Intumescent Coatings Market Assessment, By Product Type, By Coating Type, By Application, By End-use industry, By Region, Opportunities and Forecast, 2017-2031F
全球膨脹型塗料市場規模預計將從2023年的151.6千噸增至2031年的212.31千噸，2024-2031年預測期間複合年增長率為4.3%。膨脹型塗料透過提高耐火性並為大型結構的框架提供絕緣，逐漸使許多行業受益。例如，儘管存在政治不確定性和當前局勢，但 2023 年全球石油需求預計將同比增長 2.7 mb/d。根據石油輸出國組織 (OPEC) 的數據，非常規液體和 OPEC NGL 預計到 2022 年將增加 0.1 mb/d，達到平均 5.39 mb/d。
擁有大量設備和高吞吐量的石油公用事業通常在高溫下運行，所有設備都容易發生火災和持續損壞，這可能導致大規模停工和經濟損失。防火塗料是一個關鍵的解決方案，它為最大限度地減少不可預見事件的影響提供了重要的橋樑。膨脹型塗料透過開發用於鋼結構、加工管道、反應器和大型蒸餾塔的被動防火 (PFP) 方法，正在顯著改變石油和天然氣運作。此後，石油和天然氣行業超過 40% 的膨脹型塗料已經響應了消防安全標準實施意識的提高。海上和陸上石油和天然氣供應鏈均由高性能防火膨脹塗料提供支援。這些塗層為由天然氣、過氧化物和其他加工化學品組成的球形結構提供廣泛的保護。因此，石油和天然氣行業中必不可少的膨脹型塗料的整體有利市場因素正在促進膨脹型塗料市場的成長。
2020 年的 COVID-19 大流行加劇了經濟穩定性，因為實施封鎖措施導致對旅行必需燃料的需求減少。疫情期間，石油天然氣和建築業的收入大幅下降。此外，無法獲得房地產項目建設所需的資源和人力也對2020年膨脹型塗料市場的成長產生了重大影響。COVID-19大流行對中國的石油需求造成了毀滅性影響，並帶來了許多地緣政治不確定性。疫情期間，建設項目陷入停頓，迫使人們撤回資源，不再投資房地產項目。隨著中國對COVID-19措施的放鬆，亞太地區對中東高硫原油的需求依然強勁，印度和中國對流動性油的需求正在上升。2022年第二季全球進出口激增，膨脹型塗料供應增加。此外，隨著監管的放鬆和封鎖的解除，市場已從最差時期過渡到成長期，為膨脹型塗料市場創造了完美的市場機會。
Global intumescent coatings market is projected to witness a CAGR of 4.3% during the forecast period 2024-2031, growing from 151.6 kilotons in 2023 to 212.31 kilotons in 2031. Intumescent coatings are progressively benefitting numerous sectors by providing insulation to the massive structural frame along with making it fire-resistant. For instance, despite the political uncertainties and prevailing circumstances, global oil demand in 2023 is forecasted to grow by 2.7 mb/d y-o-y. According to the Organization of Petroleum Exporting Countries (OPEC), non-conventional liquids and OPEC NGLs are anticipated to grow by 0.1 mb/d in 2022 to an average of 5.39 mb/d.
The adoption of intumescent coatings is significantly increasing with the rising demand for crude oil and gas across North America, Asia, the Middle East, and Russia to protect steel structures and high-volume equipment from extreme conditions and processing temperatures.
The intumescent coatings market is experiencing massive growth due to the increasing requirement for protective coating formulation that effectively works against severe corrosion, thermal variation, and chemical and ultraviolent (UV) degradation, which frequently occurs in industrial and commercial constructions. Intumescent coating is a fire-retardant functional coating that provides insulation on metal and steel substrates, which are frequently exposed to thermal variation. Intumescent coatings effectively benefit numerous sectors like oil and gas, industrial as well as commercial construction, etc. Intumescent coatings are equipped with flame-retardant chemicals that accomplish distinct industry efficacy ratings. Fire-retardant coatings on exterior heating develop a foam layer by non-flammable gases like carbon dioxide and ammonia, which subsequently leads to a thick, highly insulating carbon layer. Intumescent coatings generally include technology related to styrene and vinyl toluene acrylics. Consequently, the extensive requirement for a coating solution to protect essential infrastructures is propelling the growth of the intumescent coatings market.
The large volume of equipment and high processing oil utilities usually operate at higher temperatures where all units are vulnerable to fire outbreaks and successive damage, which could lead to massive shutdowns and economic losses. Fire-resistant coatings are prominent solutions that progressively develop a significant bridge to minimize the impact of unwanted circumstances. Intumescent coatings are remarkably transforming oil and gas operations by developing methods of passive fire protection (PFP) for structural steel, processing pipelines, reactors, and large distillation columns. Over 40% intumescent coating in the oil and gas industry has subsequently fulfilled the rising awareness about implementing fire safety norms. Oil and gas supply chains are backed by high-performance fire-resistant intumescent coatings, whether in the offshore or onshore sectors. These coatings extensively preserve spherical structures comprising natural gases, peroxide compounds, and other processing chemicals. Hence, the overall favorable market factors for essential fire-retardant coating in the oil and gas sectors are contributing to the growth of the intumescent coatings market.
For instance, according to the International Energy Agency, the oil demand is anticipated to increase by 2.2 mb/day in 2023 to an average of 102 mb/day. China, being the world's second biggest oil user after the United States, will contribute to nearly 60% global growth in 2023. Also, a report published on Arabian Gulf Business Insight states that SLB' the world's largest oilfield services company has registered a massive growth of 6% summing to USD 6.6 billion where the sales in the Middle East and Asia grew by 22%. Furthermore, in 2022, SLB signed two major deals for drilling-related services, securing a five-year deal with ADNOC and QatarEnergy. In August 2023, the revenue for Russian oil exports increased by USD 1.8 billion to USD 17.1 billion where major shipments come from China and India.
Intumescent coatings are successively used in protecting various high-rise structures and enhancing their durability against exposure to unfavorable environmental conditions. Under severe heat circumstances, steel, despite being the strongest metal used in construction, can subsequently lose its capacity and strength to hold infrastructure. Intumescent coating products comprise fire-retardant paint, which includes flame-damping gas, that provides heat resistance and consequently restricts the spread of flame across an exposed surface. The intumescent coating can be applied on steel either as thin film or thick film coating where the applied coating substantially protects the steel against massive fire and acts as an insulator while forming a solid char. They are usually inert at low temperatures but at a higher temperature (200-250 °C) form insulation due to occurring complex chemical reactions. Intumescent coatings are applied to insulate the structural elements like beams, roofs, columns, and floors. Hence, the intumescent coatings market is anticipated to experience massive growth due to the growing infrastructure projects either commercial or industrial.
For instance, in 2022, under Global Water Partnership (GPW), the management was strictly focused on incorporating 2020-2025 strategy plans where the investment is added around USD 368.86 million. In 2022, GPW encouraged the mobilization of USD 1.5 million for Southern African Development Community (SADC) countries under the GCP Project Preparation Facility. Likewise, data published by the European Construction Industry Federation (FIEC) in July 2023, states that the construction of new household buildings contribute to around 20.6% of the total construction investment across Europe. It also focused on two countries Portugal and Ireland which are anticipated to see investments in construction during the year. Therefore, the increasing building & construction activities are accelerating the development of steel civil construction, which, in turn, is driving the market growth.
There is a higher demand for non-commercial buildings, along with fuel consumption, in the Asia Pacific region. India is becoming a leading hub of construction business which is encouraging real-estate investors to develop sustainable infrastructure projects. In addition to construction, public and private oil & gas companies, like Reliance Industries Ltd. (RIL) and Indian Oil Corporation (IOC), have commissioned various projects to fulfil the rising demand and become an exporter of oil and gas. Intumescent coatings deliver an imperative role in the oil and gas industry to protect steel and other metals from the combustion of oil, liquid petroleum gas, and liquid nitrogen gas (LNG). The increment in mobility across India and China has substantially increased the consumption of fuels, gasoline, and diesel along with prominent industrial projects.
According to India Brand Equity Foundation, during 2022, the crude oil production in India was around 30.5 million metric tons. It also states that in June 2021, Indian Oil Corporation (IOCL) invested around USD 3.2 billion to expand the petrochemical projects in the Gujarat refinery. Additionally, data released by the Organization of Petroleum Exporting Countries (OPEC) states that the crude oil imports during May 2023 in China averaged around 10.8 mb/d. OECD demand is anticipated to rise by 06 mb/d while non-OECD oil demand is forecasted to reflect an increase of 2.1 mb/d where the maximum contribution is from China and India. Therefore, with such a definite investment, the Asia-Pacific region is considered a prominent contributor to the growth of the intumescent coatings market.
The lower demand for essential mobility fuels due to the imposition of lockdown measures had deteriorated economic stability owing to the COVID-19 pandemic in 2020. The revenue for the oil and gas and construction sectors drastically reduced during the pandemic. The unavailability of resources and manpower for building real estate businesses also significantly affected the intumescent coatings market growth in 2020. The COVID-19 pandemic had a devastating impact on China's oil demand, along with numerous geopolitical uncertainties. The shutdown of construction projects during the pandemic forced people to revert their resources and go with less investment in real estate projects. The ease of China's COVID-19 measures led to firm demand for Middle East Sour crude from the Asia Pacific, with the rising demand for mobility oil in India and China. In the 2nd quarter of 2022, the supply of intumescent coatings increased as there was a surge in the import and export activities at the global level. Consecutively, the ease in restrictions and removal of lockdown shifted the worst phase of the market to probable growth, deriving impeccable market opportunities for the intumescent coatings market.
The rising intumescent coatings market has encouraged prominent companies to develop intumescent coatings with extensive applications in real estate and oil and gas sectors. The leading global companies in the intumescent coatings market are progressively developing intumescent coatings that benefit prominent sectors. The Sherwin-Williams Company is a leading provider of intumescent coating solutions, covering prominent sectors of fire safety concerns. Their registered FIRETEX cellulosic intumescent coatings are specifically designed to meet the highest performance and deal with harsh environmental conditions. These coating solutions provide smooth, hard finish insulation that substantially increases the aesthetic appeal of exposed steel surfaces. Their epoxy intumescent coatings effectively protect themselves from the hazards of cryogenic liquified natural gas (LNG) spills on steel surfaces, considering the effect of flue gases and hydrocarbon fire.
In June 2023, The Sherwin-Williams Company commenced the best technology to mitigate the severe corrosion condition under insulation (CUI) by introducing a new line of Heat-Flex CUI-mitigation coatings. In March 2023, The Sherwin-Williams Company & Marine launched two innovative interior marine decking solutions for commercial and government applications.
All segments will be provided for all regions and countries covered:
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.