Global Intumescent Coatings Market 2017-2021 

Overview of the global intumescent coatings market

Technological advancements such as the emergence of hydraulic fracturing technique is driving the production of shale gas. This in turn, creates a significant growth opportunity for industries that use shale gas including oil and gas and power. Shale gas is highly preferred in several end-user segments since it emits less amount of carbon. Shale gas reserves are present across the world and is highly produced in countries such as China, Canada, and the US. Our research analysis on the global intumescent coatings market identifies that the increase in shale gas exploration activities will be one of the major factors that will have a positive impact on the growth of the market. Shale gas exploration activities at production sites involve hydraulic fracturing techniques, which can result in fire break. This will drive the need for intumescent coating or fire retardant paints to prevent hazardous conditions. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 5% by 2021.

China is witnessing a considerable rise in commercial infrastructure, industrial buildings, and road and railway networks. Also, the oil and gas industry in APAC is growing due to the rising demand for energy and petrochemicals. Countries such as India, Malaysia, Indonesia, China, South Korea and Japan are experiencing an increase in the offshore drilling activities. Such factors will consequently result in an increase in demand for intumescent paint coatings in APAC. For instance, the Bison, Iguana, and Gajah Puteri (BIGP) project in Indonesia involve the development of three oil and gas fields in Iguana, Bison, and Gajah Puteri regions.

Competitive landscape and key vendors