With industrialisation showing no signs of slowing down, the need for having proper safety regulations in place is also highlighted. Incidences of fire hazards, electric burns, and similar instances continue to generate demand for materials that aid in mitigating any potential fatalities in similar accidental incidents. This will remain the prime factor generating demand for intumescent coating, says a new report in the pipeline of Fairfield Market Research. The report projects epoxy-based coating to remain the top-selling category. On account of its economic, and technical advantage, epoxy-based intumescent coatings will continue to be at the forefront of demand in the global intumescent coating market.
Growing Inclination toward Proper Fire Safety Management to Accelerate Market Expansion
Increasing concerns around the lack of sufficient planning related to proper construction practices, and infrastructure that promotes fire prevention and mitigation have been repeatedly highlighting the associated potential risks. An increasing number of authorities, and institutions showcasing their willingness to invest in the necessary precautionary measures as a step toward improved fire hazard safety management. This according to the report will stimulate the growth of intumescent coating market.
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Demand from Construction Industry Continues to Proliferate
Predominantly adopted for its firefighting abilities, intumescent coating also makes a sought-after choice in construction projects for its resistance against heavy rains, corrosion, and adverse weather. It also finds wide application in new construction projects, both residential and commercial, and renovation/redevelopment projects owing to its high service life. Increasing awareness about functional, and commercial advantages of using intumescent coating is expected to sustain demand in the near future. With building safety garnering greater attention, opportunities are likely to spring up for intumescent coating manufacturers.
North America Continues to Lead its Way in Global Intumescent Coating Market
Over the recent past, there have been records of massive industrial losses due to fire hazards. While this has been compelling industries to make it point first to adopt recommended industry-specific fire safety measures, this is likely to supplement the demand for intumescent coating solutions. In line with the growing stringency of fire safety regulations in North America, especially the US, demand for intumescent coatings continues to take off. The steadily increasing number of domestic construction projects in the region, and the consistently accelerating oil and gas explorations further uplift the adoption potential of intumescent coatings in the North American market.
Competition Analysis – Intumescent Coating Market
Some of the leading companies operating in global intumescent coating market, include Contego International Inc., AkzoNobel, Hempel A/S, Demilec Inc., 3M, and Sika AG. The report dedicates a section to competition analysis of the global market for intumescent coating market that covers the exclusive insights on the strategic and financial profiles of the most prominent players driving competition in the market.
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Intumescent coatings have the capability to protect materials from fire and its resulting damage.
Its applications include fire-stopping pillows, window casings, and gasketing.The Intumescent Coatings Market is poised to grow due to demand from various industries.
A common regulatory standard is an effective barrier against market players attempting to invest in other regions.The global market is segmented according to raw material, end-users, and regions.
Raw materials dependent on producing these coatings are hydrocarbon or cellulosic based.
The former have large market shares, while the latter will exhibit a high growth rate due to its application across marine, automotive, and construction industries.
Hydrocarbon coatings have significant returns in terms of revenue due to their increased use in oil & gas sector.Browse Details of Report @ https://www.hexaresearch.com/research-report/intumescent-coatings-marketEnd-users entail automotive, construction, and oil & gas sectors.
24 Oct 2018 – The Global Intumescent Coatings Market size is expected to value at USD 1.31 billion by 2025.The intumescent coatings market is subject to witness a substantial growth due to the growing construction activities, rapid urbanization, increasing population and growing infrastructural spending by both developing and developed economies across the globe.
Growing constructional activities such as shopping malls and business parks, particularly in the developing economies across the Asia Pacific region such as India, China, Malaysia, Thailand and Singapore are expected drive the growth of the intumescent coatings market in the upcoming years.
Globally, the intumescent coatings market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the intumescent coatings technology. Intumescent coating, which is commonly known as intumescent paint, is majorly used in during various construction activities for passive fire resistance.
Europe Passive Fire Protection Market is anticipated to reach USD 1.57 billion by 2022 owing to growing warehouse industry that extensively uses steel in structure fabrication.
Passive fire protection are the building material that offer safety & protection against heat, smoke, toxic gases and flames.
These materials reduce the damage of the building inflicted with fire, delay the building collapse time and reduce probable health risks of the building habitats.
Hence, it offers strength to the building to survive fire for stipulated time and ensures safety of the occupants.Europe passive fire protection industry is influenced by the increase in demand for longer building protection against fire along with least loss of assets present during the calamity.
Additionally, increasing infrastructural developments coupled with growing demand for decorative intumescent coatings is expected to augment Europe passive fire protection market in future.
Steady growth observed in infrastructural developments from residential and non-residential sectors due to migrant activities is encouraging the growth of Europe passive fire protection industry.
