The cellulosic fire protection intumescent coatings market size is projected to grow from USD 559 million in 2021 to USD 671 million by 2026, at a CAGR of 3.7% during the forecast period. The growth of this market is attributed to growing residential and non-residential building constructions in the country is projected to drive the market.
The cellulosic fire protection intumescent coatings market is dominated by large players, such as AkzoNobel (Netherlands), The Sherwin-Williams Company (US), PPG Industries (US), Jotun (Norway), and Hempel (Denmark). These players have adopted various growth strategies, such as expansions, new product developments, and acquisitions, to enhance their market footprint and improve their product portfolios.
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To mitigate the impact of the COVID-19 pandemic, AkzoNobel has started aggressive marketing and sales of its products across globe. Also, the company is developing new products to comply with the changing regulations and standards in the buildings & construction industry. For the intumescent coatings market, the company has a strong foothold in North America and Europe, whereas the company is incessantly focusing on the expansion of its product portfolio. In March 2019, it launched a new fire protection system for the wood building facades in the Europe market to target the residential segment.
The Sherwin-Williams has a strong foothold, and sales activities in North America and Europe markets help to gain a competitive edge over other key players involved in the market. For the past 2-3 years, the company has emphasized strengthening the supply chain and reducing the lead time to customers. Opening new retail stores, online platforms for sale, and strengthening of the distribution channels are few strategies implemented by the company for the same. For instance, the company got a contract for the application of intumescent coatings on the steelwork of a new stadium, having 62,000 seating capacity, at Tottenham, UK, in July 2019. However, due to the COVID-19 pandemic, there has been a significant decline in construction activities across globe, which, in turn, impacted the product demand.
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Most of the developed countries, especially the US, Russia, Italy, Spain, the UK, France, and Germany, are severely impacted by the COVID-19 pandemic. Due to the COVID-19 pandemic, the production facilities of Jotun in Europe were affected by the restrictions that were imposed, which have resulted in lower deliveries from these facilities.
Other companies have initiated the following developments:
- In September 2020, Etex Group acquired the UK-based passive fire protection company named FSi Limited, having a production facility in Measham, East Midlands, and a distribution center in London.
- In November 2019, Hempel launched new fire-protection coating, “Hempafire Optima 500,” designed for infrastructure projects such as stadiums, airports, and commercial centers and provide protection from cellulosic fire for 180 minutes.
- In February 2019, PPG Industries launched an advanced passive fire protection coating, “PPG PITT-CHAR NX coating system” in the North and South American markets.
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