At a 16.20% CAGR, Elastomeric Coating Market to Witness Astonishing Growth Is Predictable to Touch USD 44.83 Billion by 2029

Exactitude Consultancy Market Research analyses that the Elastomeric Coating Market will witness a CAGR of 16.20% for the forecast period of 2023-2029 and is likely USD 11.79 Billion in 2022 to reach at USD 44.83 Billion by 2029.

Elastomeric coatings are an above-grade material and are basically ten times as thick as normal paint with the capacity of being stretched to nearly twice its' original size and can recover to its original dimensions upon removal. This type of coating is exceedingly proficient in covering hair-line cracks to prevent water leaks on the roof as it is exceptionally thick and flexible. Elastomeric coatings can be applied to any surface like roofs, walls, ETC. Before its application, it remains in liquid form and after its' application is complete, it completely dries out and remains both hardened on the face of the structure and flexible beneath the structure and moves with as the structure moves.

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Elastomeric Coatings Market: Key Drivers, Trends, and Challenges

✦ Elastomeric Coatings Market Driver

» The increasing consumption of thermoplastic elastomer coatings in the automotive industry is one of the key drivers supporting the elastomeric coatings market growth. 

Thermoplastic elastomers, such as acrylic, ethylene-propylene rubber, polyurethane, and other polymers, are preferred for coating applications in automotive plastic components. For instance, according to the International Trade Administration (ITA), the Chinese government is expected to increase the sales of automobiles in the country to 35 million units by 2025. Furthermore, according to the India Brand Equity Foundation (IBEF), the Indian government expects the automotive sector to attract $8-$10 billion in local and foreign investments by the end of 2023. Hence, such factors are expected to boost the growth of the automotive industry, which, in turn, will accelerate the demand for elastomeric coatings during the forecast period.

✦ Elastomeric Coatings Market Trend

» The burgeoning construction industry is another factor supporting the elastomeric coatings market growth. 

Elastomeric coatings materials, such as acrylic, polyurethane, polysulfide rubber, silicone, and epoxy, are used as a surface coating in buildings, including the wall area, floors, and roof coverings. These coatings are widely used in buildings due to beneficial properties, such as abrasion resistance, chemical resistance, tear strength, high resistance to moisture, and temperature compatibility. Thus, the rapid growth of the building and construction sector worldwide is driving the demand for elastomeric coatings. Furthermore, some of the major ongoing construction projects across the world that are expected to boost the growth of the elastomeric coatings market during the forecast period

✦ Elastomeric Coatings Market Challenge

» Volatility in the prices of raw materials is one of the factors hindering the elastomeric coatings market growth. 

Global crude oil demand declined by 2.5 million barrels per day (mb/d) in Q2 2022 due to the nationwide lockdowns implemented across countries globally following the outbreak of COVID-19. In the second quarter, i.e., Q2 2022, global oil declined by around 90,000 barrels a day compared with the corresponding period in 2022. In addition, according to BP's statistics, oil prices declined to $64.21/bbl in 2023, while they were $71.31/bbl in 2022. Furthermore, in February 2022, the price of crude oil crossed $100/bbl, primarily to the imminent war between Russia and Ukraine. Thus, fluctuations in the global prices of crude oil hamper the growth of the global elastomeric coatings market.

Prominent Key players of the Elastomeric Coating Market survey report:

Historical data available in the report elaborates on the development of the Elastomeric Coating on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - Henry (California), Dow Corning Corporation (U.S.), Progressive Painting Inc. (U.S.), Sherwin Williams (U.S.), PPG Industries (U.S.), Nippon Paints (U.S.), and Rodda Paints (U.S.)

Some of the recent developments of key Elastomeric Coating providers are as follows:

In February 2021, PPG acquired Versa Flex from DalFort Capital Partners. For industrial flooring, transportation infrastructure, and water and wastewater infrastructure, Versa Flex specializes in polyurethane, epoxy, and polyurethane coatings.

In May 2021, PPG announced that it has completed the acquisition of Worwag, a significant manufacturer of coatings used in both industrial and automotive applications. The company specializes in producing powder, liquid, and film coatings that are environmentally friendly.

Elastomeric Coating Market Segmentation:

Elastomeric Coating Market by Type, 2023-2029, (USD Millions)

» Acrylic

» Polyurethane

» Silicone

» Butyl

Elastomeric Coating Market by Technology, 2023-2029, (USD Millions)

» Waterborne

» Solvent Borne

Elastomeric Coating Market by Application, 2023-2029, (USD Millions)

» Wall Coatings

» Floor/ Horizontal Surface Coatings

» Roof Coatings

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Elastomeric Coating Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Elastomeric Coating industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Elastomeric Coating industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Elastomeric Coating Market Research Report 2023-2029

1 Elastomeric Coating Market Overview

1.1 Product Overview and Scope of Elastomeric Coating

1.2 Elastomeric Coating Segment by Type (Product Category)

1.3 Global Elastomeric Coating market Segment by Application

1.4 Global Elastomeric Coating Market by Region (2023-2029)

1.4.1 Global Elastomeric Coating Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Elastomeric Coating (2023-2029)

1.5.1 Global Elastomeric Coating Revenue Status and Outlook (2023-2029)

1.5.2 Global Elastomeric Coating Capacity, Production Status and Outlook (2023-2029)

…

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