Intumescent Coatings Market Is Projected To Reach Approximately USD 1.31 Billion By 2025 : Grand View Research Inc.

Intumescent Coatings Market.jpg

San Francisco, 26 December 2019: The Report Intumescent Coatings Market Size, Share & Trends Analysis Report By End Use (Oil & Gas, Construction), By Application (Hydrocarbon, Cellulosic), By Technology (Epoxy-, Water-, Solvent-based), And Segment Forecasts, 2019 – 2025

The global intumescent coatings market size is expected to reach USD 1.31 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% over the forecast period. Extensive usage of passive fire protection for steel structures used in offshore and onshore extraction and purification and refining in the oil & gas industry is the key factor boosting the market growth. In addition, rising shale gas exploration coupled with expanding oil & gas industry in Asia Pacific is expected to propel demand over the forecast period. The industry is characterized by the presence of a large number of raw material suppliers leading to an increase in the switching ability of the manufacturers and high bargaining power.

However, volatile prices of the raw materials, such as epoxy resins is expected to restrain the growth to some extent. Moreover, several regulations limiting the presence of Volatile Organic Compounds (VOCs) in the formulation will also hinder market growth. On the other hand, development of advanced products that are compliant with the regulations set by the European Commission is expected to drive the demand over the next nine years. The market in Asia Pacific witnessed a significant expansion owing to increased oil & gas exploration activities, particularly in the South China Sea. Furthermore, infrastructure development in emerging economies including India, Indonesia, and Vietnam is likely to contribute to the market development over the forecast period.

Access Research Report of Intumescent Coatings Market @ https://www.grandviewresearch.com/industry-analysis/intumescent-coatings-industry

Further key findings from the study suggest:
  • Water-based coatings is expected to be the fastest-growing technology segment of the global intumescent coatings market from 2019 to 2025
  • Oil & gas end-use segment held the largest share of the market in 2018 and is expected to continue its dominance over the forecast period
  • Asia Pacific was the largest market in 2018 and is projected to expand further at the highest CAGR during the forecast years
  • Cellulosic is projected to be the largest, as well as the fastest-growing, application segment over the next few years
Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks

Grand View Research has segmented the global intumescent coatings market on the basis of technology, application, end use, and region:
Intumescent Coatings Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
  • Water-based
  • Solvent-based
  • Epoxy-based
Intumescent Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
  • Hydrocarbons
  • Cellulosic
Intumescent Coatings End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
  • Oil & Gas
  • Construction
  • Automotive
  • Others
Intumescent Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa
Access Press Release of Intumescent Coatings Market @ https://www.grandviewresearch.com/press-release/global-intumescent-coatings-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

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