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Growing focus on obtaining green and smart buildings driving Cellulosic Fire Protection Intumescent Coatings Market

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Growing focus on obtaining green and smart buildings driving Cellulosic Fire Protection Intumescent Coatings Market

April 17
11:52 2021
Growing focus on obtaining green and smart buildings driving Cellulosic Fire Protection Intumescent Coatings Market

Browse 227 market data Tables and 44 Figures spread through 208 Pages and in-depth TOC on “Cellulosic Fire Protection Intumescent Coatings Market”
Cellulosic Fire Protection Intumescent Coatings Market by Type (Solvent-borne, Water-borne), End-Use (Residential, Commercial), and Region (North America, Europe, APAC, South America, MEA)

The global cellulosic fire protection intumescent coatings market size is projected to grow from USD 494 million in 2020 to USD 584 million by 2025, at a CAGR of 3.4% between 2020 and 2025. The growing residential and non-residential building constructions across the globe is projected to drive the market. Increasing awareness and emphasis on safety measures as well as increasing preference for lightweight materials, which require additional protection, are expected to drive the market. The stringent regulations and norms are also supporting market growth, as the newly constructed buildings need to meet the required safety and fire resistance standards. Increasing urbanization and growing building & construction industry are expected to provide growth opportunities in the market during the forecast period.

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In July 2018, new rules for energy performance in buildings came into effect as a part of the Clean Energy for all European package, also called as Clean Energy Package (CEP). Buildings are responsible for approximately 40% of the energy consumption and 36% of CO2 emissions in the EU. These new provisions will make buildings greener and more energy-efficient.

Leadership in Energy and Environmental Design (LEED) and Building Research Establishment Environmental Assessment Method (BREEAM) are the leading green building rating systems in the world that provide point-based certifications. A building must achieve the required number of points to be certified by LEED (the importance of the LEED system is highlighted by the fact that more than 99,000 projects across 165 countries and territories are participating in the LEED system). To comply with the changing regulatory scenario, several paints and coatings manufacturers are developing and offering novel products. Jotun, for example, is providing green building solutions by including paints and coating products that have low Volatile Organic Compounds (VOCs) instead of traditional products. These products also include intumescent and cementitious coatings for fire protection, in addition to other products such as architectural decorative paints, powder coatings, protective coatings, and anti-carbonation coatings for concrete and floor coatings.

Paints and coatings are one of the most inexpensive ways of earning green building rating points, as these products account for only 2% of the building costs but can contribute to 27% of the points needed for a building to be LEED v4 certified. To comply with pro-environment criteria and ensure the utmost safety from fires, a thin layer of intumescent coating has emerged as a better alternative to traditional fire protection systems. Also, as these coatings offer fire protection to the lightweight components of buildings, they are gaining traction in the green building sector.

North America is projected to account for largest share of the markets

North America is projected to lead the global cellulosic fire protection intumescent coatings market from 2020 to 2025. The US is the largest market for cellulosic fire protection intumescent coatings in North America. In North America, stringent regulations pertaining to fire safety in building and construction to ensure the safety and protection from fire accidents. Owing to this, significant growth in demand for intumescent coatings was registered from the residential, commercial, and institutional sectors. However, in 2019, the construction spending in the housing and commercial sector supported the growth of the industry, which, in turn, resulted in an increasing demand for intumescent coatings.

The COVID-19 pandemic caused suspensions of trade and several industrial activities. According to the IMF, the US GDP is expected to drop by 4.9% in 2020. Also, construction activities in 2020 are anticipated to decline significantly in 2020. Thereby, the demand for intumescent coatings will also slump in 2020.

AkzoNobel (Netherlands), The Sherwin-Williams Company (US), PPG Industries (US), Jotun (Norway), and Hempel (Denmark) are the key players operating in the market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the global cellulosic fire protection intumescent coatings market.

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