Growing demand for new fireproofing materials Rapid growth in the market for fiber-based intumescent fireproofing materials

Intumescent fireproof coating is a single-component, self-drying coating composed of ethyl fiber, chlorinated paraffin, fire pigments, additives, solvents, and other components. The global cellulose-based intumescent fire protection coatings market size is expected to grow from USD 510 million in 2021 to USD 590 million by 2026, at a CAGR of 3.0%, according to the “Global and Chinese Cellulose-Based Intumescent Fire Protection Coatings Industry In-Depth Research Report 2021”, issued by Synopsys Industry Research Center. The growth in market size is attributed to the residential and non-residential growth, which are expected to drive the evolving demand for cellulose-based intumescent fire protection coating products in the buildings market in developed countries.

Increasing use of steel in construction will drive market growth

In commercial and residential buildings, steel is the major building material used in the construction framework and its use in construction activities is increasing due to its high tensile and compressive strength, low cost and recyclable nature. As the demand for steel in construction and building activities grows, the use of intumescent coatings is also expected to increase.

Stringent government regulations regarding fire safety in economically developed countries is the major driver for the cellulose fire resistant intumescent coatings market. Improving international building standards and codes coupled with increasing preference for green buildings in developed countries is supporting the growth of the market size. Growing demand for eco-friendly, low VOC, and sustainable products in countries such as the U.S., EU5, and Nordic countries is also leading to an increase in the demand for waterborne paints and coatings as compared to solvent-based paints.

Moreover, increasing awareness about fire safety and growing demand for efficient fire protection products in residential and non-residential buildings will drive the market. Increasing investments in the housing, commercial, and institutional sectors will support the growth of the construction industry.

Commercial applications are expected to remain on the rise throughout the forecast period

Global commercial construction is expected to account for the largest share of the cellulose fire retardant intumescent coatings market by 2021, followed by the residential segment.Increase in construction activities and rise in investments in the commercial and residential sectors in Asia Pacific and emerging economies of the MEAs are expected to drive the market demand during the forecast period.

Waterborne coatings segment is estimated to hold the majority share of the market

On the basis of type, the water-based coatings segment is expected to account for the majority of the overall cellulose fire-resistant intumescent coatings market share. The major factor driving the segment is the growing demand for green products. Water-based coatings are easier to clean, reduce the risk of catching fire, and reduce VOC exposure.

North America is expected to hold the largest market share during the forecast period

North America is expected to continue to lead the global cellulose fire resistant intumescent coatings market during 2021-2026, with the U.S. being the largest cellulose fire resistant intumescent coatings market in North America. In North America, there are stringent regulations pertaining to fire safety in buildings and constructions to ensure safety and prevent the occurrence of fire accidents. As a result, the demand for intumescent coatings has grown significantly in the residential, commercial, and institutional sectors. However, in 2019, construction expenditure in the housing and commercial sector supported the growth of the industry, which in turn led to an increase in the demand for intumescent coatings.

AkzoNobel (Netherlands), Xuanwei Williams (U.S.), PPG Industries (U.S.), Jotun (Norway), and Hampel (Denmark) are the key players in the global cellulose-based intumescent fire protection coatings market.