A recent Frost & Sullivan analysis, Global Fire Protection Coatings Growth Opportunities, found an increasing rigor in regulatory and safety recommendations to enhance fire safety of buildings and structures across multiple sectors.
Oil and gas, petrochemical, chemical and related industries are accelerating the demand for fire protection coatings worldwide.
In fast-growing economies such as China, India and Southeast Asia, there is a growing awareness of the benefits of fire safety measures to protect people and property.
As a result, the fire protection coatings market will have the highest growth in Asia Pacific (APAC).
Coatings in Eastern Europe and many overseas installations, along with the rapid development of commercial and industrial sectors – will become the second largest market after Western Europe, followed by Europe, due to a surge in demand for both hydrocarbons and cellulose.
For more information on this analysis, see https://frost.ly/6l5.
Ganesh Jayant Dabholkar, Chemical, Materials, and Nutrition Research Analyst at Frost & Sullivan said, “Fire protection coating manufacturers are increasingly seeing the demand for more durable, fast-drying products from key stakeholders in buildings and structures exposed to hydrocarbon and cellulosic fire types. We are seeing a lot of it,” he said. “The growing demand for improved aesthetics (especially for external structural members) and reduced volatile organic compound (VOC) emissions will also contribute to increased market penetration for coating manufacturers.”
Dabholkar added: “The growing demand for intumescent and cementitious coatings that form thinner layers, dry faster and are easier to apply will drive innovation. In addition, hybrid, solvent-based intumescent coatings are increasingly penetrating the cellulose fire protection market. Similarly, more low-density cementitious coatings will be introduced to the hydrocarbon market over the next 3-5 years.”
Increasingly stringent fire standards and environmental sustainability regulations influence new product development and present favorable growth prospects for market participants. For continued growth, you need to consider:
Products with increased durability and cure speed: Manufacturers need to develop coatings that require no surface treatment, priming, or topcoat to help end users optimize project costs and reduce application time.
Product Development for Wood Substrates: Manufacturers of cellulosic intumescent coatings must take advantage of the emerging demands of end users of wood structural components in commercial and residential spaces.
Hybrid Cellulose Intumescent Coatings: Market participants should invest in research and development (R&D) and commercialization of hybrid cellulosic intumescent coatings to achieve greater market penetration.
Improved Low Density Cementitious Paints: Cementitious paint manufacturers can benefit greatly from improving the properties of their products in terms of coating weight, ease of application and drying time, which are the primary concerns of customers comparing the weight of intumescent and cementitious paints.