The global elastomeric coatings market is poised for robust growth, with a projected steady increase at a rate of 7.6% from 2022 to 2029, according to forecasts by FMI. Anticipating significant expansion, global sales of elastomeric coatings are expected to soar to approximately US$ 11,360.5 million by the end of 2029. This optimistic trajectory underscores the burgeoning demand and promising market potential for elastomeric coatings across diverse industries in the coming decade, reflecting a sustained trend toward their adoption and utilization.
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.
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Key Drivers:
- Rising Construction Activities: With urbanization on the rise globally, there’s a burgeoning demand for elastomeric coatings in the construction sector. These coatings are extensively used for waterproofing roofs, walls, and concrete structures, thereby augmenting their lifespan and reducing maintenance costs.
- Increasing Focus on Sustainable Solutions: Environmental consciousness has propelled the adoption of eco-friendly elastomeric coatings formulated with low volatile organic compounds (VOCs). Government regulations advocating sustainable practices further bolster the market growth.
- Advancements in Technology: Ongoing research and development initiatives have led to the introduction of innovative elastomeric coating formulations with enhanced performance characteristics, such as improved weatherability, adhesion, and ease of application.
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
- Sherwin-Williams Company
- DowDuPont Inc..
- Huntsman Corporation
- Covestro AG
- PPG Industries Inc.
- Versaflex Inc
- Rhino Linings Corporation
- Nukote Coating Systems
- Marvel Industrial Coatings LLC
- Pidilite Industries Ltd.
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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
- Industrial
- Automotive & Transportation
- Others
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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