Global Intumescent Coatings Market 2017-2021
About Intumescent Coatings
Intumescent coatings are paint like materials, which are used to provide protection against fire. They can provide insulation even at a temperature up to 392-482°F. At these temperatures, the intumescent coatings swell up and provide protection to the underlying substrates such as steel, timber, and others. Intumescent coatings are broadly classified into thin and thick films. The thin film intumescent coatings are used for cellulosic fires, whereas, the thick film intumescent coatings are used for hydrocarbon fires. In addition, these intumescent coatings are also based on different technologies such as water-borne, solvent-borne, and epoxy.
Technavio’s analysts forecast the global intumescent coatings market to grow at a CAGR of 4.94% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global intumescent coatings market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Intumescent Coatings Market 2017-2021
Technavio recognizes the following companies as the key players in the global intumescent coatings market: Akzo Nobel, Contego International, Hempel, Jotun, RPM International, and The Sherwin-Williams Company.
Other Prominent Vendors in the market are: BASF, Bollom, Clariant, Flame Control Coatings, Isolatek International, 3M, No-Burn, OMNOVA Solutions, PPG Industries, Rudolf Hensel, StanChem, Sika, and Wacker Chemie.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is High demand for nano coatings. Established vendors in the market are increasing the expenditure on R&D to capture a larger proportion of the market share through new product introductions. The incorporation of nanoparticles in the coating technologies is a relatively new concept in the market. In the global intumescent coatings market, nano coatings are widely used for various substrates such as steel, timber, and others to provide multilayer protection against fire explosions.”
According to the report, one of the major drivers for this market is Growth of infrastructural developments in emerging countries. The global construction industry is growing at a faster pace due to a major contribution from the emerging countries. In terms of revenue, the global construction industry was valued $8.82 trillion in 2016, which was only $7.91 trillion in 2012. By 2025, the industry is expected to generate a revenue of approximately $14.98 trillion. In 2016, the emerging countries in APAC and ROW had accounted for 51.9% of the total market share and are likely to account for 62.5% by 2025. The governments of these regions are investing significantly on infrastructural developments such as residential homes, roads, hospitals, and complexes to suit the changing life style, urbanization, and migration.
Further, the report states that one of the major factors hindering the growth of this market is High investment and technical challenges in offshore exploration. In the global intumescent coatings market, the offshore oil and gas exploration segment is a major end-use application segment. In offshore rigs and FPSOs, intumescent coatings are extensively used for fire protection. Due to new technological advances, new offshore extraction areas have become accessible. However, there are several challenges of deep-water and ultra-deep-water projects.
Akzo Nobel, Contego International, Hempel, Jotun, RPM International, The Sherwin-Williams Company, BASF, Bollom, Clariant, Flame Control Coatings, Isolatek International, 3M, No-Burn, OMNOVA Solutions, PPG Industries, Rudolf Hensel, StanChem, Sika, and Wacker Chemie.