December 14, 2020 08:58 ET | Source: Research and Market Research and Market

Dublin, December 14, 2020 (GLOBE NEWSWIRE) - "The market for fire-resistant coatings ( Spraying, brushes and rollers), applications and regions-global forecast to 2025" report has been added to ResearchAndMarkets.com's products.

The fireproof coatings market in 2020 is 933 million U.S. dollars and is expected to reach 1.106 billion U.S. dollars by 2025, with a compound annual growth rate of 3.5% in 2020. Increased awareness and attention to safety measures, as well as preference for lightweight materials that require additional protection, are expected to drive the market. Strict regulations and specifications also support market growth, as new buildings and manufacturing plants need to meet required safety and fire protection standards. It is expected that during the forecast period, the acceleration of urbanization and the development of the construction industry will provide growth opportunities for the market. The use of low-cost cement coatings in developing countries and dry environments is expected to support market growth. "New rules for green and smart buildings and increasing attention to obtain green certification" In July 2018, the new rules for building energy performance came into effect as part of a European-wide clean energy package, also known as the Clean Energy Package (CEP). ) ). Buildings account for approximately 40% of EU energy consumption and 36% of carbon dioxide emissions. These new regulations will make buildings more environmentally friendly and more energy efficient. In order to comply with environmental standards and ensure maximum fire protection, a thin layer of intumescent coating has become a better alternative to traditional fire protection systems. In addition, because these coatings provide fire protection for the lightweight parts of buildings, they are becoming more and more popular in the field of green buildings. "The impact of COVID-19 on the fire-retardant coatings market" Most North American and European countries, especially the United States, Italy, Spain, the United Kingdom, France and Germany, have been severely affected by the COVID-19 pandemic. The closure of several manufacturing sectors has led to a decline in the gross domestic product of these countries. According to OECD data, the GDP of the European Union (EU) fell by 3.3% in the first quarter of 2020. Due to the COVID-19 pandemic, the industrial sector's demand has fallen sharply in the first and second quarters of 2020. With the decline in oil and gas prices and the huge gap between supply and demand, this impact has further intensified. Due to economic losses, several large-scale construction projects were suspended until the economy recovered. The decline in European construction spending will in turn lead to a decline in the demand for fire-resistant coatings. "It is expected that the market share of the intumescent coatings segment will be greater in 2019." Intumescent coatings are solvent-based or water-based, mainly used in construction and construction. The use of cement coating increases the total weight of the structure. Intumescent coatings are superior to their alternatives because they are thinner, have better fire resistance, and significantly reduce the total weight of the structure and substrate. "The construction industry is expected to have the largest share of the fire-retardant coatings market." It is expected that the construction industry will account for the largest share of the fire-retardant coatings market in 2019, followed by the industrial sector of value. It is expected that during the forecast period, the increase in construction activities and the increase in the number of manufacturing facilities in the Asia-Pacific region and MEA emerging economies will drive market demand. "It is estimated that the water-based coating technology sector occupies the majority share of the fire-retardant coatings market." According to technology, the water-based coating technology sector is estimated to occupy the majority of the entire fire-resistant 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. "Through application technology, it is estimated that the spraying part has a majority share in the fireproof coating market." According to the application technology, the spraying part dominates the fireproof coating market. This technology is faster, more efficient, requires fewer coatings, has a smoother surface, and can be used to coat complex geometries. These factors make it the preferred application technology for fire retardant coatings. "It is expected that during the forecast period, Europe will occupy the largest share of the fire-retardant coatings market." Europe accounted for the largest share of the global fire-retardant coatings market in 2019. The growth of the fire retardant coatings market in this region is mainly due to strict government regulations, sustainable industrial initiatives and the high emphasis on protecting fire protection. In addition, the practice of constructing green buildings and adopting green paints provides many opportunities for market growth in this region. The European market is dominated by the five EU countries, especially Germany and the United Kingdom.

The fire retardant coatings market includes major manufacturers such as Akzo Nobel (Netherlands), PPG (United States), Jordan (Norway), Sherwin-Williams (United States), Hempel (Denmark), RPM International (United States), Sika (Switzerland), Etex Group (Belgium), Kansai Paints (Japan) and Teknos (Finland). Market dynamics

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