Elastomeric Coatings Market to Hit US$ 10 Bn by 2028
The sustainability drift has been transforming every sector all over the world, and the paints & coatings industry is no exception. In an effort to develop products in an ecofriendly way without affecting their performance, the industry is making advances towards cutting-edge technologies such as water-based and ultraviolet-resistant (UV) coatings, to achieve minimal volatile organic compound (VOC) emissions. This current surge will have a tangible effect on the elastomeric coatings market, which is set to surpass US$ 10 Bn by 2028.
Elastomeric Coatings Market - Key Research Findings
- The global elastomeric coatings market size is expected to reach US$ 10 Bn by 2028.
- The market is projected to record a CAGR of 7% during the forecast period (2019-2029).
- Silicon-based elastomeric coatings hold about 1/3rd of the total revenue, while polyurea variants are expected to witness strong demand over the forecast period.
- Demand for elastomeric coatings in building and construction industry will continue to grow on a significant pace, while industrial application will create profitable growth opportunities for market players.
- Increasing scope of application in automotive industry is expected to complement the elastomeric coatings market growth.
- North America and Asia are expected to account for major shares of the global elastomeric coatings market, generating collective revenue of US$ 3 Bn by 2029.
Key Factors Influencing Elastomeric Coatings Market
- Growing Usage in Building and Construction Industry
For the past few years, building and construction industry has been a significant end user of elastomeric coatings. These coatings are employed in bridging cracks on roof tops, exterior concrete walls, and stucco, which prevent water from penetrating into interior constructed walls. Moreover, elastomeric coatings provide resistance to the walls and roofs from dew formation and settling of dirt, and stability under different climate conditions. Silicone, acrylic, and polyurethane polymers are the common elastomeric coatings. These polymers stop water droplets from entering the interior concrete layer and have high surface tension that causes beading of rainwater.
- New Window of Application in Manufacturing Biodegradable Cardiovascular Stents
Cardiovascular stents continue to evolve - enhancing the efficacy and reducing the risk associated with these devices. Cardiovascular stents coated with elastomeric coatings prevent cracking and peeling of coat which can lead to inflammatory reactions as imperfect stents can lead to uneven drug level release by vessel wall. In recent years, biodegradable stents have been gaining huge traction across the globe. It is highly corrosion resistant and reduces thrombotic deposition in vitro cardiovascular stents. The result is likely to lead to increased demand for elastomeric coatings.
- High Growth Prospects in North America and APAC
North America and APAC will continue to generate higher revenue share in the elastomeric coatings market over the forecast period. These regions are the major volumetric contributor to the elastomeric coatings market, due to their large consumer base along with rising building & construction activities. Moreover, China is currently executing a large number of airport construction projects and the government has also rolled out massive construction plans for next 10 years. This, in turn, will boost the demand for elastomeric coatings.
Elastomeric Coatings Market Structure Analysis
- The elastomeric coatings market is consolidated with the presence of a fewer number of players across the globe.
- Some of the major companies will continue to hold their strong foothold in the global elastomeric coatings market.
- These market players are focusing on entering the related industries, which will enable elastomeric coatings manufacturers to overcome the effects of volatile economy, increase revenue, and enhance their business portfolio.
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Report Metrics |
Details |
|
Base Year |
2019 |
|
Forecast Period |
2019-2029 |
|
Market value in 2018 |
US$ 5.2 Bn |
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CAGR over 2019-2029 |
More than 7% |
|
Segments Covered |
Type and Application |
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Regions Covered |
North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA |
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Growth Drivers |
|
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Key Companies Covered |
PPG Industries Inc., Teknos Group, Covestro AG, and DowDuPont Inc. |
Manufacturers Prefer Silicone and Polyurea for Developing Elastomeric Coatings
About one-third of the elastomeric coatings market value would be realized by silicone-based variants. However, silicone-based elastomeric coatings are likely to lose their grip on market revenue in due course of time, as they are not preferred for roof-based waterproofing applications. Manufacturers, thus, are turning to other materials, including polyurea, which will witness a top-line growth in the near future. Their benefit of excellent atmospheric moisture sensitivity and other mechanical properties is making polyurea coatings sought-after by market players.
North America and Asia - Linchpin of Growth Opportunities
The elastomeric coatings market in North America and Asia will reach US$ 3 Bn towards the end of the projection timeframe, respectively. As these regions house the fastest-growing markets for infrastructure expenditure - China, India, and the US - manufacturers are focusing on conspicuous investments in innovation in these countries. Moreover, China is banking on lean and industry 4.0 techniques for production boost to address labor-cost inflation. This would further garner huge attention from market players.
Greater Focus on Product Customization
Manufacturers must lay extra focus on customizing products and formulations to align with specific customer requirements. Variations in the concentrations of isocyanate, polyether, polyester amine, chain extenders, and other additives have a noteworthy impact on the final properties of elastomeric coatings. For instance, Acrymax Technologies Inc. has developed customized elastomeric coatings that offer color matching, which is one of the prominently demanded customer services. Additionally, the company has manufactured a low-viscosity waterproof coatings formulation for specific client requirements.
Silicone -based elastomeric coatings hold leading market share
Polyurea -based elastomeric coatings to show noteworthy CAGR
High adoption in building & construction
Application in industrial sector on the rise
How Growth will Unfold
Ailing infrastructure assets and demographic growth are influencing governments to scale up their expenditure in several construction projects. Influenced by these shifts, manufacturers continue to reap substantial value creation from the building & construction sector, which captures about 3/5 of overall revenue. Moreover, benefits of elastomers such as high anti-corrosive and anti-scratch aspects are making them a favorite in the automotive & transportation industry, where they are used in rail car linings and railway track containers.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Elastomeric Coatings Market Analysis 2019-2029
A recent market study published by FMI on the elastomeric coatings market includes global industry analysis 2014-2018 & opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historic as well as current growth parameters of the elastomeric coatings market, the growth prospects of the market are obtained with maximum precision.
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
- Roofs
- Walls
- Floors
- Bridges
- Others
- Industrial
- Automotive & Transportation
- Others
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
What's Included
The report initiates with the executive summary of the elastomeric coatings market, which includes a summary of key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the elastomeric coatings market.
Readers can find the definition and a detailed taxonomy of the elastomeric coatings market in this chapter, which will help them understand the basic information about the elastomeric coatings market. Along with this, comprehensive information pertaining to elastomeric coatings and their properties are provided in this section. This section also highlights the inclusions and exclusions, which helps the reader understand the scope of the elastomeric coatings market report.
The elastomeric coatings market report provides the key market trends that are expected to significantly impact the market growth during the forecast period. Detailed industry trends are provided in this section.
This section includes the factors that have emerged as key successful factors and the strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the elastomeric coatings market between the forecast periods of 2019-2029. This chapter includes a detailed analysis of the historical elastomeric coatings market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029). Along with this, pricing analysis of the elastomeric coatings market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the elastomeric coatings market between the forecast periods of 2019-2029.
This chapter explains the key macro-economic factors that are expected to influence the growth of the elastomeric coatings market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, Porter’s five forces analysis, and value chain analysis for the elastomeric coatings market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Based on the type, the elastomeric coatings market is segmented into acrylic, polyurethanes, epoxy, silicones, polyuria, and other type of coatings. In this chapter, readers can find information about the key trends and developments in the elastomeric coatings market and market attractiveness analysis based on the type.
This chapter provides details about the elastomeric coatings market based on the application, and has been classified into building & construction, industrial, automotive & transportation, and others. In this chapter, readers can understand the market attractive analysis based on the application.
This chapter explains how the elastomeric coatings market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America elastomeric coatings market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on the application and countries in North America.
This chapter provides the growth scenario of the elastomeric coatings market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Important growth prospects of the elastomeric coatings market based on its end users in several countries such as Germany, the U.K., France, Spain, Italy, Russia, BENELUX, and the Rest of Europe are included in this chapter.
In this chapter, India and ASEAN countries are the prominent countries in the South Asia region that are the prime subjects of assessment to obtain the growth prospects of the South Asia elastomeric coatings market. Readers can find detailed information about the growth parameters of the South Asia elastomeric coatings market during the forecast period of 2019-2029.
This chapter highlights the growth of the elastomeric coatings market in East Asia by focusing on China, Japan, and South Korea. This section also help readers understand the key factors that are responsible for the growth of the elastomeric coatings market in East Asia.
This chapter highlights the growth of the elastomeric coatings market in Oceania by focusing on Australia and New Zealand. This section also help readers understand the key factors that are responsible for the growth of the elastomeric coatings market in Oceania.
This chapter provides information about how the elastomeric coatings market will grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, and the Rest of MEA, during the forecast period of 2019-2029.
This section highlights the growth prospects of the elastomeric coatings market for emerging markets such as China, India, and Brazil.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the elastomeric coatings market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the elastomeric coatings market, along with a detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are BASF SE, DowDuPont Inc., Sherwin Williams Chemical Company, PPG Industry Inc., and Teknos Group Oye, among others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the elastomeric coatings market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the elastomeric coatings market.
How the research was conducted?
Primary Research
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Distributors
- Traders
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
Secondary Research
- Industry Publications
- World of Chemicals
- Chemical Weekly
- Chemical Engineering World, etc.
- Industry Associations
- The European Chemical Industry Council
- The American Chemical Society
- China Chemical Society
- Indian Chemical Council
- Factiva
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits
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