Intumescent Coatings Market analysis by Fact MR identifies leading segments in terms of Resin Type, End USe Industry, and Region. The study is intended to inform business about key trends influencing behavior pattern of consumers. It also offers recommendations to help them make informed decisions and navigate through unforeseen challenges.
Award-winning consulting firm Fact.MR’s global report on intumescent coatings forecasts a positive outlook, projecting a CAGR of approximately 3%, to be valued at a little over US$ 1 billion by 2031. Growth is majorly expected to be pivoted by extensive application across industries such as oil & gas, construction, and automotive manufacturing.
The market accrued impressive gains in recent years, being valued at just over US$ 900 million in 2020. Increasing awareness, regulations, and emphasis regarding safety measures for the building & construction as well as rising preference for lightweight materials are driving market growth. Moreover, increasing episodes of fire hazards are prompting industries to invest in high-grade fire safety solutions.
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According to the World Health Organization (W.H.O), an estimated 180,000 deaths occur each year from fires alone, with more deaths from scalds, electrical burns, and other forms of burning. Over 90% of these deaths occur across low- and middle-income countries. While a lot burns are a result of accidents across residential settings, fire hazards across industrial settings are rampant, comprising most of all burn injuries and accidents. Hence, key end users are increasing uptake of intumescent coatings to mitigate these tragedies.
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Major intumescent coating manufacturers are majorly reliant on forging strategic collaborative agreements, mergers & acquisitions, product launches, and acquiring certifications for existing their product lines to secure a firm footing across the international marketplace.
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Fact.MR, in its new offering, presents an unbiased analysis of the intumescent coatings market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of resin (epoxy, acrylic, polyurethane, alkyd, and other resin types) and end-use industry (building & construction, automotive, oil & gas, and other end-use industries), across five major regions of the world (North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa).
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