Fire Retardant Coatings Market

Fire Retardant Coatings Market Outlook (2022 to 2032)

The fire retardant coatings market is likely to register a CAGR of 6% during the forecast period, and is anticipated to reach a market share of USD 9.17 Billion in 2032, from USD 4.83 Billion in 2021.

Due to the obvious rising infrastructure of the industrial and commercial sectors, as well as linked electric supplies and operations, such as fireplaces, where the risk of accidents is higher, there is a significant demand for fire retardant coatings.

Attributes	Details
Fire Retardant Coatings Market CAGR	6%
Fire Retardant Coatings Market Size (2021)	USD 4.83 billion
Fire Retardant Coatings Market Size (2032)	USD 9.17 billion

As consumers' need for fire protection is growing, demand for fire retardant coatings is mostly utilized to meet this requirement. Fire retardant coatings, which are easy to apply and help to stop the spread of fire on flammable and non-flammable objects, these features help in attractive sales of fire retardant coatings.

The demand for fire retardant coatings is appealing, as they function by suppressing the creation of gases created during the combustion process. Furthermore, fire retardant coatings had a low maintenance cost, which is one of the advantages factor for sales of fire retardant coatings in obtaining acceptance in a variety of end-use sectors.

Various types of fire retardant coatings have been developed, depending on the base composition and substrate type, to fulfill the demand for fire retardant coatings. Further, by product type, the fire retardant coatings market has two types including non-intumescent and intumescent fire retardant coatings.

The fire retardant coatings find a wide range of applications in industrial, residential, and commercial sectors, expanding the sales of fire retardant coatings in all these sectors. Government agencies from various nations have set rules and regulations to prevent fire accidents around the world, making the adoption of fire retardant coatings a priority.

For example, the National Fire Protection Agency (NFPA) recently updated the rule NFPA 703, which governs the application of fire resistant coatings to building components. This has a positive impact on fire retardant coatings market share.

What are a Few Factors Influencing the Fire Retardant Coatings Market?

Due to the rising infrastructure of the industrial and commercial sectors, as well as connected electric supply and processes, such as fire places, where the risk of an accident is higher, the demand for fire retardant coatings has increased in recent years.

From the previous several years, the equipment utilized in manufacturing facilities such as the automobile, construction, and oil and gas industries has been prone to fire. In addition to statutory HSE (health, safety, and environmental management) standards, the sales of fire retardant coatings is quickly increasing across a wide range of end-use industries, allowing end users to profit from insurance claims in the case of a severe fire.

In addition, the demand for fire retardant coatings is becoming increasingly apparent in electronic and electrical items, whose internal circuitry is exposed to a high rate of heat. As a result, fire retardant coatings market outlook shows the profitable growth during a forecast period.

Fire retardant coatings market expands under the impact of heat to form a multicellular charred layer that works as an insulating barrier. Furthermore, the global fire retardant coatings market share is likely to be hampered by high inflation in raw material prices for fire retardant coatings.

What is the Regional Analysis of the Fire Retardant Coatings Market?

The global fire retardant coatings market can be divided into seven distinct regions. In developed economies, rapid industrialization and modernization will continue to drive the sales of fire retardant coatings expansion.

Due to rising industrial infrastructure and concern for safeguarding property and safeguards throughout the globe, areas such as Asia Pacific, Latin America, and MEA are expected to drive demand for fire retardant coatings during the projected period.

How Competition Impacts the Fire Retardant Coatings Market?

Few global fire retardant coatings market key players are NIPPON PAINT Co. Ltd.S, Noble Paints, Akzo Nobel, PPG Industries, HEMPEL, Carboline, Kansai Paints, Jotun, Promat International, Nullifire, GCC Applied Technologies, and Isolatek International.

These players are employing various strategies, such as mergers & acquisitions, partnerships, collaborations, etc., in order to consolidate their market position and augment the sales of fire retardant coatings.

• PPG Industries, a fire retardant coatings manufacturer, has created PPG PITT-CHAR NX epoxy intumescent coating (a type of fire retardant coating) for its end-use customers, the oil and gas and petrochemical industries, with low weight, low coating thickness, and other features.
• Fire retardant coatings manufacturers have been focusing on research and development in order to create unique solutions to meet the needs of specific and high-end applications, technical marketing, and improving sales of fire retardant coatings.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 6% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2014 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Application, Product Type, Material, End Use Industry, Region
Regions Covered	North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa
Key Companies Profiled	NIPPON PAINT Co. Ltd.; Noble Paints, Akzo Nobel; PPG Industries; HEMPEL, Carboline; Kansai Paints; Jotun.; Promat International; Nullifire; GCC Applied Technologies; Isolatek International.

Key Segments Profiled in the Fire Retardant Coatings Market Survey

By Product Type:

• Non-intumescent Fire Retardant Coatings
• Intumescent Fire Coatings

By Material:

• Boron-based Fire Retardant Coatings
• Phosphorus-based Fire Retardant Coatings

By End Use Industry:

• Automotive
• Oil & Gas
• Construction
• Electrical & Electronics
• Aerospace
• Marine
• Furniture
• Textile
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• Japan
• Middle East and Africa

Frequently Asked Questions

What is the Growth Outlook for the Fire Retardant Coatings Market?

The global fire retardant coatings market is set to advance at a CAGR of 6% from 2022 to 2032.

Which Region is likely to Dominate the Fire Retardant Coatings Market?

Asia Pacific is likely to hold major fire retardant coatings market share during the forecast period.

What is the share of the Fire Retardant Coatings Market by 2032?

Fire retardant coatings market is expected to reach USD 9.17 billion by 2032.