International.
The market size of intumescent coatings is projected to be worth US$1.16 billion by 2022, according to a research report by Global Market Insights.
Increasing applications in the energy sector, coupled with strict government regulations regarding health and safety standardization are likely to drive demand over the projected period. Features such as fire protection and heat resistance are anticipated to be the key factors to drive the growth of the intumescent coatings market. The strong landscape in shale gas production is also likely to generate a positive impact on the industry.
Market size was over $400 million in 2014, with revenue expectations of more than $570 million in 2022. Growth in the construction sector and increased demand for thin-film coatings in marine and automotive applications are expected to drive growth. The market size of hydrocarbon coatings is likely to grow faster than the global average to exceed US$580 million by 2022.
The oil and gas industry was the dominant end-use segment and accounted for more than 50% of the share of global revenue in 2014, and is projected to earn up to 4.8% from 2015 to 2022. Strict government regulations for safety and health and increased exploration are expected to drive demand. Demand from the construction industry is estimated at more than 35 kilotons in 2014, and is expected to grow at a CAGR of 5.2% from 2015 to 2022 due to the growing construction industry in China and India.
