Intumescent Coatings Market To Exhibit Growth At 4.6% CAGR Till 2024A Chapter by David JonesIntumescent Coatings Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa ResearchIntumescent coatings have the
capability to protect materials from fire and its resulting damage. These
coatings, when exposed to fire produce a separate layer called ‘char’ to
protect the material by cutting off the oxygen. Its applications include fire-stopping
pillows, window casings, and gasketing.
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.
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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. © 2017 David Jones |
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Added on August 22, 2017 Last Updated on August 22, 2017 Tags: Intumescent Coatings Market, Intumescent Coatings Industry AuthorDavid Jonescalifornia, CAAboutResearch Analyst At Hexa Research Which Provides Research Content For All Types Of Domains do check my Articles more..Writing
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