CHICAGO, September 20, 2021 / PRNewswire / – According to New Market Research Report “Fire Retardant Materials Market by Coating Type (Intumescent Coatings – Thin Film & Thick Film, and Cementitious Coatings – Cement & Gypsum Based), End Use (Commercial, Industrial & Residential) and Region – Global Forecast to 2026 “, published by MarketsandMarkets ™, the market for flame retardant materials is expected to reach $ 1.5 billion by 2026, at a CAGR of 9.8% of $ 0.9 billion in 2021.
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Flame retardant materials are coatings that are used on different structures to make them fire resistant and prevent the spread of fire. These materials have various flame retardant properties that are effective in preventing the spread of fire and minimizing the overall impact on structures due to fire hazards. Flame retardant materials are suitable according to fire safety and building codes. They are mainly used in commercial, industrial and residential construction. Flame retardant materials can be classified into two types: intumescent coatings and cementitious coatings. Intumescent coatings had a higher share in terms of value in 2020 compared to cementitious coatings. Intumescent coatings are further sub-segmented into thick film intumescent coatings and thin film intumescent coatings. While cementitious coatings are sub-segmented into cementitious cementitious coatings based on cement and cementitious coatings based on gypsum.
The commercial segment is the largest end-use industry in the flame retardant materials market. North America was the largest market for flame retardant materials in 2020, in terms of value. Factors such as increasing fire safety regulations and increasing fire incidents will drive the fire retardant materials market.
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Intumescent coatings are estimated to be the fastest growing type in the flame retardant materials market for the forecast period
Intumescent coatings are generally divided into thin film and thick film coatings. Thin-film intumescent coatings are either solvent-based or water-based and consist of three components: a primer, a basecoat, and a sealer coat. These coatings are mainly used to ensure fire resistance in buildings. Thick film intumescent coatings are generally epoxy based and generally have a higher dry film thickness than a thin film. Thin film intumescent coatings are preferred for these buildings and for better protection against cellulosic fires. While thick film intumescent coatings are mainly used in industrial end use segment for hydrocarbon fire fighting coatings. These are primarily used for external steel in high rise buildings and structures exposed to marine environments. These properties are expected to drive the coatings intumescent over the forecast period.
North America is estimated to be the largest region of the flame retardant materials market in 2020.
The North American market accounted for the largest share in the world. It is experiencing strong growth due to the increased demand for these materials in new and existing buildings. The main factor influencing the growth of this market is the growth of the construction industry, especially the rise of skyscrapers in emerging economies. The growth of the market in this region is mainly due to stricter building codes and policies.
The major market players presented in the report include 3M (United States), Akzo Nobel NV (Netherlands), Isolatek International (United States), Sika AG (Switzerland), Etex Group (Belgium), PPG Industries, Inc (United States), BASF SE (Germany), Carboline (United States), RPM International Inc. (United States), Jotun Group (Norway), Iris Coatings Srl (Italy), Knauf Insulation (United States), Hempel Group (Denmark), WR Grace & Co. (USA), Rolf Kuhn GmbH (Germany), Rockwool International AS (Denmark), No-Burn Inc. (United States), The Sherwin-Williams Company (United States), Contego International Inc. (United States), Den Braven (Netherlands), Encon Insulation Ltd (UK), Ugam Chemicals (India), Intumescent Systems Ltd (UK), PK Companies (US), FlameOFF Coatings Inc. (US).
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