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Increased Investments Are Driving The Market.Throughout the forecast period, rising energy demand is anticipated to fuel the oil & gas industry, which will, in turn, drive the demand for intumescent coating. These coatings protect against fires in pools and jets. In addition, they are used to protect structural steel from exposure to moisture and chemicals, which can cause it to become brittle. In the oil and gas industry, intumescent coatings are utilised to provide fire protection for onshore and offshore steel structures at temperatures exceeding 1,100☌. In addition, demand from the construction industry is anticipated to drive market expansion over the forecast period. High product demand in the oil & gas industry, as a result of stringent regulations and an increase in exploration activities across the globe, is expected to drive market growth.

Stringent Regulations And Rising Demand For Oil And Gas Are Driving The Market.

Market Dynamics Drivers for the Global Intumescent Coatings Market Throughout the projected period, rising energy consumption is anticipated to fuel the oil and gas industry, which will, in turn, fuel demand for intumescent coating.

These coatings offer defense against jet and pool fires. They shield structural steel from exposure to chemicals and moisture, which can weaken the metal. In the oil and gas sector, intumescent coatings protect steel buildings on the land and at sea against fire at temperatures of 1,100☌ or higher. Additionally, demand from the construction sector is anticipated to drive market expansion during the anticipated period. It is commonly referred to as intumescent paint and is used as a passive fire retardant in buildings.ĭue to strict restrictions and increased exploration operations worldwide, the oil and gas sector's high product demand is expected to drive market expansion. As an aesthetically pleasing fireproofing product, intumescent coatings are frequently applied to structural membranes for the purpose of protecting buildings and undergoing testing. The global intumescent coatings market size was valued at USD 1.12 billion in 2021 and is projected to reach USD 1.94 billion by 2030 at a CAGR of 5.67% from 2022 to 2030.Īs a result of a chemical reaction, an intumescent coating produces a layer of a protective substance that forms an insulating layer on the surface.