08 Nov Fire protection coatings market booms
Thanks to increasingly stringent fire standards and environmental regulations, the fire protections market is seeing an increase in demand.
Frost & Sullivan’s recent analysis, Global Fire Protection Coatings Growth Opportunities, estimated that the market is anticipated to grow to $2.74bn in revenue by 2027 up from $1.94bn in 2020.
According to the report, hydrocarbon cementitious and hydrocarbon intumescent are the main product types driving the overall market, followed by cellulosic intumescent and cellulosic cementitious.
“Fire protection coatings manufacturers are increasingly witnessing demand from key stakeholders of buildings and structures exposed to hydrocarbon and cellulosic fire types for more durable and faster-drying products,” said Ganesh Jayant Dabholkar, Chemicals, Materials and Nutrition Research Analyst at Frost & Sullivan.
“A rising need for improved aesthetics (especially for exterior structural members) and reduced volatile organic compound (VOC) emissions will also contribute to increased market penetration for coating manufacturers.”