Fire-resistant Coatings Market: Current Analysis and Forecast (2021-2027)

Fire-resistant Coatings Market: Current Analysis and Forecast (2021-2027)

The global Fire-resistant Coatings market is likely to showcase a growth of around 4% during the forecast period. Globally, a fire caused heavy losses to the economy of a country. Each year, countries are facing severe negative impacts like death and economic losses. Developing nations of MEA and Asia-Pacific regions are among the largest victims of the fire. As a result, stakeholders related to the fields are continuously developing strategies and creating new innovations to reduce the cases of fire. The fire-resistant coating is one of the products available in the market which can help slow the spread of fire, stop the spread of fire, reduce the fire intensity, and reduce the smoke a fire produces. Thus, reduces the losses that occur due to fire. For instance, according to U.S. Fire Administration, between 2017-2019, an estimated average of 34,200 heating fires in residential buildings were reported each year. It caused an estimated annual average of 165 deaths, 600 injuries, and USD 367 million in property loss. Using fire-resistant coating, these losses can be reduced.

Insights Presented in the Report

“Amongst type, the intumescent fire-resistant coatings segment held a prominent share in the market in 2020.”

Based on type, the market is categorized into intumescent and cementitious coatings. Among these, intumescent held the major market share as Intumescent coatings react to the fire by swelling to many times their original thickness, in the process producing an insulating char. This char protects the substrate, such as exposed structural steel or sheetrock, from the effects of the fire. Further, an intumescent coating can prevent structural steel from buckling or collapsing in high heat for a period of time that can allow evacuation from the building and firefighting efforts. These coating can withstand temperatures in the range of 200°C to 600°C for a period of time.

“Amongst technology, the water-borne technology accounted for a considerable share in the global fire-resistant coatings market

Based on technology, the market is categorized into water-borne, solvent-borne, and others. Among these, water-borne coating technology is likely to showcase substantial growth during the forecast period. This can be attributed to the increasing demand for environment friendly products. Further, globally, perception regarding solvent-based coatings is increasingly getting adverse as consumer are becoming more aware of the harmful effects of volatile organic compounds (VOC). Increasing awareness coupled with stringent government regulation is supporting the market of waterborne coatings which have a lower VOC content.

“Europe captured a significant position in the fire-resistant coatings market”

For a better understanding of the market adoption of Fire-resistant Coatings, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Europe accounted for a significant share in the market and is expected to showcase substantial growth during the forecast period owing to the stringent regulations related to fire safety, initiatives taken for sustainable industrial development, and a strong focus on protection against fire. Further, increasing focus on green and smart buildings and high per-capita income coupled with awareness among consumers regarding fire-resistant coatings are propelling the demand in the region.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country-level analysis of the industry

Customization Options:

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