Elastomeric Coating Market Analysis | 2024-2030

Market Insights

The elastomeric coating market was estimated at USD 14.1 billion in 2023 and is likely to grow at a CAGR of 14.5% during 2024-2030 to reach USD 15.9 billion in 2030.

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Market Dynamics

Introduction

Elastomeric coatings possess high flexibility with enhanced mechanical properties, and they can be utilized in providing a durable outer layer on flooring, cladding, walls, and metal and plastic surfaces. Elastomeric coatings are quite thicker than paints and other coatings, thus providing a shield to the structure on which these are to be applied. The global demand for elastomeric coatings is expected to grow gradually across the projected period due to the increasing use of industrial applications such as automotive, construction, and marine. The sectors mentioned above rely on elastomeric coatings as they protect the material or object from wear and tear but retain its natural appeal.

Market Drivers

Some of the drivers for the global elastomeric coatings market that will drive the growth are rapid industrialization and increased investment in the building industry segment. It can be assumed that the construction industry will be the chief end-user of elastomeric coatings. It is normally applied as a spray to exterior walls and structures to shield them from rising levels of airborne particles, acid rain, and other extremities of climate. Also, an increase in global per capita disposable income will sustain the growth of the elastomeric coatings market at the global level. In addition, there will be an increase in the demand for commercial vehicles due to the increase in industrialization, which is expected to propel the demand for elastomeric coatings in the projected period.

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Key Players

The market is fragmented with the presence of over 50 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Elastomeric Coating Market:

Here is the list of the Top Players (Based on Dominance)

• Henry (California)
• Dow Corning Corporation (U.S.)
• Progressive Painting Inc. (U.S.)
• Sherwin Williams (U.S.)
• Wall Coatings Industries (U.S.)
• Nippon Paints (U.S.)
• Rodda Paints (U.S.)

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Type

“Acrylic is expected to continue as the leading, as well as anticipated to be the fastest-growing elastomeric coating type during the forecast period.”

• The elastomeric coating market is segmented into acrylic, polyurethane, silicone, and butyl types.
• Acrylic elastomeric coating is anticipated to be the dominant as well as the fastest-growing coating type owing to its excellent durability, flexibility, and weather resistance.
• In addition to this, they can also withstand extreme temperatures, UV radiation, and harsh weather conditions, making it an ideal elastomeric coating type.

By Technology Type

“Waterborne is expected to remain the dominant and fastest-growing technology type during the forecast period.”

• The market is segmented into Waterborne and Solvent-borne.
• There is a growing emphasis on reducing volatile organic compounds (VOCs) and other harmful emissions in the coatings industry. Waterborne coatings typically have lower VOC levels compared to solvent-borne coatings, making them an ideal choice in the coating industry.
• Waterborne coatings can be cleaned up with water, making the cleanup process easier and less costly compared to solvent-borne coatings, which often require the use of strong chemicals for cleanup.

By Application Type

"Wall coatings are expected to remain dominant as well as be estimated to be the fastest-growing application during the forecast period.”

• The market is segmented into wall coatings, floor/horizontal surface coatings, and roof coatings.
• Wall coating provides excellent waterproofing, flexibility to bridge cracks, and enhanced durability, required for protecting exterior walls from harsh weather conditions and extending the lifespan of buildings.

Regional Insights

“North America is expected to remain the largest market for Elastomeric Coatings, whereas Asia-Pacific is estimated to be the fastest-growing during the forecast period.”

• North America is the largest consumer of elastomeric coatings, with a high CAGR expected.
• The North American elastomeric coating market is likely to be led by nations such as the United States and Canada as they have a well-developed construction industry, strict environmental guidelines and regulations, high demand for energy-efficient buildings, and various ongoing construction projects.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s elastomeric coating market realities and future market possibilities for the forecast period of 2024 to 2030. After a continuous interest in our elastomeric coating market report from the industry stakeholders, we have tried to further accentuate our research scope to the elastomeric coating market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Application Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The elastomeric coating market is segmented into the following categories.

By Application Type

• Acrylic
• Polyurethane
• Silicone
• Butyl

By Technology Type

• Waterborne
• Solvent borne

By Application Type

• Wall Coatings
• Floor/Horizontal Surface Coatings
• Roof Coatings

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Western Europe and Eastern Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com