Fire Protection Coating Market Share by type and Application Forecast to 2023

Fire Protection Coatings are composed of different fillers and flame additives. They are used to prevent the rapid spread of fire flames across the surface and control the period of excessive heat. Additionally, they also suppress the production of gases produced during the combustion of materials. Excellent fire performance, strength, lightweight and low installed cost are the important trends and factors influencing the market emphatically. It is projected that the Fire Protection Coatings Market is set to grow at a higher CAGR owing to stringent regulations and the growing demand observed in end-use industries such as oil & gas, buildings and construction, automotive, aerospace, and electrical & electronics, marine, and others. As per our market analysis, the Global Fire Protection Coatings Market is segregated into type and application. The market by type is further categorized into passive fire protection and active fire protection coatings. Passive fire protection coatings involves components of construction methods such as concrete, structures, compartment, among others. They are known for their minimal maintenance work and environment compatible nature. Due to these features, the market is projected to witness a rapid growth in the passive Fire Protection Coating Segment.

Key Players:

Some of the prominent players functioning in the Global Fire Protection Coatings Market PPG industries (U.S.A.), Akzo Nobel N.V. (the Netherlands), The Sherwin-Williams Company (U.S.A.). RPM International Inc. (U.S.A.), Nippon Paint Holdings Co.(Japan), Axalta Coating Systems, LLC(U.S.A.), The Valspar Corporation( U.S.A.), BASE Coatings (Germany),  KANSAI PAINT CO.,LTD (Japan), among others.

Segmentation Analysis:

The Global Fire Protection Coatings Market is segmented into type and application. On the basis of type, the market is classified into active and passive Fire Protection Coatings. Among these, passive Fire Protection Coatings segment is projected to hold the major share in the market owing to its excellent fire performance, light weight and durability features. Applications segment further differentiated into oil & gas, buildings and construction, automotive, aerospace, marine, aviation, and others. Among these, buildings and construction is estimated to be the leading segment in this market.

Regional Analysis:

The Global Fire Protection Coatings Market is segmented into five crucial regions namely Asia Pacific, North America, Europe, Latin America and the Middle East & Africa. Among these, Asia Pacific is estimated to hold the major share in the market due to growing production of coatings and rising demand from major end industries such as buildings and construction, automobile, defense, and others. Countries such as China, Japan and India have emerged as the leading players in this region. The growing demand from the major industries has propelled passive fire coating market to witness a higher CAGR during the forecast period, 2017-2023.

The European region has observed a significant growth in the Fire Protection Coatings Market due to rigid rules and norms on fire safety set by the regional government and retrieval in the construction industry. It is projected that Germany, the U.K. and Italy are the leading players in this region due to increasing usage of fire protection coatings in oil & gas and petrochemical industries. The growth in the North American market is mainly attributed to the growing demand of steel in buildings and construction, oil & gas, automotive, marine and aviation sectors. It is estimated that passive Fire Protection Coatings segment is projected to lead the market in this region due to increasing demand of organic and inorganic coatings in construction, electrical & electronics industries. Owing to these factors, the U.S.A, Canada and Mexico are projected to be the major contributors in the market during the forecast period. Browse the market data and information spread across 136 pages with 35 data tables and 11 figures of the report “Fire Protection Coating Market Share by type and Application Forecast to 2023” in-depth alongside table of content (TOC) at https://www.marketresearchfuture.com/reports/fire-protection-coatings-market-4657

 



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