The fire resistant paint market has been segmented into powder fire-resistant coatings and liquid fire-resistant coatings where the powder fire-resistant coatings made by aluminum hydroxide (ATH) are considered to dominate the market and are expected to grow at highest CAGR during the forecast period. Increasing awareness among consumers regarding health and safety standards is anticipated to aid the growth of fire resistant paint market. Further, the market is witnessing high preference for modified and advanced fire resistant paints without their quality being compromised. This factor is envisioned to strengthen the growth of fire resistant paint market.
The global market for fire resistant paint market is expected to flourish at a moderate CAGR of 5.4% during the forecast period 2018-2027. Factors such as demand for safety among working population, economy among others are anticipated to drive the global demand for fire resistant paint market. Further the use of fire resistant coatings in industrial sector is estimated to boom the fire resistant paint market by noteworthy revenue by the end of 2027.
In the regional segment, North America represented the largest market for fire resistant paints in year 2017. This can be attributed to large amount of plywood and wood used in numerous building constructions for fire resistant paints. Moreover, the participation of large and small markets for fire resistant paints in developing countries is highly proficient. With increasing awareness and use of fire resistant coatings, North America is anticipated to generate higher CAGR followed by Europe and Asia Pacific during forecast period.
Growing Concern for Security and Sustainability
Growing concern for security based fire preventive coatings is the major concern behind the production of fire resistant paints. Further, to eliminate accidental fire accidents by preventing the flames before any damage to humans and surroundings is expected to benefit the expansion of fire resistant paint market.
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Fire Resistant Paint Market Reflects Significant Opportunities
Enhancement and advances in fire resistant paint with advanced and improved innovations are expected to drive the growth of fire resistant paint market in the long run. In terms of revenue, fire resistant paint market is making the manufacturers collaborate to meet the demands of industries and consumers which is anticipated to exhibit large expansion of sales in the forecast period. This factor is believed to supplement the growth of fire resistant paint market globally.
However, the hike in prices of fire resistant paints might deter the growth of fire resistant paint market in the forecast period.
The report titled “Fire Resistant Paint Market: Global Historical Growth (2013-2017) & Future Outlook (2018-2027) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the fire resistant paint market in terms of market segmentation by product type, application type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the fire resistant paint market which includes company profiling of Pyrotech, Hempel A/S, Sherwin-Williams Company, Akzo Nobel N.V., BASF SE, Nullifire, Contego International Inc., Nippon Paint Co. Ltd., Jotun AS and No-Burn Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the fire resistant paint market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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