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Global intumescent coatings market is projected to amass significant gains owing to a shift in consumer perception

Author : Ravi Chawat | Published Date : 2021-01-27 

Based on estimated from a report published by Global Market Insights, Inc., intumescent coatings market was estimated at $985 million in 2019 and is expected to surpass $1.3 billion by 2026, registering a CAGR of 4.8% from 2020 to 2026. The report offers an in-depth analysis of the market size & estimations, drivers & opportunities, wavering market trends, competitive scenario, top winning strategies and major investment pockets.

Surge in renovation and construction activities alongside persistent investment efforts towards infrastructure modernization is likely to accelerate intumescent coatings market growth over the estimated timeframe. The products are used extensively to reinforce steel bars, columns and standings, as well as to offer superior resistance to environmental vulnerabilities including air, moisture and chemicals. Furthermore, increasing high-rise building constructions and strict government mandates to curb fatalities from fire breakouts will add impetus to industry expansion.

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Intumescent coatings industry demand is witnessing a considerable rise on a global scale as a result of stringent regulatory initiatives and mandates for fire safety compliance. Superior resistance characteristics of the product also augment their demand from the oil & gas segment, which is anticipated to exceed $690 million by 2026, due to growing financial interest in exploration activities.

Key reasons for intumescent coatings market growth

  • Burgeoning financial interest in exploration activities in oil & gas segment
  • Evolving modernization and urbanization trends and rising demand for high-quality fire safety-compliant materials in construction landscape
  • Shift in fire safety perceptions alongside proliferating construction of high-rise buildings

2026 forecasts show the automotive segment gaining prominence

Based on end-user, the automotive segment is projected to depict a sizeable CAGR of over 4.5% through 2026. This is owing to the rapid rise in demand for high performance vehicles that comply with stringent security parameters. The use of solvent based intumescent coatings is significantly high in passive fire protection applications, particularly for off-sight applications which require high heat and humidity resistance.

APAC to witness sizeable growth

Based on geography, Asia Pacific intumescent coatings market is anticipated to register a commendable growth rate of over 5% CAGR through 2026, as a result of rising construction activities, both residential and commercial.

Likewise, the rising construction of residential and commercial buildings across Europe, coupled with increasing investment efforts towards refurbishment of old buildings is likely to impel intumescent coatings market share. Furthermore, growing customer propensity towards fire proofing of residential buildings is also expected to foster industry growth in the region.

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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