Intumescent coatings are used as passive fire resistance in buildings and infrastructure sector. Intumescent is a fire stopping pillow or putty that expands significantly when exposed to high temperatures, and act as an insulator that keeps fire away from structural members.
Rapid development in construction sector and increasing number of oil & gas exploration projects across the globe are major factors driving growth of the global intumescent market. Major factors hampering growth of the global intumescent coatings market is high cost and stringent government regulations on use of chemicals with high VOC emission.
The global intumescent coatings market is segmented on the basis of technology, application, end-user industry, and region. On the basis of technology, the global market is segmented into solvent borne, waterborne, and powder-based. The waterborne segment accounts for highest share in the global market. On the basis of application, the global market is segmented into hydrocarbons and cellulosic. The cellulosic segment is expected to witness highest growth over the forecast period.
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On the basis of end-use industry, the global market is segmented into oil & gas, construction, automotive, and others. The oil & gas segment accounts for highest share in terms of revenue in the global market. The construction segment is projected to register highest growth in terms of revenue during the forecast period.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts for significant share in the global market and is expected to witness significant growth over the forecast period. The Asia Pacific intumescent coatings market is expected to witness highest growth over the next 10 years.
Key players in the global market are BASF SE, PPG Industries, Akzonobel N.V., RPM International Inc., The Sherwin-Williams Company, Jotun Group, Contego International Inc., Albi Manufacturing, Flame Control Coatings, LLC., Wacker Chemie AG, Hempel Marine Paints, and other prominent players.