The Elastomeric Coatings Market is projected to reach a substantial value of US$ 56.6 billion by 2032, exhibiting a strong Compound Annual Growth Rate (CAGR) of 16.9%. Specifically, the segment of acrylic elastomeric coatings is expected to experience robust growth at a CAGR of 19.8% between 2022 and 2032.
Elastomeric coatings have shown to be vital in the field of protective coatings and waterproofing solutions. These coatings are widely used in construction, automotive, and industrial applications due to their remarkable flexibility and durability. We explore into the Elastomeric Coatings Market in this article, providing insights into its dynamics, demand and supply trends, present issues, and the extensive value chain that drives this crucial industry.
Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=8064
Elastomeric Coatings Market Dynamics
Rising Construction Activities: The Elastomeric Coatings Market is significantly influenced by the construction sector. The growing demand for energy-efficient, sustainable, and long-lasting building materials has propelled the use of elastomeric coatings in construction, especially for exterior surfaces.
Waterproofing and Protective Qualities: Elastomeric coatings are known for their waterproofing capabilities and exceptional protection against harsh weather conditions, UV radiation, and abrasion. This makes them an ideal choice for applications that require durability and resilience.
Expanding Automotive Sector: The automotive industry increasingly incorporates elastomeric coatings in vehicle manufacturing for corrosion resistance and to enhance the longevity of automotive components.
Industrial Maintenance: Elastomeric coatings play a vital role in industrial maintenance, extending the lifespan of machinery and equipment by providing a protective barrier against wear and tear.
Key Companies Profiled In This Report
- BASF SE
- Sherwin Williams Company
- PPG Industries
- Teknos Group
- Huntsman Corporation
- The DOW Chemical Company
- Axalta Coating Systems LLC
- The Valspar Corporation
- Kansai Nerolac Paints Limited
- Progressive Paintings LLC
- Nippon Paints
- Rodda Paints
The United States is set to lead the market with a valuation of $21.1 billion by 2032, projecting significant absolute dollar growth of $16.9 billion. The country’s robust infrastructure, backed by highways, rail systems, electrical grids, ports, and connectivity, is boosted by the Infrastructure for Rebuilding America Program, granting $905.25 million to projects across 18 states. Elastomeric coatings’ demand is rising, primarily driven by the thriving construction industry. With the U.S. being a major vehicle market, supporting electric vehicles with tax incentives, the automotive coatings market is also expected to benefit from increased automobile production, consequently boosting the elastomeric coatings market.
Elastomeric coatings distinguish themselves from other industrial coatings through a combination of advantageous traits, making them a superior choice in the market. Notably, they offer substantial water resistance with ten times the thickness of alternative coatings, all at an environmentally-friendly cost. Elastomeric coatings excel in applications such as wall support, waterproofing, and environmentally-beneficial coatings. These attributes are expected to boost elastomeric coatings above competitors, driving global market growth. They effectively seal cracks in various construction elements, providing stability against harsh environmental conditions. Made from acrylic, silicone, and polyurethane polymers, they resist corrosion and extend the lifespan of metal structures. Moreover, elastomeric coatings serve as long-term solutions by preventing structural deterioration, offering versatility in color options and adhering to eco-friendly regulations set forth by governing bodies like the European Commission. These regulations incentivize the development of bio-based elastomeric coating ingredients, further propelling market growth.
Elastomeric Coatings Market Value Chain
The Elastomeric Coatings Market comprises a complex value chain involving various stakeholders:
- Raw Material Suppliers: Providers of key raw materials, including polymers, fillers, and additives, are essential to the production of elastomeric coatings.
- Manufacturers: These companies formulate elastomeric coatings by blending raw materials to create high-performance products. They play a pivotal role in product development and innovation.
- Distributors: Distributors ensure the efficient supply and distribution of elastomeric coatings to end-users, including construction firms, automotive manufacturers, and industrial facilities.
- Contractors and Applicators: Skilled contractors and applicators are responsible for applying elastomeric coatings accurately, ensuring the coatings’ effectiveness and durability.
Competitive Landscape in the Elastomeric Coatings Market
Key Elastomeric Coating providers have recently made notable moves in the industry:
- In February 2021, PPG expanded its portfolio by acquiring Versa Flex from DalFort Capital Partners. Versa Flex specializes in polyurethane, epoxy, and polyurethane coatings, primarily for industrial flooring, transportation infrastructure, and water and wastewater infrastructure applications.
- In May 2021, PPG further strengthened its position by completing the acquisition of Worwag, a significant manufacturer of coatings used in both industrial and automotive sectors. Worwag specializes in environmentally-friendly powder, liquid, and film coatings.
- Back in January 2019, the coatings division of BASF initiated the purchase of the vehicle paint detackification business of Polymer Ventures, Inc. Alongside this acquisition, BASF also acquired all of the stock of Galaxy Chemical Corporation.
Elastomeric Coatings Industry Segmentation
- By Product Type:
- Acrylic
- Polyurethane
- Silicon
- Butyl
- Other Types
- By Application:
- Wall Coatings
- Floor/Horizontal Surface Coating
- Roof Coating
- Other Applications
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Get Customization on this Report for Specific Research Solutions –https://www.factmr.com/connectus/sample?flag=RC&rep_id=8064
The Elastomeric Coatings Market is shaped by a variety of factors, including the demand for durable and sustainable building materials, the growth of the automotive sector, and the need for industrial maintenance solutions. While challenges like compliance with environmental regulations and market competition persist, ongoing innovation and customization efforts drive the industry forward. The value chain, comprising raw material suppliers, manufacturers, distributors, contractors, and regulatory authorities, ensures the efficient production and application of elastomeric coatings across diverse industries.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: [email protected]