Global Intumescent Coatings Market By Technology (Epoxy-based, Solvent-based, and Water-based), By Application (Cellulosic and Hydrocarbon), By End-Use, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Intumescent Coatings Market Overview

Intumescent Coating’s worldwide market was valued at USD 1.03 Billion in 2021. This market is expected to grow at a CAGR of 5.4% between 2023 and 2032.

The intumescent coating forms a protective layer by chemical reaction and acts as an insulation layer. Intumescent coatings can be used for fireproofing structural membranes and buildings. They are sometimes referred to as intumescent coatings and are used in buildings as a passive fire retardant measure.

Global Intumescent Coatings Market Analysis

Technology Analysis

The Epoxy-based technology segment dominated the market and was responsible for 58% of the global revenues in 2021. Epoxy-based, intumescent coatings offer superior passive fire protection. They provide an insulation barrier in case of a fire. These coatings remain inert at room temperatures but will develop thick layers of char when heated up. This improves insulation during a fire.

These intumescent coatings, which are solvent-based, are used in offshore oil & gas applications that have low heat and high humidity. They can be applied to large surfaces with high thicknesses, unlike water-based coatings. Solvent-based intumescent coats are able to produce decorative finishes over complicated shapes. They have excellent adhesion and high water resistance. High cost and high VOC levels are expected to limit solvent-based Intumescent Coatings segment growth.

Application Analysis

Cellulosic applications dominated the market and represented a high revenue share in 2021. By providing heat-resistant layers, cellulosic coatings can be used to protect exposed steel structures. Intumescent coatings are expected to grow in popularity, particularly in commercial and industrial buildings. The segment growth is also expected to be encouraged by the increasing attention paid to various safety and health organizations regarding workplace safety. Market growth is expected to be boosted by increasing industrialization and rising infrastructure development activities, especially in the Asia Pacific and the Middle East regions. The market will be boosted by stricter regulations regarding fire protection in buildings, which are set forth by regulatory agencies.

End User Analysis

Oil & Gas was the largest market segment in the End-Use segment for 2021. The segment will see an increase in product demand due to increased investments in deep-water projects and marginal fields as well as refining capacity expansion. The market will also see increased government attention to fire safety regulations and increasing exploration activities. The growth of the oil & gas sector is expected to be driven by increasing utilization of gas as an energy mix and rising shale production. This is expected to drive market growth. Due to their superior resistance to high temperatures, epoxy-based coatings have been favored in the oil and gas industry.

Key Market Segments

By Technology

• Epoxy-based
• Solvent-based
• Water-based

By Application

• Cellulosic
• Hydrocarbon

By End-Use

• Automotive
• Oil & Gas
• Construction
• Other End-Uses

Market Dynamics

Market growth will be driven by high product demand in the oil & gas sectors. This is due to stringent regulations and the increase in exploration activities around the world. The market will also see growth in the construction segment. Oil and gas companies use intumescent coats to provide fire protection for offshore and onshore steel structures at temperatures above 1,100degC. They also protect structural steel from chemical and moisture exposures that can make it brittle. These coatings are resistant to pool fires as well as jet fires.

Intumescent coatings will be in high demand as the industry grows. The rising demand for energy, including shale gas, tight and coal bed methane, is expected to be a key driver for the market for the intumescent coated market. The demand for intumescent coated products will be driven by global investments in oil & gas platforms and drilling equipment maintenance. Intumescent coatings demand will rise over the forecast period due to increased investments in the U.S. shale gas exploration.

Demand will continue to grow with the introduction of lightweight, thin-film intumescent coatings and advanced thin films. The market is likely to grow due to increased awareness regarding the fireproofing and safety of residential buildings. The market is also expected to grow due to rising demand for cellulosic and intumescent coats to protect reinforced steel structures in buildings.

Regional Analysis

The Asia Pacific dominated intumescent coatings markets and was responsible for 36.0% of the total global revenue in 2021. The region’s proximity to raw materials suppliers and the rapid industrialization and urbanization of India and China are all factors that will likely increase the demand for intumescent coats. Low VOC emissions and the availability of raw materials have created huge opportunities for the growth of various end-uses in the region. Asia Pacific’s emerging nations have low labor costs, which attracted many foreign investors to invest in their manufacturing facilities. As a result, there is a growing demand for intumescent coatings in the region.

Key Regions and Countries covered in thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Global players face fierce competition from regional players as well as those with established supply chain networks and are familiar with the regulations and suppliers in their respective markets. Market players are now focusing on strengthening their position through strategic initiatives, such as geographic expansion, new product launches, mergers, and acquisitions, or partnerships. Jotun’s high-performance epoxy intumescent coating Steel Master 1200HPE was launched in April 2022. The new intumescent coat provides protection from the cellulosic flame for infrastructure buildings for 120 minutes.

Market Key Players:

• Akzo Nobel N.V.
• Contego International Inc.
• Carboline
• Jotun
• No-Burn Inc.
• Hempel A/S
• The Sherwin-Williams Company
• Nullifire
• Other Key Players

For the Intumescent Coatings Market research study, the following years have been considered to estimate the market size: