Global Elastomeric Coating Market – Industry Trends and Forecast to 2031

Elastomeric Coating Market Analysis and Size

The elastomeric coatings market is experiencing steady growth, driven by increasing demand from the construction, automotive, and industrial sectors. Elastomeric coatings are valued for their ability to provide protective, waterproof, and weather-resistant properties to various surfaces. In the construction industry, elastomeric coatings are widely used for roof coatings, wall coatings, and waterproofing applications due to their durability and energy-efficient properties. The automotive industry also contributes to the growth of the market, as these coatings are used for protecting automotive surfaces from corrosion, abrasion, and weathering. In addition, the industrial sector utilizes elastomeric coatings for corrosion protection, chemical resistance, and anti-slip properties. Technological advancements, such as the progress in eco-friendly and sustainable elastomeric coatings, are also driving the market.

The global elastomeric coating market size was valued at USD 8.06 billion in 2023 and is projected to reach USD 21.05 billion by 2031, with a CAGR of 12.75% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Elastomeric coatings are a type of protective coating commonly used in construction and industrial applications. These coatings are formulated with elastomeric polymers, such as acrylic, silicone, or polyurethane, which impart elasticity and flexibility to the coating. Elastomeric coatings are applied as a liquid and cure to form a seamless, waterproof membrane that can expand and contract with substrate movements.

Elastomeric Coating Market Dynamics

Drivers

• Growing Construction Industry   

These elastomeric coatings play a crucial role in protecting structures from environmental elements and extending their lifespan. Elastomeric coatings are widely used in various construction applications, including roof coatings, wall coatings, and waterproofing. The increasing urbanization and infrastructure development projects in emerging economies are driving the demand for elastomeric coatings. In addition, the growing awareness about the benefits of elastomeric coatings, such as their ability to improve energy efficiency and reduce maintenance costs, is further boosting their demand in the construction industry.                                

• Rising Demand for Energy-Efficient Coatings      

Elastomeric coatings are gaining popularity due to their energy-efficient properties, which contribute to reducing the overall energy consumption of buildings. These coatings can reflect heat and UV rays, reducing the need for air conditioning and lowering energy costs. With a growing focus on energy efficiency and sustainability, particularly in the construction industry, the demand for elastomeric coatings is expected to rise. In addition, elastomeric coatings can help buildings meet energy efficiency standards and certifications, such as LEED (Leadership in Energy and Environmental Design), further driving their adoption in the construction sector.

Opportunities 

• Increasing Infrastructure Development 

Elastomeric coatings play a crucial role in protecting infrastructure such as roads, bridges, and buildings from weathering and corrosion, extending their lifespan and reducing maintenance costs. With increasing urbanization and the need for sustainable infrastructure, there is a growing demand for high-performance coatings that can withstand harsh environmental conditions. Given their durability and weather-resistant properties, elastomeric coatings are ideal for infrastructure projects, making them a favored option for both governments and contractors. Government initiatives and investments in infrastructure development are creating a significant market opportunity for the market.              

• Development of Bio-based Elastomeric Coatings      

With the increasing demand for sustainable coatings, bio-based elastomeric coatings present a viable alternative to conventional petroleum-based coatings. These coatings not only reduce reliance on fossil fuels but also have lower VOC emissions, making them environmentally friendly. In addition, bio-based elastomeric coatings can provide performance comparable to traditional coatings, offering a sustainable solution without compromising on quality. As consumers and industries increasingly prioritize sustainability, the market for bio-based elastomeric coatings is expected to expand significantly and create market opportunity.

Restraints/Challenges

• Stringent Environmental Regulations         

Manufacturers are required to comply with these regulations, which can increase production costs and limit the use of certain ingredients. Compliance with these regulations often requires the reformulation of coatings to reduce VOC emissions, which can impact the performance and cost-effectiveness of elastomeric coatings. Stringent regulations regarding volatile organic compound (VOC) emissions and hazardous substances in coatings pose a significant challenge for the market. In addition, monitoring and ensuring compliance with these regulations can be complex and time-consuming, further adding to the challenges faced by manufacturers in the elastomeric coatings market.

• Limited Durability in Harsh Environments     

Despite offering durability and weather resistance, elastomeric coatings may not perform as effectively in extremely harsh environments, thus restricting their use in specific industries and regions. In environments with high levels of pollution, extreme temperatures, or exposure to harsh chemicals, elastomeric coatings may degrade faster or not provide the desired level of protection. This limitation can restrict the use of elastomeric coatings in industries such as heavy manufacturing, oil and gas, and marine, where coatings are subjected to extreme conditions. Manufacturers and researchers are continuously working to develop elastomeric coatings that can withstand these harsh environments, but overcoming this challenge remains a significant hurdle for the market.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In December 2023, WEG company developed an innovative coating that promises significant benefits for offshore industries. Utilizing WrapX technology, the coating is based on high-performance elastomeric coatings, which effectively enhance the durability of the coated surface
• In April 2023, Gaco, a leading manufacturer of roofing systems, unveiled its latest product, GacoFlex A48, an acrylic elastomeric roof coating. This single-component coating is designed to be applied in a single pass application, offering the ability to apply up to 80 wet mils (5 gal/SQ). The elastomeric properties of the coating provide a long lifespan for roofs, improve their visual appearance, ensure strong adhesion, offer high tensile strength, and provide excellent reflectivity

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Elastomeric Coating Market Scope

The market is segmented on the basis of type, technology, application, and end- use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Acrylic Elastomeric Coating
• Polyurethane Elastomeric Coating
• Silicone Elastomeric Coating
• Butyl Elastomeric Coating
• Polysulfide
• Vinyl Polymers
• Epoxy
• Polyurea
• Others

Technology

• Water-Borne Elastomeric Coating
• Solvent-Borne Elastomeric Coating

Application

• Building and construction
• Wall Coating
• Floor Coating/ Horizontal Surface Coatings
• Roof Coating
  • Build up roofing
  • Concrete Roofing
  • Metal Roofing
  • Modified Bitumen Roofing
  • Polyurethane foam roofing
  • Single Ply roofing
• Bridges Coating
• Others

End-Use

• Residential
• Commercial
  • Automotive
  • Transportation
  • Marine
  • Aerospace
• Industrial
• Others

Elastomeric Coating Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, type, technology, application, and end-use as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.

North America is expected to dominate the market due to the significant market share held by the U.S. in elastomeric coating consumption. The recent passing of an infrastructure bill with substantial budget by the government has further fueled demand for elastomeric coatings in the region. In North America, these coatings are preferred for their cost-effectiveness and durability. 

Asia-Pacific is expected to be the fastest growing due to increased investments in residential and commercial construction in countries such as India, China, Philippines, Vietnam, and Indonesia. This region already holds a dominant share of the market, particularly in the construction and automotive industries.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Elastomeric Coating Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:

• BASF SE (Germany)
• Dow (U.S.)
• CLARIANT (Switzerland)
• Nippon Paint Holdings Co., Ltd.(Japan)
• PPG Industries, Inc. (U.S.)
• The Sherwin-Williams Company (U.S.)
• Huntsman International LLC. (U.S.)
• MarvelVinyls (India)
• The VersaFlex Companies (U.S.)
• Axalta Coating Systems, LLC (U.S.)
• Pidilite Industries Ltd. (India)
• Valspar (U.S.)  
• Rhino Linings Corporation. (U.S.)
• Nukote Coating Systems, Intl. (U.S.)
• Jotun (Norway)
• RODDA PAINT, CO. (U.S.)
• Constro Chem India Pvt. Ltd. (India)
• ELMET (U.S.)
• Aalberts Surface Technologies GmbH (Netherlands)

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