The global intumescent coatings market size was valued at USD 927.6 million in 2018 and is anticipated to progress at a CAGR of 5.1% from 2019 to 2025. High product demand in the oil & gas sector owing to stringent regulations coupled with increasing shale gas exploration activities across the globe is likely to propel the market growth. Moreover, demand from the automotive segment is expected to fuel market growth over the forecast period.
Public transport and cargo vehicles are expected to dominate the market for intumescent coatings in the automotive segment. Stringent fire safety regulations set by different authorities across the globe will also contribute to the product demand. Rapid growth of aerospace and automotive industries coupled with increasing demand for fireproof residential and commercial structures is expected to have a positive impact on the market in U.S.
Increasing investments for shale gas exploration in U.S. is also likely to propel the product demand over the next nine years. Introduction of advanced thin film, light-weight intumescent coatings is expected to drive the demand further. The industry exhibits low threat of substitution by alternatives, such as vermiculite fire protection, on account of superior properties of the intumescent coatings. Increased awareness about fireproofing of residential buildings is likely to impel market growth over the forecast period.
Rapidly expanding construction sector and large-scale infrastructure developments in developing economies, such as India and Indonesia, are expected to have a positive impact on the product demand. Intumescent coatings have a high potential on account of its properties, such as durability and aesthetic appeal, which make them ideally suited for automotive and construction applications. However, volatility in the prices of raw materials is expected to restrain product demand to some extent.
Based on technology, the market has been segmented into water-, solvent-, and epoxy-based coatings. Water-based is expected to be the fastest-growing technology segment from 2019 to 2025. Stringent regulations about using fire protection in buildings are likely to boost the product demand. Regulations prohibiting the use of VOC paints for interior applications owing to higher toxicity and environmental impact are expected to boost the demand for water-based products. Solvent-based coatings are also anticipated to witness high demand in the coming years. These coatings are used in off-site applications in areas of low heat and high humidity to achieve decorative finish over complex shapes and for improved adhesion and high water resistance.
On the basis of application, the market has been segmented into hydrocarbons and cellulosic. Hydrocarbons is expected to be the fastest-growing segment over the forecast period. Increasing use of hydrocarbon intumescent coatings in industries including oil & gas and energy is likely to drive the product demand. Rapid acceptance of international standards for testing and certification of these products in the offshore market worldwide is also expected to propel the segment growth. Furthermore, high product demand in the construction industry, particularly in industrial and commercial buildings, coupled with increasing oil & gas explorations across the globe will contribute to the segment development.
On the basis of end use, the market has been segmented into construction, oil & gas, automotive, and others. In 2018, oil & gas held the largest share of the global market and is expected to continue its dominance over the forecast period. Rising investments in exploration activities, deep-water projects, marginal fields, and refining capacity expansion are expected to propel the product demand in this segment.
The construction segment accounted for a significant market share in 2018. It is likely to expand further at a strong CAGR from 2019 to 2025 due to rising awareness regarding personal safety coupled with the growing emphasis by regulatory bodies to implement fire protection systems in buildings.
Asia Pacific held the largest share of the global market in 2018 and will expand at the highest CAGR during the forecast years. This growth can be attributed to the rapid industrialization coupled with growing construction sector in the region. Rising awareness regarding fire safety is also anticipated to augment the product demand. Europe is expected to witness a limited growth on account of high market maturity. However, the development of advanced products coupled with rising product demand from automotive manufacturers is expected to drive the market in this region.
The market is fragmented in nature with the presence of a few key companies, such as AkzoNobel N.V, Jotun Group, Hempel Marine Paints, Null Fire, and Sherwin-Williams Company, and medium- and small-sized regional firms, such as Carboline; No-Burn, Inc.; and Albi Manufacturing. The market is highly competitive and the manufacturers compete on the basis of product quality and the technology used for production. They also emphasize on price differentiation as a major strategy in a bid to increase market share and follow an integrated approach to reduce costs and maximize profits.
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Attribute |
Details |
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Base year for estimation |
2018 |
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Actual estimates/Historical data |
2014 - 2017 |
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Forecast period |
2019 - 2025 |
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Market representation |
Revenue in USD Million and CAGR from 2018 to 2025 |
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Regional scope |
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa |
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Country scope |
U.S., Canada, Mexico, Germany, U.K., France, Spain, Denmark, Finland, Italy, Belgium, Netherlands, Russia, Sweden, Romania, Poland, China, Japan, India, Brazil, Argentina, Saudi Arabia, and South Africa |
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Report coverage |
Revenue forecast, competitive landscape, growth factors and trends |
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15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global intumescent coatings market report on the basis of technology, application, end use, and region:
Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Water-based
Solvent-based
Epoxy-based
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Hydrocarbons
Cellulosic
End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Oil & Gas
Construction
Automotive
Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Spain
Denmark
Finland
Italy
Belgium
Netherlands
Russia
Sweden
Romania
Poland
Asia Pacific
China
Japan
India
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
South Africa
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