DUBLIN--(BUSINESS WIRE)--The "Global Fireproofing Materials Market by Coating Type (Intumescent coatings - Thin film and Thick film, and Cementitious coatings - Cement-based and Gypsum based), End-use (Commercial, Industrial, and Residential) and by Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The fireproofing materials market size is estimated to be USD 0.9 billion in 2021 and is projected to reach USD 1.5 billion by 2026, at a CAGR of 9.8% between 2021 and 2026.
Factors such as increasing fire safety regulations will drive the fireproofing materials market. Rising environmental and health concerns due to the use of conventional chemicals in fireproofing materials regions is a major restraint. However, growing demand for developed intumescent fireproof and water-based coatings in construction will act as an opportunity for the market.
Intumescent coatings is estimated to be the largest coating type of fireproofing materials market in 2020
Intumescent coatings are broadly divided into thin film and thick film coatings. Thin-film intumescent coatings are either solvent-based or water-based and consist of three components a primer, a base coat, and a sealer coat. These coatings are majorly used to provide fire resistance in buildings. Thick film intumescent coatings are usually epoxy-based and typically have higher dry film thickness than thin film coatings. These materials are tough and durable and were originally developed for use for hydrocarbon fires wherein the test heating regime is significantly severe than that used for most industrial and commercial applications. These are majorly used for external steel in high-rise buildings and structures exposed to marine environments. This segment is estimated to be the largest and fastest-growing segment in the coating type as it is more durable than cementitious coatings.
Industrial was the second largest end use industry for fireproofing materials market in 2020
The fireproofing materials market size for the industrial segment accounted for the second-largest share of global fireproofing materials, in terms of value, in 2020 this was led by the demand from energy & power, manufacturing, oil & gas, petrochemical, and transportation & logistics industries. Industrial construction includes high use of steel. This end-use is further sub-divided into onshore and offshore. Onshore industrial end-use includes fireproofing coatings applied on the various steel assets in onshore oil & gas refining and chemical processing environments, including spheres, vessels, skirts, beams, and columns. In the offshore segment, fireproofing coatings are used for the protection of steel structures in liquid natural gas carriers, oil drilling ships, floating oil & gas production vessels, oil tankers, and naval vessels.
North America is estimated to be the largest fireproofing materials market in 2020, in terms of value.
North America was the largest market for fireproofing materials in 2020. It has been a leader in product innovation in terms of quality and the development of applications. The US is the key country in the region, accounting for the largest share of the market. It has high demand in both, residential and commercial construction and is expected to grow significantly during the forecast period, leading to the growth of the market in the region. The demand for fireproofing materials in North America is increasing in both, existing and new constructions. New codes and policies have made the application of fireproofing materials mandatory for existing commercial and industrial buildings.
Market Dynamics
Drivers
- Increasing Fire Safety Regulations
- Increasing Preference for Lightweight Materials in the Building & Construction Industry
- Rising Number of Fire Incidents
- New Rules for Green and Smart Buildings and Growing Focus on Obtaining Green Certifications
Restraints
- Economic Slowdown and the Impact of COVID-19 on the Construction Industry
- Rising Environmental and Health Concerns due to the Use of Conventional Chemicals in Fireproofing Materials
- Price Sensitivity in the Emerging Regions
Opportunities
- Development of More Effective Synergist Compounds
- Growing Demand for Developed Intumescent Fireproof and Water-Based Coatings in Construction Projects
Challenges
- Lack of Awareness and Non-Compliance to Regulations in the Emerging Markets
- Concerns Related to Coating Application and Durability
Companies Mentioned
- 3M
- Akzo Nobel N.V.
- Basf Se
- Carboline
- Contego International Inc.
- Den Braven
- Encon Insulation Ltd
- Etex Group
- Flameoff Coatings Inc (Us)
- Hempel Group
- Intumescent Systems Ltd
- Iris Coatings S.R.L.
- Isolatek International
- Jotun Group
- Knauf Insulation GmbH
- No-Burn Inc.
- Pk Companies (Us)
- Ppg Industries, Inc.
- Rockwool International As
- Rolf Kuhn GmbH
- Rpm International Inc.
- Sika Ag
- The Sherwin-Williams Company
- Ugam Chemicals
- W. R. Grace & Co.
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