Fire Resistant Coatings Market
PUBLISHED: 2023 ID: SMRC22866
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Fire Resistant Coatings Market

Fire Resistant Coatings Market Forecasts to 2028 - Global Analysis By Type (Cementitious, Intumescent and Other Types), Application Technique (Brush & Roller and Spray), Technology (Solvent-Borne and Water-Borne), Substrate (Wood, Metal and Other Substrates), Application, Resin Type and By Geography

4.4 (57 reviews)
4.4 (57 reviews)
Published: 2023 ID: SMRC22866

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $1,085.19 MN

Projected Year Value (2028)

US $1,496.31 MN

CAGR (2022 - 2028)

5.5%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe


According to Stratistics MRC, the Global Fire Resistant Coatings Market is accounted for $1,085.19 million in 2022 and is expected to reach $1,496.31 million by 2028 growing at a CAGR of 5.5% during the forecast period. Fire resistant coatings are substances that help minimise fire by applying a coat to the desired surface to guarantee that you have enough coverage to provide the appropriate fire resistant security. Intumescent paint is another name for fire-resistant paint. The most common application of fire resistant coating is to prevent fire and flame from spreading across the surface by leaking gas as they heat up. Fire resistant coatings reduce the danger of fire damage to surfaces. The need for fire-resistant coatings is expected to rise rapidly as a result of increased awareness and stringent fire protection requirements and regulations.

According to Eurostat, the overall construction industry and building construction output growth in Europe (EU-28) was 2.6% and 2.4% in 2019.



Market Dynamics:

Driver:

Increasing global awareness, new rules, and a greater emphasis on safety measures

The increasing frequency of fire incidents resulting in injuries, deaths, and property damage has resulted in the implementation of many laws, regulations, and standards for fire safety and fire protection. Europe and North America have the most safety standards and regulations in this area when compared to other locations. As newly constructed buildings and processing plants must fulfil the required safety and fire resistance standards, the implementation of severe rules and norms is increasing the demand for fire-resistant coatings. Given the prospects for expansion, market participants are focused on developing new and innovative products that meet demanding safety and fire protection regulations.

Restraint:

Availability of low-cost alternatives for some applications

The usage of sophisticated fire-resistant coating in all applications is prohibitively expensive. The cost of coatings is an essential consideration when selecting fire-coating materials and the application process. High-end fire-resistant coating may not be an economical solution for applications with less tight criteria and low volumes. Active fire protection, such as fire extinguishers and other low-cost cementitious coatings are less expensive and favoured over other fire-resistance coatings in some applications. As a result, the availability of low-cost substitutes is limiting the coating market in several applications.

Opportunity:

Growing demand for fire-resistant coatings in renovation projects

Fire-resistant coatings are utilised not only in new construction projects, but also in the maintenance of existing commercial and residential structures and buildings. Aside from fire protection, these coatings are resistant to weather and corrosion. They require fewer repairs and have a longer service life. People are becoming more aware of the benefits of these coatings and are incorporating them into both repair and new building projects. According to the European Union, over 35% of buildings in Europe are over 50 years old, with roughly 0.4-1.2% of buildings refurbished per year. With a greater emphasis on clean energy and building safety, stiffer standards for renovating older buildings are in force. This aspect has the potential to enhance global demand for fire-resistant coatings.

Threat:

Concerns related to coating application and durability

Prolonged exposure to hostile environments affects the characteristics of intumescent coatings, resulting in the orange-peel effect, which is a key concern, associated with their use. Moreover, incorrect application and pre-application surface treatments cause the coatings to droop on the substrates. Furthermore, when exposed to fire, the coatings swell and generate a burned layer. This produces smoke, which might impair the visibility of persons attempting to flee a specific region. The leading players in the intumescent coatings market are concentrating on creating coatings that provide fire protection, produce less smoke, have a thinner film, and have good aesthetic features. These advancements will improve the demand for intumescent coatings.

Covid-19 Impact

The global business ecology was shattered by the Covid-19 pandemic. Nevertheless, this epidemic has had a significant detrimental influence on a big number of fire-resistant coatings industries in a variety of ways. This is due to the fact that the governments' lockdowns and social distancing measures have had a substantial impact on demand and consumption of fire-resistant coatings. However, the fire-resistant coating business is expected to develop in the post-pandemic period as countries' economies recover.

The intumescent segment is expected to be the largest during the forecast period

The intumescent segment is estimated to have a lucrative growth. The majority of uses for this kind of coating, which can be waterborne or solvent-borne, are in the building and construction industry. Additionally, it is better than cementitious replacements since it is thinner, greatly reduces the weight of the substrates and structures as a whole, and has higher fire protection qualities. The aforementioned benefits of the intumescent type of fire-resistant coating drive this market's expansion.

The solvent-borne segment is expected to have the highest CAGR during the forecast period

The solvent-borne segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the fact that solvent-borne coatings often outlast aqueous coatings in terms of durability. Additionally, solvent-based fire-resistant coatings are frequently applied to structures under construction as a thermal barrier during fire threats; as a result, the expansion of the global construction sector propels the expansion of this market segment.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period, as a result of increased awareness and the focus on safety measures in nations like China and India. Additionally, it is anticipated that rising foreign direct investment (FDI) for South East Asia's economic development will strengthen the region's building and construction sector. This element has also given the sector lucrative new growth potential.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to numerous fire safety standards in the manufacturing, building, and construction sectors. Europe is dominated by nations like Germany and the United Kingdom. A number of industry participants also provide fire-resistant coatings materials that adhere to European norms. In order to comply with European fire prevention laws for public facilities including hospitals, theatres, cinemas, and schools, ICA Group, for instance, produces Prometea fire-retardant coatings.



Key players in the market

Some of the key players profiled in the Fire Resistant Coatings Market include PPG Industries, Arabian Vermiculite, Akzonobel N.V., Sika AG, Etex Group, Contego International, The Sherwin-Williams Company, Rudolf Hensel GmbH, Hempel A/S, Envirograf, Teknos Group, Promat International and Rpm International.

Key Developments:

In May 2020, Hempel A/s has begun the construction of a new factory in Yantai Chemical Industrial Park, China. The plant will have a production capacity of more than 100,000 tons per year and will be inaugurated by 2021.

In September 2020, Etex Group had acquired the UK-based passive fire protection company named FSi Limited, having a production facility in Measham, East Midlands, and a distribution center in London.

In August 2019, The Sherwin-Williams Company acquired the business and assets of Dresdner Lackfabrik Novatic (Germany) in Germany, Poland, and the Czech Republic.

In May 2019, Teknos Group acquired the Czech Republic-based Finnproduct, a distributor, to expand its customer base to the domestic market.

In March 2019, AkzoNobel N.V. launched a new fire protection coating system for the wooden building façade, which got approved in Europe.

In March 2019 Sika AG launched epoxy intumescent fire protection coating for structural steel under the trademark Sika Unitherm Platinum-120, for interior or exterior application.

Types Covered:
• Cementitious
• Intumescent
• Other Types

Application Techniques Covered:
• Brush & Roller
• Spray

Technologies Covered:
• Solvent-Borne
• Water-Borne

Substrates Covered:
• Wood
• Metal
• Other Substrates

Applications Covered:
• Aerospace
• Building & Construction
• Industrial
• Oil & gas
• Marine
• Automotive
• Electrical & Electronics
• Furniture
• Textiles
• Other Applications

Resin Types Covered:
• Acrylic
• Silicon
• Vinyl
• Epoxy
• Other Resin Types

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Fire Resistant Coatings Market, By Type
5.1 Introduction
5.2 Cementitious
5.3 Intumescent
5.4 Other Types

6 Global Fire Resistant Coatings Market, By Application Technique
6.1 Introduction
6.2 Brush & Roller
6.3 Spray

7 Global Fire Resistant Coatings Market, By Technology
7.1 Introduction
7.2 Solvent-Borne
7.3 Water-Borne

8 Global Fire Resistant Coatings Market, By Substrate
8.1 Introduction
8.2 Wood
8.3 Metal
8.4 Other Substrates

9 Global Fire Resistant Coatings Market, By Application
9.1 Introduction
9.2 Aerospace
9.3 Building & Construction
9.4 Industrial
9.5 Oil & gas
9.6 Marine
9.7 Automotive
9.8 Electrical & Electronics
9.9 Furniture
9.10 Textiles
9.11 Other Applications

10 Global Fire Resistant Coatings Market, By Resin Type
10.1 Introduction
10.2 Acrylic
10.3 Silicon
10.4 Vinyl
10.5 Epoxy
10.6 Other Resin Types

11 Global Fire Resistant Coatings Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa

12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies

13 Company Profiling
13.1 PPG Industries
13.2 Arabian Vermiculite
13.3 Akzonobel N.V.
13.4 Sika AG
13.5 Etex Group
13.6 Contego International
13.7 The Sherwin-Williams Company
13.8 Rudolf Hensel GmbH
13.9 Hempel A/S
13.10 Envirograf
13.11 Teknos Group
13.12 Promat International
13.13 Rpm International

List of Tables
1 Global Fire Resistant Coatings Market Outlook, By Region (2020-2028) ($MN)
2 Global Fire Resistant Coatings Market Outlook, By Type (2020-2028) ($MN)
3 Global Fire Resistant Coatings Market Outlook, By Cementitious (2020-2028) ($MN)
4 Global Fire Resistant Coatings Market Outlook, By Intumescent (2020-2028) ($MN)
5 Global Fire Resistant Coatings Market Outlook, By Other Types (2020-2028) ($MN)
6 Global Fire Resistant Coatings Market Outlook, By Application Technique (2020-2028) ($MN)
7 Global Fire Resistant Coatings Market Outlook, By Brush & Roller (2020-2028) ($MN)
8 Global Fire Resistant Coatings Market Outlook, By Spray (2020-2028) ($MN)
9 Global Fire Resistant Coatings Market Outlook, By Technology (2020-2028) ($MN)
10 Global Fire Resistant Coatings Market Outlook, By Solvent-Borne (2020-2028) ($MN)
11 Global Fire Resistant Coatings Market Outlook, By Water-Borne (2020-2028) ($MN)
12 Global Fire Resistant Coatings Market Outlook, By Substrate (2020-2028) ($MN)
13 Global Fire Resistant Coatings Market Outlook, By Wood (2020-2028) ($MN)
14 Global Fire Resistant Coatings Market Outlook, By Metal (2020-2028) ($MN)
15 Global Fire Resistant Coatings Market Outlook, By Other Substrates (2020-2028) ($MN)
16 Global Fire Resistant Coatings Market Outlook, By Application (2020-2028) ($MN)
17 Global Fire Resistant Coatings Market Outlook, By Aerospace (2020-2028) ($MN)
18 Global Fire Resistant Coatings Market Outlook, By Building & Construction (2020-2028) ($MN)
19 Global Fire Resistant Coatings Market Outlook, By Industrial (2020-2028) ($MN)
20 Global Fire Resistant Coatings Market Outlook, By Oil & gas (2020-2028) ($MN)
21 Global Fire Resistant Coatings Market Outlook, By Marine (2020-2028) ($MN)
22 Global Fire Resistant Coatings Market Outlook, By Automotive (2020-2028) ($MN)
23 Global Fire Resistant Coatings Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
24 Global Fire Resistant Coatings Market Outlook, By Furniture (2020-2028) ($MN)
25 Global Fire Resistant Coatings Market Outlook, By Textiles (2020-2028) ($MN)
26 Global Fire Resistant Coatings Market Outlook, By Other Applications (2020-2028) ($MN)
27 Global Fire Resistant Coatings Market Outlook, By Resin Type (2020-2028) ($MN)
28 Global Fire Resistant Coatings Market Outlook, By Acrylic (2020-2028) ($MN)
29 Global Fire Resistant Coatings Market Outlook, By Silicon (2020-2028) ($MN)
30 Global Fire Resistant Coatings Market Outlook, By Vinyl (2020-2028) ($MN)
31 Global Fire Resistant Coatings Market Outlook, By Epoxy (2020-2028) ($MN)
32 Global Fire Resistant Coatings Market Outlook, By Other Resin Types (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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