Intumescent Coatings Market Application Outlook (Revenue, USD Million; 2014 - 2025)

The growing adoption of international standards in certification and testing of these products can drive the segment’s growth. In addition, the growing number of oil and gas exploration activities and high product demand in the construction industry will segment growth. On the basis of end-use, the intumescent coating industry can be classified into oil & gas, automotive, construction, and others. The oil and gas segment is predicted to hold the largest market share over the forecast period. This is attributed to increasing investments in deepwater projects, exploration activities, marginal fields, and refining capacity expansion.

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On the contrary, the automotive sector is likely to witness significant growth in the coming years. Growing awareness among people regarding the benefits of fire protection systems in buildings will drive the segment’s growth.

Regional segmentation includes Asia Pacific, North America, Europe, Central & South America, and Middle East & Africa. In the Asia Pacific, the market is predicted to dominate and hold the largest market share during the forecast period. The rising number of construction activities in emerging economies including China and India can drive product demand in coming years. In addition, the growth of the automotive and aerospace sectors will drive regional market growth.

Europe, on the other hand, is anticipated to witness significant growth in coming years owing to the highest number of safety regulations regarding fire protection and fire safety. Such regulations are likely to drive demand for fireproof paints. Some of the key players in the intumescent coating market are Jotun, Sherwin-Williams, AkzoNobel, Contego International, and Hempel Marine Paints. Companies are adopting business strategies such as mergers and acquisitions to expand their product portfolio. In addition, companies are using advanced technology for production to gain a competitive edge over others.

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