Elastomeric Coatings Market 2018 | Analysis Includes Growth, Trends, Technologies & Opportunities Forecast 2023

Elastomeric Coating is a covering applied onto a substrate to serve decorative, functional, or protectoral purposes. The most common substrate type on which this type of coatings are applied are concrete, metal, and plastic. The Elastomeric Coatings offer various physical properties such as excellent, finish, gloss and clarity, greater weather ability, and superior hardness. These type of coatings possess greater film thickness as compared to traditional paints & coatings. Elastomeric Coatings are generally applied as double coats to prevent cracking of both film and the surface underneath it. The major benefit of the Elastomeric Coating is the increased lifespan and durability of the material or an object along with the unaltered aesthetics of the substrate. The major end-use industries deploying the use of Elastomeric Coatings are buildings & construction, transportation, marine, and others.

According to the study conducted, the Global Protective Coating Market is projected to reach USD 25 billion by the end of 2023 at a robust CAGR. This is expected to boost the demand for the Elastomeric Coating during the forecast period, 2018–2023. The elastomeric coating accounts for over a quarter share of the global protective coatings market and is expected to retain its dominance throughout the forecast period (2018–2023). The Elastomeric Coatings serve a wide scope of applications and are witnessing significantly higher growth owing to continuously increasing demand for Elastomeric Coatings from the major end-use industries. In numerous industries, there is a growing need for the protective coatings to be applied to equipment, tools, and heavy machine parts. The rapid industrialization in almost all the developing countries is likely to fuel demand for these types of coatings. However, the fluctuating prices of raw materials such as coatings resins and crude oil-based products are expected to hamper the growth of the market during the assessment period.

Segmentation

The Global Elastomeric Coating Market is segmented on the basis of Type, Technology, Application, end Use, and Region.

Based on the Type the market is segmented into acrylic, polyurethane, silicone, polysulfide, and others.

By Technology, the market is categorized into water-borne, solvent-borne, and radiation cured.

On the Basis of the Application, the market is segmented into wall, roof, floor, and others.

Based in the End Use, the Global Elastomeric Coatings Market is segmented into residential, commercial industrial.

Geographically, the market is segmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.

Regional Analysis

The Global Elastomeric Coatings Market is spanned across the five major regions: Asia Pacific, North America, Europe Latin America, and the Middle East & Africa. Asia Pacific is dominating the market by holding the largest share. This is mainly attributed to the leading edge achieved by this region in industrialization and urbanization. Furthermore, the governments in this region are heavily focusing on their infrastructural development. India, Japan, South Korea, and China are the major contributors to this regional market. In terms of market size, North America is following Asia Pacific. The U.S is the largest market in this region due to a steady rise in the use of Elastomeric Coating materials, mainly in reconstruction activities and marine and automotive industries. Europe is closely following North America in the Global Elastomeric Coatings Market. The major markets in this region are Germany, the U.K., France, and Italy due to huge demand for the product from the automotive industry.

Lastly, Latin America and the Middle East & Africa is witnessing a steady growth of the major end-use industries in the countries namely Brazil, Saudi Arabia, Turkey, the UAE, and Argentina. The pacifying economic situation in both the regions is likely to favor the growth in regional market. In the coming years, Latin America and the Middle East & Africa are likely to contribute significantly to the growth of the market owing to increasing demand from the building and construction industry.

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Elastomeric Coatings Market 2018 Overview, Outlook, Segmentation, Applications, Forecast, Analysis 2023

Elastomeric Coating Market- Competitive Landscape:
The Elastomeric Coating Market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Elastomeric Coating Market is set to grow at a significant rate which is likely to attract many newcomers to the market resulting into strong competition in the future. Manufacturers operating in the elastomeric coating market are struggling to respond to an increase in demand for the product from automotive, construction & buildings, aerospace, and other sectors attributed to growing production capacity in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.

Industry/ Innovation/ Related News:
May 22, 2017 – PPG Industries, Inc (U.S.), one of the leading producers of elastomeric coating, declared that the company has developed a new product called PPG Paints PERMA-CRETE® PITT-FLEX® elastomeric coating for end-use applications. This product was produced to counteract exceptional dirt resistance and developed a flexible bond to hinder the formation of hairline cracks. One of the sources of the company also announced that the product can be utilized in low temperature applications. Therefore, these factors are expected to drive the market over the assessment period.

January 19, 2017 – The Sherwin-Williams Company (U.S.), one of the leading producers of elastomeric coating, declared that the company has created a new product called SuperDeck Deck & Dock Elastomeric Coating for rough or damaged surfaces. This product was known for semi-transparent, semi-solid and solid colour stains. One of the sources of the company also announced that the product can be utilized in a wide range of applications. Therefore, these factors are expected to drive the market over the assessment period.

Elastomeric Coating Market – Market Overview:
The Global Elastomeric Coating Market is growing with the instantaneous pace; mainly due to the burgeoning construction industries. According to a recent study report published by the Market Research Future, the global market of Elastomeric Coating is prospering and expected to gain strong influence over the forecast period. The market is estimated to demonstrate a remarkable growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the forecasted period (2017 – 2022).

Globally, the market for Elastomeric Coating is driven by the region Asia Pacific, owing to growing consumption of the product for exterior masonry surfaces such as concrete, stucco, and concrete block. This type of coating is used in coolers, freezers, and cryogenic units due to advantages offered by the product such as protective and water-proof characteristics. Additionally, acryl elastomeric coatings are utilized in various applications such as wall, flooring, and roofing.

Increasing demand for the product in applications such as tilt-up concrete, roofing structures, and others signifies the growth of construction industries. Moreover, growing consumption of product due to unique features offered by the product such as thermal, chemical along with UV resistance provide a boost to the Elastomeric Coating Market growth.

On the other hand, extensive use of water-based products in major industries is projected to propel the market growth during the forecast period.

Elastomeric coatings are used in various end-use industries such as automotive, construction & buildings, marine, aerospace, energy, and others. They are also utilized to protect the roof structures and concrete materials from dirt, repellents and water. The growing demand of these coatings has prompted the manufacturers and investors to shift their focus from solvent-borne to water-based products in end-use applications. Additionally, the growing research & development activities and innovations of the product in the established companies have resulted into a remarkable growth in the market during the forecast period.

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