Intumescent Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Intumescent Coatings Market Size and is segmented by application (cellulosic, hydrocarbon), end-user industry (construction, automotive and other transportation, oil, and gas, and other end-user industries), and geography (Asia-Pacific, North America, Europe, South America, the Middle East, and Africa). For each segment, the market sizing and forecast have been done based on revenue (USD million).

Intumescent Coatings Market Size

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Intumescent Coatings Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 1.90 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Intumescent Coatings Market

*Disclaimer: Major Players sorted in no particular order


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Intumescent Coatings Market Analysis

The Intumescent Coatings Market size is expected to grow from 170.87 kilotons in 2023 to 187.73 kilotons by 2028, at a CAGR of 1.90% during the forecast period (2023-2028).

The COVID-19 pandemic negatively impacted the market. However, the market is reaching pre-pandemic levels and is expected to grow steadily during the forecast period.

  • Increasing construction activities in emerging economies of Asia-Pacific and growth in oil and gas exploration activities are augmenting the growth of the market studied.
  • Rising prices of raw materials are likely to hinder the market's growth.
  • Growing shale gas production is projected to act as an opportunity for the market in the future.

Intumescent Coatings Market Trends

Oil and Gas Industry to Dominate the Market

  • The oil and gas sector is one of the major end-users of the intumescent coatings market. The sector requires fire protection and fireproofing due to the high-temperature environment in its business operations, including horizontal drilling and refining.
  • Apart from fire protection, the product protects metal and steel structures from corrosion and chemicals as they are exposed to moist and damp climatic conditions.
  • Offshore oil and gas production has some of the most demanding conditions. Therefore, coating systems used in production are required to be equipped appropriately.
  • Offshore, prolonged exposure to penetrating UV rays and constant contact with rough seawater increases the need for intumescent coatings.
  • The Asia-Pacific oil and gas industry is growing due to the rising demand for energy and petrochemicals. India, Malaysia, Indonesia, China, South Korea, and Japan are experiencing increased offshore drilling activities.
  • Also, the Government of India has approved four petroleum, chemical, and petrochemical investment regions (PCPIRs) in the states of Andhra Pradesh (Vishakhapatnam), Gujarat (Dahej), Odisha (Paradeep), and Tamil Nadu (Cuddalore and Naghapattinam) to promote investment and industrial development in these sectors.
  • According to the IEA, the United States led the global supply growth and, along with Canada, Brazil, and Guyana, set an annual production record for the second year until 2022. In December, global refinery activity remained stable as US runs fell 910 kb/d owing to weather-related disruptions; stronger runs in Europe and Asia compensated for the dip. Following a 2.1 mb/d increase in 2022, refinery throughputs were expected to climb by 1.5 mb/d in 2023, aided by 2.2 mb/d capacity expansions between 4Q22 and end-2023.
  • Furthermore, projects such as the Bison, Iguana, and Gajah Puteri (BIGP) Project in Indonesia, involving the development of three oil and gas fields in the Iguana, Bison, and Gajah Puteri regions, are expected to increase the demand for intumescent coatings in Asia-Pacific.
  • Thus, based on the abovementioned factors, the oil and gas industry is expected to dominate the market.
Intumescent Coatings Market Revenue Share

India to Dominate the Asia-Pacific Market

  • India's construction sector has been growing rapidly, with increased investments by the government. Commercial real estate growth has been driven largely by service sectors, especially IT.
  • In addition, companies like Reliance Industries Limited and Indian Oil Corporation have planned for expansion in oil refineries over the next five years.
  • According to the International Air Transport Association (IATA), India is one of the fastest-growing domestic markets worldwide, with 190 million passengers traveling in recent years. About 337 million domestic and 84 million international passengers are expected to travel by 2030.
  • Furthermore, according to the OICA, around 5,456,857 vehicles were produced in 2022, which increased by 24% compared to 4,399,112 units manufactured in 2021. The increasing automotive sector is expected to augment the market during the forecast period. Moreover, the government's reforms, such as "Aatma Nirbhar Bharat" and "Make in India" programs, are expected to likely boost the automotive industry, further supporting the demand for PFA in high-end automotive applications.
  • In 2022, India's EV sales crossed a million units and recorded a 206% year-on-year hike over 2021 sales. With a total sales of about 1,054,938, India's EV record sales year across all vehicle segments accounted for about 4.7% of overall automotive sales.
  • The growing automotive industry, coupled with the increasing number of petroleum refineries, is expected to majorly boost the Indian intumescent coatings market over the forecast period.
  • Thus, based on the above factors, India is expected to dominate the Asia-Pacific market.
Intumescent Coatings Market - Regional Trends

Intumescent Coatings Industry Overview

The intumescent coatings market is consolidated, with the top players accounting for major share of the market. Major players (in no particular order) include Jotun, AkzoNobel NV, PPG Industries, The Sherwin-Williams Company, and Hempel AS.

Intumescent Coatings Market Leaders

  1. Jotun

  2. The Sherwin-Williams Company

  3. Hempel AS

  4. AkzoNobel NV

  5. PPG Industries Inc.

*Disclaimer: Major Players sorted in no particular order

Intumescent Coatings Market Concentration
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Intumescent Coatings Market News

Recent developments pertaining to the major players in the market are covered in the complete study.

Intumescent Coatings Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Construction Activities in Emerging Economies of Asia-Pacific

      2. 4.1.2 Growth in the Oil and Gas Exploration Activities

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Rise in Prices of Raw Materials

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Application

      1. 5.1.1 Cellulosic

      2. 5.1.2 Hydrocarbon

    2. 5.2 End-user Industry

      1. 5.2.1 Construction

      2. 5.2.2 Automotive and Other Transportation

      3. 5.2.3 Oil and Gas

      4. 5.2.4 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Russia

        6. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 AkzoNobel NV

      3. 6.4.3 Albi Protective Coating

      4. 6.4.4 BASF SE

      5. 6.4.5 Carboline

      6. 6.4.6 Contego International Inc.

      7. 6.4.7 Hempel AS

      8. 6.4.8 Jotun

      9. 6.4.9 Isolatek International

      10. 6.4.10 No-Burn Inc.

      11. 6.4.11 PPG Industries

      12. 6.4.12 RPM International Inc.

      13. 6.4.13 Tremco Illbruck

      14. 6.4.14 The Sherwin-Williams Company

    5. *List Not Exhaustive

    1. 7.1 Strong Shale Gas Production

    2. 7.2 Other Opportunities

**Subject to Availability
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Intumescent Coatings Industry Segmentation

The intumescent coating layer expands and produces a 'char,' which insulates the material inside from flames by cutting off the oxygen necessary for combustion. Due to these properties, intumescent is used as a coating material to protect substances from heat and fire damage. The intumescent coatings market is segmented by application, end-user industry, and geography. By application, the market is segmented into cellulosic and hydrocarbon. The market is segmented by the end-user industry into construction, automotive and other transportation, oil and gas, and other end-user industries. The report also covers the market size and forecast for the intumescent coatings market in 16 countries across major regions. For each segment, the market sizing and forecast have been done based on volume (tons).

End-user Industry
Automotive and Other Transportation
Oil and Gas
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Intumescent Coatings Market Research FAQs

The Intumescent Coatings Market is projected to register a CAGR of 1.9% during the forecast period (2024-2029)

Jotun, The Sherwin-Williams Company, Hempel AS, AkzoNobel NV and PPG Industries Inc. are the major companies operating in the Intumescent Coatings Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Intumescent Coatings Market.

The report covers the Intumescent Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Intumescent Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Intumescent Coatings Industry Report

Statistics for the 2024 Intumescent Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Intumescent Coatings analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Intumescent Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)