Intumescent Coatings Market: Increasing Need for Building Fire Safety Measures to Boost Growth, says TMR
According to a new report by Transparency Market Research (TMR), the global market for intumescent coatings demonstrates a moderately concentrated competitive landscape. Akzo Nobel N.V., PPG Industries Inc., and Sherwin-Williams Co. are the top three players in this market and collectively, they acquired nearly 45% of the overall market in 2015. These leading market players are continuously making efforts to maximize their share through the establishment of new manufacturing facilities. Intumescent coatings manufacturers are expected to involve actively in joint ventures and strategic business partnerships in the near future, which is likely to increase the competition in this market, states the research report. As per the study, the opportunity in this market, which was US$372.9 mn in 2015, is expected to rise at a healthy 7.0% CAGR over the period from 2016 to 2024 and reach US$675.5% mn by the end of the forecast period. Currently, the demand f...