Demand Soars for Fire-resistant Coatings as Industries Prioritize Fire Protectio

1. Fire-resistant Coatings Market worth $1,125 million by 2026 Exclusive Report by MarketsandMarkets™ The report "Fire-resistant Coatings Market by Type (Intumescent Coatings, Cementitious Coatings), Technology (Solvent-borne, Water-borne), Substrates (Metal, Wood), Application Technique (Spray, Brush & Roller), Application and Region - Global Forecast to 2026" The global fire-resistant coatings market size is projected to grow from USD 975 million in 2020 and is projected to reach USD 1,125 million by 2026, at a CAGR of 3.5%. Europe accounted for the largest share of the market. It is projected to reach USD 490 million by 2026, at a CAGR of 3.0%, between 2021 and 2026. The growing building & construction sector in the region is projected to drive the market. The intumescent coatings segment is estimated for a larger market share in 2020. Intumescent coatings are either solvent-borne or waterborne and are mainly used in buildings and construction. The use of cementitious coatings increases the overall weight of the structures. Intumescent coatings are advantageous over their substitutes, as they are thinner, exhibit better fire protection properties, and significantly reduce the overall weight of the structures and substrates. Get an Exclusive PDF Sample Copy of This Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=95861153 The building & construction industry is estimated to have the largest share in the fire-resistant coatings market. The building & construction industry is estimated to account for the largest share of the fire-resistant coatings market in 2020, closely followed by the industrial segment in terms of value. Increasing construction activities, along with a rise in the number of manufacturing facilities in the emerging economies in APAC and MEA, are expected to drive the market demand during the forecast period.

2. The water-borne coatings technology segment is estimated to have a majority share in fire-resistant coatings market. Based on technology, the water-borne coatings technology segment is estimated to hold the majority share of the overall fire-resistant coatings market. The major factor driving this segment is the increasing demand for green products. Water-borne coatings are easier to clean up, reduce the risk of fire, and result in less exposure to VOCs. Request Customized Report as Per Your Requirements at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=95861153 By application techniques, the spray segment is estimated to have a majority share in fire-resistant coatings market. Based on application techniques, the spray segment dominated the fire-resistant coatings market. This technique is faster, has better efficiency, requires fewer coats, provides a smoother finish, and can be used to coat complex geometries. These factors make it the preferred application technique for fire-resistant coatings. Europe projected to account for the largest share of the fire-resistant coatings market during the forecast period.

3. Europe accounted for the largest share of the global fire-resistant coatings market in 2019. The growth of the fire-resistant coatings market in this region is mainly attributed to stringent government regulations, an industrial initiative for sustainable development, and a strong emphasis on protection against fire. Moreover, the practice of constructing green buildings and adopting green coatings offers many opportunities for the growth of the market in the region. The European market is mainly dominated by the EU-5 countries, especially Germany and the UK. If You Want To Know More About Report Before Buying at https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=95861153 The leading players in the fire-resistant coatings market include AkzoNobel (Netherlands), PPG (US), Jotun (Norway), Sherwin-Williams (US), and Hempel (Denmark). The key industry players are adopting strategies to expand their presence and enhance their product portfolio through investments in R&D. For example, in 2017, Hempel invested in an R&D center solely for fire-resistant coatings in Spain. This expansion will help the company comply with the ever-changing demand from the construction industry and develop high efficacy products. About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com