During the projected period, the fire retardant coatings industry size is expected to grow at a CAGR of 6%, reaching a market share of USD 9.17 billion in 2032, up from USD 4.83 billion in 2021. Fire retardant coatings work on the basis of the ability to suppress the production of gases produced at the time of the combustion process. Additionally, fire retardant coatings require relatively low maintenance costs – this is one of the superior properties of fire retardant coatings for gaining acceptance in several end-use industries.
The Asia Pacific region is expected to hold a major fire retardant coatings market share during the forecast period. Market key players are NIPPON PAINT Co. Ltd.S, Noble Paints, Akzo Nobel, PPG Industries, HEMPEL
Fire retardant coatings have been formulated in numerous types depending on base composition and substrate type. According to composition, fire retardant coatings are generally boron-based and phosphorus-based fire retardant coatings.
There is a substantial demand for fire retardant coatings due to the clearly expanding infrastructure of the industrial and commercial sectors, as well as associated electric supplies and operations, such as fireplaces, where the risk of accidents is higher.
Further, by product type, fire retardant coatings have two types including non-intumescent and intumescent fire retardant coatings. The fire retardant coatings find a wide range of applications in industrial, residential, and commercial sectors.
Global Fire Retardant Coatings Market: Industry Participants
The global fire retardant coatings market has a number of small as well as international manufacturers at a regional level. A few key players are identified across the value chain of the global fire retardant coatings market which have been listed below –
- NIPPON PAINT Co. Ltd.S
- Noble Paints
- HEMPEL
- Akzo Nobel
- PPG Industries
- Carboline
- Kansai Paints
- Jotun
- Promat International
- Nullifire
- GCC Applied Technologies
- Isolatek International
The global Fire retardant coatings research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The global Fire retardant coatings market also contains projections using a suitable set of assumptions and methodologies. The research report on the global Fire retardant coatings market provides analysis and information according to market segments such as geographies, applications, and industries.
Global Fire Retardant Coatings Market: Regional Outlook
Geographically, the global fire retardant coatings market can be segmented into seven key regions. Rapid industrialization and modernization will continue to drive market growth in developed economies. The regions like the Asia Pacific, Latin America, and MEA anticipated propelling the demand for fire retardant coatings in the near future, due to increasing industrial infrastructure and concern towards protecting property and safeguards across the regions.
Key Segments Profiled in the Fire Retardant Coatings Market Survey
By Product Type:
- Non-intumescent Fire Retardant Coatings
- Intumescent Fire Coatings
By Material:
- Boron-based Fire Retardant Coatings
- Phosphorus-based Fire Retardant Coatings
By End Use Industry:
- Automotive
- Oil & Gas
- Construction
- Electrical & Electronics
- Aerospace
- Marine
- Furniture
- Textile
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Japan
- Middle East and Africa
Read Old Study: https://finance.yahoo.com/news/fire-retardant-coatings-market-share-133000828.html
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