Sellbyville, DE -- (SBWIRE) -- 04/26/2019 -- As per a recent industry report put forward by Global Market Insights Inc., Intumescent Coatings Market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 1 billion by 2024 with a projected CAGR of 4% over 2016-2024.

Global market Insights Inc. has announced an addition of a new study-based report on intumescent coatings market to their offering. According to the report the market size is expected to reach 145.6 kilotons by 2022, at a growing CAGR of over 5%. The report covers in-depth analysis of the market on the basis of applications, geography and competitive scenario. It focuses on potential aspects such as drivers, impediments, opportunities, and challenges that influence the market scenario. It begins with an overview of the market including, definition, classification, application, etc. It then analyzes the market on the basis of segmentation at a regional level coupled with price rate, profit, forecast and estimates. It also discusses competitive landscape of the market along with top participants in the market, company profiles, key business strategies and financial metrics.

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The industry is likely to experience significant growth over the projected time frame. This growth is attributed to wide reaching use in automotive and construction applications. Furthermore, escalating demand for fire protection in construction, oil & gas, and steel sectors is anticipated to impel intumescent coatings industry growth. In addition to this, properties including aesthetic appeal and durability make them a preferred option in construction and automotive application. Growing demand of Cellulosic coatings in automotive segment is likely to influence the global market positively owing to its multiple features.

The oil and gas industry is likely to continue its dominance in the end use segment with revenue forecast surpassing USD 588 million in thenext six years. Strict regulations to maximize human safety by implementing fire protection systems in buildings and increasing awareness about safety is anticipated to further demand, projected at more than 57 kilotons during the forecast time frame.

Asia Pacific is the largest regional market in the industry. Increasing industrialization, together with growing construction activities mainly in Vietnam, India and Bangladesh is poised to boost regional consumption. Asia Pacific is likely to continue its dominance, owing to strong infrastructure expenditure.

Furthermore, rising industrialization and growing awareness about fire safety is anticipated to witness a drive in use during the projected period. U.S. intumescent coatings market share is likely to hit USD 143.7 million in next six years with prospective opportunity from the aerospace industry. Furthermore, LATAM and MEA are expected to propose noteworthy potential opportunity for industry participants during the projected time frame.

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The report lists key participants in the industry, including Jotun, Sherwin-Williams, Akzo Nobel, Carboline, and Hempel.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.