DUBLIN, January 18, 2022--(BUSINESS WIRE)--The "Cellulosic Fire Protection Intumescent Coating Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global cellulosic fire protection intumescent coating market.
This report focuses on the cellulosic fire protection intumescent coating market which is experiencing strong growth. The report gives a guide to the cellulosic fire protection intumescent coating market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
The global cellulosic fire protection intumescent coating market is expected to grow from $466.71 million in 2020 to $507.69 million in 2021 at a compound annual growth rate (CAGR) of 8.78. The growth is mainly due to the stringent regulations and fire resistance standards for newly constructed buildings. The market is expected to reach $584.84 million in 2025 at a CAGR of 3.60%.
The Sherwin-Williams Company
Contego International Inc.
Albi Protective Coatings
Rudolf Hensel GmbH
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The cellulosic fire protection intumescent coatings market consists of sales of cellulosic fire protection intumescent coatings by entities (organizations, sole traders, and partnerships) that are engaged in the production of cellulosic fire protection intumescent coatings to cater to various end-use industries. An intumescent is a substance that expands on exposure to heat and is used in fire protection for industries such as automotive, oil & gas, and construction. With an increase temperature, during a fire event, the intumescent coating swells up to form a char layer, which acts as an insulator that keeps high temperatures away from structural members.
The main types of cellulosic fire protection intumescent coatings are solvent-borne and water-borne. A solvent-borne coating is a liquid barrier film made up of organic compounds that are applied to the surface of a substance to resist corrosion. During the curing process, solvent-borne coatings are usually more durable than water-borne coatings. A water-borne coating is made by emulsifying the binder, pigments, and additives with water and is used mostly in dry, internal controlled environments having small surface areas and less thickness. Cellulosic fire protection intumescent coatings are used for residential and commercial purposes. These coatings are used in various sectors including construction, automotive, oil and gas, and others.
North America was the largest region in the cellulosic fire protection intumescent coating market in 2020. Asia Pacific is expected to record the fastest growth over the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The introduction of new and advanced products is shaping the cellulosic fire protection intumescent coatings market. Industry players are investing in developing coatings that require lesser number of application of coats and provide enhanced safety. For instance, In November 2019, Hempel, a Denmark-based manufacturer of coating solutions launched its new generation fire-protection coating - Hempafire Optima 500 crafted primarily to increase the efficiency of passive fire safety coating applications.
It accomplishes this by lowering the number of coats required and the time it takes to add them, providing up to 180 minutes of defense from cellulosic explosions, with 120 minutes being optimal. In another instance, in March 2019, a Netherlands-based coatings company, AkzoNobel launched a new coatings system for wooden facade elements having a high fire-retardant rating for organic materials such as wood. The coating requires much less primer than existing products and has a fast-drying feature.
The growing building & construction industry supported by increasing urbanization is expected to propel the growth of the cellulosic fire protection intumescent coatings market. These coatings provide fire safety, temperature, and corrosion resistance in both residential and commercial structures. For instance, the residential building construction market is expected to increase from $3489.4 billion in 2020 to $5193.7 billion by 2025. The growing residential and non-residential building constructions across the globe are anticipated to increase the demand for cellulosic fire protection intumescent coatings in the near future.
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