Market Size of Fire Retardant Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Fire Retardant Coatings Market Analysis
The Fire Retardant Coatings Market is expected to grow at a CAGR of more than 5 % during the forecast period.
The COVID-19 pandemic hampered the market, as lockdowns, social distances, and trade sanctions triggered massive disruptions to global supply chain networks. The construction industry witnessed a decline due to the halt in activities. However, the condition recovered in 2021 and was expected to benefit the market during the forecast period.
- Major factors driving the market studied are increasing construction activities globally and growth in oil & gas exploration activities.
- However, the availability of low-cost alternatives for some applications hinders the market's growth.
- The strong rise in shale gas production will likely act as an opportunity for the markeglobal marketed the market across the globe with the largest consumption in a country such as China, India, etc.
Fire Retardant Coatings Industry Segmentation
Fire retardant coatings are non-combustible chemicals applied in residential, commercial, and industrial buildings to reduce the spread of fire. Fire retardants inhibit or delay the spread of fire by suppressing the chemical reactions in the flame.
The Fire Retardant Coatings Market is segmented by technology, resin type, coating type, end-user industry, and geography. By technology, the market is segmented into water-borne, solvent-borne, powder coatings, and others. By resin type, the market is segmented into silicone, epoxy, acrylic, vinyl, and other resin types. By coating type, the market is segmented into the intumescent coating and cementitious coating. By end-user industry, the market is segmented into building & construction, power, transportation, oil & gas, and others. The report also covers the market size and forecasts for the fire retardants coatings market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Resin Type | |
| Silicone | |
| Epoxy | |
| Acrylic | |
| Vinyl | |
| Other Resin Types |
| Technology | |
| Water-borne | |
| Solvent-borne | |
| Powder Coatings | |
| Others |
| Coating Type | |
| Intumescent Coating | |
| Cementitious Coating |
| End-user Industry | |
| Building & Construction | |
| Power | |
| Transportation | |
| Oil & Gas | |
| Others |
| Geography | |||||||
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Fire Retardant Coatings Market Size Summary
The Fire Retardant Coatings Market is poised for significant growth, driven by increasing global construction activities and advancements in oil and gas exploration. The market experienced disruptions due to the COVID-19 pandemic, which affected supply chains and led to a temporary decline in the construction sector. However, recovery began in 2021, setting the stage for future growth. The construction industry remains the dominant segment, particularly in the Asia-Pacific and North American regions, where infrastructure projects are on the rise. Fire retardant coatings play a crucial role in enhancing fire safety by minimizing damage and preventing fire outbreaks, thereby supporting the growing demand in these regions. The market is also influenced by the availability of low-cost alternatives, which pose challenges to growth, but opportunities arise from the increasing production of shale gas.
The Asia-Pacific region is expected to be the fastest-growing market for fire retardant coatings, fueled by robust construction activities in countries like China, India, and Vietnam. These nations are investing heavily in infrastructure development, which is anticipated to drive the demand for fire retardant coatings. The market's expansion is supported by government initiatives and significant investments in construction projects across the region. In addition to the construction sector, the market is characterized by a consolidated landscape with major players such as 3M, Akzo Nobel N.V., RPM International Inc, PPG Industries, Inc., and The Sherwin-Williams Company. Recent product innovations and strategic acquisitions, such as PPG Industries' launch of a new epoxy intumescent fire protection coating and Sherwin-Williams' acquisition of Sika AG's European industrial coatings business, highlight the dynamic nature of the market and its potential for continued growth.
Fire Retardant Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Construction Activities Across the Globe
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1.1.2 Growth in Oil & Gas Exploration Activities
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1.2 Restraints
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1.2.1 Availability of Low-Cost Alternatives
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Resin Type
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2.1.1 Silicone
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2.1.2 Epoxy
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2.1.3 Acrylic
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2.1.4 Vinyl
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2.1.5 Other Resin Types
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2.2 Technology
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2.2.1 Water-borne
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2.2.2 Solvent-borne
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2.2.3 Powder Coatings
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2.2.4 Others
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2.3 Coating Type
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2.3.1 Intumescent Coating
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2.3.2 Cementitious Coating
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2.4 End-user Industry
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2.4.1 Building & Construction
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2.4.2 Power
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2.4.3 Transportation
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2.4.4 Oil & Gas
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2.4.5 Others
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2.5 Geography
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2.5.1 Asia-Pacific
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2.5.1.1 China
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2.5.1.2 India
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2.5.1.3 Japan
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2.5.1.4 South Korea
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2.5.1.5 Rest of Asia-Pacific
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2.5.2 North America
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2.5.2.1 United States
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2.5.2.2 Canada
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2.5.2.3 Mexico
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2.5.3 Europe
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2.5.3.1 Germany
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2.5.3.2 United Kingdom
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2.5.3.3 Italy
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2.5.3.4 France
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2.5.3.5 Rest of Europe
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2.5.4 South America
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2.5.4.1 Brazil
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2.5.4.2 Argentina
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2.5.4.3 Rest of South America
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2.5.5 Middle East & Africa
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2.5.5.1 Saudi Arabia
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2.5.5.2 South Africa
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2.5.5.3 Rest of Middle East & Africa
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Fire Retardant Coatings Market Size FAQs
What is the current Fire Retardant Coatings Market size?
The Fire Retardant Coatings Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Fire Retardant Coatings Market?
3M, Akzo Nobel N.V., RPM International Inc, PPG Industries, Inc and The Sherwin-Williams Company are the major companies operating in the Fire Retardant Coatings Market.
