Pune, India, Nov. 29, 2022 (GLOBE NEWSWIRE) -- The global intumescent coating market is likely to gain traction from its ever-increasing usage in fire protection. It is often applied to substrates, such as iron, wood, and steel. In standardized fire tests, the coatings for steel application must be thoroughly checked and approved in terms of the guidelines compiled by international standardization agencies. The governments of various countries worldwide are implementing stringent laws regarding fire and safety. It is set to affect the market positively.
This information is published by Fortune Business Insights™ in a report, titled, “The Global Intumescent Coating Market Size, Share & Industry Analysis, By Type (Thin-film, Thick-film), By End-use Industry (Aerospace, Oil & Gas, Building & Construction), and Regional Forecast, 2022-2029.”
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Competitive Landscape:
Key Companies Focus on Acquisitions & Investments to Strengthen Position
The market consists of a large number of small, medium, and big companies that are persistently striving to strengthen their position. Also, they are trying to gain the maximum intumescent coating market share by adopting strategies, such as investments in opening new production facilities and acquisitions.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Historical Data | 2018-2020 |
| Region Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the Rest of the World |
| Segments Covered | By Type (Thin-film, Thick-film) By End-use Industry (Aerospace, Oil & Gas, Building & Construction) |
| Intumescent Coating Industry Growth Drivers | High Growth Stoked by Strict Government Rules Regarding Fire & Safety |
| To Gain from their Rising Utilization in Fire Protection Reported Worldwide |
Highlights of the Report:
- In-depth analysis of the intumescent coating market trends, growth drivers, and obstacles.
- Extensive information about the competitive landscape including collaborations, partnerships, investments, mergers & acquisitions, novel product launches, and R&D.
- Details of the upcoming opportunities and challenges that the market may come across.
- Profiles of every possible key company operating in the market and their procured revenue.
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Fortune Business Insights™ provides a list of all the key players present in the intumescent coating industry. They are as follows:
- Contengo International Inc.
- PPG
- GCP Applied Technologies Inc.
- Jotun
- Flame Control Coatings
- Nippon Paint
- Demilec U.S.A. Inc.
- AkzoNobel
- Isolatek
- Carboline
- Sherwin-Williams
- Alibi Protective Coating
- Sika
- Other key market players
Drivers & Restraints:
Increasing Awareness Regarding Fire Safety to Drive Growth
A major factor that is likely to propel the intumescent coating market growth is the surging number of awareness campaigns regarding fire safety. Apart from that, the governments worldwide are putting forward numerous fire safety standards, codes, and rules. It would also contribute to the growth of the market during the forecast period.
However, intumescent coatings are expensive in nature. Therefore, people are gradually inclining towards cost-effective techniques of fire protection. Cementitious coatings are considered to be cheaper than intumescent coatings. But, they are not that efficient or reliable as compared to intumescent coatings. It may hamper the market growth.
Regional Analysis:
Asia Pacific to Remain at the Forefront Owing to Rapid Industrialization
The market is geographically divided into the Middle East & Africa, Europe, Latin America, North America, and Asia Pacific. Amongst these regions, Asia Pacific is anticipated to generate the largest intumescent coating market revenue in the coming years. This growth is attributable to the increasing number of construction activities, as well as rapid industrialization in this region. The developing nations, namely, Indonesia, India, and China are set to be the major contributors to growth.
Europe and North America are projected to showcase considerable growth owing to the imposition of stringent laws imposed by the governments regarding fire safety. The Middle East & Africa would exhibit good growth backed by the rising number of gas and oil exploration activities. Lastly, in Latin America, the market is likely to grow significantly stoked by the rising construction activities.
The intumescent coating market report offers clarifications on:
- What is the projected market worth?
- What policies are adopted by the enterprises?
- What are the key market trends, drivers, and restrictions?
- Which country or region holds the maximum share of the global market?
- What latest developments occurred in recent times?
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