Global Intumescent Coatings Market is Growing at a Significant Rate in the Forecast Period 2019-2026

According to Data Bridge Market Research new Market report, global intumescent coatings market will account to an estimated USD 896.92 million in 2018 growing at a CAGR of 4.5% during the forecast period of 2019 to 2026.

Global Intumescent Coatings Market

Global Intumescent Coatings Market

Intumescent coatings are applied on the substrates or surfaces for the prevention of fire and fire safety on the buildings and construction sites. The coatings expand upon coming in contact with high-temperature environment or fire. When the surface or substrate upon which the coatings are applied on comes into contact with any high-temperature component a thermochemical reaction takes place and the coatings expand and cover the surface, preventing it from catching fire and protecting against any damage. It is majorly a delaying mechanism so that the proper fire extinguishing activities can be carried out.

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Segmentation: Global Intumescent Coatings Market

Global intumescent coatings market is segmented on the basis of type, substrate, resin, technology, application, application technique, end-user and geography.

By Type (Thin-Film Intumescent Coatings, Thick-Film Intumescent Coatings), Substrate (Structural Steel & Cast Iron, Wood, Others), Resin (Acrylic, Epoxy, Polyurethane, Alkyd, Others), Technology (Water Based, Solvent Based, Epoxy Based, Powder Based), Application (Hydrocarbons, Cellulosic), Application Technique (Brush/Roller, Spray), End-User (Building & Construction, Industrial, Aerospace, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

FACTORS DRIVING GROWTH IN INTUMESCENT COATINGS MARKET

Increasing levels of urbanization

According to United Nations, around 55% of the global population currently resides in urban areas as of 2018. Projections to this data suggest that by the year of 2050, this percentage of population could rise to 68%.

This high share and projected rise of the share of the population living in the urban areas is expected to be one of the major factors for the growth of the market, as high levels of urbanization induces rise in the construction and various other end-use industries which employ the use of intumescent coatings for its fire-resistant characteristics.

Global Intumescent Coatings Market

Key Market Competitors: Global Intumescent Coatings Market

Few of the major competitors currently working in the intumescent coatings market are Akzo Nobel N.V., PPG Industries Inc., Jotun, The Sherwin-Williams Company, HEMPEL A/S, Promat International NV, Kansai Paint Co.Ltd., Teknos Group, 3M, Carboline Company, TREMCO ILLBRUCK, BASF SE, Contego International Inc., Isolatek International, GCP Applied Technologies Inc., Envirograf, Albi Protective Coatings, Arabian vermiculite industries, No-Burn Inc., SKK Pte. Ltd., Demilec USA Inc., Monarch Industrial Products, Gangotri Hi-Tech Coatings, Rudolf Hensel GmbH and Benjamin Moore & Co.

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Global Intumescent Coatings Market is Growing at a Significant Rate in the Forecast Period 2019-2026

Segmentation: Global Intumescent Coatings Market