According to a new research report by Global Market Insights, Inc., by 2022, the intumescent coatings market is expected to reach 1.02 billion euros.
The scale of the intumescent coatings market is segmented according to its application in hydrocarbon and cellulose coatings. Source: 110stefan/pixelio.de
Increasing applications in the energy sector, coupled with strict government regulations related to health and safety standardization, may drive demand during the forecast period. Properties such as fire resistance and heat resistance are expected to be one of the key factors driving the growth of the intumescent coatings market. The strong shale gas production pattern may also have a positive impact on the industry.
The market size of cellulose intumescent coatings in 2014 exceeded EUR 350.97 million, and revenue is expected to exceed EUR 501.3 million by 2022. Growth in the construction industry and increased demand for film coatings for marine and automotive applications are expected to drive growth. By 2022, the growth rate of the hydrocarbon coatings market scale may be faster than the global average, and will exceed 50891 million euros.
The oil and gas industry is the main end-use sector, accounting for more than 50% of the global revenue share in 2014, and is expected to further increase by 4.8% from 2015 to 2022. Strict government supervision on safety and health and increasing exploration are expected to boost demand. The construction industry demand in 2014 is estimated to exceed 35 kg. Due to the growth of the construction industry in China and India, the compound annual growth rate from 2015 to 2022 is expected to be 5.2%.
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