Intumescent Coatings Market Shares, Growth Rate and Forecast, 2016 to 2024
The rising demand from various end-use industries is expected to fuel the intumescent coating market to growth at a CAGR of 4.6% over a period from 2016 to 2024.
(firmenpresse) - Intumescent coatings have the capability to protect materials from fire and its resulting damage. These coatings, when exposed to fire produce a separate layer called
The intumescent coatings market is poised to grow due to demand from various industries. It is estimated to exhibit a 4.6% CAGR over the forecast period (2016-2024). A common regulatory standard is an effective barrier against market players attempting to invest in other regions.
The global market is segmented according to raw material, end-users, and regions. Raw materials dependent on producing these coatings are hydrocarbon or cellulosic based. The former have large market shares, while the latter will exhibit a high growth rate due to its application across marine, automotive, and construction industries. Hydrocarbon coatings have significant returns in terms of revenue due to their increased use in oil & gas sector.
End-users entail automotive, construction, and oil & gas sectors. Oil & gas led the intumescent coatings market due to the exploration & production activities of shale gas and other fossil fuels. Construction sector will see an upsurge due to the increase in infrastructure projects in South America and Asia Pacific. Car safety laws are likely to augment market demand in the automotive sector in the next seven years.
Regions covered under the market are Latin America, North America, Asia Pacific (APAC), Middle East & Africa (MEA), and Europe. Asia Pacific and Europe currently have maximum shares of the market, but Europe will face dull growth in the coming years. North American market is market by product developments and innovative breakthroughs. MEA will experience significant growth due to the growing infrastructure sector and concurrent interest in the oil & gas sector.
Prime companies dominating the market are Akzo Nobel N.V.; Hempel Marine Paints; The Jotun Group; and Rudolf Hensel GmbH. They have been reigning on account of procuring raw materials at low cost. Products with better performance and a longer shelf life will garner maximum market shares. But a stable distribution cycle ranging from manufacturer to end-user will pose a challenge to new market players.
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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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Datum: 29.06.2018 - 09:40 Uhr
Sprache: Deutsch
News-ID 1537950
Anzahl Zeichen: 2560
contact information:
Contact person: Ryan Shaw
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Typ of Press Release: Finanzinformation
type of sending: Veröffentlichung
Date of sending: 29.06.2018
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