The global Cellulosic Fire Protection Intumescent Coatings market is forecast to reach USD 1,334.5 Million by 2028, according to a new report by Reports and Data. Intumescent coatings are generally referred to as intumescent paint, which are used in buildings as a passive fire resistance measure. They are applied to structural members as an aesthetically pleasing fireproofing product. Intumescent coatings expand when exposed significantly to high temperatures, such as, those products that come in contact with fire.
Intumescent coatings, when applied by a spray, provides a thick and spongy surface that requires a finish covering to hide and protect the steel. They offer the same level of coating that looks like a thin layer of paint.
An increase in the investment in oil and gas exploration, coupled with development in technology, are also stimulating market growth. Intumescent coatings are used as passive fire protection, which reduces the risk of explosion. Rapid urbanization, growth in economy, and efficient transportation facilities have increased the application of natural gas and increased usage of vehicles. This has also spurred the market growth.
Growth in demand for substitutes such as cementitious coating due to its light-weight nature, hassle-free applications, and low cost are hindering the growth of the market. Furthermore, low awareness regarding the benefits of these products in countries such as Thailand, China, and India are hampering the market growth.
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Intumescent Coatings Market: Drive factors
The growth of the Cellulosic Fire Protection Intumescent Coatings Market is primarily driven by the following factors:
- Increasing Construction Activities: The rise in construction activities globally, including commercial buildings, residential complexes, and infrastructural projects, creates a strong demand for fireproofing solutions like intumescent coatings. These coatings provide passive fire protection to structural elements, enhancing safety measures and complying with building codes and regulations.
- Aesthetically Pleasing Fireproofing Coating: Intumescent coatings offer an aesthetically pleasing finish that blends seamlessly with the architectural design of buildings. As awareness about the visual appeal of fireproof coatings increases, the adoption of intumescent coatings in construction projects rises, driving market growth.
- Growing Automotive Sector: The automotive industry's expansion, coupled with the need for corrosion and heat protection, fuels the demand for intumescent coatings. These coatings are applied to car bottoms and under the hood to safeguard vehicles from damage caused by extreme heat and environmental factors, contributing to market growth.
- Technological Advancements in Coatings: Continuous advancements in coatings technology, including the development of reactive coatings like intumescent coatings, have led to more effective and efficient products. As industries seek innovative and high-performance solutions, the demand for intumescent coatings increases.
- Fire Protection in Oil and Gas Industry: In the oil and gas sector, intumescent coatings are crucial for providing fire protection to structural steel, both onshore and offshore, especially under extreme temperatures. The growth in oil and gas exploration and production activities drives the demand for these coatings in this sector.
- Rising Incidence of Flammable Liquid Leakage: The increasing occurrence of flammable liquid leakage from pipelines and vessels necessitates fire protection measures. Intumescent coatings form an insulating char during fires, protecting steel structures from excessive heat, swelling, and charring, making them vital in such scenarios.
- Demand from Petrochemical Complexes: The utilization of hydrocarbon and petrochemical complexes in the oil and gas industry fuels the market for intumescent coatings. These coatings provide essential fire resistance to spherical structures containing chemicals, natural gas, and other hazardous substances.
- Nanotechnology in Coatings: The application of nanotechnology in coatings has opened up new revenue opportunities in the intumescent coatings market. Nanostructured materials offer improved properties like enhanced fire-retardant capabilities, making them attractive for various industries.
Overall, the combination of increasing safety regulations, growing infrastructure development, and the need for efficient fire protection solutions drives the adoption of intumescent coatings across multiple sectors, leading to market expansion.
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