At 4.22% CAGR, Global Surface and Fire Protection Coatings Market to Surpass US$ 2,274.69 Mn By 2030, Forecast Report By Zion Market Research

Surface and Fire Protection Coatings Market

According to the report published by Zion Market Research, the global Surface and Fire Protection Coatings Market size was valued at USD 1634.58 Million in 2022 and is predicted to reach USD 2,274.69 Million by the end of 2030. The market is expected to grow with a CAGR of 4.22% during the forecast period. The report analyzes the global Surface and Fire Protection Coatings Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Surface and Fire Protection Coatings Market industry.

Surface and Fire Protection Coatings Market: Overview

Surface and fire protection coatings are nothing but industrial coatings which include many substrate solutions. They provide protection from fire, wear and tear, and corrosion. Polyurethane, moisture-cure-urethane, and epoxy are the polymers that are used in the manufacturing of these coatings. Several coating solutions are provided by surface and fire protection coatings such as solvent-based coatings, water-based coatings, and powder coatings. The growth of the global surface and fire protection coatings market is bound to grow as their consumption is more as compared to other conventional paints.

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Surface and Fire Protection Coatings Market: Segmentation

The surface and fire protection coatings market can be segmented on the basis of its application, type, and region. On the basis of application, the global market is categorized into marine, oil, and gas, construction, automotive, residential, and steel. Based on the type, the global market is classified into liquid coatings and powder coatings. Geographically, the market is diversified into Asia-Pacific, Europe, North America, and Rest of the World.

Surface and Fire Protection Coatings Market: Growth Factors

There is a great opportunity for the surface and fire protection coatings market to grow owing to the effectiveness that these coatings provide and they can be used on a wide range of surfaces. Various industries are keen in using these coatings due to the increased amount of fire-related accidents. For example, AkzoNobel offers intumescent fire protection coatings, which are tested to the highest standards to adhere to fire safety objectives for both property protection and life safety. Thus, the market growth has a huge scope as the industries are opting to use the surface and fire protection coatings to avoid the accidental damages. There has been a tremendous increase in the constructional projects in the market. The infrastructure industry is compelled to use surface and fire protection coatings in its construction works as there is the rise in awareness regarding the workplace security and safety.

In addition, there are strict government protocols concerning fire safety. The surface and fire protection market is also boosted by other sectors such as residential and commercial. The demand for surface and fire protection coatings is boosting as they provide protection to both structures and equipment from fire. In addition, the changing climatic conditions and the resulting environmental impact are also aiding to the growth of the market. However, these coatings have negative effects on the environment which may act as a market restraint.

Surface and Fire Protection Coatings Market: Regional Analysis

Asia Pacific is dominating the surface and fire protection coatings market owing to the various constructional projects and infrastructural activities. Countries such as India and China are the major regions leading the market growth. North America is the second largest market for surface and fire protection coatings mainly due to the increased death rates as a result of fire accidents in this region. Hence, the market of surface and fire protection coating is anticipated to grow.

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Surface and Fire Protection Coatings Market: Competitive Players

The key players in the surface and fire protection coatings market include;