In 2022, Future Market Insights (FMI) anticipates a robust year-over-year growth of 7.3% in the elastomeric coatings market, projecting a total value of approximately US$ 6,810.5 Million by the year’s end. Furthermore, the global market is expected to experience a sustained growth rate of 7.6% throughout the forecast period spanning from 2022 to 2029. FMI forecasts a significant expansion in global elastomeric coatings sales, reaching an estimated value of US$ 11,360.5 Million by the conclusion of 2029. This optimistic outlook reflects the increasing demand and market potential for elastomeric coatings in various industries over the next decade.
Rising demand for eco-friendly and advanced coatings coupled with growing building and construction activities makes elastomeric coatings a popular and innovative choice in the market. Through constant research & development, elastomeric coatings are finding applications in different areas. Further, superior property of the product – water resistance – efficiently protects the intrusion of moisture into the walls, in the construction industry. The growing construction industry is expected to catalyze the growth of the elastomeric coatings market.
Transform Your Strategy: Request a Sample Report to Elevate Your Business! https://www.futuremarketinsights.com/reports/sample/rep-gb-11071
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
- 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.
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.
Ask for Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-11071
Elastomeric Coatings Market Taxonomy
The global elastomeric coatings market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
By Type
- Acrylic
- Polyurethane
- Epoxy
- Silicone
- Polyurea
- Others
By Application
- Building & Construction
- Industrial
- Automotive & Transportation
- Others
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
