Application-specific Growth in Fire-resistant Coatings Market: Comprehensive Global Forecast to 2026Posted by Jack Martin on July 3rd, 2024 The fire-resistant coating is applied to surfaces to control and evade the spread of fire in buildings and construction and several other industrial areas. It is often required to protect both flammable and non-flammable products against fire. Industrially, there are two main types of fire-resistant coatings—intumescent coatings and cementitious coatings. Intumescent coatings are applied to structural steelwork, which forms an impervious layer, such as char, when exposed to fire, which, in turn, delays the heating of steel. The cementitious coating is an inexpensive fire-resistant method that is made up of gypsum, binder, and other additives that provide protection against fire. These coatings are mainly used in ambient moisture and dry environment, and the material is substantially lighter than dense concrete. The selection of fire-resistant coatings depends on construction types, fire safety norms, international building standards and regulations, and potential fire. These coatings are used in commercial and residential buildings and industrial applications. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=95861153 According to MarketsandMarkets, the global fire-resistant coating market size to reach USD 1,106 million by 2026, at a CAGR of 3.5%. Increasing awareness and emphasis on safety measures as well as increasing preference for lightweight materials, which require additional protection, are expected to drive the market. The stringent regulations and norms are also supporting market growth, as the newly constructed buildings and manufacturing plants need to meet the required safety and fire resistance standards. The use of steel in construction activities is increasing because of its high tensile and compressive strength, low price, and recyclable nature. Therefore, with the rise in demand for steel in building & construction activities, the use of fire-resistant coatings is also expected to increase across the globe. The fire-resistant coatings market is segmented based on technology as solvent-borne and water-borne coatings. water-borne fire-resistant coatings are eco-friendly in nature and have low VOC content. Rising awareness and regulatory policies, regarding the use of eco-friendly coatings in the building & construction industry, are driving the demand for water-based fire-resistant coatings. Solvent-borne fire-resistant coatings are widely used in residential and commercial construction and the oil & gas industry. The use of solvent-based technology emits VOCs through evaporation. Fire-resistant coatings can be applied by using two techniques, namely, brush & roller and sprays. Spray technique that requires specialized equipment is mainly used by licensed applicators or coating service providers. Spraying can be used to apply both thin-film and thick-film fire-resistant coatings. The brush & roller technique is mostly used for thin-film fire-resistant coatings. They are economical for the application of fire-resistant coatings. The fire-resistant coatings market is segmented into four types based on their application, namely, building & construction, industrial, aerospace, and others. In the building & construction segment, the residential, commercial, and institutional buildings are considered. Fire-resistant coatings are used in the building & construction industry to adhere to the building and fire safety codes and regulations. The industrial segment includes the oil & gas and chemical industries Fire-resistant coatings are used in reactor vessels, control systems, LNG gas tanks, cryogenic spill protection, and transport pipelines. Fire-resistant coatings are used in a variety of components in the aerospace industry, including aviation fuel pumps, interior cabin parts, hydraulic landing gear parts, and engine nacelles. Metals and wood are the major substrates onto which fire-resistant coatings are applied. Metals such as steel & iron are widely used as a building material in the building & construction industry. The use of a fire-resistant coatings, such as intumescent coatings, forms a charred layer above the steel surface, thereby delaying the structural collapse. Wooden substrates find application in the manufacturing of frames, staircases, floors, ceilings, claddings, and doors made of wood or wooden derivatives. Several paints & coatings manufacturers are emphasizing the development of new products to gain a competitive edge over the other players. Other substrates include electrical cables, walls, fiberglass, and plasterboards. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=95861153 The global fire-resistant coatings market, by region, is segmented into APAC, North America, Europe, the Middle East, South America, and Africa. APAC is projected to be the fastest-growing market. Europe led the fire-resistant coatings market followed by North America. In Europe and North America, the technical regulations pertaining to fire safety in building & construction and manufacturing sectors were enforced to ensure safety and protection from fire accidents. The leading players in the fire-resistant coatings market include AkzoNobel (Netherlands), PPG (US), Jotun (Norway), Sherwin-Williams (US), Hempel (Denmark). and others. Read Our Trending Press Release Below: Like it? Share it! More by this author |