The global fire-resistant coatings market size is expected to reach USD 1,377.9 Million by 2030 according to a new study by Polaris Market Research. The report “Fire-resistant Coatings Market Share, Size, Trends, Industry Analysis Report, By Type (Intumescent, Cementitious); By Technology (Water-borne, Solvent-borne); By Substrate (Metal, Wood, Others); By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A number of factors such as the growth of the building & construction sector; the emergence of fire-resistant coatings solutions that meet fire prevention standards by different countries; and rising awareness, supportive regulations, and increased emphasis on fire safety measures drive the growth of the global market. On the other hand, the absence of harmful solvents in water-based intumescent coats and much lower as well as compliant Volatile Organic Content (VOC) as compared with the solvent-based fire-resistant coatings.
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For instance, environmental bodies such as Registration, Evaluation, Authorization & restriction of Chemicals (REACH) of the European Union and the U.S. Environmental Protection Agency (U.S. EPA) are actively mandating the usage of low VOC coats. Hence, ongoing demand for eco-friendly water-based intumescent coats is expected to create lucrative growth opportunities for the industry.
The cementitious type segment is anticipated to witness a considerable growth rate during the forecast period. Cementitious fire-resistant coatings are naturally fire-resistant and offer sufficient fire insulation for a period. The growth of this segment is mainly driven by the rising usage of low-cost cementitious coatings across developing countries and growing applications in dry environments. In addition, the proliferation of lightweight cementitious fireproofing based on inexpensive raw materials is expected to create opportunities for growth of this segment in the forecast year.
Asia Pacific is anticipated to witness the highest growth in the global market. Growing awareness and the emphasis on safety measures in countries such as India and China fuel the growth of the market in this region. In addition, emerging urban development projects in China have created lucrative growth opportunities for the industry.
Market participants such as Rpm International, Albi Manufacturing, Hempel A/S, Arabian Vermiculite, Contego International, Akzonobel N.V., Etex Group, Jotun Group, PPG Industries, Promat International, Rudolf Hensel GmbH, Sika AG, Envirograf, Teknos Group, and The Sherwin-Williams Company are some of the key players operating in the global market. Players in the global industry are adopting a number of strategies to expand their geographical presence, develop new applicant tracking systems, and generate novel revenue streams.
For instance, in February 2022, McLaren Racing, a British motor racing team, extended and expanded its long-running partnership with AkzoNobel to deepen the 13-year relationship and explore new possibilities in the areas of technological innovation, sustainability, and product development.
Polaris Market Research has segmented the fire-resistant coatings market report on the basis of type, technology, application, substrate, and region:
Fire-resistant Coatings, Type Outlook (Revenue - USD Million, 2018 - 2030)
Fire-resistant Coatings, Technology Outlook (Revenue - USD Million, 2018 - 2030)
Fire-resistant Coatings, Application Outlook (Revenue - USD Million, 2018 - 2030)
Fire-resistant Coatings, Substrate Outlook (Revenue - USD Million, 2018 - 2030)
Fire-resistant coatings, Regional Outlook (Revenue - USD Million, 2018 - 2030)