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Global intumescent coatings market size is expected to reach US$1.11bn by 2022, according to a new study by Grand View Research, Inc. Construction industry growth is anticipated to drive the market growth of intumescent coatings. Rapid industrialisation coupled with rising infrastructure development particularly in India and Indonesia. Furthermore, rising oil & gas and shale gas exploration in the South China Sea is expected to drive market growth in Asia Pacific.
Construction was the fastest growing end-use segment at a CAGR of 5.2% from 2014 to 2022. Stringent regulations regarding fire safety in buildings coupled with growing emphasis on building aesthetics is expected to drive demand for intumescent coatings in the construction segment.
Further key findings from the study suggest:
Hydrocarbons dominated the application segment, accounting for 50.2% of global market revenue in 2014. Rising shale gas explorations coupled with increasing oil and gas refinery plants in expected to drive demand for hydrocarbon coatings over the forecast period.
Rising demand for cellulosic coatings in automotive segment on account of superior fire protection and better aesthetics is expected to have a positive impact on the global market.
Asia Pacific was the largest market, accounting for 33.3% of market revenue in 2014. Growing housing sector in China and India in light of increasing urbanisation and population growth is expected to fuel intumescent coatings market over the forecast period.
Europe is expected to witness sluggish growth at a CAGR of 3.9% between 2015 and 2022 owing to slump in the construction industry in the region. However, moderate growth in the region is expected to be fuelled by development of Eastern European countries.
North America intumescent coatings market accounted for more than 18% of global revenue in 2014 and is expected to grow at a CAGR of 4.8% over the forecast period. Rising demand for hydrocarbon intumescent coatings on account of growing shale gas exploration and production in the region is expected to augment market growth over the next seven years.
Major intumescent coatings manufacturers include companies such as: AkzoNobel, Jotun Group, Contego International Inc, Hempel Marine Paints, No-Burn Inc, Null Fire, Sherwin-Williams, Carboline, Albi Manufacturing and Leighs Paints. Expansion of refining capacity in the Middle East coupled with growing shale gas production in the USA is expected to ensure demand for intumescent coatings over the projected period.
For the purpose of this study, Grand View Research has segmented the global intumescent coatings market on the basis of product, application and region:
Global Intumescent Coatings Application Outlook (Volume, Kilo Tons; Revenue, US$M, 2012 – 2022)
• Cellulosic
• Hydrocarbons
Global Intumescent Coatings End-Use Outlook (Volume, Kilo Tons; Revenue, US$M, 2012 – 2022)
• Construction
• Oil & gas
• Automotive
• Others
Global Intumescent Coatings Regional Outlook (Volume, Kilo Tons; Revenue, US$M, 2012 – 2022)
• North America – USA
• Europe – Germany; UK
• Latin America – Brazil
• Asia Pacific – China; India
• MEA
About Grand View Research: Grand View Research, Inc is a market research and consulting company that provides off-the-shelf, customised research reports and consulting services. To help clients make informed business decisions, it offers market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.
