According to the World Health Organization (W.H.O. ), fires cause an estimated 180,000 deaths each year, with scalds, electrical burns, and other types of burning causing many more deaths. More than 90% of these deaths take place in low- and middle-income nations. While many burns occur as a result of accidents in domestic settings, fire dangers are common in industrial settings, accounting for the majority of burn injuries and accidents. As a result, important end users are increasing their use of intumescent coatings to prevent disasters.
According to Fact.MR, global intumescent coating sales are expected to grow at a 3 percent compound annual growth rate (CAGR) to over US$ 1 billion by 2031, with broad use for passive fire protection taking centre stage.
In recent years, the market has grown significantly, and it is now worth just over US$ 900 million in 2020. Market expansion is being fueled by expanding awareness, laws, and attention on building and construction safety, as well as a growing desire for lightweight materials.
Key Market Segments Covered
- Resin Type
- Epoxy Intumescent Coatings
- Acrylic Intumescent Coatings
- Polyurethane Intumescent Coatings
- Alkyd Intumescent Coatings
- Other Resin Types Intumescent Coatings
- End-Use Industry
- Intumescent Coatings for Building & Construction
- Intumescent Coatings for Automotive
- Intumescent Coatings for Oil & Gas
- Intumescent Coatings for Other End-Use Industries
Furthermore, an increase in the number of fire incidents is forcing businesses to invest in high-quality fire safety systems. Akzo Nobel, Jotun, Contego International Inc., Hempel A/S, Albi Protective Coatings, BASF SE, Rudolf Hensel GmbH, The Sherwin Williams Company, No Burn Inc., Demilec Inc., Sika AG, Teknos Group Oy, Nullifire Ltd., PPG Industries Inc., PPG Industries Inc., PPG Industries Inc., PPG Industries Inc., PPG Industries Inc., PPG Industries Inc.,
Geographic expansion, alliances, mergers and acquisitions, and new product releases are all examples of strategic activities used by leading corporations to solidify their market presence. The following are some noteworthy developments:
In March 2021, Akzo Nobel teamed up with QLayers to purchase a stake in the latter’s industrial coatings portfolio, as part of the latter’s Paint the Future collaborative innovation ecosystem.
Hempel A/S also opened a new campus in Copenhagen, Denmark, in the same month, which is an R&D centre that will serve as a hub for international scientists and help accelerate and strengthen the creation of creative solutions.
Albi Protective Coatings received GREENGUARD Gold Certification for four of its products in January 2021: Albi Clad TF+, Albi Clad TF, Albi Clad TF, Albi Clad FP, and Albi Cote FRL-X.
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