According to a new report by Transparency Market
Research (TMR), the global market for intumescent coatings
demonstrates a moderately concentrated competitive landscape. Akzo
Nobel N.V., PPG Industries Inc., and Sherwin-Williams Co. are the top
three players in this market and collectively, they acquired nearly
45% of the overall market in 2015.
These leading market players are continuously making
efforts to maximize their share through the establishment of new
manufacturing facilities. Intumescent coatings manufacturers are
expected to involve actively in joint ventures and strategic business
partnerships in the near future, which is likely to increase the
competition in this market, states the research report.
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overview of the Intumescent Coatings market. Browse through 30 data
tables and 87 figures to unlock the hidden opportunities in this
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As per the study, the opportunity in this market,
which was US$372.9 mn in 2015, is expected to rise at a healthy 7.0%
CAGR over the period from 2016 to 2024 and reach US$675.5% mn by the
end of the forecast period. Currently, the demand for epoxy-based
coatings is higher than others. Researchers anticipate this trend to
remain so over the next few years.
Building and Construction Sector to Surface as
Leading End User of Intumescent Coatings
The report considers the building and construction,
oil and gas, transportation, and the consumer electronics sectors as
the main application areas of intumescent coatings. Among these, the
demand for intumescent coatings is significantly high in the building
and construction sector. As per the analysts, the scenario is likely
to remain so over the forecast period. The oil and gas industry is
also expected to surface as a prominent application area of these
coating in the near future, thanks to the increasing number of
off-shore projects across the world.
In terms of the regional presence, the research
report segments the worldwide market for intumescent coatings into
Europe, North America, the Middle East and Africa, Latin America and
Asia Pacific. With a share of more than 40%, Asia Pacific led the
global market in 2015. Thanks to the rise in building and
construction activities, fueled by the increasing urbanization and
industrialization, the demand for intumescent coatings in this region
is likely to remain high throughout the forecast period, ensuring the
regional market’s lead.
China is likely to emerge as the leading domestic
market for intumescent coatings in Asia Pacific in the near future.
Apart from China, the demand for these coatings is also expected to
increase in the ASEAN region and several other nations, such as India
and Japan over the next few years, notes the market study.
Increasing Building and Construction Activities to
Fuel Demand
“The growth of the building and construction
industry is the key factor behind the substantial rise in the demand
for intumescent coatings across the world,” states a research
analyst at TMR. The increasing population and the swift rise in
urbanization and industrialization are resulting into a high number
of construction projects. As consumers are highly concerned about the
safety of buildings from fire and excessive heat, building
contractors are increasingly adopting these coatings, since they can
extend the life of structural steels for a certain time and prevent
the building from collapsing.
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key trends impacting this market@
In addition, the implementation of stringent
government regulations on fire safety is likely to boost the global
market for intumescent coatings remarkably over the next few years.
However, the scarcity of titanium oxide may hamper the market’s
growth in the years to come, states the research report.
The study presented here is based on a report by
Transparency Market Research (TMR), titled “Intumescent Coatings
Market (Resin Type - Acrylic, Epoxy, and Polyurethane; Fire Type -
Cellulosic and Hydrocarbon; Technology - Water-based, Solvent-based,
and Powder-based; Application - Building & Construction, Oil &
Gas, Transportation, and Consumer Electronics) - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024.”
The global intumescent coatings market has been
segmented as follows:
By Resin Type
- Acrylic
- Epoxy
- Polyurethane
- Others
By Fire Type
- Cellulosic
- Hydrocarbon
By Technology Type
- Water based
- Solvent Based
- Powder Based
By Application Type
- Building & Construction
- Oil & gas
- Transportation
- Consumer electronics
- Others
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
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techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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