Emphasis on Type (Intumescent and Cementitious); Technology (Water-Borne, Solvent-Borne, and Others); Substrate (Metal, Wood, and Others); Application (Building & Construction, Industrial, Aerospace, and Others); and Region and Country
The global Fire-resistant Coatings market is likely to showcase a growth of around 4% during the forecast period. Globally, a fire caused heavy losses to the economy of a country. Each year, countries are facing severe negative impacts like death and economic losses. Developing nations of MEA and Asia-Pacific regions are among the largest victims of the fire. As a result, stakeholders related to the fields are continuously developing strategies and creating new innovations to reduce the cases of fire. The fire-resistant coating is one of the products available in the market which can help slow the spread of fire, stop the spread of fire, reduce the fire intensity, and reduce the smoke a fire produces. Thus, reduces the losses that occur due to fire. For instance, according to U.S. Fire Administration, between 2017-2019, an estimated average of 34,200 heating fires in residential buildings were reported each year. It caused an estimated annual average of 165 deaths, 600 injuries, and USD 367 million in property loss. Using fire-resistant coating, these losses can be reduced.
Insights Presented in the Report
“Amongst type, the intumescent fire-resistant coatings segment held a prominent share in the market in 2020.”
Based on type, the market is categorized into intumescent and cementitious coatings. Among these, intumescent held the major market share as Intumescent coatings react to the fire by swelling to many times their original thickness, in the process producing an insulating char. This char protects the substrate, such as exposed structural steel or sheetrock, from the effects of the fire. Further, an intumescent coating can prevent structural steel from buckling or collapsing in high heat for a period of time that can allow evacuation from the building and firefighting efforts. These coating can withstand temperatures in the range of 200°C to 600°C for a period of time.
“Amongst technology, the water-borne technology accounted for a considerable share in the global fire-resistant coatings market
Based on technology, the market is categorized into water-borne, solvent-borne, and others. Among these, water-borne coating technology is likely to showcase substantial growth during the forecast period. This can be attributed to the increasing demand for environment friendly products. Further, globally, perception regarding solvent-based coatings is increasingly getting adverse as consumer are becoming more aware of the harmful effects of volatile organic compounds (VOC). Increasing awareness coupled with stringent government regulation is supporting the market of waterborne coatings which have a lower VOC content.
“Europe captured a significant position in the fire-resistant coatings market”
For a better understanding of the market adoption of Fire-resistant Coatings, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Europe accounted for a significant share in the market and is expected to showcase substantial growth during the forecast period owing to the stringent regulations related to fire safety, initiatives taken for sustainable industrial development, and a strong focus on protection against fire. Further, increasing focus on green and smart buildings and high per-capita income coupled with awareness among consumers regarding fire-resistant coatings are propelling the demand in the region.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Fire-resistant Coatings Market Covid-19 Impact
6. Global Fire-resistant Coatings Market Revenue (usd Mn), 2019-2027f
7. Market Insights By Type
8. Market Insights By Technology
9. Market Insights By Substrate
10. Market Insights By Application
11. Market Insights By Region
12. Fire-resistant Coatings Market Dynamics
13. Fire-resistant Coatings Market Opportunities
14. Fire-resistant Coatings Market Trends
15. Legal & Regulatory Framework
16. Demand And Supply-side Analysis
17. Value Chain Analysis
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of Fire-resistant Coatings, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Fire-resistant Coatings industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Fire-resistant Coatings through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Fire-resistant Coatings market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment included in the report by type, technology, substrate, and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of Fire-resistant Coatings globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Fire-resistant Coatings. Further, we conducted factor analysis using dependent and independent variables such as stringent regulations related to fire safety and the growing construction industry. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the Fire-resistant Coatings industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Fire-resistant Coatings market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Fire-resistant Coatings market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of type, technology, substrate, and application.
The main objective of the Fire-resistant Coatings market study
The current & future market trends of global Fire-resistant Coatings were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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