Global Elastomeric Coating Market Industry Revenue Pockets

Northbrook, IL, USA, 2021-Oct-14 — /EPR Network/ —

The size of global elastomeric coating market is estimated to be USD 6.70 billion in 2016 and is projected to reach USD 13.58 billion by 2021, registering a CAGR of 15.19% between 2016 and 2021. The market growth of elastomeric coating is attributed to the high performance of coatings available at reasonable rates as well as increased acceptance from various application segments, high growth in its end-use industries, and increasing demand from the developing countries. Elastomeric coating is largely used in the construction industry in wall coatings, roof coatings, floor/horizontal surface coatings, and others.

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Asia-Pacific is the fastest-growing market for elastomeric coating, in terms of value and volume. The countries in this region such as China, South Korea, India, Indonesia, Vietnam, and Thailand are witnessing a gradual increase in the use of elastomeric coating for walls and roofs application.

China leads the elastomeric coating market in Asia-Pacific. It is projected to be a potential market owing to the growing economy, rapid advances in technology, and increasing manufacturing and application industries. China is followed by Japan, India, and South Korea, where the demand for elastomeric coating is witnessing a steady growth. This growth is driven by the growing collaboration activities adopted by emerging players for R&D, production, and demand for elastomeric coating in the country.

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Acrylic is the fastest-growing type of elastomeric coating. Acrylic coatings are typically water-based, easy-to-handle, moderately priced, and exhibit good performance in a wide variety of applications such as, wall coating, roof coating, and others. Acrylic coatings cure by water evaporation, exhibit a reasonable degree of cohesive strength, and provide good adhesion to most roof surfaces. The rising demand of acrylic in applications such as wall and roof coatings is driving the growth of the acrylic resins market in the developing countries.

The wall coatings segment is projected to be the fastest-growing application of elastomeric coating during the forecast period. Wall coatings offer waterproofing properties, greater elongation, gap filling properties, and others. Thus, it has fueled the growth of elastomeric coating in the wall coatings application in the region.

The companies are constantly strengthening their R&D capabilities to provide cost-effective products. These products are manufactured adhering to the regulations set by various associations and governments. All these developments are expected to lead to a sustainable growth of the elastomeric coating market in the next five years. BASF SE (Germany), Sherwin Williams Company (U.S.), PPG Industries Inc. (U.S.), Nippon Paints (Japan), Jotun A/S (Norway), The Dow Chemical Company (U.S.), Progressive Painting Inc. (U.S.), and Clariant (Switzerland) among others are the active players in the global elastomeric coating market.