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.
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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 $3.2 billion in Gujarat refinery expansion petrochemical projects in June 2021. To run hindrance-free operations, these organizations are required to follow various hazard and fire safety protocols; which in turn will drive the demand for intumescent coatings. In the case of intumescent coatings, players are looking towards the adoption of epoxy coating owing to its offered benefits.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Fire Resistant Coatings Market Report by Segment
By Technology
- Solvent-Borne Fire Resistant Coatings
- Water-Borne Fire Resistant Coatings
By Coating Type
- Intumescent Fire Resistant Coatings
- Cementitious Fire Resistant Coatings
By Resin Type
- Silicon
- Epoxy
- Acrylic
- Vinyl
- Others
By End-User Industry
- Building & Construction
- Power
- Transportation
- Oil & Gas
- Others
Global Fire Resistant Coatings Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global fire resistant coatings market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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