New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The Global Intumescent Coatings Market reached USD 1.1 billion in 2022 and is expected to reach USD 1.6% billion by 2030 and is expected to grow with a CAGR of 5.2% during the forecast period 2023-2030. The market is primarily propelled by two major factors. Firstly, there is a growing demand from the oil and gas industry, which serves as a significant driving force. Secondly, the market is experiencing increased growth due to substantial investments in the construction and automobile sectors. These factors together are fueling the expansion of the Intumescent Coatings market.
Globally, the major players in the Intumescent Coatings Market include BASF, Akzo Nobel N.V., Albi Protective Coating, Carboline, 3M, Contego International Inc, Hempel A/S, Jotun, Isolatek International, No-Burn Inc., PPG Industries, and many others.
DataM Intelligence’s Global Intumescent Coatings Market report provides insights on the current and forecast market analysis, individual leading Intumescent Coatings companies’ market shares, challenges, Intumescent Coatings market drivers, barriers, trends, opportunities and key market Intumescent Coatings companies in the market.
| Metrics | Details |
| CAGR | 5.2% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2023-2030 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Application, End-User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
Global Intumescent Coatings Market Trends
As per DataM estimates, North America is anticipated to hold the largest share of the global Intumescent Coatings market during the forecast period.
The Intumescent Coatings market is experiencing robust growth, primarily driven by the increasing demand from the oil and gas industry.
These coatings play a vital role in protecting steel structures from chemicals, moisture and high temperatures during gas and oil exploration.
The rise in shale gas exploration in the US and other countries, being considered a greener alternative to coal, has further fueled the demand for Intumescent Coatings.
Moreover, the exploration of other oil and gas resources, such as tight gas and coal bed methane, also contributes to the market's expansion.
Additionally, the market growth of Intumescent Coatings is supported by the demand from the construction, industrial and automobile sectors.
In developing countries like India and China, rapid urbanization and a large population have led to an increased demand for residential and commercial construction in urban areas.
As a result, the need for Intumescent Coatings in these sectors has surged, further driving the overall market growth.
Get a sneak peek at the Intumescent Coatings Market dynamics for a better understanding.
Intumescent Coatings Market Segmentation
| Segment | Sub-segment |
| By Technology |
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| By Resin |
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| By End-use |
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| By Application |
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Due to less strict regulations regarding VOC content in the Asia-pacific region compared to the North-American region and Europe and easy availability of raw materials is driving the market for Intumescent Coatings in various industries like construction, marine and automobile.
Asia Pacific Intumescent Coatings Market Will be the Fastest-growing Market in the Global Market
The Intumescent Coatings market in the Asia-Pacific region is witnessing rapid growth, attributed to less stringent regulations regarding VOC content compared to North America and Europe, along with the easy availability of raw materials.
This has driven the demand for Intumescent Coatings in various industries, including construction, marine and automobile. The region's dominance is further fueled by the increasing adoption of Intumescent Coatings in the construction and automobile industries.
Notably, the establishment of multinational corporations (MNCs) in countries like China and India, along with initiatives like India's Smart Cities Mission, has significantly contributed to the market's expansion.
To know more about why North America is leading the market growth in the Intumescent Coatings market, get a snapshot of the market Click here.
Intumescent Coatings Market Challenges
The volatility in raw material prices and the impact of the COVID-19 pandemic have hindered market growth. Additionally, the use of solvent-based coatings in offshore oil and gas operations, while efficient for large surface areas and high thickness, poses challenges due to their high cost and volatile organic compounds (VOC) content.
To comply with strict VOC emission regulations in North America and Europe, the market has seen a shift towards water-based coatings.
Despite this transition, water-based coatings require a longer application process involving multiple coats and the building of dry film to achieve optimal steel fire protection. Moreover, they may exhibit lower water resistance compared to solvent-based coatings.
Know the competitive analysis among the key players of the Intumescent Coatings Market as they are set to emerge as trendsetters in the industry.
Table of Contents
| 1 | Report Methodology and Scope |
| 2 | Report Definition and Overview |
| 3 | Executive Summary |
| 4 | Market Dynamics |
| 5 | Industry Factors |
| 6 | COVID-19 Analysis |
| 7 | Intumescent Coatings Market Segments and Region |
| 8 | Global Company Share Analysis – 10 Key Companies |
| 9 | Intumescent Coatings Market Company and Product Profiles |
| 10 | About DataM |
Interested in knowing how the Intumescent Coatings market grows by 2030? Click to get a snapshot of the Intumescent Coatings Market Trends
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