Intumescent Coatings Market Size, Share & Trends Analysis Report By Type (Water-based, Solvent-based, Epoxy-based), By Application (Hydrocarbon, Cellulosic), By End-use (Construction, Oil & Gas, Automotive), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global intumescent coatings market size was estimated at USD 1.14 billion in 2022 and projected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 - 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, demand from the construction segment is expected to fuel market growth over the forecast period. Intumescent coatings are used in 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 make 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 in 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 over 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 over 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 over the forecast period.

However, volatility in the prices of raw materials is expected to restrain product demand to some extent. In addition, the recent outbreak of COVID-19 across the globe has led to weakened product demand in automotive, construction, oil & gas and others end-use industries. Factors such as stoppage of construction projects, movement restriction,labor shortage; reduction in discretionary spending by consumers, weak consumer sentiment, halt or slowdown in production activities, and disruption across the supply chain aimed COVID-19 is negatively impacting the growth of end-use industries especially automotive and construction. This in turn is further expected to hamper the demand of intumescent coatings.

Type Insights

Epoxy based technology segment led the market and accounted for more than 58% share of the global revenue in 2022.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 55% share of the global revenue in 2022.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. 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 over 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 over 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 over the forecast period.

End-use Insights

Oil & gas end-use segment led the market and accounted for more than 43% share of the global revenue in 2022.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 over 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% share of the global revenue in 2022. 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 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 has attracted several foreign investors to set up there 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 over the forecast period. However, increasing COVID-19 positive cases in countries such as India, China, Indonesia, Singapore and others has led to stoppage or slowdown in construction activities which in turn is projected to impact the product demand in construction industry in the region.

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, mergers & acquisitions, partnerships and new product launch. For instance, in In June 2022, the company launched a new product called Hempafire XTR 100, a hydrocarbon passive fire protection coating with key applications in the oil & gas industry. Some 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

• Rudolf Hensel GmbH

• PPG Industries, Inc.

• 3M

• Sika AG

• Tor Coatings

Recent Developments

• In May 2023, Akzo Nivel NV launched a bisphenol-free internal coating to provide coil coaters and can makers with an alternate coating for meeting the demands of sustainable and safe intumescent coatings

• In April 2023, Nullifire unveiled the latest Nullifire FZ100 Fire Safe Zone for providing fire protection at off-sire construction sites. It is an intumescent coating that expands on exposure to high temperature, thus creating a protective barrier for building structure and occupants

• In February 2023, PPG Industries Inc. launched PPG STEELGUARD® 951. It is an innovative intumescent fire protection coating that provides three hours of protection from cellulosic fire, and effective corrosion

• In June 2022, Hempel A/S launched Hempafire XTR100 for providing hydrocarbon passive fire protection. It is an intumescent coating designed for the oil and gas sector, and provides UL 1709-certified fire protection

• In April 2022, Jotun launched SteelMaster 1200 HPE which is a high-performance intumescent coating. It provides protection against cellulosic fibres for up to 120 minutes

• In September 2021, No-Burn Inc. announced its partnership with Huntsman Building Solutions to make no-burn intumescent coatings available to contractor customers for purchase. Hence, contractor customers will gain fire protection solutions while using spray polyurethane foam insulation

Intumescent Coatings Market Report Scope

Global Intumescent Coatings Market Report Segmentation

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 2018-2030. For this study, Grand View Research has segmented the global intumescent coatings market report based on type, application, end-use, and region:

• Type Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Water-based

  • Solvent-based

  • Epoxy-based

• Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Hydrocarbon

  • Cellulosic

• End-use Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Construction

  • Oil & Gas

  • Automotive

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 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