Growing construction and renovation activities to augment global intumescent coatings market outlook over 2020-2026
Selbyville, Delaware, United States, September 10 2020 (Wiredrelease) Global Market Insights, Inc –:The global intumescent coatings market is projected to witness a period of significant proliferation over the coming years owing to the increasingly stringent government norms and strict compliances to fire safety initiatives across the globe. The demand for intumescent coats is also increasing owing to shifting consumer view-points towards fire safety and the subsequent adoption of precautions that need to be taken to ensure fire safety.
Additionally, along with the aforementioned growth-driving trends, the growing need for low VOC emission coatings is also likely to add up to the overall industry outlook through the projected analysis period.
According to Global Market Insights Inc., the global intumescent coatings market is projected to surpass a valuation of $1.3 billion by the end of 2026.
Rising adoption of intumescent coatings across the global construction sector
The construction sector is observing a period of tremendous growth over the past few years and is likely to see this growth trend continue over the coming years owing to the increasing population and the rising middle-class across the world.
Growing renovation and construction activities, which are supported by rapidly increasing investments towards the modernization of existing infrastructure would further complement the market size. Intumescent coatings are utilized to strengthen bars, steel columns, and standings while also providing high resistance to a plethora of environmental susceptibilities like air, chemicals, and moisture.
Additionally, an upsurge in the construction of high rise buildings coupled with strict regulatory norms that focus on decreasing the overall number of fatalities caused by fire breakout would further accelerate the overall market size growth.
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Increasing usage of the solvent-based intumescent coatings
Based on the technology segment, solvent-based intumescent coatings are estimated to foresee a rising demand owing to their extensive use for passive fire protection, particularly in off sight applications where heat and humidity resistance are the most primary parameters.
Additionally, the compatibility of solvent-based intumescent coatings with several materials, its high chemical and thermal resistance, as well as its economic nature are among some of the exclusive features that are driving their demand across the overall intumescent coatings market landscape.
In addition, the growing demand for stringent safety parameters in high-performance vehicles is likely to be another key factor proliferating the segment share.
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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