Heat Resistant Coatings Market: Introduction
Most conventional coatings available in the global market do not possess properties to act as fire retardants. As per the National Fire Protection Association (NPFA), in U.S. seven lives are lost every day due to fire; on a global level even more lives are assumed to be endangered because of the lack of reporting and statistical data. Due to changing lifestyle trends, construction methods are now increasingly implementing fire resistant materials and coatings for residential, commercial, infrastructure and industrial development. A heat resistant coating is a protective coating capable of withstanding high temperatures for a certain prolonged period of time. Heat resistant coatings are manufactured with the addition of some special resins which shield and protect the coating from getting tarnished or damaged, as compared to conventional paints and coatings when exposed to fire. Heat resistant coatings are not produced to extinguish fire, but they are formulated to prevent the flames from spreading; hence effectively controlling the fire and curbing further damage to a certain extent. During a fire, when exposed to very high temperatures, these coatings swell up and grow in size. Thus producing a shielding constitute known as “char” which does not conduct heat.
Heat resistant coatings have a massive prospect to grow and moderately replace traditional paints in the market. Heat resistant coatings, when properly coated, bulge up to form a foam like substance in appearance when the temperature is extraordinarily high due to flames. The foam hence formed protects the underlying surface from harm as it prevents the fire from penetrating the hard foam surface. The foremost driver of the heat resistant coatings market is the safety concern for working population, without compromising on the paint quality. Heat resistant coatings are widely used in commercial and industrial buildings, and structures which usually house more than a few hundred people. Heat resistant coatings are applied on wooden surfaces, walls, pipelines, equipment and other materials and surfaces that qualify as flammable zones as per requirement.
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Heat Resistant Coatings Market Dynamics:
Heat resistant coatings can control flames and curb the fire from spreading for a while. Thus allowing time for rescue teams such as firefighters and police authorities to save lives, as well as extinguish the fire and avoid further damage to property. Due to this exceedingly important and useful attribute, the heat resistant coatings market is estimated to grow in the coming period. Heat resistant coatings are defined by the thickness the coating attains when subjected to high temperatures. Optimum thickness is required, so that the coating is effective in real-time situations. The rising number of accidents globally due to accidental fires in a closed environment is the prime reason for growth in this market. The market for heat resistant coatings is presently inadequate as the concept is niche. However remarkable opportunity exists for this product in the future.
Even though no standard has yet been publically established to determine the effectiveness of the heat resistant coatings offered by various manufacturers and providers, these coatings could be functional to a variety of applications and have boundless possibilities, especially in industrial and commercial setups which are liable to fire accidents. Safety of the employee is becoming an important factor for manufacturers, they are opting for more safety products which in turn will fuel the growth of the heat resistant coatings market in the industrial goods sector. The market for the heat resistant coatings is anticipated to grow at a healthy CAGR in the coming future. Furthermore, the growing applications of heat resistant coatings in commercial and industrial sectors are expected to propel the growth of the overall heat resistant coatings market in the near future.
Heat Resistant Coatings Market segmentation:
Heat Resistant Coatings Market can be segmented on the basis of resin type, technology and end use.
By resin type, the heat resistant coatings market can be segmented into:
- Modified Resins
On the basis of manufacturing Process, heat resistant coatings market can be segmented into:
On the basis of end use, heat resistant coatings market can be segmented into:
- Automotive & transportation
- Building & construction
- Consumer goods
- Industrial and equipment
Heat Resistant Coatings Market Regional Outlook:
The heat resistant coatings market can be divided into seven different geographical regions/divisions — North America, Latin America, Western and Eastern Europe, Asia-Pacific Excluding Japan (APEJ), Japan, Middle East and Africa. North American and European countries have presence of all industrial and commercial sectors alongside with the existence of globally prominent players, which is a boon for the heat resistant coatings market in these regions. Rapid industrialization in the Asia Pacific region, prominently in China and India, is estimated to fuel the growth of the heat resistant coatings market. Industries and manufacturers are striving to reduce the loss of human lives in their operating plants, and with the use of heat resistant coating technology they are efficiently doing it; thus, the market is anticipated to grow in the near future. The use of heat resistant coatings in commercial equipment and flammable fluid pipelines is becoming easier and economical owing to new innovations and advancements being made in this technology. Therefore, it is expected that the heat resistant coatings market will see rapid growth in all – developed and developing countries in the future.
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Heat Resistant Coatings Market: Market Participants
Some market participants in the heat resistant coatings market are:
- Contego Industries, Inc.,
- Satya Firotech India Pvt. Ltd.
- Air Products and Chemicals, Inc.
- PPG INDUSTRIES
- Wacker Chemie AG
- AkzoNobel N.V.
- Sherwin Williams Company
- Jotun A/S
- Kansai Paints Co., Ltd.
- RPM International Inc.
- Tikkurila OYJ
- Teknos Group