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Elastomeric Coatings Market Analysis by Application, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
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Elastomeric Coating Market size may witness a steady growth over the projected timeframe owing to increase in construction, automobile and medical equipment industries. It is mainly used to provide exterior finish to plastic, metal, and concrete substrates.
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Elastomeric coating is highly durable, flexible, tough and surface adhesive making it suitable in flooring, cladding and wall coating applications. It has high elongation property which covers hairline cracks, thereby is used for roof waterproofing.
Polyurethane, butyl, silicone, polysulfide, acrylic and vinyl polymers are key elastomeric coating available in the market. Butyl rubber roof coating provides durable and seamless membrane, acts as a protective barrier to substrates, prevents degradation and have excellent elongation properties.
Rise in home renovation and repair projects demand has driven the flooring application in industrial, commercial and residential segment. Increase in residential flooring demand is attributed to rise in disposable income and change in lifestyle. The elastomeric costings are applied over wood floorings and provides enhanced aesthetic values, noise reduction, durability and water resilience.
Elastomeric coating is applied to windows and glaze wind-shield as they provide excellent fog and UV rays resistance. Global automobile industry is poised to exceed USD 85 billion by 2024. Increasing consumer awareness along with shift in preference for stylish vehicle may drive industry growth. Rise in trend towards lightweight vehicles accompanied by fuel efficient cars may influence product demand.
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Japan, China and South Korea has largest ship building yards and may result in regional elastomeric coating market growth.
North America, driven by Canada and the U.S. elastomeric coating market size may show high growth owing to increase in residential & commercial buildings demand.
Europe driven by UK, France and Germany elastomeric coating market size may show significant gains. Rise in aging population has led to increase in heart diseases may show significant stent usage growth.
Asia Pacific led by Japan, India, and China has witness significant growth in elastomeric coating market size. Increase in government initiatives and rise in foreign investment has shown significant growth in construction industry.
Global elastomeric coating market share is fragmented. The dominant players are Jotun, Dow, Progressive Painting, BASF, other players are PPG Industries, Nippon Paints, Henry, Rodda and Sherwin Williams.
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Arun Hegde
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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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