The global fire resistant coatings market is anticipated to grow at a CAGR of 4.5% during the forecast period. A significant rise in oil & gas production projects across the globe is a key factor driving the growth of the global fire resistant coatings market. The oil and gas industry contributes over 40.0% of intumescent coatings demand, backed by the increasing awareness about enforcing fire safety norms related to the industry. Looking towards the market demand, several key players are investing in intumescent coatings. According to India Brand Equity Foundation (IBEF), in India, in March 2021, crude oil production stood at 2.6 metric million tons, while for FY-21, it was 30.5 metric million tons.
Browse the full report description of “Fire Resistant Coatings Market Size, Share & Trends Analysis Report, By Technology (Solvent-Borne Fire Resistant Coatings and Water-Borne Fire Resistant Coatings), By Coating Type (Intumescent Fire Resistant Coatings and Cementitious Fire Resistant Coatings), By Resin Type (Silicon, Epoxy, Acrylic, Vinyl, and Others), By End-User (Building & Construction, Power, Transportation, Oil & Gas, and Others), Forecast Period 2022-2028” at https://www.omrglobal.com/industry-reports/fire-resistant-coatings-market
Further, Indian industry giants such as Reliance Industries Ltd. and Indian Oil Corp. have signed up for oil refinery expansion projects. For instance, Indian Oil signed up to invest $3.2 billion in Gujarat refinery expansion petrochemical projects in June 2021. To run hindrance-free operations, these organizations are required to follow various hazard and fire safety protocols; which in turn will drive the demand for intumescent coatings. In the case of intumescent coatings, players are looking towards the adoption of epoxy coating owing to its offered benefits.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Technology
o By Coating Type
o By Resin Type
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- 3M Co., Akzo Nobel N.V., RPM International Inc., PPG Industries, Inc., and The Sherwin-Williams Company.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Fire Resistant Coatings Market Report by Segment
By Technology
By Coating Type
By Resin Type
By End-User Industry
Global Fire Resistant Coatings Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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