The market for elastomeric coatings is predicted to rise as a result of the expanding construction sector. Elastomeric coatings are a well-liked and cutting-edge option on the market because to rising demand for advanced and eco-friendly coatings and expanding building and construction activities. Elastomeric coatings are becoming more widely used thanks to ongoing research and development.
Additionally, the product’s strong water resistance characteristic effectively prevents moisture from penetrating the walls in the building sector. The market for elastomeric coatings was valued at US$ 6,345.5 million at the end of 2021 and is anticipated to develop profitably between 2022 and 2029 at a CAGR of 7.6%.
Elastomeric roof coatings are a popular choice for protecting and enhancing the durability of roofs. These coatings are made from elastic polymers that provide a flexible and seamless membrane when applied to the roof surface. They offer a range of benefits, making them a preferred option for both residential and commercial buildings.
One key advantage of elastomeric roof coatings is their ability to withstand extreme weather conditions. They can expand and contract with temperature changes, preventing cracks and leaks that can occur over time. Additionally, their reflective properties help to reduce the heat absorption, thus lowering cooling costs during hot summer months.
Identify key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our PDF Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-11071
List Of Key Players Covered in Elastomeric Coatings Market are:
- BASF SE
- Sherwin-Williams Company
- DowDuPont Inc..
- Huntsman Corporation
- Covestro AG
- PPG Industries Inc.
- Versaflex Inc
- Rhino Linings Corporation
- Nukote Coating Systems
- Marvel Industrial Coatings LLC
- Pidilite Industries Ltd.
Key Takeaways of Elastomeric Coatings Market Study
- By type, silicone is expected to be most popular choice of elastomeric coatings, owing to the increasing consumption of silicone-based elastomeric coatings for roof protection against bad weather, standing water, and sun damage.
- In terms of application, the building and construction industry is expected to be a prominent consumer of elastomeric coatings. This is driven by the increasing construction of commercial, domestic, and industrial buildings across geographies. Furthermore, it is expected that, the application of elastomeric coatings on roofs will be prominent throughout the forecast period.
- The elastomeric coatings market is anticipated to grow at a decent rate in developing economies, especially in China, India, ASEAN countries, etc., as favorable market conditions and a large consumer base are fueling the demand for elastomeric coatings.
- Advanced coating technologies have gained tremendous attraction for waterproofing purposes in several industries such as building & construction, automotive & transportation, chemicals, oil & gas, energy & power, etc. Therefore, the shifting trend towards the adoption of advanced coating technologies is expected to drive the growth of the elastomeric coatings market.
“Elastomeric coatings hold more advantages over other coating systems, owing to lower VOC emissions and recyclability, which makes them a preferred choice because of their eco-friendly properties. Attributed to this factor, the demand for elastomeric coatings is anticipated to grow at a significant rate over the forecast period.”
Elastomeric Coatings Market: Competition Analysis
The global elastomeric coatings market is a consolidated market space, due to the presence of less number of market players around the world. Some of the key players identified across the value chain of the global elastomeric coatings market are BASF SE, Rhino Linings Corporation, PPG Industries, Inc., Teknos Group, Huntsman Corporation, Covestro AG, Sherwin-Williams Company, Pidilite Industries Ltd., Versaflex Incorporated, and DowDuPont Inc., among others.
Most of the key players maintain strategic focus on the development of distribution partnerships and joint ventures for global expansion. Manufacturers are focusing on manufacturing sustainable products to cater to the increasing demand for such products for various applications.
How will the market shape up?
Overall growth prospects of economies are expected to remain positive in the coming years. Owing to rapidly growing industrialization and urbanization, end-use industries such as construction are growing at a significant growth rate, which, in turn, is boosting elastomeric coatings market growth.
The building and construction segment is estimated to maintain its prominence over the forecast period, whereas, the usage of elastomeric coatings in industrial applications is projected to gain high traction at a steady peace.
Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report! https://www.futuremarketinsights.com/checkout/11071
What does the report offers?
The latest publication by Future Market Insights provides comprehensive analysis of the global elastomeric coatings market. This market study provides detailed insights on the elastomeric coatings market through well-structured market research.
The global elastomeric coatings market study offers inclusive market analysis of historical performance of 2014-2021 and opportunity assessment for the forecast period of 2022-2029. The market study provides prevalent insights on various aspects of the elastomeric coatings market based on type and application across the targeted seven regions.
Elastomeric Coatings Market By Category
By Types :
- Acrylic
- Polyurethane
- Epoxy
- Silicone
- Polyurea
- Others
By Application :
- Building & Construction
- Roof
- Wall
- Floor
- Bridges
- Others
- Industrial
- Automotive & Transportation
- Others
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
