Rising demand for eco-friendly and advanced coatings coupled with growing building and construction activities makes elastomeric coatings a popular and innovative choice in the market. Through constant research & development, elastomeric coatings are finding applications in different areas. Further, superior property of the product – water resistance – efficiently protects the intrusion of moisture into the walls, in the construction industry. The growing construction industry is expected to catalyze the growth of the elastomeric coatings market.
The global elastomeric coatings market was valued at US$ 5.2 Bn at the end of 2018, and is expected to witness lucrative growth at a CAGR of more than 7% during the forecast period of 2019-2029.
Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-11071
Key Takeaways of Elastomeric Coatings Market Study
- By type, silicone is expected to be most popular choice of elastomeric coatings, owing to the increasing consumption of silicone-based elastomeric coatings for roof protection against bad weather, standing water, and sun damage.
- In terms of application, the building and construction industry is expected to be a prominent consumer of elastomeric coatings. This is driven by the increasing construction of commercial, domestic, and industrial buildings across geographies. Furthermore, it is expected that, the application of elastomeric coatings on roofs will be prominent throughout the forecast period.
- The elastomeric coatings market is anticipated to grow at a decent rate in developing economies, especially in China, India, ASEAN countries, etc., as favorable market conditions and a large consumer base are fueling the demand for elastomeric coatings.
- Advanced coating technologies have gained tremendous attraction for waterproofing purposes in several industries such as building & construction, automotive & transportation, chemicals, oil & gas, energy & power, etc. Therefore, the shifting trend towards the adoption of advanced coating technologies is expected to drive the growth of the elastomeric coatings market.
“Elastomeric coatings hold more advantages over other coating systems, owing to lower VOC emissions and recyclability, which makes them a preferred choice because of their eco-friendly properties. Attributed to this factor, the demand for elastomeric coatings is anticipated to grow at a significant rate over the forecast period.”
Elastomeric Coatings Market: Competition Analysis
The global elastomeric coatings market is a consolidated market space, due to the presence of less number of market players around the world. Some of the key players identified across the value chain of the global elastomeric coatings market are BASF SE, Rhino Linings Corporation, PPG Industries, Inc., Teknos Group, Huntsman Corporation, Covestro AG, Sherwin-Williams Company, Pidilite Industries Ltd., Versaflex Incorporated, and DowDuPont Inc., among others. Most of the key players maintain strategic focus on the development of distribution partnerships and joint ventures for global expansion. Manufacturers are focusing on manufacturing sustainable products to cater to the increasing demand for such products for various applications.
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-11071
How will the market shape up?
Overall growth prospects of economies are expected to remain positive in the coming years. Owing to rapidly growing industrialization and urbanization, end-use industries such as construction are growing at a significant growth rate, which, in turn, is boosting elastomeric coatings market growth. The building and construction segment is estimated to maintain its prominence over the forecast period, whereas, the usage of elastomeric coatings in industrial applications is projected to gain high traction at a steady peace.
What does the report offers?
The latest publication by Future Market Insights provides comprehensive analysis of the global elastomeric coatings market. This market study provides detailed insights on the elastomeric coatings market through well-structured market research. The global elastomeric coatings market study offers inclusive market analysis of historical performance of 2014-2018 and opportunity assessment for the forecast period of 2019-2029. The market study provides prevalent insights on various aspects of the elastomeric coatings market based on type and application across the targeted seven regions.
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.
- Base Year – 2019
- Forecast Period – 2019-2029
- Market value in 2018 – US$ 5.2 Bn
- CAGR over 2019-2029 – More than 7%
- Segments Covered – Type and Application
- Regions Covered – North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA
- Growth Drivers –
- Growing building and construction projects
- Greater adoption of advanced coating technologies
- Scope of application in biodegradable stents
- Key Companies Covered – PPG Industries Inc., Teknos Group, Covestro AG, and DowDuPont Inc.
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.
- Building & Construction
- Automotive & Transportation
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa