The global intumescent coatings market size is expected to reach USD 1.31 billion
by 2025, according to a new report by Grand View Research, Inc. It is projected
to expand at a CAGR of 5.1% over the forecast period. Extensive usage of
passive fire protection for steel structures used in offshore and onshore
extraction and purification and refining in the oil & gas industry is the
key factor boosting the market growth. In addition, rising shale gas
exploration coupled with expanding oil & gas industry in Asia Pacific is
expected to propel demand over the forecast period. The industry is
characterized by the presence of a large number of raw material suppliers
leading to an increase in the switching ability of the manufacturers and high
bargaining power.
However, volatile prices of the raw
materials, such as epoxy resins is expected to restrain the growth to some
extent. Moreover, several regulations limiting the presence of Volatile Organic
Compounds (VOCs) in the formulation will also hinder market growth. On the
other hand, development of advanced products that are compliant with the
regulations set by the European Commission is expected to drive the demand over
the next nine years. The market in Asia Pacific witnessed a significant
expansion owing to increased oil & gas exploration activities, particularly
in the South China Sea. Furthermore, infrastructure development in emerging
economies including India, Indonesia, and Vietnam is likely to contribute to
the market development over the forecast period.
Access Research Report of Intumescent Coatings
Market @ https://www.grandviewresearch.com/industry-analysis/intumescent-coatings-industry
Further key findings from the study suggest:
· Water-based coatings is expected to be the
fastest-growing technology segment of the global intumescent coatings market
from 2019 to 2025
· Oil & gas end-use segment held the
largest share of the market in 2018 and is expected to continue its dominance
over the forecast period
· Asia Pacific was the largest market in 2018
and is projected to expand further at the highest CAGR during the forecast
years
· Cellulosic is projected to be the largest,
as well as the fastest-growing, application segment over the next few years
Grand View Research has segmented the
global intumescent coatings market on the basis of technology, application, end
use, and region:
Intumescent Coatings Technology Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Water-based
·
Solvent-based
·
Epoxy-based
Intumescent Coatings Application Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Hydrocarbons
·
Cellulosic
Intumescent Coatings End Use Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Oil & Gas
·
Construction
·
Automotive
·
Others
Intumescent Coatings Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
France
o
Spain
o
Denmark
o
Finland
o
Italy
o
Belgium
o
Netherlands
o
Russia
o
Sweden
o
Romania
o
Poland
·
Asia Pacific
o
China
o
Japan
o
India
·
Central & South America
o
Brazil
o
Argentina
·
Middle East & Africa
o
Saudi Arabia
o
South Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range of
industries, from technology to chemicals, materials and healthcare.
