Elastomeric Coatings Market Size, Share & Industry Analysis, By Type ( Acrylic, Polyurethane, Silicone, Butyl, Others ), By Application ( Wall Coating, Surface Coating, Roof Coating, Others ) and regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The global elastomeric coatings market size is expected to grow at a prolific speed owing to the increasing investments by the government in the construction industry. Elastomeric coatings are type of coatings with elastic properties. These coatings are highly flexible which allows them to return to their original shape and size when stretched without causing any damage. These coatings are durable, generally thicker than the paints, provides a better protective coating and tough exterior finish to the surfaces. These coatings are being adopted in various end-use industries like marine, automobile, construction, and industrial sector due to the unwavering aesthetic properties and longer life span.
Rapid industrialization and increasing governmental and private investments in the construction business is expected to drive the market. Construction segment holds the largest share in consumption of the elastomeric coatings. Additionally, increasing demand from automotive, marine, and industrial sector to protect the walls, roofs and surfaces from different weather conditions like cold, acid rains, dust, and pollution shall foster the market growth.
However, the prices of the raw materials used for manufacturing coatings are highly volatile particularly prices of the resins. This results in fluctuations in the price of the end-product which is expected to limit the market growth.
Market Segmentation:
Based on the type, the elastomeric coatings market is segmented into acrylic, polyurethane, silicone, butyl, and others. Based on application, the market is segmented into wall coatings, surface coatings, roof coatings, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Market Driver -
Increasing demand from end-use industries.
Key Market Restraint -
Volatility in prices of raw materials.
Key Players Covered:
The global elastomeric coatings market consists of global & regional players operating. Some of the key players in the market include BASF SE, Henry, Nippon Paints, PPG Industries, Sherwin-Williams Company, Jotun A/S, Clariant, Dulux Group, and others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Elastomeric Coatings Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Elastomeric Coatings Industry
Regional Analysis:
The elastomeric coatings market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for the largest share in market attributed to the rapid industrialization and high demand from construction industry. The increasing population in Asian countries like India and China is boosting the constructional activities. North America is expected to show steady growth due to the stringent rules imposed by government regarding the VOC emissions from paints and coatings. Europe is expected to show considerable growth attributed to the rising demand from automotive sector. Latin America and Middle East and Africa are expected to show sluggish growth by the end of the forecast period.
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Elastomeric Coatings Market Segmentation
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Elastomeric Coatings Industry Developments
- In March 2020, AkzoNobel completed the acquisition with Mauvilac Industries to set up a widespread distribution network in Mauritius.
- In January 2016, BASF launched two new products AQAcell and Acronal, clean and durable elastomeric coatings to keep the exteriors clean, neat and resistant to dirt.
- Ongoing
- 2023
- 2019-2022
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