Global Fireproofing Coatings Market Report Description:
Global fireproofing coatings market report gives comprehensive outlook on fireproofing coatings across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The report on global fireproofing coatings market gives historical, current, and future market sizes (US$ Mn) on the basis of type, application and region. This report studies global fireproofing coatings market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global fireproofing coatings market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global fireproofing coatings market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global fireproofing coatings market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global fireproofing coatings products.
Global Fireproofing Coatings Market:
The global fireproofing coatings market valued US XX Mn in 2019 and is poised to grow with a CAGR of XX% over 2020-2026. Some of the key factors fueling the market growth include rising demand for advanced light weight and thin film coatings, increasing investment in shale gas exploration, rapidly investing in R&D & capitalizing on emerging sustainability, growing number of construction projects, rising disposable income and use of fire proofing coatings in various end-users. However, negative impacts on the environment may hamper the market growth. In addition, advancements in technologies provide huge growth opportunity for the market growth.
Oil and Gas Accounts for Larger Market Revenue Share in Global Fireproofing Coatings Market
Oil and Gas accounted for larger revenue share in global fireproofing coatings market with a CAGR of XX% and is expected to grow over the forecast years. The oil and gas industry highly requires fireproofing coatings because they are exposed to high-temperature during horizontal drilling and refining. This drives the acceptance of coatings in this industry to protect steel and metal construction activities. They are also used in offshore and onshore applications and petroleum processing facilities to protect the steel structures from combustion during the combustion of hydrocarbon fuels such as methane, oil, liquefied petroleum gas (LPG), and liquified natural gas (LNG).
North America Accounts for Larger Market Revenue Share in Global Fireproofing Coatings Market
North America accounted for larger revenue share in global fireproofing coatings market with a CAGR of XX% and is expected to grow over the forecast years owing to the rising number of deaths owing to fire accidents. Increasing construction & renovation activities in U.S and Canada supported by rapid urbanization trends is likely to support demand. They are widely utilized in fire protection of structural steel, wood, and other components. Changing consumer perceptions on safety is likely to increase product penetration in residential construction which should boost the market.
Asia Pacific held substantial market share during predicted period owing to considerable rise in commercial infrastructure, industrial buildings, and road and railway networks. Also, the oil and gas industry in the region is growing due to the rising demand for energy and petrochemicals.
Key player’s profiles in the global fireproofing coatings market include:
- Altana Group
- Basf Coating
- Dai Nippon Toryo
- Dulux Group
- Kansai Paint
Global fireproofing coatings market is surging owing to expansion of their production facilities for fireproofing coatings to meet the demands of the customers in the market. For instance,
- In May 2017, AkzoNobel opened a new performance coating facility investing USD 35 million in Chonburi, Thailand aiming to meet the demand and serve their customers of Thailand and other South East Asian region. AkzoNobel also invested USD 15 million on February 2017 in UK to develop innovation hub by bringing in together over 100 scientists to revolutionize company product portfolio and product innovations.
Key Findings of the Report:
- Global fireproofing coatings market expanding at significant CAGR over 2020 to 2026 owing to rapidly investing in R&D & capitalizing on emerging sustainability
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global fireproofing coatings market
- Water-Based Coatings
- Solvent-Borne Coatings
- Oil-Based Coatings
- Oil and Gas
- Rest of Europe
- Au & NZ
- Rest of Europe
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market