Market Size of Intumescent Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 1.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Intumescent Coatings Market Analysis
The Intumescent Coatings Market size is expected to grow from 170.87 kilotons in 2023 to 187.73 kilotons by 2028, at a CAGR of 1.90% during the forecast period (2023-2028).
The COVID-19 pandemic negatively impacted the market. However, the market is reaching pre-pandemic levels and is expected to grow steadily during the forecast period.
- Increasing construction activities in emerging economies of Asia-Pacific and growth in oil and gas exploration activities are augmenting the growth of the market studied.
- Rising prices of raw materials are likely to hinder the market's growth.
- Growing shale gas production is projected to act as an opportunity for the market in the future.
Intumescent Coatings Industry Segmentation
The intumescent coating layer expands and produces a 'char,' which insulates the material inside from flames by cutting off the oxygen necessary for combustion. Due to these properties, intumescent is used as a coating material to protect substances from heat and fire damage. The intumescent coatings market is segmented by application, end-user industry, and geography. By application, the market is segmented into cellulosic and hydrocarbon. The market is segmented by the end-user industry into construction, automotive and other transportation, oil and gas, and other end-user industries. The report also covers the market size and forecast for the intumescent coatings market in 16 countries across major regions. For each segment, the market sizing and forecast have been done based on volume (tons).
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| Cellulosic | |
| Hydrocarbon |
| End-user Industry | |
| Construction | |
| Automotive and Other Transportation | |
| Oil and Gas | |
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Intumescent Coatings Market Size Summary
The intumescent coatings market is poised for steady growth, driven by increasing construction activities in emerging economies, particularly in the Asia-Pacific region, and the expansion of oil and gas exploration activities. The market is recovering from the setbacks caused by the COVID-19 pandemic and is expected to reach pre-pandemic levels. However, the rising costs of raw materials pose a challenge to market expansion. The oil and gas industry, a significant end-user, relies on intumescent coatings for fire protection and corrosion resistance in high-temperature and harsh environmental conditions. The growth of shale gas production presents future opportunities for the market, especially in regions experiencing heightened offshore drilling activities.
In India, the construction sector is witnessing rapid growth, supported by government investments and the expansion of commercial real estate, particularly in the IT sector. The automotive industry is also contributing to market growth, with significant increases in vehicle production and electric vehicle sales. Government initiatives like "Aatma Nirbhar Bharat" and "Make in India" are expected to further bolster the automotive sector, enhancing the demand for intumescent coatings. The market is consolidated, with major players such as Jotun, AkzoNobel NV, PPG Industries, The Sherwin-Williams Company, and Hempel AS holding significant market shares. These factors collectively position India as a dominant force in the Asia-Pacific intumescent coatings market.
Intumescent 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 in Emerging Economies of Asia-Pacific
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1.1.2 Growth in the Oil and Gas Exploration Activities
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Rise in Prices of Raw Materials
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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 Application
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2.1.1 Cellulosic
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2.1.2 Hydrocarbon
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2.2 End-user Industry
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2.2.1 Construction
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2.2.2 Automotive and Other Transportation
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2.2.3 Oil and Gas
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2.2.4 Other End-user Industries
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Russia
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Intumescent Coatings Market Size FAQs
What is the current Intumescent Coatings Market size?
The Intumescent Coatings Market is projected to register a CAGR of 1.9% during the forecast period (2024-2029)
Who are the key players in Intumescent Coatings Market?
Jotun, The Sherwin-Williams Company, Hempel AS, AkzoNobel NV and PPG Industries Inc. are the major companies operating in the Intumescent Coatings Market.
