March 22, 2023

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, finds Fortune Business Insights™ in its report, titled “Elastomeric Coatings Market, 2023-2030”.

Elastomeric coatings can be applied on interior as well as exterior walls as wall paints. This type of coating can be used in coolers, freezers, water storage units, ponds, roofs, and others. There has been an increasing demand for elastomeric coatings from the construction industry due to the rising investments made by the governments of several countries in the construction sector. This is a crucial factor responsible for the growth of this market. The elastomeric coatings are durable and can move with the structure that it is placed on. These coatings can withstand in extreme climatic conditions such as cold, rain, dust, and others which help to provide protection to the walls and roofs. This is another major factor contributing to the growth of this market.

However, the sudden change in the prices of raw materials used for manufacturing coatings is projected to hamper the growth of this market.

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COVID-19 Impact:

The demand for elastomeric coatings has declined during the COVID-19 pandemic due to the increasing lockdown restrictions worldwide, which has forced the industries to remain closed and stop their manufacturing and other activities. Thus, the elastomeric coatings market’s growth has stymied during the ongoing COVID-19 pandemic.

List of Key Players Covered in Elastomeric Coatings Market Report:

  • BASF SE
  • Henry
  • Nippon Paints
  • PPG Industries
  • Sherwin-Williams Company
  • Jotun A/S
  • Clariant
  • Dulux Group

Market Segmentation:

On the basis of type, this market is classified into acrylic, polyurethane, silicone, butyl, and others. Based on application, the market is divided into wall coating, surface coating, roof coating, and others. By geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Highlights/Summary:

The report supplies holistic research, based on primary, secondary, and tertiary sources, on the various factors and trends driving the market. This report also contains a comprehensive understanding of the key market players and their dominant growth strategies. Along with this, the report provides a nuanced segmentation of the market and a thorough analysis of each and every segment. Lastly, the report shares a broad-based study of the regional developments shaping the future outlook of the market.

Report Scope

ATTRIBUTES DETAILS
ESTIMATED YEAR 2023
BASE YEAR 2021
FORECAST YEAR 2030
HISTORICAL YEAR 2020
UNIT Value (USD Million/Billion)
SEGMENTS COVERED Types, Applications, End-Users, and more.
REPORT COVERAGE Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
BY REGION North America, Europe, Asia Pacific, Latin America, Middle East and Africa
CUSTOMIZATION SCOPE Free report customization (equivalent up to 4 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

 

Drivers/Restraints:

Rising Demand for Elastomeric Coatings from the Automotive Industry to Fuel the Market

There are numerous applications of elastomeric coatings such as automotive, aerospace, medical, food products, and others. There is a high demand for elastomeric coatings from the automotive industry as these coatings can be used in the production of tires, windshield wipers, and others due to their high durability and flexibility, which has resulted in the growth of this market. Further, the elastomeric coatings may prove useful in suspension systems, engine mounts, and other automotive products, which has led to the growth of this market across several regions.

Regional Insights:

Surging Demand for Elastomeric Coatings from the Construction Industry to Boost the Asia Pacific Market Growth

Asia Pacific region is projected to dominate in the elastomeric coatings market share on account of the rising industrialization and increasing demand for such coatings from the construction sector.

North America region is anticipated to grow speedily in this market due to the strict rules and regulations imposed by the government regarding the emissions from paints and coatings.

Europe is projected to grow rapidly in this market due to the increasing demand for elastomeric coatings from the automotive industry.

Competitive Landscape:

Strategic Alliances between Key Players to Animate Competition

The prominent companies in the elastomeric coatings market are focusing on developing strategic collaborations with the companies in the construction as well as automotive industries in order to increase their production capacities across different regions. This has resulted in the increasing competition among key companies which will help them to broaden their business horizons and strengthen their market presence.

Industry Development:

March 2020: AkzoNobel completed the acquisition with Mauvilac Industries to set up a widespread distribution network in Mauritius.

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