this fragmentation, it may be difficult for end customers to navigate the market and choose the best and most dependable fire resistant coating for their unique requirements.
Resin Type Insights
Epoxy segment is dominating the market with the largest market share over the forecast period
On the basis of resin type, the global fire resistant coatings market is segmented into Acrylic, Epoxy, Silicone, and Others. Among these, epoxy segment is dominating the market with the largest market share over the forecast period. Stricter fire safety requirements have been introduced by governments and regulatory agencies in a variety of industries. The use of fire-resistant materials, such as coatings, is frequently mandated by these rules for construction projects, industrial facilities, and transportation infrastructure. The need for epoxy fire resistant coatings has been fueled by the requirement to abide by these rules. The significance of fire prevention in preserving people's lives, property, and infrastructure is becoming increasingly clear. To reduce the risk of fire, organisations and people are investing more in fire safety measures, such as the use of fire-resistant coatings. The market for epoxy fire resistant coatings has expanded in part due to the growing awareness of and attention to fire protection.
Coating Type Insights
Water based coatings accounted the largest market share over the forecast period
Based on the coating type, the global fire resistant coatings market is segmented into Water Based, Solvent Based, UV Based, and Others. Among these, water based coatings segment accounted the largest market share over the forecast period. Compared to solvent-based coatings, water-based coatings are often simpler to handle and apply. During application, they pose fewer fire and health risks, and cleanup is simpler because water can be used to clean tools and equipment. As a result, water-based fire-resistant coatings are the favoured option in settings where application convenience and safety are crucial factors.
Car body frame segment is dominating the market with the largest market share
Based on the application, the global fire resistant coatings market is segmented into Cable Wire, Gas Pipeline, Car and Truck Seating, Car Body Frame, Walls, Ceiling, and Others. Among these, car body frame segment is dominating the market with the largest market share over the forecast period. Steel, which commonly makes up the car body frame, can be shielded from heat and fire by fire resistant coatings. These coatings can aid in preventing the structural integrity of the frame from being compromised by slowing down the rate of heat transfer, preserving its strength and integrity for a longer length of time during a fire disaster.
End User Insights
Construction segment is witnessing the highest market growth over the forecast period
On the basis of end user, the global fire resistant coatings market is segmented into Building and Construction, Power, Automotive, Ship Building, Aerospace, Oil and Gas, and Others. Among these, construction segment is witnessing the highest market growth over the forecast period. Fire resistant coatings are essential for improving fire safety in the building industry. They are employed in a number of applications to shield surfaces, building materials, and structural parts from the heat and flames produced by a fire. To increase the fire resistance of various building components, such as gypsum boards, insulation materials, and fabrics, fire resistant coatings can be applied. These coatings aid in limiting the emission of poisonous gases during a fire occurrence, reducing heat transfer, and preventing the rapid spread of flames.
Asia Pacific is dominating the market over the forecast period
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Among all other regions, Asia Pacific region is dominating the market with the largest market share over the forecast period. In the Asia Pacific area, where nations are undergoing fast urbanisation and development activities, fire resistant coatings are extremely important. Airports, train stations, bridges, tunnels, and other infrastructure are all being built in the area. In these projects, fire-resistant coatings are used to improve fire safety and safeguard crucial infrastructure components from fire damage, assuring the resilience of these structures.
North America, on the other hand is witnessing the fastest market growth over the forecast period. The requirement for fire safety in many industries, stringent laws, a focus on technological improvements, and sustainability all contribute to the use of fire resistant coatings in North America. To ensure effective application and adherence to pertinent standards and rules and to maximise fire protection in the area, manufacturers, architects, builders, and fire safety professionals work together.
Recent Market Developments
- In March 2020, The remaining 25% of Akzo Nobel Boya Sanayi ve Ticaret A.S., a significant Turkish joint venture for powder coatings, has been purchased by Akzo Nobel N.V. The joint company will produce and sell powder coatings in Central Asia and Eastern Europe.
List of Key Companies
- Hempel A/S
- The Sherwin-Williams Company
- Hilti Group
- AkzoNobel N.V
- Kansai Paint Co.,Ltd
- Etex Group
- GCP Applied Technologies Inc
- Sharpfibre Limited
- svt Holding GmbH
- Rudolf Hensel Gmbh
- Isolatek International Corporation
- Contego International Inc.
- Isolatek International
- envirograf passive fire products
- no-burn inc.
- TEKNOS GROUP
- Vijay Systems Engineers Pvt Ltd.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Fire-resistant Coatings Market based on the below-mentioned segments:
Fire-resistant Coatings Market, Resin Type Analysis
Fire-resistant Coatings Market, Coating Type Analysis
- Water Based
- Solvent Based
- UV Based
Fire-Resistant Coatings Market, Application Analysis
- Cable Wire
- Gas Pipeline
- Car and Truck Seating
- Car Body Frame
Fire-Resistant Coatings Market, Application Analysis
- Building and Construction
- Ship Building
- Oil and Gas
Fire-resistant Coatings Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of Fire-resistant Coatings Market?The global Fire-resistant Coatings Market is expected to grow from USD 2.8 Billion in 2022 to USD 4.5 Billion by 2032, at a CAGR of 4.5% during the forecast period 2022-2032.
2. Who are the key market players of Fire-resistant Coatings Market?Some of the key market players of 3M, Hempel A/S, The Sherwin-Williams Company, Hilti Group, AkzoNobel N.V, PPG, Kansai Paint Co.,Ltd, Jotun, Etex Group, GCP Applied Technologies Inc, Sharpfibre Limited, svt Holding GmbH, Rudolf Hensel Gmbh, Isolatek International Corporation, Contego International Inc., Isolatek International, envirograf passive fire products, no-burn inc., TEKNOS GROUP, CARBOLINE, Vijay Systems Engineers Pvt Ltd. among others.
3. Which segment hold the largest market share?Construction segment holds the largest market share is going to continue its dominance.
4. Which region is dominating the Fire-resistant Coatings Market?Asia Pacific is dominating the Fire-resistant Coatings Market with the highest market share.
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