Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Fire Protection Coatings marketplace is influenced by a variety of market dynamics that collectively shape it. For example, one of the major drivers is that today, various industries, such as oil and gas, construction, and manufacturing, are increasing their awareness about fire safety. The value of the Fire Protection Coatings Market Size was estimated at USD 0.99 Billion in 2022. The Compound Annual Growth Rate (CAGR) for the Fire Protection coating market sector will be approximately 4.00%, ranging from USD 2.3 Billion in 2023 to USD06 Billion by 2030. Strict rules and regulations have a significant impact on the fire protection coatings market. Governments across the globe are imposing stringent regulations to improve fire safety in buildings and industrial complexes around them. Global economic trends play an important role in shaping the Fire Protection Coatings market as well as other markets for fire protection products. Economic growth, construction activities, and industrial expansion contribute to the demand for fire protection coatings. Moreover, increased investments in infrastructure projects and smart city developments also fuel its growth.
Innovation and technological advances are some of the key factors that determine the state of the Fire Protection coating market today. Research underway continues to develop new formulations that provide better resistance to fire, easier application methods, and durability, among others. The main concerns for companies involved in producing this type of finishing materials include the prices of raw materials or their availability on the market. The prices paid for these materials, including intumescent agents or flame retardants, directly affect the costs incurred while making these products. The fire Protection coating industry has a high competition level, with many players competing against each other globally. Several hundred manufacturers are operating within this industry, starting from big multinational corporations and ending with small specialized regional players, which create a special competitive environment.
Geopolitical influences also have a great impact on the Fire protection coating industry, which can result in less supply of this product because of trade policies, import-export regulations, and geopolitical tensions. Manufacturers need to keep an eye on changes in international trade conditions in order to identify possible disruptions and adjust their strategies accordingly. Also, choices made by customers and awareness levels greatly determine how firms compete with one another. An improved understanding of advantages such as property protection, enhanced safety, and adherence to legal requirements drives the market growth for fire protection coatings. Manufacturers often develop products that meet changing consumer preferences; these can include features like ease of application, environmental sustainability, or compatibility with different substrates.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 4.00% (2023-2030) |
Fire Protection Coatings Market Highlights:
Global Fire Protection Coatings Market Overview
Fire Protection Coatings Market Size was valued at USD 1.03 Billion in 2023. The Fire Protection Coatings industry is projected to grow from USD 1.07 Billion in 2024 to USD 1.46 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4% during the forecast period (2024 - 2032). The Fire Protection Coatings Market is set to grow at a higher CAGR owing to stringent regulations and the growing demand observed in end-use industries such as oil & gas, buildings and construction, automotive, aerospace, electrical & electronics, marine, and others are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Fire Protection Coatings Market Trends
-
Growing demand observed in end-use industries to boost market growth
The demand for fire protection coatings has been growing steadily in recent years, driven by various end-use industries' increasing awareness of the need for fire protection. Industries such as construction, oil and gas, transportation, and aerospace are some of the main users of fire protection coatings. These industries face significant risks of fire, and protecting their assets and personnel is of paramount importance. Fire protection coatings offer a cost-effective solution to mitigate fire risks and limit the spread of fire in case of an incident.
Moreover, regulatory requirements have also been driving the growth of the fire protection coatings market. Governments and regulatory bodies around the world have been introducing stricter fire safety regulations for buildings, infrastructure, and industrial facilities. This has led to increased demand for fire protection coatings that meet or exceed these regulatory standards. Overall, the growing demand for fire protection coatings is a result of various factors, including increasing awareness of fire safety, expanding end-use industries, and stricter regulations. The trend is likely to continue as more industries and governments recognize the importance of fire protection in safeguarding their assets and people. Therefore, such factors related to Fire Protection Coatings have enhanced the Fire Protection Coatings market CAGR across the globe in recent years.
Fire Protection Coatings Market Segment Insights
Fire Protection Coatings Type Insights
The Fire Protection Coatings market segmentation, based on type, includes Passive Fire Protection Coatings and Active Fire Protection Coatings. The Passive Fire Protection Coatings segment held the majority share in 2022 of the Fire Protection Coatings market revenue. Passive Fire Protection Coatings are coatings that are designed to resist or prevent the spread of fire without requiring any external activation, such as water or electricity. These coatings include intumescent coatings, cementitious coatings, and fireproofing sprays, among others. Passive fire protection coatings are widely used in the construction and industrial sectors to protect buildings, equipment, and personnel from fire hazards.
Fire Protection Coatings Type Insights
Based on application, the Fire Protection Coatings market segmentation includes Oil & Gas, Buildings and Construction, Automotive, Aerospace, Marine, Electrical & Electronics, and Others. The Buildings and Construction segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. The segment is expected to grow at a faster pace than other segments, driven by increasing construction activities, rising demand for fire-resistant building materials, and stringent fire safety regulations. These all factors for Fire Protection Coatings positively impact the market growth.
Figure 2: Fire Protection Coatings Market, by Type, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Fire Protection Coatings Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region is currently the largest and fastest-growing market for fire protection coatings, and it is estimated to hold a major share of the market in the coming years. The Asia Pacific region has been experiencing rapid urbanization, industrialization, and infrastructure development, which have been driving the demand for fire protection coatings. The construction and industrial sectors are the major users of fire protection coatings in the region, given the high risks of fire in these industries. In addition, the Asia Pacific region has been witnessing significant government initiatives aimed at improving fire safety and prevention measures. Governments in the region have been introducing new fire safety regulations and standards, which have increased the demand for fire protection coatings that comply with these regulations.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: FIRE PROTECTION COATINGS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s Fire Protection Coatings market accounts for the third-largest market share. The demand for fire protection coatings has been driven by the increasing focus on fire safety and prevention measures, particularly in the construction sector. The European Union has introduced several regulations and standards aimed at improving fire safety in buildings and infrastructure, which has increased the demand for fire protection coatings that comply with these regulations. Further, the Germany Fire Protection Coatings market held the largest market share, and the UK Fire Protection Coatings market was the fastest-growing market in the European region.
North America, Fire Protection Coatings market, is expected to grow at the fastest CAGR from 2023 to 2030. The demand for fire protection coatings has been driven by the increasing number of high-rise buildings, strict building codes and regulations, and the growing awareness of fire safety. The United States is the largest market for fire protection coatings in North America, followed by Canada and Mexico. Moreover, the U.S. Fire Protection Coatings market held the largest market share, and the Canada Fire Protection Coatings market was the fastest-growing market in the North American region.
Fire Protection Coatings Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Fire Protection Coatings market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Fire Protection Coatings industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Fire Protection Coatings. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Fire Protection Coatings industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Fire Protection Coatings industry to benefit customers and expand the market sector. Major Fire Protection Coatings market players, including PPG Industries, Akzo Nobel N.V., The Sherwin-Williams Company, RPM International Inc., Nippon Paint Holdings Co, Axalta Coating Systems, LLC, The Valspar Corporation, BASE Coatings, KANSAI PAINT CO., LTD, and others, are attempting to increase market demand by funding R&D initiatives.
PPG Industries, Inc. is a U.S.-based multinational corporation that specializes in manufacturing and selling a wide range of coatings, specialty materials, and glass products. PPG's products are used in various industries, including aerospace, automotive, construction, consumer goods, and industrial manufacturing. The company's coatings products include architectural coatings, automotive coatings, industrial coatings, protective and marine coatings, and specialty coatings. In addition to its coatings and materials products, PPG also produces glass products for various applications, such as automotive glass, flat glass, and fiberglass.
Akzo Nobel N.V. is a Dutch multinational corporation that specializes in the manufacturing and sale of coatings and specialty chemicals. Akzo Nobel's products are used in various industries, including aerospace, automotive, construction, marine, and oil and gas. The company's coatings products include decorative paints, marine coatings, powder coatings, and vehicle refinishes.
In 2019, AkzoNobel introduces a new fire protection system for wood facades. The fast-drying Sikkens system is the company's most recent technological breakthrough, developed to address the challenges posed by the world's harshest environments. It provides great fire resistance, long-term beauty, and significant increases in production efficiency. The system was approved in Europe in accordance with the required requirements for fire reactivity, ignitability, and durability, and it is categorized as B, the maximum fire-retardant rating that can be expected for an organic material like wood.
Key Companies in the Fire Protection Coatings market includes
-
PPG Industries
-
Akzo Nobel N.V.
-
The Sherwin-Williams Company
-
-
Nippon Paint Holdings Co
-
-
The Valspar Corporation
-
BASE Coatings
-
KANSAI PAINT CO., LTD among others
Fire Protection Coatings Industry Developments
February 2023: PPG industries announced the launch of PPG STEELGUARD 951 coating, an epoxy intumescent fire protection coating.
In the year 2023: Jotun has announced the launch of the Jotachar JF750 XT in 2023, which represents a significant step forward in passive fire protection for oil, gas, and energy assets. Jotachar JF750 XT delivers certified and proven all-climate performance thanks to its unique, patent-pending technology that ensures dependable performance even in extreme conditions. The launch comes after five years of comprehensive internal and third-party testing, including real-world exposure to a variety of external settings, including exposure at Jotun's Svalbard test site, the industry's only Arctic testing station for coatings.
Fire Protection Coatings Market Segmentation
Fire Protection Coatings Type Outlook
-
Passive Fire Protection Coatings
-
Active Fire Protection Coatings
Fire Protection Coatings Application Outlook
-
Oil & Gas
-
Buildings and Construction
-
Automotive
-
Aerospace
-
Marine
-
Electrical & Electronics
-
Others
Fire Protection Coatings Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
