Intumescent Coatings Market Growth Analysis | 2023-2028

Market Insights

The intumescent coatings market was estimated at USD 889.63 million in 2022 and is likely to grow at a CAGR of 4.25% during 2023-2028 to reach USD 1147.46 million in 2028.

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Market Dynamics

Introduction

Intumescent coatings are fire-resistant materials applied to surfaces like steel structures and building materials. When exposed to high temperatures during a fire, they expand to form an insulating, protective layer. This expansion creates a barrier that slows down heat transfer and prevents structural damage, enhancing fire resistance. Intumescent coatings are vital for passive fire protection in buildings, bridges, tunnels, and other structures, helping to delay the spread of fire and providing critical time for evacuation and firefighting. They come in various forms, including paints, sprays, or dry films, and are rated based on their fire resistance duration, such as 30, 60, 90, or 120 minutes, by local building codes and safety regulations.

Market Drivers

Intumescent coatings are extensively used in industries such as construction, industrial, and aerospace to prevent substances against heat and fire impairment. An intumescent coating plays a vital role in the event of a fire by acting as a protective barrier for substrates against fire, thus providing enough time for rescue and evacuation.

Key factors driving the growth of the market are:

• Rising awareness
• Stringent government regulations
• The growing importance of safety measures
• Increasing demand for lightweight materials in the building and construction industry

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Key Players

Some of the key players in the market are:

• AkzoNobel
• PPG Industries, Inc.
• The Jotun Group
• The 3M Company
• The Sherwin-Williams Company 
• Hempel A/S
• Promat International NV
• Kansai Paint Co., Ltd.
• Teknos Group Oy
• Carboline

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Type

The intumescent coatings market is segmented as thin-film and thick-film-based intumescent coatings. The thin-film segment is projected to lead the market during the forecast period, owing to its extensive usage in the building and construction industry for passive fire protection.

By Substrate Type

The market is classified as structural and cast iron, wood, and others. The structural steel and cast-iron segments are expected to witness the highest growth during the forecast period, owing to the revival of the construction industry in North America and Europe and the expanding construction sector in the Middle East and Asia-Pacific. Steel and cast iron are the predominant materials used in the construction industry.

By End-Use Industry Type

The market is segmented into building and construction, industrial, aerospace, and others. The building and construction industry is expected to lead the market during the forecast period, owing to the rising awareness and regulations regarding fire protection.

Regional Analysis

In terms of regions, Asia-Pacific is likely to project the highest growth during the forecast period. China, Malaysia, Indonesia, South Korea, Japan, and India are the growth engines of the region’s market. Economic development in the developing economies, increasing disposable income of consumers, and rising urbanization have led to an increase in infrastructure, building, and construction projects in the region, which in turn, is driving the market for intumescent coatings. North America and Europe are the other major markets with substantial growth opportunities, owing to the revival of the construction industry in these two regions after the global subprime crises and Euro debt crises.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s intumescent coatings market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our intumescent coatings market report from the industry stakeholders, we have tried to further accentuate our research scope to the intumescent coatings market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The intumescent coatings market is segmented into the following categories:

By Type

• Thin Film
• Thick Film

By Substrate Type

• Structural Steel and Cast Iron
• Wood
• Others

By Application Technique Type

• Spray
• Brush & Roller

By End-Use Industry Type

• Building & Construction
• Industrial
• Aerospace
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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