June 20, 2022 09:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, June 20, 2022 (GLOBE NEWSWIRE) -- During the projected period, the fire retardant coatings market is expected to grow at a CAGR of 6%, reaching a market share of US$ 9.17 billion in 2032, up from US$ 4.83 billion in 2021.
There is a substantial demand for fire retardant coatings due to the clear expanding infrastructure of the industrial and commercial sectors, as well as associated electric supplies and operations, such as fireplaces, where the risk of accidents is higher.
Fire retardant coatings work on the basis of the ability to suppress the production of gases produced at the time of combustion process. Additionally, fire retardant coatings required relatively low maintenance cost – this is one of the superior property of fire retardant coatings for gaining acceptance in several end use industries.
Fire retardant coatings have been formulated in numerous types depending upon base composition and substrate type. According to composition, fire retardant coatings are generally boron-based and phosphorus-based fire retardant coatings.
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Further, by product type, fire retardant coatings have two types including non-intumescent and intumescent fire retardant coatings. The fire retardant coatings find a wide range of applications in industrial, residential, and commercial sectors.
Global Fire Retardant Coatings Market: Industry Participants
The global fire retardant coatings market has a number of small as well as international manufacturers at a regional level. Few key players are identified across the value chain of global fire retardant coatings market which has been listed below –
The global Fire retardant coatings research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. Global Fire retardant coatings market also contains projections using a suitable set of assumptions and methodologies. The research report on global Fire retardant coatings market provides analysis and information according to market segments such as geographies, application, and industry.
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Global Fire Retardant Coatings Market: Regional Outlook
Geographically, the global fire retardant coatings market can be segmented into seven key regions. Rapid industrialization and modernization will continue to drive market growth in developed economies. The regions like the Asia Pacific, Latin America, and MEA anticipated propelling the demand for fire retardant coatings in near future, due to increasing industrial infrastructure and concern towards the protecting property and safeguards across the regions.
Key Segments Profiled in the Fire Retardant Coatings Market Survey
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