Global Intumescent Coatings Market to Grow at a CAGR of XX% During the Period 2017 – 2024
Intumescent coatings market share is predicted to exceed a revenue of USD 1 billion by 2024. The investment in construction activities is growing considerably across the globe, which will fuel industry growth. Worldwide spending on infrastructural developments will be more than USD 13 trillion over the coming seven years. Widespread end-user industries such as oil & gas, chemical, and automotive require intumescent coatings on large scale for fire protection and fireproofing applications.
Moreover, the global organizations such as German Institute for Standardization, American Society for Testing and Materials (ASTM), and British Standards Institute (BSI) have filed strict regulations regarding fire protection, which in turn, will stimulate industry share over the forecast years.
Raw material such as epoxy resin, graphite, and sodium silicate are not produced on a large scale globally, other than India and China. The shortage of these raw materials in the near future will restrict the industry growth.
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Intumescent Coatings Market By Applications
Application segment covers Cellulosic and hydrocarbons.
Intumescent coatings in hydrocarbon are prominently used for fireproofing and fire protection across petroleum industries. This segment is predicted to exhibit highest growth rate over the estimated period of 2016 to 2024, mainly driven by its increasing demand across the petrochemical and power generation sector.
Cellulosic application segment will record a significant growth rate over the forecast years, owing to its growing requirement across the end-use industries such as automotive and construction.
Intumescent Coatings Market By End-Users
The end-user segment comprises Automotive, Construction and Oil & Gas sectors.
Intumescent coatings market in the construction sector will register an annual growth rate of more than 5% over the forecast timeline. Huge investments by the government organizations to improve their infrastructure will boost the product demand. Furthermore, ongoing commercial and residential construction activities will also contribute considerably toward industry share.
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Intumescent Coatings Market By Technology
The technology segment can be divided as Solvent Based, Epoxy Based, and Water Based.
Solvent based intumescent coatings market was worth approximately USD 120 million in 2015, and is anticipated to witness substantial growth over the coming years. Strict environmental rules and regulations will augment the industry growth.
Water based intumescent coatings industry will exhibit highest growth rate over the forecast period of 2016 to 2024, owing to the stringent government norms to reduce VOC content along with increasing awareness about hazardous emissions.
Intumescent Coatings Market By Regions
The regional landscape covers the various countries across the North America, Latin America, Asia Pacific, Europe, and MEA.
Asia Pacific intumescent coatings industry is predicted to generate highest revenue over the forecast years. India and China will be the prominent revenue pockets of the APAC. Construction sector across this region is expanding vastly, which will surge the demand for intumescent coatings.
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Global Intumescent Coatings Market Research Report Forecast 2017 to 2021
The Global Intumescent Coatings Market Research Report Forecast 2017-2021 is a valuable source of insightful data for business strategists. It provides the Intumescent Coatings industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable).
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