Elastomeric coatings are used widely to provide rigid exterior finish to concrete, metal, and other layers. These coatings are widely applied on walls, floors, roof tops and other exterior insulation areas in construction. Elastomeric Coating with its properties such as rigidity, flexibility and high adhesive nature is been considered as one of the preferred coating material over the traditional and conventional coating substitutes.
The Global Elastomeric Coating Market is driven by the growth in building and construction industry. The Construction sector is the largest end-user of the coating material. The properties of this coating material such as resistance from settling of dirt, moisture, and climate proof make it an ideal category of coats for the construction industry. Furthermore the ability of these coasting materials to be used on the steel bars which are highly corrosive further augments the market for elastomeric coating. There is an increased awareness among the suppliers and dealers about the elastomeric coating, which has resulted in increased popularity of such materials.
Furthermore the growth of automotive industry due to high demand for automobile from the emerging nations has led to the increase of elastomeric coating. The regions of APAC have shown high population and urbanization which fuels the demand for automobiles in the region. Additionally, APAC is currently valued as the fastest growing market for elastomeric coating and is expected to keep up the pace by 2022. The foreign and domestic investment in infrastructure industry widens the scope for coating material. The global elastomeric coating market is expected to cross USD 14 Billion market at the end of the forecasted period and is expected to show a staggering growth at CAGR of approximately 15% from 2016 to 2022.
The key players of Global Elastomeric Coating Market report include-
- BASF SE,
- Sherwin-Williams Company,
- The Dow Chemical Company,
- PPG Industries Inc.,
- The Valspar Corporation,
- Clariant AG,
- Jotun A/S,
- Progressive Painting Inc.,
- BEHR Process Corporation,
- Nippon Paints,
- Rodda Paints,
- Dulux Group.
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Market Research Analysis:
Elastomeric Coating is one of the most preferred packaging materials by the companies and the consumers due to its properties such as rigidness, durability, flexibility and anti-corrosive nature. The applicability in the various applications across construction industry has widened over a period of time. With increasing awareness among dealers and suppliers along with rapid increase in disposable income induces the market for high quality coating material.
It is expected that the global elastomeric coating market will advance with higher growth rate as compared to previous years. The current challenge for the market is fluctuating raw material prices. The increasing disposable income of average consumers in the emerging economies is driving the market of elastomeric coating along with upcoming government policies to strengthen the infrastructure for the rising population and industrialization, especially in APAC. Acrylic is the largest market by type and is expected to attain a similar share in global elastomeric coating market by 2022. Furthermore the growth in automotive sector on a global level has fueled the demand from such coating material which is used extensively in automotive sector.
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Scope of the report
This study provides an overview of the industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global elastomeric coating market as types, technology and application. On the basis of types it is segmented as acrylic, silicon, polyurethane, and others. On the basis of technology it is segmented as waterborne and solvent borne. On the basis of application it is segmented as wall coatings, roof coatings, floor coatings and others.
APAC will be the Fastest Growing Market
APAC is expected to dominate the market for global Elastomeric Coating. With the industrialization and increasing population in the region, the demand for high quality coating material for their upcoming construction projects have gone up. The demand is expected to grow in coming years resulting in an expanding share of APAC in global Elastomeric Coating market by 2022. Furthermore the increased foreign investment in the region with fast economic growth will lead to a fast growing market for elastomeric coating.
North America and Europe are the well-established markets for such polymers and the regions are expected to show steady growth in global Elastomeric Coating market by 2022.
The report for Global Elastomeric Coating Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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