Intumescent Coatings Market set to Increase Considerably
AkzoNobel, PPG Industries & Sherwin-Williams Co are the Intumescent Coatings main players with over 45% market share
The intumescent coatings market main players continue to maximize their market share. Continuous investment in new manufacturing facilities helps them maintain their position. Collaboration with other players in this market is expected to increase competition running up to 2024.
In 2015 the intumescent coatings market was worth £290m. This is forecast to rise steadily in the coming years to over £525m. The Building & Construction industries are expected to emerge as the leading end users of intumescent coatings worldwide.
A recent report includes the oil, gas, transportation and electronics sectors as other major end users of intumescent paint. In geographical terms the worldwide market will be Europe, North America, the Middle East and Africa, Latin America and Asia Pacific.
China will probably become the leading domestic market for intumescent coatings in Asia Pacific. The increased demand will be main down the building and construction sectors in this huge market.
Says a research analyst at TMR:
The growth of the building and construction industry is the key factor behind the substantial rise in the demand for intumescent coatings across the world
Increasing population and urbanization are resulting in a high number of construction projects, especially in Asia. With increasing concerns about fire safety in new buildings building contractors are increasingly using intumescent coatings.
Stringent government regulations on fire safety will certainly boost global demand for intumescent paint protection. You can read more about this over at OpenPR and SBWire.
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