The global cellulosic fire protection intumescent coatings market size is expected to reach USD 587.3 million by 2028 according to a new study by Polaris Market Research. The report “Cellulosic Fire Protection Intumescent Coatings Market Share, Size, Trends, Industry Analysis Report, By Type (Water Borne, Solvent Borne); By End-Use; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing application of cellulosic fire protection intumescent coatings in residential and commercial buildings, development in industrialization and urbanization, and rising investment in the construction industry drive the growth of the market. However, the COVID-19 outbreak has restricted the market growth for cellulosic fire protection intumescent coatings. The pandemic has adversely affected the construction sector, resulting in reduced demand, disruption of the supply chain, a halt in manufacturing and construction activities, and workforce impairment.
The different types of coatings include water-borne and solvent-borne. The demand for water-borne the product is expected to be high during the forecast period. These coatings offer a higher ability to protect against fire. They are increasingly being used in the construction sector to meet the standards and regulations associated with fire safety. Industry players, manufacturers, and private organizations collaborate to expand and cater to more comprehensive applications and develop advanced technologies.
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On the basis of end-use, the market is segmented into commercial, residential, and others. The commercial segment accounted for the highest share in 2020 due to increasing environmental awareness coupled with government investments in public infrastructure development.
The development of smart buildings further supports the demand growth. Economic growth and strengthening the construction sector in developing economies are expected to offer growth opportunities during the forecast period. North America dominated the global cellulosic flames protection intumescent solutions demand in 2020 and is likely to have its dominance over the forecast period. However, the demand from Asia-Pacific is expected to grow during the forecast period.
Rising industrial growth, urbanization, and growth in the construction sector support industry development in this region. The introduction of flames safety and protection regulations further increases the demand for the product in Asia Pacific. Some major industry participants include PPG Industries, Inc., Teknos Group Oy, Hempel A/S, Jotun Group, Sika AG, Akzo Nobel N.V., RPM International Inc, The Sherwin-Williams Company, Isolatek International, Contego International Inc., Etex Group, and 3M.
Polaris Market Research has segmented the cellulosic fire protection intumescent coatings market report on the basis of type, end-use, and region:
Cellulosic Fire Protection Intumescent Coatings, Type Outlook (Revenue, USD Million, 2016 – 2028)
Cellulosic Fire Protection Intumescent Coatings, End-Use Outlook (Revenue, USD Million, 2016 – 2028)
Cellulosic Fire Protection Intumescent Coatings, Regional Outlook (Revenue, USD Million, 2016 – 2028)