A recent report published by Infinium Global Research on cellulosic fire protection intumescent coatings market provides in-depth analysis of segments and sub-segments in the global as well as regional cellulosic fire protection intumescent coatings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cellulosic fire protection intumescent coatings market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global cellulosic fire protection intumescent coatings market. According to the report, the global cellulosic fire protection intumescent coatings market is projected to grow at a CAGR of 3.8% over the forecast period of 2021-2027.
The cellulosic fire protection intumescent coatings market was valued at USD 558.1 million in 2020 and is expected to reach USD 716.3 million in 2027, with a CAGR of 3.8% during the forecast period. Cellulosic intumescent fire protection solutions are designed to expand under fire conditions and applied as a thin film coating. It provides thermal insulation protection to steelwork for a given period of time. This coating helps the steel hold its load-bearing capacity for a long period, allowing additional time for building evacuation and emergency response.
Increasing awareness, changing regulations, and rising emphasis on safety measures across the globe drive the demand for cellulosic fire protection intumescent coatings market. Several governments and environmental regulatory bodies have imposed strict regulations on the paints and coatings that cause pollution. The United States Environmental Protection Agency (EPA) and the Occupational Safety and Health Administration (OSHA) have identified volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) as harmful to human and environmental health. Furthermore, the growing preference for lightweight materials in the building & construction industry is also driving the demand for the market. Increasing demand for energy, shale gas, tight gas, and coal bed methane on account of the maturity of the conventional oil & gas resources market is fueling the market growth. However, the economic slowdown and impact of COVID-19 on the construction industry hampered the cellulosic fire protection intumescent coatings market. Moreover, the growing demand from developing economies is anticipated to boost the market growth in the future. The demand for cellulosic fire protection intumescent coatings from the developing regions is expected to grow over the forecast period. The improving economic conditions coupled with rapid urbanization are driving the market in developing economies. COVID-19 pandemic has caused disruptions for the global paint and coating industry in recent memory. The continuing rising number of cases and falling demand has caused anxiety among the leading paint and coating producers. The paint industry is also facing an enormous deficiency of skilled and unskilled laborers as lockdown enforced a large proportion of the workforce to their hometowns. Several other factors have led to a massive slowdown Apart from the displacement of labor in this state of emergency.
In terms of region, Asia Pacific generated the highest revenue in the global cellulosic fire protection intumescent coatings market owing to the rising construction industry in the emerging economy of Asia Pacific. An upsurge in demand for decorative coatings and paints in China and India, coupled with an increase in awareness for coatings is driving the market in the Asia Pacific. Moreover, the rising population in the region is boosting the construction industry in the region. That is supplementing the building & construction segment in the emerging economy of Asia Pacific. On the other hand, North America is likely to closely follow the growth of Asia Pacific and is expected to exhibit the second-largest market for cellulosic fire protection intumescent coating in the near future. Rising health awareness and utilization of eco-friendly products are expected to propel the cellulosic fire protection intumescent coating market in the region.
The report on the global cellulosic fire protection intumescent coatings market covers segments such as type, end use, material type, and substrate type. On the basis of type, the sub-markets include solvent-borne, and water-borne. On the basis of end use, the sub-markets include residential, and commercial. On the basis of material type, the sub-markets include acrylic, epoxy, alkyd, VAE, and other. On the basis of substrate type, the sub-markets include structural steel & cast iron, wood, and others.
The report provides profiles of the companies in the market such as AkzoNobel, The Sherwin-Williams Company, PPG Industries, Jotun Group, Hempel A/S, RPM International Inc., ETEX Group, SIKA AG, Kansai Paints Co. Ltd, and TEKNOS Group.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of cellulosic fire protection intumescent coatings market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.