Fire-Resistant Coatings Market is Expected to Rise at CAGR of 3.6% to Reach USD 1478.8 Million by 2032 | SNS Insider

Fire-Resistant Coatings Market Fueled by Safety Regulations, Eco-Friendly Innovations, and Rising Demand for Advanced Intumescent Coatings.

AUSTIN, TX, UNITED STATES, January 2, 2025 /EINPresswire.com/ -- The Fire-resistant Coatings Market Size was valued at USD 1079.4 million in 2023, and is expected to reach USD 1478.8 million by 2032, and grow at a CAGR of 3.6% over the forecast period 2024-2032.

Market Overview

The fire-resistant coatings market is witnessing rapid growth driven by the increased need for enhanced fire safety in buildings, industrial applications, and transportation. Fire-resistant coatings are used to improve the fire resistance of structural elements and are critical in sectors like construction, aerospace, and industrial manufacturing. According to the European Commission’s Joint Research Centre, fire safety in buildings has become a top priority, with new regulations demanding higher standards in fire prevention, especially in high-rise structures and public buildings. Recent trends show that fire-resistant coatings are increasingly being utilized in non-structural applications, such as equipment protection in industrial settings and components in aircraft, which is helping to drive growth. In 2023, companies such as AkzoNobel and Sherwin-Williams announced new product innovations and regional expansions aimed at capturing larger shares of the market. AkzoNobel, for instance, launched a new range of intumescent coatings for steel and wood to provide enhanced protection in high-risk environments. These innovations, along with growing fire safety concerns due to frequent industrial fires, are expected to further drive the market demand.

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Prominent Players:

• 3M (Fire Barrier Sealant IC 15WB+, Fire Barrier Water Tight Sealant 3000 WT)
• AkzoNobel (Interchar 212, Interchar 3120)
• Albi Protective Coatings (Albi Clad TF, Albi Clad TF+)
• BASF SE (KBS Foamcoat, Palusol fire-protection panels)
• Benjamin Moore & Co (Insl-x Fire Retardant Paint)
• Carboline (Firefilm A4, A/D Firefilm III)
• Contego International Inc. (Contego High Solids Intumescent Paint, Contego Reactive Fire Barrier Original Formula Intumescent Paint)
• ETEX group (fire-resistant boards, fire-resistant spray mortar)
• Flame Control Coatings, LLC (No. 10-10A, No. 20-20A)
• Hempel (Hempafire Pro 400, Hempafire Pro 315)
• Isolatek International (ISOLATEK Type 300, Firesolve SB)
• Jotun (SteelMaster 1200WF, SteelMaster 600WF)
• Kansai Paints (Kansai Nerolac Fire Coating)
• Nippon Paint Co., Ltd. (HI-PON 600 HT PRIMER, HI-PON 600 HT TOP COAT)
• No-Burn, Inc. (No-Burn Plus, No-Burn Original)
• PPG Industries (PPG STEELGUARD, PPG PITT-CHAR NX)
• RPM International (A/D FIREFILM III, Pyroclad)
• Sherwin-Williams (FIRETEX FX6002, FIRETEX FX5120)
• Sika (Sikaflex-400 Fire, SikaSeal-623 Fire+)
• Teknos (TEKNOSAFE FLAME PROTECT 2408-00, HENSOTHERM 920 KS)

What are the Growth Factors of the Fire-resistant Coatings Market?

• The increasing use of fire-resistant coatings in the construction industry to enhance building safety, particularly in urban areas, is driving market growth.
• The need for fire safety solutions in industrial sectors, such as manufacturing and oil & gas, is fueling the demand for fire-resistant coatings.
• Stringent global fire safety regulations and the introduction of advanced fire-resistant technologies with longer protection times are further boosting market expansion.

Environmental Impact of Fire-resistant Coatings: A Comparative Analysis

The environmental impact of fire-resistant coatings varies significantly across different types. Intumescent coatings are known for their low environmental impact and high recyclability, making them a sustainable choice as they use non-toxic, non-hazardous materials. Cementitious coatings, while moderately impactful, are recyclable but contain silica-based materials. Thin-film coatings, however, have a higher environmental impact due to the use of volatile solvents and chemicals, though they offer high durability. Fireproof paints are an eco-friendly option, as they use non-toxic polymers and provide high durability with low environmental impact. These variations highlight the importance of selecting the appropriate fire-resistant coating based on both performance and sustainability considerations.

Which Segment Dominated the Fire-resistant Coatings Market in 2023?

The Building & Construction segment dominated the Fire-resistant Coatings market in 2023, accounting for a 45% market share. This dominance is primarily due to the growing construction of high-rise buildings, residential complexes, and commercial structures, all of which require enhanced fire protection. As construction standards become stricter, the need for fire-resistant coatings, especially intumescent coatings, is surging to meet fire safety codes.

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Which Region Dominated the Fire-resistant Coatings Market in 2023?

Europe dominated the Fire-resistant Coatings market in 2023, holding a 40% market share. The region's dominance is driven by stringent fire safety regulations, increased demand for fire-resistant coatings in the construction industry, and a growing awareness of fire safety measures. Countries like the UK, Germany, and France have adopted stricter fire safety laws following several high-profile incidents, which has accelerated the adoption of fire-resistant coatings. Additionally, Europe has seen an uptick in the usage of innovative fireproof solutions in both public and private sector projects, further boosting market growth.

Recent Developments

• June 2024: Evonik expands its TEGO Therm product range, offering innovative coatings that provide heat protection and fire resistance for EV battery housings, addressing the need for thermal insulation to prevent thermal runaway.
• March 2023: RPM International Inc. acquiredNOW Specialties, LLC, a Texas-based company specializing in Metal and Aluminum Composite Material panels, adding approximately $20 million in annual sales to RPM’s Tremco Construction Products Group.

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