Global Fire-Resistant Coatings Market, By Coating Type( Cementitious Coatings, Intumescent Coatings), By Technology(Solvent-Borne, Water-Borne), By Type (Liquid Fire Resistant Coatings, Powder Fire Resistant Coatings), By End-User Industry( Aerospace, Automotive & Transportation, Building & Construction, Electrical and Electronics, Furnishings, Marine, Oil & Gas, Others), By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa), Trend Analysis, Competitive Market Share & Forecast, 2020-2027

Global Fire-Resistant Coatings Market Size – Industry Trends & Forecast Report 2027

The Fire-Resistant Coatings market size was calculated to be at USD  billion in 2019 and is anticipated to elevate rise with a CAGR of % till 2027 having a calculated value of USD  in the projected period. Most of this would be the reflection of the growth made in Building& Construction, Oil & Gas, and various commercial sectors. Rising awareness against safety measures and increased preference for light materials has stirred the market. The coatings are majorly used as a cautious measure to prevent fire-related accidents and mishaps. 

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Global Fire-Resistant Coatings Market Overview

A fire-resistant coating is the coating or paint, that is applied on any given article, material, construction(s), infrastructures to make them resist high degrees of temperature fluctuations to prevent them from catching fire or any other deformity related to heat. The fire-resistant coatings could be taken as a thermal coating which acts as a barrier in between the article it’s been spread on and the heat, extremely high temperatures, and fire. These coatings are extensively used to avoid fire exposures to steel structures and constructions as well. 

Global Fire-Resistant Coatings Market Forecast and Trends

Growth Drivers

The rise in numbers of fire and heat-related accidents

As the industry in the construction sector is growing due to increased migrations towards the urban settings, the application of fire-resistant coatings has increased. Because with the higher populations come the demands for better residential settlements. The increased number of domestic fire accidents and commercial or industrial power & energy-related accidents has initiated the implementation of several codes, regulations, and standards for fire protection and fire safety. The presence of these strict rules and norms to prevent such accidents, stated by the government would drive the market growth in the forecast period.

Coating of construction materials 

The application of fire-resistant coatings and paints on construction materials such as structural steel, sheets of concretes, and other various materials, gives an attractive finish. And most importantly increases the resistivity of such materials from heat, thermal energy, and fire exposure. The coating also brings an added feature of enhanced durability of the total constructive frame and construction. Because of these, the fire-resistant coatings are used as a cautious measure by builders, government, and industries to ensure safety in commercial, housing, institutional settings, etc. Eventually elevating the growth of the relevant market.

Restraint

Lack of technological enhancements

Despite the properties such as thermal, heat, and fire resistivity, these coatings provide. The extended exposure of these coatings to unfavorable environments hinders their properties that result in the orange-peel effect. This is a major drawback of intumescent kind of coatings, moreover, the improper application and not efficient pre-surface treatments do give in-aesthetic sagging of coatings on the substrates and articles. Also, on coming with the contact of fire, the coat tends to swell up and forms a charred layer that emits smoke. This issue could heavily affect the visibility of the people caught up in mishaps and accidents. 

Impact of COVID 19 on Global Fire-Resistant Coatings Market

In the initiative stages pandemic situation, the market demand for paints and coatings was at an exhaustive level. Due to the enactment of lockdowns and shut-downs at various levels to prevent the infection spread. Which led the focus of all the economies to be invested in essential products and resources. Additionally, market growth was more prevalent in online, network-related, and technological electronics goods. But ever since the severe limitations have lifted off, the coatings market is gaining borderline but positive traction. Losses would have to get recovered within the projected period itself. 

Global Fire-Resistant Coatings Market Segmentation: By Coating Type

The market for global fire-resistant coatings is bifurcated into Cementitious coatings and Intumescent coatings. The Intumescent coatings are heavily used in passive fire protection (use of materials, coatings, and constructive fittings to slow down the fire spread). These kinds of coatings customarily are water-based, epoxy, or solvent-based paint-like materials. Which stretch, swell, and expand on heating to form an insulation char protecting article and substrate. 

Global Fire-Resistant Coatings Market Segmentation: By Technology

Based on technology the market is segmented into solvent-borne and water-borne. Now, both types of technologies are used for fire protection in buildings and related construction structures with the resistance need of 30, 60, and even 90 minutes. Demand for intumescent coatings having water-borne and solvent-borne technologies is heavily dependent on the expenditure done for construction. 

Global Fire-Resistant Coatings Market Segmentation: By Type

Based on the type of form of the coatings, the market has two major kinds which are Liquid Fire Resistant Coatings and Powder Fire Resistant Coatings. On comparing the two, it is evident that the market would flourish more in liquid fire-resistant coatings as this segment held the largest share of revenue in the year 2019. A liquid fire-resistant coating is atypically a fluid solution that is used to cover or protect any given surface; on drying the coating creates a continuous and protective film over the surface. The film is elastic, strong, and quite thin due to which it is used for about 80% of the household coatings as analyzed by a Paint Quality Institute.

Global Fire-Resistant Coatings Market Segmentation: By End-User Industry

End-User Industry is segmented into Aerospace, Automotive & Transportation, Building & Construction, Electrical and Electronics, Furnishings, Marine, Oil & Gas, Others. Among which the building & construction segment had the widest share in the fire-resistant market with a CAGR of 7.05% in the year 2019. These fire-resistive coatings are used to coat automotive parts, buildings, gas pipelines, and others. Also, its application is heavily on demand where the articles, substrate, items are needed to make durable, and weatherable. Protecting the materials and related parts for a good 30 minutes to 2 hrs., in case of any mishap and fire incident. 

Global Fire-Resistant Coatings Market Segmentation: Regional Analysis

Europe to grow with the highest pace in the projected time frame, as the increase in fire-resistant coatings in this particular region is credited to multiple industrial initiatives, stringent laws and rules established by the government, and most significantly a strong emphasis on precaution and protection against fire. Meanwhile, the construction of several green buildings and the adoption of green coats and paints are expected to help the market grow further. The market in Europe is dominated by countries EU-5 countries such as France, Germany, Italy, Spain, and the United Kingdom.

The Asia Pacific did dominate the market by contributing over 33% of revenue share to the global market which indicates that this region will yet have a substantial growth in forecast years.

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Recent Developments

●      November’ 19- Finnester Coatings, an innovation driven coatings manufacturer of fire resistant coatings launched a coating range under name “Hybridred”. It has a unique formula made for combined application of fire protection, decorative and enhanced weatherability.

●      August’ 19- M Fire Suppresion Inc., a fire technology company presented a Fire Elimination Kit to defend the winery and vineyards from wildfires that occurs every year in the western regions of U.S.

Competetive Landscape

Key manufacturers for the Global market of Fire resistant coatings are 3M,Akzo Nobel N.V., Albi Protective Coatings, Carboline, Contego International Inc., Hempel A/S, Isolatek International, Jotun, No-Burn Inc., Nullifire, PPG Industries, Inc., Rudolf Hensel GmbH, Sika AG, The Sherwin-Williams Company, Tor Coatings, etc.

Scope of the Report

Scope of the Report

By Coating Type

●      Cementitious Coatings

●      Intumescent Coatings

By Technology

●      Solvent-Borne

●      Water-Borne

By Type

●      Liquid Fire Resistant Coatings

●      Powder Fire Resistant Coatings

By End-User

●      Aerospace

●      Automotive & Transportation

●      Building & Construction

●      Electrical and Electronics

●      Furnishings

●      Marine

●      Oil & Gas

●      Others

By Region

●      Asia Pacific

●      North America

●      Europe

●      Middle East & Africa

●      Latin America