The Global Fire-Resistant Coatings Market is Projected to Touch USD Billion by 2027, Growing with a CAGR of % From 2020 to 2027.
Published | 20 January 2021
According to BlueWeave Consulting, the Global
Fire-Resistant Coatings Market did reach USD Million in
2019 and is further anticipated to get to USD billion by 2027, growing at a
CAGR of % during the forecast time-frame. 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.
“Rising
numbers of fire-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.
“Fire- resistive 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.
EU-5 and APAC to assert dominance over the market
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.
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.
Do not miss the business opportunity of the Global
Fire-Resistant Coatings Market Consult our analyst, gain crucial
insights, and facilitate your business growth.
The in-depth analysis of the report provides the growth
potential, upcoming trends, and statistics of the Global Fire-Resistant
Coatings Market size & forecast. The report promises to provide
state-of-the-art technology of the Global Fire-Resistant Coatings Market and
industry insights, which help decision-makers to make sound strategic
decisions. Furthermore, the report also analyzes the market drivers,
challenges, and competitive analysis of the market.
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