DOVER, DE – According to new research by Global Market Insights Inc., the market for intumescent coatings is forecast to be worth $1.16 billion by 2022. Increasing applications in the energy sector coupled with stringent government regulations pertaining to health and safety standardization are likely to drive demand over the forecast period. Features such as fireproofing and heat resistance are anticipated to be among key factors to drive intumescent coatings market growth. The strong landscape for shale gas production is also likely to positively impact the industry.
The cellulosic intumescent coatings market size was over $400 million in 2014, with revenue expectation of over $570 million by 2022. Growth in the construction sector and increasing demand for thin-film coatings in marine and automobile applications are expected to boost growth. Hydrocarbon coatings market size is likely to grow faster than the global average to exceed $580 million by 2022.