January 11, 2022
According to the research report titled ‘Global Cellulosic Fire Protection Intumescent Coatings Market Size study, by Type (Solvent-borne, Water-borne), by End Use (Residential, Commercial), by Material Type (Acrylic, Epoxy, Alkyd, VAE, Other), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global cellulosic fire protection intumescent coatings market was worth USD 559 million in 2020 and is anticipated to record a CAGR of 3.7% to reach a valuation of USD 720.88 million by the year 2027.
Rising number of fire incidents globally, shifting preference for lightweight materials in construction & building, along with increasing demand for water-based intumescent coatings are the major growth determinants for global cellulosic fire protection intumescent coatings market.
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For the unversed, cellulosic fire protection intumescent coatings are fire-resistant coatings that are applied to infrastructure, assets, and structures. These coatings expand during a fire and provide thermal protection to the building or steelwork for a set length of time. These coatings also have improved durability, application efficiency, lower application costs, faster process time, and a superior aesthetic finish, making them more versatile in the building and construction industry.
Furthermore, industry participants throughout the world are pursuing a variety of strategic initiatives that are projected to boost market growth. For example, Hampel Corp. began construction of a new facility in China in 2020 (Yantai Chemical Industrial Park), having a production capacity of 100,000 tons per year.
However, concerns regarding coating application and durability may hamper the global cellulosic fire protection intumescent coatings industry outlook during the forecast timeframe of 2021-2027.
On the basis of type, the marketplace is bifurcated into water-borne, and solvent-borne. In terms of end-use, the industry is divided into commercial, and residential. With respect to material type, the market is branched into VAE, alkyd, epoxy, acrylic, and others.
Considering the regional landscape, North America is reckoned to account for a significant market share by the year 2027, owing to stringent regulations for fire safety in constructions and buildings, increasing demand for intumescent coatings, and inflowing investments in housing & commercial sector.
The key players in global cellulosic fire protection intumescent coatings marketplace are Teknos Group Oy, Kansai Paint Co. Ltd., Etex Group, Sika AG, RPM International Inc., Hempel A/S, Jotun, PPG Industries Inc., and Sherwin-Williams Company.