Posted By Coherent Market Insights
Posted on October 10, 2021
The global elastomeric coating market is projected to reach USD 13.58 Billion by 2021, registering a CAGR of 15.19% between 2016 and 2021.
Elastomeric coating is higher volume solid as compared to conventional paints. The main advantage of elastomeric coatings is that it helps secure hairline cracks on the surface. These coatings tend to stretch on these surfaces and thus, provide basic protection to the applied surface from external damage. This has propelled the use of elastomeric coatings in the construction industry. Elastomeric coatings are used extensively on mineral surfaces which develop cracks due to temperature variation.
The research report studies the Elastomeric Coating Market using different methodologies and analyzers to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market.
Top Key Players in Elastomeric Coating market: BASF SE, Progressive Paintings Inc., The Dow Chemical Company, Sherwin Williams Company, PPG Industries Inc., Industria Chimica Adriatica SpA, Nippon Paints, Clariant, The Valspar Corporation, and Rodda Paints, among others.
Regional Analysis:
The market research report on the global Elastomeric Coating market offers complete analysis across various regions around the globe. The report contains detailed country-level analysis, market revenue, market value and forecast analysis for the following countries and regions: Geographically, the comprehensive analysis of ingestion, revenue and Market share and growth speed, historical and forecast (2021-2027) of these regions are covered.
Elastomeric Coating Market Outlook – Burgeoning demand for Waterproof and Durable Coatings to support Flourishing Construction Sector
Asia Pacific is expected to be the most potential market for elastomeric coating manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. Growing population coupled with rapidly increasing construction and automotive industries is expected to fuel demand for elastomeric coatings in the region. This trend is expected to sustain over the forecast period. According to India Brand Equity Foundation (IBEF)—a trust by the Department of Commerce, Ministry of Commerce and Industry, Government of India—by the end of FY20 the Indian construction industry is expected to reach a value of US$ 5 billion. Increasing demand for high quality and sustainable structures is increasing consumption of elastomeric coatings. Rapid growth of the construction industry in Asia Pacific is a key driver for the market.
Key Developments
Increasing R&D activities related to elastomeric coatings is expected to boost the market growth. For instance, on September 17, 2019, researchers from Chongqing University reported synthesis of silane functionalized graphene oxide and its application in anti-corrosion waterborne polyurethane composite coatings.
In August 2019, researchers from Delft University of Technology, The Netherlands, reported internal coating of porous metallic foams with different initial average pore sizes ranging from 1200 μm to 450 μm with elastomeric coatings of various thicknesses, in order to reduce noise obtained by such porous materials when used at the edge of aerodynamic geometries.
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