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Intumescent Coatings Market to worth over $1 billion by 2024, hydrocarbons applications to observe highest gains

Intumescent Coatings Market to worth over $1 billion by 2024, hydrocarbons applications to observe highest gains

U.S. intumescent coatings market share is projected is predicted to witness noticeable growth over the next few years, owing to the its growing application in the aerospace industry.
Intumescent coatings market size in the automotive sector is projected to record highest gains over 2016-2024, owing to the rising need for protecting oil tubes in engine bay from high temperature.

Robust growth in the construction sector and increased government norms regarding fire safety will boost global Intumescent Coatings Market size. With prominent usage in fire safety and protection, intumescent coatings are primarily used in hazardous workplaces to ensure worker safety and protection against fatal injuries. According to Global Market Insights, Inc., “Intumescent Coatings Market was valued at USD 800 million in 2015, and is forecast to cross USD 1 billion by 2024, with a CAGR anticipation of 4% over 2016-2024.”

The governments of various countries across the globe are providing sufficient funds for the construction sector to upgrade the existing infrastructure. Intumescent coatings industry for the construction segment is estimated to increase at a CAGR of 5% over 2016-2024, driven by increased government funding, a strict regulatory framework, and rising commercial and residential projects. In addition, increased spending and high demand from the construction sector in countries such as India and China will propel APAC intumescent coatings market, which dominated the global landscape in 2015. The shale gas exploration projects in China will also stimulate regional demand.

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Growing environment concerns and rising government standards regarding GHG emissions will fuel water-based intumescent coatings industry. It is expected that this market will observe the highest annual growth rate over 2016-2024, primarily driven by its low VOC content and environment-friendly characteristics.

Rising product demand across the rapidly growing construction and automotive sectors will significantly boost intumescent coatings industry share from cellulosic applications, which is predicted to depict a y-o-y of 4.5% over 2016-2024.

Intumescent coatings find widespread applications in hazardous work environments for fire safety. Furthermore, its properties of corrosion and chemical resistance make it an excellent material for protecting steel and metal structures, owing to which it is widely used in the oil & gas sector. It is predicted that intumescent coatings market size for oil & gas sector, worth USD 400 million in 2015, will grow remarkably over 2016-2024, fueled by strict regulations regarding fireproofing at work. Stringent fire safety laws mandated by the government across the oil & gas sector and other hazardous industrial sectors, coupled with an exponential economic growth will positively influence U.S. intumescent coatings industry over the years to come. With U.S. being the chief revenue contributor, North America intumescent coatings market was worth more than USD 150 million in 2015. Government norms and high product demand across end-use industries will heavily boost the regional growth over 2016-2024. 

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Hydrocarbons applications are poised to witness the highest gains over the years ahead, driven by the essential requirement for fire safety and protection across the petrochemical and power generation industries.

More than 50% revenue share of this highly consolidated market is held by the top six powerful participants. Notable industry players include Contego International, 3M Company, Flame Control, Herwin-Williams, AkzoNobel, Jotun, Rudolf Hensel, Albi Manufacturing, Carboline, PPG Industries Inc., Albi Manufacturing, Leighs Paints, Null Fire, Crown Paints, and Hempel.

Browse key industry insights spread across 108 pages with 201 market data tables & 18 figures & charts from the report, “Intumescent Coatings Market” in detail along with the table of contents:

https://www.fractovia.org/news/industry-research-report/intumescent-coatings-market

Browse Related Report

  • Pretreatment Coatings Market By Product (Pre-paint Conversion Coatings [Iron Phosphate, Zinc Phosphate, Chromate, Chromate Free, Blast Media] , Anti-corrosive Coatings, Metalworking Fluids, Cleaners, Final Seals [Chromium-Phosphate, Corrosion Inhibitors]), By End-Use (Aerospace [Commercial Aviation {Airlines, General Aviation}, Military], Automotive, General Industry, Coil, Cold Forming, Metal Packaging), By Application (Metal, Aluminum, Zn-Al Alloys & Die Castings), Regional Outlook (U.S., Germany, UK, France, Italy, Russia, Poland, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Brazil), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024

https://www.fractovia.org/news/industry-research-report/pretreatment-coatings-market

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