Dublin--(BUSINESS WIRE)--"Cellulose Fire Protection" by type (water-based, solvent-based), end use, material type (acrylic, epoxy, alkyd, VAE), substrate type (structural steel) The Intumescent Coatings Market "and Cast Iron, Wood) and Regions-Global Forecast to 2026" report has been added to ResearchAndMarkets.com's products.
The global cellulose fireproof intumescent coatings market is expected to grow from US$559 million in 2021 to US$671 million in 2026, with a compound annual growth rate (CAGR) of 3.7% from 2021 to 2026.
The growth of this market is mainly due to the growing number of residential and non-residential buildings worldwide that are expected to drive the market.
In addition, the number of fire accidents leading to personal injury, loss of life and property loss is increasing, leading to the implementation of various fire safety and fire protection codes, regulations and standards. In this regard, compared with other regions, North America and Europe have the largest number of safety regulations and regulations.
In the United States, the International Code Committee (ICC) and the National Fire Protection Association (NFPA) have recommended a number of standards and codes related to fire safety and protection in the construction, infrastructure, and industrial sectors.
In the United Kingdom and Germany, according to British Standard 476 and ETA and DIN 4102 standards, a number of regulations related to fire safety and standards for building steel structures have been implemented.
However, the COVID-19 pandemic has severely affected the European Union 5 countries, the United States, Russia, Poland and the Nordic countries. As a preventive measure, construction activities have been suspended. A number of construction projects in Europe and North America have been suspended, resulting in a decline in the demand for cellulose fire-retardant intumescent coatings.
In addition, supply chain disruption has been a major issue facing the paint and coatings industry, which is expected to lead to higher prices of raw materials and other products.
"The commercial sector is expected to maintain its advantage throughout the forecast period"
It is estimated that by 2021, the global commercial building construction will account for the largest share of the global cellulose fire-resistant intumescent coatings market, followed by the residential sector in terms of value. It is expected that during the forecast period, increased construction activities and increased investment in the development of commercial sectors in the Asia-Pacific region and MEA emerging economies will drive market demand.
"It is estimated that the water-based coatings sector has a majority share in the market."
Based on the type, the water-based coatings sector is estimated to account for the majority of the entire cellulose fire-retardant intumescent coatings market. The main factor driving this market segment is the growing demand for green products. Water-based coatings are easier to clean, reduce the risk of fire, and reduce exposure to VOCs.
"It is expected that North America will account for the largest market share during the forecast period"
It is expected that from 2021 to 2026, North America will lead the global cellulose fire-retardant intumescent coatings market. The United States is the largest market for cellulose fire-resistant intumescent coatings in North America. In North America, there are strict regulations on building and construction fire safety to ensure safety and prevent fire accidents.
As a result, the demand for intumescent coatings in the residential, commercial, and institutional sectors has increased significantly. However, in 2019, construction spending in the residential and commercial sectors supported the growth of the industry, which in turn led to an increasing demand for intumescent coatings.
The COVID-19 pandemic has caused a suspension of trade and many industrial activities. According to data from the International Monetary Fund, US GDP fell by 3.5% in 2020. In addition, construction activity in 2020 has dropped significantly. Therefore, the demand for intumescent coatings will also decline in 2020.
The cellulose fire-retardant intumescent coating market includes major manufacturers such as Akzo Nobel (Netherlands), Sherwin-Williams (USA), PPG Industries (USA), Sika (Norway), RPM International (Japan), Jotun (Norway) , And Hempel (Denmark).
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900