Intumescent Coatings Market by Type (Thin-Film, Thick Film), Substrates (Structural Steel & Cast Iron, Wood), Application Technique (Spray, Brush & Roller), End-use Industry (Building & Construction, Industrial), and Region - Global Forecast to 2023
“The intumescent coatings market is projected to grow at a CAGR of 4.3% from 2018 to 2023”
The intumescent coatings market is expected to grow from an estimated USD 900.1 million in 2018 to USD 1,110.0 million by 2023, at a CAGR of 4.3% from 2018 to 2023. The increasing demand for intumescent coatings across various end-use industries, including building & construction and industrial segments is expected to drive the growth of the intumescent coatings market across the globe. Factors, such as increasing awareness, regulations, and emphasis regarding safety measures for the building & construction industry as well as the increasing preference for lightweight materials in the building & construction industry are driving the demand. Use of low-cost alternatives is expected to restrain the demand for intumescent coatings.
“Thick-film intumescent coatings segment is projected to grow at the highest CAGR during the forecast period 2018 to 2023”
The thick-film intumescent coatings segment is projected to grow at the highest CAGR between 2018 and 2023. Thick-film intumescent coatings are tough and durable and were originally developed for use with hydrocarbon fires, where the test heating regime is much more severe than that used for most industrial and commercial applications. The growing industrial end-use industry segment is projected to increase the demand for thick-film intumescent coatings globally.
“The intumescent coatings market in the Middle East & Africa (MEA) is projected to grow at the highest CAGR during the forecast period 2018 to 2023”
The intumescent coatings market in the MEA is projected to grow at the highest CAGR between 2018 and 2023. The increasing demand for intumescent coatings from building & construction and industrial end-use industry segments in the region is fueling the growth of the intumescent coatings market. In addition, establishment of new manufacturing facilities owing and diversification of the oil-dependent economy of the region is projected to create high demand for intumescent coatings in the region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments.
The break-up of primary interviews is given below.
By Company Type: Tier 1 - 55%, Tier 2 - 25%, and Tier 3 - 20%
By Designation: C Level - 50%, Director Level - 25%, and Others - 25%
By Region: North America - 60%, Europe - 20%, Asia Pacific - 10%, South America - 5%, and the Middle East & Africa - 5%
The companies profiled in this market research report are AkzoNobel (Netherlands), PPG (US), Jotun (Japan), The Sherwin-Williams Company (US), and Hempel (Denmark).
This research report has categorized the intumescent coatings market on the basis of type, substrates, application technique, end-use industry, and region. It includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the market. A detailed analysis of key players was undertaken to provide insights on their business overviews, products & services offered, and key strategies, such as new expansions, new product launches, and acquisitions adopted by them to strengthen their positions in the intumescent coatings market.
Reasons to buy the report:
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report comprehensively segments the intumescent coatings market and provides the closest approximations of the market sizes for the overall market and its subsegments across different regions.
2. The report is expected to help stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report is also expected to help stakeholders understand major competitors in the market and gain insights to enhance their competitive positions in the market.