Intumescent Coatings Market:Increasing demand for intumescent coatings in oil & gas industry is expected to drive market growth

Posted On Jan, 16, 2017

The demand for intumescent coatings is expected to be driven by the rising consumption by the rapidly developing construction industry. The demand is also expected to be driven by the stringent regulations pertaining to fire safety, mandated by the regulatory bodies across the globe.

The success of shale gas in the U.S has led to rapid development of the application market in North America. In addition, rising demand oil as fuel is expected to propel the growth of oil & gas industry in Asia Pacific. Increasing explorations in shale gas coupled with the rise of the oil & gas industry is expected to augment demand for intumescent coatings by 2025.

Global intumescent coatings demand by region (%)

Intumescent Coatings Market

The demand for intumescent coatings is expected to be driven by the growing use by the automotive industry. The demand is expected to be driven by the use of the product in automotive engines as a passive fire protection. Furthermore, rising demand for automobiles, primarily in Asia Pacific and Central & South America due to increased spending is expected to benefit the market growth.

Asia Pacific accounted for the major consumption share to increasing investments, particularly in the aerospace segment. Furthermore, infrastructure developments planned over the next few years by various governments particularly in aerospace and marine segment are expected to propel demand for intumescent coatings over the forecast period.

The demand for intumescent coatings in Europe is expected to be driven by the presence of stringent regulations pertaining to safety against fires in commercial, industrial, and residential buildings. In addition, the presence of committees and alliances such as Fire Safe Europe (FSEU) aimed at improvement of the safety standards is expected to drive the market growth.

The market in Germany is expected to grow on account of the initiatives undertaken by the manufacturers to increase the durability of the water-based coatings. In addition, rising demand for advanced coatings such as self-cleaning and biocidal coatings is expected to benefit the market.

Water-based intumescent coatings were commercially made available in 1990 and have registered high growth owing to various benefits over solvent-based intumescent coatings. These coatings provide fire ratings in between 30 minutes to three hours with some formulations lasting for over four hours. Water-based coatings are ideal for internal applications owing to the absence of VOC.

The market exhibits a high level of forward integration by companies across the value chain owing to decrease overall cost and subsequently increase profit margins. Carboline has lost market share over the last few years owing to significant growth by various competitors. Hempel accounted for the highest growth in the market on account of rapid acquisitions.

  In-depth report on global intumescent coatings market by Grand View Research:

http://www.grandviewresearch.com/industry-analysis/intumescent-coatings-industry

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