The intumescent coating for cellulosic fire protection in European building construction steelwork market size is projected to grow from EURO 154 million in 2020 to EURO 179 million by 2025, at a compound annual growth rate (CAGR) of 3.
New York, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cellulosic Fire Protection in European Building Construction Steelwork Intumescent Coating Market by Region - Global Forecast to 2025" - https://www.reportlinker.com/p05982688/?utm_source=GNW
0% between 2020 and 2025. The market has witnessed growth primarily due to growing residential and non-residential building constructions in the country is projected to drive the market.
Moreover, the increasing number of fire accidents, which result in injuries, loss of life, and property damage, has led to the implementation of various codes, regulations, and standards for fire safety and fire protection. In this regard, Europe has the highest number of safety codes and regulations than other regions.
• In Russia, Federal Law No. 123-03 and GOST R 53295-2009 were imposed in July 2008, wherein technical regulation related to fire safety in building and construction activities was mandated to ensure safety and protection from fire accidents.
• In 2014, the Latvian government imposed the Construction Standard LBN 204-14 regulation pertaining to fire safety standards.
However, the COVID-19 pandemic has severely impacted, Russia, Poland, EU-5, and Nordic countries.As a preventive measure, construction and industrial activities have been suspended.
Several construction projects in Europe have been suspended, which has resulted in a decline in demand for the cellulosic fire protection intumescent coatings. Also, the disruption in the supply chain has been a significant issue faced by the paints and coatings industry, which is expected to lead to a rise in the price of raw materials and other products.
Germany projected to account for the maximum share of the intumescent coating for cellulosic fire protection in European building construction steelwork markets during the forecast period.
Germany is projected to lead the intumescent coating for cellulosic fire protection in European building construction steelwork market from 2020 to 2025.Germany is the largest market for cellulosic fire protection intumescent coatings in Europe.
In Germany, stringent regulations pertaining to fire safety in building and construction to ensure the safety and protection from fire accidents.Owing to this, significant growth in demand for intumescent coatings was registered from the residential, commercial, and industrial sectors.
However, in 2019, the construction spending in the housing and commercial sector supported the growth of the industry, which, in turn, resulted in an increasing demand for intumescent coatings.
The COVID-19 pandemic caused suspensions of trade and several industrial activities.According to the IMF, Germany’s GDP is expected to decline by 7% in 2020.
Also, construction activities in 2020 are anticipated to decline by double digits. Thereby, the demand for intumescent coatings will also slump in 2020.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and other executives from various key organizations operating in the intumescent coating for cellulosic fire protection in building construction steelwork market.
• By Company Type: Tier 1: 40%, Tier 2: 20%, and Tier 3: 40%
• By Designation: C-level Executives: 20%, Directors: 20%, and Others: 60%
• By Region: Sweden, Denmark, & Finland: 40%, EU-5 Countries: 40%, Russia: 15%, and Baltic Countries: 5%
The intumescent coating for cellulosic fire protection in European building construction steelwork market comprises major manufacturers such as AkzoNobel (Netherlands), The Sherwin-Williams Company (US), PPG Industries (US), Sika (Norway), RPM International Inc. (Japan), Jotun (Norway), and Hempel (Denmark).
The market study covers the intumescent coating for cellulosic fire protection in European building construction steelwork market across various countries.It aims at estimating the market size and the growth potential of this market across Europe.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in intumescent coating for cellulosic fire protection in European building construction steelwork market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall market. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities
Read the full report: https://www.reportlinker.com/p05982688/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001