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The Intumescent Paint Industry: Market and Forecast

Sep 26, 2018

Intumescent coatings are designed to provide protection to timber, steel and other construction materials from fire. At Permax we are focussed on providing intumescent solutions for structural steel given its multiple advantages, albeit, it is worth noting we specialise in thin film intumescents (those for cellulosic fires) as opposed to Intumescent paint coatings with thick films which are used against hydrocarbon fires.

With the higher regard than ever for safety of building occupants in case of fire, it should not come as a surprise that the demand for fire protection is on the rise, especially for buildings and infrastructure with high fire risks. In fact, the Global Intumescent Coatings Market 2017-2021 Report reveals that the intumescent coatings market around the world is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.94% in the duration between 2017 and 2021.

The Industrial Growth

Market growth can be attributed to emerging countries, which are experiencing a rapid growth in infrastructure developments.  Region-wise, the promising markets for intumescent fireproofing coatings are Asia Pacific (APAC), the Americas, regions of Europe, the Middle East and Africa (EMEA). According to a 2016 industry report of Global Market Insights, APAC is forecasted to experience maximum gains within the 2016-2024 period especially in China and India where strong indicators for construction industry growth is expected within the timeframe.
Furthermore, GMI's report indicates that when it comes to intumescent fireproofing paint coatings by end-use, the market share for construction will increase more than 5% CAGR on a worldwide basis between 2016-2024. Complementing this boost in market share are the stringent government regulations for fireproofing and fire safety in residential and commercial construction projects as well as the governments' activities on civil infrastructure upgrades. 

The Future of Intumescents

Intumescent paint for steel beams and other related materials are based on epoxy technology for hydrocarbon fires and either solvent-borne or water-borne technology for cellulosic fires. Of these technologies, water-based coatings are expected to have the highest growth by 2024, according to GMI's report, due to the coatings' environmental-friendly properties.
Furthermore, the share for cellulosic intumescent coatings, which have demand in the automotive and construction sectors, are expected to gain more than 4.5% CAGR by 2024.   
It's also worth noting that industry analysts are forecasting an increasing market trend towards "nano" intumescent coatings, which have ultra-small polymers that may help protect light materials such as fabrics and clothing from fire. This is an area to watch as it holds extensive promise for the entire construction industry. 
For the next five years, the shift to intumescent paints and passive fire protection coatings is expected to grow even more. With their relative low costs and hassle-free application, it is clear to see why more and more construction companies and designers are drawn to these revolutionary fire-resistant coatings.
Learn more about our hybrid and water-based intumescents by speaking to a Permax expert today.
 

This entry was tagged : growth, industrial

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