Global Fire Retardant Coatings Market: Market Dynamics
Owing to the growing infrastructure of the industrial and commercial sector and related electric supply and processes including fire place where rate of accident is on the higher probability, the preference of fire retardant coatings has grown in recent times. The equipment used manufacturing facilities such as automotive, construction, and oil & gas industries from past few can be prone to fire break out. Also with mandated HSE (health, safety and environment management) norms, the adoption of fire retardant coatings is rapidly growing among numerous end-use sectors and also helping the end user to benefit from insurance claims on event of severity. Also the need of fire retardant coatings have also finding significantly in electronic and electrical goods whose internal circuitry when exposed high rate of current can cause spark or severe combustion. Furthermore, fire retardant coatings have been an integral part of protective clothing and equipment market for the end user to safeguard against all types of fire breakouts. Another critical application of fire retardant coatings has been in the area of building materials which needs to be compliant at the basic level of fire breakout for the building establishment to be rated as safe for inhabitation.
The above said factors have been instrumental in driving the global fire retardant coatings market positively since the inception of the product. Currently, the manufacturers of fire retardant coatings have been emphasizing on the research and development activities to launch the innovative solutions to fulfill the specific and high end applications and also undergoing technical marketing consisting of product training and education based activities so as to augment their volume sales and thereby increase market penetration across a higher range of end use industries.
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The government agencies of various countries have been developed the rules and regulation to avoid fire accidents worldwide, thus, the adoption of fire retardant coatings is being a priority. For instance, National Fire Protection Agency (NFPA) regularized the rule NFPA 703 – this standard provides fire retardant coatings for building materials
On the flip side, fire retardant coatings swell under the influence of heat to form a multicellular charred layer, which acts as an insulating barrier. Further, extensive inflation in prices of raw materials of fire retardant coatings expected to hamper the global fire retardant coatings market growth. In FY 2018, PPG Industries – manufacturer of fire retardant coatings introduced its new product – PPG PITT-CHAR NX epoxy intumescent coating (a type of fire retardant coatings), having low weight, low coating thickness, etc. for its end-use customer i.e. oil & gas and petrochemical industries. This kind of organic growth across the competition landscape acts as a key trend for global fire retardant coatings market
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 near future, due to increasing industrial infrastructure and concern towards the protecting property and safeguards across the regions
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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. Few key players are identified across the value chain of global fire retardant coatings market which has 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. Global Fire retardant coatings market also contains projections using a suitable set of assumptions and methodologies. The research report on global Fire retardant coatings market provides analysis and information according to market segments such as geographies, application, and industry.
The Global Fire retardant coatings market report covers exhaustive analysis on: Market Segments Market Dynamics Market Size Supply & Demand Current Trends/Issues/Challenges Competition & Companies involved Technology Value Chain
Global Fire retardant coatings: Regional analysis includes: North America (U.S., Canada) Latin America (Mexico, Brazil) Western Europe (Germany, Italy, France, U.K, Spain) Eastern Europe (Poland, Russia) Asia Pacific (China, India, ASEAN, Australia & New Zealand) Japan Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The global Fire retardant coatings market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the battery additives. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Fire retardant coatings market attractiveness as per segments. The global Fire retardant coatings market report also maps the qualitative impact of various market factors on market segments and geographies.
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