A report from Transparency Market Research, titled “Surface and Fire Protection Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, states that the global surface and fire protection coatings market is set to progress rapidly in the years to come due to factors such as the increasing use of advanced surface and fire protection coatings in various applications.
Surface and fire protection coatings are industrial coatings, which consists of a variety of substrate solutions offering protection against corrosion or fire. Materials including moisture-cure urethane, polyurethane, and epoxy are some of the common polymers used in the manufacture of coatings. Powder coatings, water-based coatings, and solvent based coatings are some of the commonly available protection coatings offered by the leading players in the global surface and fire protection coatings market. These coatings are primarily used in applications such as automotive, marine, construction, steel, and household.
The global surface and fire protection coatings market is primarily driven by factors such as environmental influence and climate changes. The rapid growth of the auto industry across the world is also expected to propel the global surface and fire protection coatings market in the near future. However, the growing environmental concerns from various industrial coatings are predicted to hamper the growth of the market during the forecast period. Advances such as information technology and nanotechnology are expected to create new growth opportunities for enterprises operating in the global surface and fire protection coatings market. The introduction of new fire and surface protection coatings in the market will help avoid loss of property and life.
Regionally, the global surface and fire protection coatings market is segmented into North America, Asia Pacific, Europe, and Rest of the World. At present, Asia Pacific leads the global surface and fire protection coatings market. Factors such as high demand from emerging economies including India and China has helped the Asia Pacific surface and fire protection coatings market to dominate the global surface and fire protection coatings market. Several new construction and renovation projects, especially in China are predicted to boost the demand for fire and surface protection coatings in Asia Pacific in the next few years.
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The North America surface and fire protection coatings market has emerged as the second largest market. The increasing demand for advanced surface and fire protection coatings is predicted to propel the North America surface and fire protection coatings market during the forecast period. The increasing number of deaths in North America due to fire accidents is also another factor expected to drive the surface and fire protection coatings market in this region.
BASF SE, Kansai Paints, Asian Paints, Hempel, Masco, Sherwin Williams, DuPont, RPM International, Diamond –Vogel, Carpoly, and Chugoku Marine Paints are some of the leading players operating in the global surface and fire protection coatings market.
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