The Global Elastomeric Coatings Market was valued at USD 4.85 billion in 2015 and is expected to reach USD 11.36 billion by 2021, growing at a CAGR of 13.89%, during the forecast period 2016-2021.
Elastomeric coatings are mainly used in building & construction for waterproofing, cladding, roofing, and flooring purposes. It is an above-grade exterior wall or roof coating that is approximately ten times thicker than paint and forms an incredibly thick, yet flexible, coating that helps waterproof the exterior of a structure.
Unlike other types of coatings or paints, it can ridge hairline cracks to complete an airtight, waterproof seal; hence, a suitable material for use on surfaces such as stucco, concrete, masonry and more. Durability and aesthetics of elastomeric coatings for applications such as flooring and roofing have made them a popular choice in the residential construction market, especially in the United States.
The construction and architecture industries have witnessed a tremendous growth, which has resulted in a greater demand for paints and coatings, especially in the thriving economies of Asia-Pacific. With increasing FDIs and improved macroeconomic conditions, China and India are expected to be the growth frontiers for elastomeric coatings manufacturers. The increased need for residential improvement and favorable and lenient environment policies by governments are few of the major factors driving this sector.
With existing market drivers, elastomeric coatings market is well established in the developed countries; however, it is now facing stiff competition from improved composites and other cost efficient substitutes. Elastomeric coatings are expensive and are yet to expand in developing economies, which are primarily dominated by conventional and cheap alternatives. Currently, the demand in the United States is the maximum and is expected to remain so in the future, as well.
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Considering the raw material type, elastomeric coatings are available in various forms including butyl, polyurethane, silicone, acrylic, butyl rubber, etc. This makes the overall cost of production highly dependent and vulnerable to fluctuations in petrochemical prices and demand. At present, elastomer coating prices are neither competitive nor have penetrated deeper into the market. However, these coatings substantially reduce the maintenance costs, which have made them a popular choice in numerous developed countries.
Opportunities and Market Players
The demand for elastomeric coatings is expected to grow in countries such as India and China, owing to the expansion in infrastructure and construction industries. This has made Asia-Pacific an area of immense potential and opportunities in the future.
Some of the major companies dominating the market for elastomeric coatings production are –
- BASF SE
- Dow Corning
- Progressive Painting Inc.
- Clariant Chemicals
- PPG Industries
- Jotun A/S
- The Sherwin-Williams Company
- The Valspar Corporation
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Key Deliverables in the Study
- Market analysis for the global elastomeric coatings market, with region specific assessments and competition analysis on global and regional scales.
- Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the global elastomeric coatings market on both global and regional scales.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
Table of Contents:
- Executive Summary
- Market Insights
- Market Dynamics
- Market Segmentation and Analysis
- Regional Analysis (Market Size, Growth and Forecast)
- Future of the Market
- Competitive Landscape
- Company Profiles (Overview, Products & Services, Financials and Recent Developments)
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