Intumescent Coatings Market Size, Share & Trends Analysis Report By Technology (Water-based, Solvent-based, Epoxy-based), By Application (Hydrocarbon, Cellulosic), By End-Use (Construction), By Region And Segment Forecasts, 2022 - 2030

Report Overview

The global intumescent coatings market size was estimated at USD 1,100.79 million in 2021 and projected to expand at a CAGR of 5.5% from 2022 to 2030. High product demand in the oil & gas sector, owing to stringent regulations, coupled with rise in exploration activities across the globe is likely to propel the market growth. Moreover, the demand from construction segment is expected to fuel market growth during the forecast period. Intumescent coatings are used in the oil & gas industry to provide fire protection to onshore and offshore steel structures at high temperatures of 1,100°C and above. They are also used to protect structural steel from moisture and chemical exposures, which makes the steel brittle. These coatings provide protection against pool fires and jet fires. Increasing energy demand is expected to fuel oil & gas industry, which, in turn, is expected to drive the demand for intumescent coating throughout the forecast period.

Ascending demand for energy, shale gas, tight gas, and coal bed methane (CBM) on account of the maturity of conventional oil & gas resources market is expected to emerge as a major driving factor for the growth of intumescent coatings market. Increased global investments in the maintenance and repair of oil & gas drilling devices and platforms are also anticipated to drive the demand for intumescent coatings. In addition, increasing investments for shale gas exploration in the U.S. is also likely to propel the product demand during the next seven years.

Introduction of advanced thin film, light-weight intumescent coatings are expected to drive the demand further.  Increased awareness about the fireproofing of residential buildings is likely to impel market growth during the forecast period. Furthermore, rising demand for cellulosic intumescent coatings to protect the structural integrity of reinforced steel in buildings is expected to augment the market growth during the forecast period.

Technology Insights

Epoxy-based technology segment led the market and accounted for more than 61.0% share of the global revenue in 2021. Epoxy-based intumescent coatings exhibit superior passive fire protection by providing an insulation barrier in the event of a fire. These coatings are inert at room temperature but when subjected to elevated temperature, they develop a thick layer of char, which improves the level of insulation in the event of a fire.

Solvent-based intumescent coatings are primarily employed in offshore oil & gas applications in low heat and high humidity areas. They can be applied to large surface areas with high thickness compared to water-based coatings. Furthermore, solvent-based intumescent coatings are used to achieve decorative finishes over complex shapes and exhibit improved adhesion along with high water resistance. However, high cost coupled with high VOC content is expected to have a negative impact on the solvent-based intumescent coating segment growth.

Application Insights

Cellulosic application segment led the market and accounted for more than 53.0% share of the global revenue in 2021. Cellulosic intumescent coatings are majorly used in construction industry to protect the uncovered steel structures and facilitate escaping at the time of fire accidents by providing heat resistant layers. The growing demand for intumescent coatings in construction industry, particularly in industrial and commercial buildings, is expected to propel the market growth.

Furthermore, rising pressure from various health and safety organizations regarding human safety in workplace is expected to promote segment growth during the forecast period. Growing industrialization coupled with rising infrastructure development activities, particularly in Asia Pacific and Middle East region is anticipated to augment the market growth throughout the forecast period. In addition, stringent norms for fire protection in buildings laid down by regulatory bodies are expected to boost the demand for cellulosic intumescent coatings during the forecast period.

End-user Insights

Oil & gas end-use segment led the market and accounted for more than 44.0% share of the global revenue in 2021. Rising investments in exploration activities, deep-water projects, marginal fields, and refining capacity expansion are expected to propel the product demand in this segment. In addition, growing government emphasis to conform to stringent fire safety regulations and rising exploration activities in the industry are expected to propel the market growth during the forecast period.

Increasing utilization of gas in energy mix and growing shale gas production are expected to fuel the growth of oil & gas industry over the forecast period. This, in turn, is expected to propel the market growth. Epoxy-based coatings are majorly preferred in oil & gas industry owing to their ability to withstand higher temperatures compared to its counterparts.

Regional Insights

Asia Pacific dominated the intumescent coatings market and accounted for over 34.0% share of the global revenue in 2021. Factors such as the presence of numerous end-users, proximity to raw material suppliers, and rapid industrialization & urbanization, especially in India and China, are anticipated to boost the demand for intumescent coatings in the region. The availability of raw materials coupled with low stringent laws regarding VOC emissions as compared to North America and Europe has offered huge opportunities for the development of end-use sectors such as construction, automotive, marine, and others in the region.

The emerging nations of Asia Pacific have low labour costs, which attracted several foreign investors to set up their manufacturing facilities in the region. Thus, the growing number of manufacturing facilities is projected to boost construction activity in the region, which, in turn, is anticipated to propel the demand for intumescent coatings during the forecast period.

Key Companies & Market Share Insights

The global players face intense competition from each other as well as from the regional players who have well-established supply chain networks and are well aware of the regulations and suppliers in their market.

Market players are focusing on strengthening their positions by adopting strategic initiatives such as geographical expansion, new product launches, mergers & acquisitions, and partnerships. For instance, in April 2022, Jotun launched a high-performance epoxy intumescent coating named Steel Master 1200HPE. The new intumescent coating provides protection against cellulosic fire for infrastructure buildings for up to 120 minutes. Some of the prominent players in global intumescent coatings market include: 

• Akzo Nobel N.V.

• Jotun

• Contego International Inc.

• Hempel A/S

• No-Burn Inc.

• Nullifire

• The Sherwin-Williams Company

• Carboline

• Albi Protective Coatings

• Isolatek International

• Flame Control Coatings

• Rudolf Hensel GmbH

• PPG Industries, Inc.

• 3M

• Sika AG

• Tor Coatings

Intumescent Coatings Market Report Scope

Segments covered in the report

This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the global Intumescent Coatings Market report based on the technology, application, end-use, and region:

• Technology Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • Water-based

  • Solvent-based

  • Epoxy-based

• Application Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • Hydrocarbon

  • Cellulosic

• End-use Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • Construction

  • Oil & Gas

  • Automotive

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Spain

    • Denmark

    • Finland

    • Italy

    • Belgium

    • Netherlands

    • Russia

    • Sweden

    • Romania

    • Poland

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa