Fire-resistant coatings are specialized coatings that protect surfaces from fire damage by preventing or slowing fire spread. These coatings function by providing a barrier between the fire and the underlying substance, stopping the fire from spreading or causing damage. Intumescent coatings and cementitious coatings are two types of fire-resistant coatings available. Intumescent coatings are constructed of materials that expand when heated, providing a thick and insulating layer that aids in the prevention of fire spread. Cementitious coatings, on the other hand, are constructed of cement and other heat-resistant elements that can offer a protective layer for surfaces.
The report "Fire-resistant Coatings Market by Type (Intumescent Coatings, Cementitious Coatings), Technology (Solvent-borne, Water-borne), Substrates (Metal, Wood), Application Technique (Spray, Brush & Roller), Application and Region - Global Forecast to 2026" The global fire-resistant coatings market size is projected to grow from USD 975 million in 2020 and is projected to reach USD 1,125 million by 2026, at a CAGR of 3.5%. Europe accounted for the largest share of the market. It is projected to reach USD 490 million by 2026, at a CAGR of 3.0%, between 2021 and 2026. The growing building & construction sector in the region is projected to drive the market.
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The intumescent coatings segment is estimated for a larger market share
In the fire-resistant coatings market, the intumescent coatings category is expected to account for a greater market share. When subjected to high temperatures, intumescent coatings develop an insulating and protective char layer, providing fire protection to structural steel and other materials. When exposed to flames, these coatings expand, lowering the temperature and inhibiting fire propagation. The application of intumescent coatings in a range of end-use industries, such as construction, automotive, and oil & gas, is driving the market growth. The rising demand for fire-resistant coatings in residential, commercial, and industrial applications is likely to drive market expansion.
The building & construction industry is estimated to have the largest share in fire-resistant coatings market
The building and construction industry is a major user of fire-resistant coatings. Fire-resistant coatings are utilized in a variety of building materials, including steel, wood, concrete, and other building materials. The coatings act as a barrier between the material and the flames, slowing the progress of the fire and preventing it from causing too much harm. Fire-resistant coatings also serve to safeguard building inhabitants in the event of a fire by creating a barrier between them and the flames.
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The water-borne coatings technology segment is estimated to have a majority share in fire-resistant coatings market
Water-borne coatings technology is projected to continue dominating the market for fire-resistant coatings. This is because it has advantages over solvent-borne coatings technology, such as increased fire resistance, low Volatile Organic Compound (VOC) emissions, and zero or low toxicity. Water-borne coatings also improve adhesion, scratch resistance, and durability. Furthermore, the increased demand for eco-friendly coatings as a result of stringent VOC emission rules is expected to drive demand for water-borne coatings technology. Furthermore, the increased demand for fire-resistant qualities in numerous end-use sectors such as building, automotive, and consumer durables drives demand for these coatings.
By application techniques, the spray segment is estimated to have a majority share in fire-resistant coatings market
The spray segment is expected to dominate the fire-resistant coatings market. Spray-applied fire-resistant coatings are popular because they are simple to apply, cure quickly, and can be utilized on a variety of surfaces. Spray-applied fire-resistant coatings can be used to protect structural steel, concrete, and other materials from the destructive effects of fire. These coatings can aid in the retardation of fire spread, the reduction of smoke production, and the prevention of building collapse. They're widespread in commercial and industrial structures, as well as transportation vehicles like trains, buses, and airplanes.
Europe projected to account for the largest share of the fire-resistant coatings market during the forecast period
During the projected period, Europe is expected to account for the highest share of the worldwide fire-resistant coatings market. This is owing to the European Union's rigorous regulations and standards for ensuring building fire safety. The European Union has put in place several building fire-resistance standards, including the European Union Fire Safety Directive and the European Union Construction Products Regulation. As a form of fire prevention, these regulations require the use of fire-resistant coatings in structures. Furthermore, rising construction activity in the region is likely to fuel demand for fire-resistant coatings over the projection period.
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Asia Pacific is predicted to increase the most during the projection period. This is due to increased construction activity in the region, as well as the rising population and needs for high-performance coatings. Furthermore, the region's developing industrial sector is likely to fuel demand for fire-resistant coatings in the near future. Furthermore, rising awareness of the need of fire safety in buildings is projected to push demand for these coatings even further.
The leading players in the fire-resistant coatings market include AkzoNobel (Netherlands), PPG (US), Jotun (Norway), Sherwin-Williams (US), Hempel (Denmark) and others.
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