Market Analysis:
Numerous factors are adding to the Elastomeric Coatings Market Share. Such factors, as revealed by the latest MRFR report, include rising demand from residential and commercial sectors, surging demand for energy-efficient roof systems, increasing use in the automotive sector, and growing demand for such products in various applications such as roof coating and wall coating in residential and commercial sectors. Additional factors adding to the Elastomeric Coating Market Growth include increasing investment in the construction sector, rapid industrialization, increasing automotive production, economic growth worldwide, and rising per capita disposable income.
The Elastomeric Coating Market is likely to touch USD 14.6 billion at a 7.8% CAGR between 2017-2025, reveals the new Market Research Future (MRFR) report. Elastomeric Coatings are utilized to offer finish to plastic substrates, metal, and concrete. Such coatings are widely used on roof tops and masonry wall surfaces such as stucco, blocks, concrete tiles, and other exterior insulation finishes. They possess greater film thickness compared to conventional paints and coatings. Surface adhesion, flexibility, toughness, and elasticity are the alluring features of Elastomeric Coatings owing to which it has wide applications such as floor, roof, and wall, among others.
On the contrary, high initial cost and volatile raw material cost are factors that may limit the Elastomeric Coating Market Growth over the forecast period.
Key Players:
Notable Players Profiled in the Elastomeric Coating Market Report include Rodda Paint Co. (U.S.), Clariant (Switzerland.), Jotun (Norway), The Sherwin-Williams Company (U.S.), Progressive Paint Inc. (U.S.), Nippon Paint Holdings Co., Ltd. (Japan.), The Dow Chemical Company (U.S.), PPG Industries, Inc. (U.S.), Henry Company (U.S.), and BASF SE (Germany). Industry players have incorporated several strategies such as mergers and acquisitions, strategic alliances, extensive research and development, product development, and collaborations to create a niche in the market.
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Market Segmentation:
The Market Research Future Report provides an inclusive Segmental Analysis of the Elastomeric Coating Market based on End Use Industry, Application, Source, and Type.
By Type, the Elastomeric Coating Market is segmented into silicone, polyurethane, acrylic, and others. Of these, the acrylic segment will lead the market over the forecast period.
By Source, the Elastomeric Coating Market is segmented into solvent-borne and water-borne. Of these, water-borne coating will dominate the market over the forecast period.
By Application, the Elastomeric Coating Market is segmented into floor, roof, wall, and others. Of these, wall coatings will have a major share in the market over the forecast period.
By End Use Industry, the Elastomeric Coating Market is segmented into aerospace, marine, construction, automotive, and others.
Regional Analysis:
By Region, Global Elastomeric Coating Market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will have the lions share in the market over the forecast period for the robust growth of the automotive and construction industries in India and China and rapid industrialization & urbanization in the region.
The Global Elastomeric Coating Market in North America is predicted to hold the second-largest share during the forecast period for the recovering residential construction sector in the United States.
The Elastomeric Coating Market in Europe is predicted to have significant growth over the forecast period for the growing renovation and repair activities in the residential, commercial, and industrial segments in Italy, Spain, the UK, and Germany.
The Elastomeric Coating Market in Latin America is predicted to have healthy growth over the forecast period for the growing construction and automotive industry in Mexico and Brazil.
The Elastomeric Coating Market in the MEA is predicted to have steady growth over the forecast period.
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