Global intumescent coatings market size is poised to experience substantial growth over the next few years. Intumescent coatings, also known as intumescent paints, are one of the easiest and most effective methods to protect load bearing structural elements in buildings against fire. When applied, these coatings serves as an aesthetically attractive fireproofing solution. Intumescent paints expand when exposed to high temperatures and form a char that protects the structure during fire.
The use of intumescent paints and coatings in fire protection applications offers several advantages. The coating does not affect the intrinsic properties of materials, like for example the mechanical properties of structural steel. Moreover, the product is easily processed and can be applied to a wide range of materials including steel, timbers, concrete, and composite elements. A positive application outlook in construction, oil & gas, and automotive industries will augment intumescent coatings market forecast.
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Intumescent coatings can be broadly classified as solvent based, water based, and epoxy based in terms of technology. Water based intumescent coatings market is slated to witness a significant adoption in the near future. Surging demand for light, high-strength, and chemically resistant coatings in construction applications will foster the business expansion. Additionally, growing renovation activities will result in increased consumption of water based intumescent coatings.
Considering the applications, intumescent coatings market is bifurcated into hydrocarbons and cellulosic. Hydrocarbon intumescent coatings application segment will likely experience substantial growth over the study period on account of rising penetration in oil & gas sector. Pool fire and jet fire are two varieties of hydrocarbon intumescent coatings. These coatings provide superior fire protection and excellent corrosion resistance to various onshore and offshore wells and drilling equipment.
On the basis of end-use sector, the market is segmented into construction, automotive, oil & gas, and others. Product demand across the others segment, which includes aerospace, marine, and textile sectors, is projected to record a CAGR of 2.5% through 2026. In aerospace applications, intumescent paints are applied on a range of aircraft components including cabin interiors, aviation fuel pumps, engine nacelles, and hydraulic landing gear parts.
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In recent years, the amount of fiber-reinforced plastics used in aircrafts has increased sharply owing to its strength and lightweight. Although composites offer numerous advantages, in case of a fire emergency, they pose a significant risk of the fire spreading compared to metal parts. Epoxy-based fiber laminates may burn readily and emit toxic fumes. The risk can be considerably reduced by using intumescent coatings.
From a regional point of view, Middle East and Africa (MEA) intumescent coatings market will grow at more than 4.5% during the analysis timeframe. This growth can be largely attributed to rapid expansion of the automotive sector. Changing outlook and growing focus towards enhancing automobile safety is likely to fuel the demand for fire-resistant paints and coatings.
Further elaborating on the geographical landscape, the intumescent coatings market for Latin America is expected to grow substantially in the upcoming years. Rapidly evolving urbanization and modernization trends have significantly increased the demand for high-quality fireproof coatings.