Global Elastomeric Coating Market, By 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), End-Use (Residential, Commercial, Industrial, Others) – Industry Trends and Forecast to 2030.
Elastomeric Coating Market Analysis and Size
Elastomeric coating is an above-grade exterior wall or roof coating that is incredibly flexible, about ten times thicker than paint, and aids in waterproofing the structure's exterior. The market for elastomeric coatings is predicted to expand during the forecasted period through the rising demand in infrastructure and building facilities to provide the best waterproofing to virtually any surface. They are the ideal choice for use as elastomeric wall coatings in the construction industry because it is also anticipated that the elastomeric wall coating application will dominate the market for elastomeric coating.
Data Bridge Market Research analyses that the elastomeric coating market, valued at USD 7,154.55 million in 2022, will reach USD 18,685.93 million by 2030, growing at a CAGR of 12.75% during the forecast period of 2023 to 2030. 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.
Elastomeric Coating Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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), End-Use (Residential, Commercial, Industrial, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America,
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Market Players Covered
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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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Market Opportunities
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Market Definition
Elastomeric coatings can be stretched to almost double their original size and return to their actual dimensions after removal. Through its exceptional thickness and flexibility, this type of coating is highly effective at sealing even the most minor roof leaks. Additionally, it is still liquid when using elastomeric coatings on any surface, including walls, roofs, etc., before application. After the application is finished, it completely dries out and remains hard on the structure's face and flexible underneath it, moving with the system.
Elastomeric Coating Market Dynamics
Drivers
- High usage in the infrastructure and construction industry drives the market.
The building and construction industry has been the largest end-user of elastomeric coating, and this sector is driving the growth of elastomeric coating. Elastomeric coatings can now protect concrete, metal, and plastic surfaces. To prevent water from penetrating the built-up walls, elastomeric coatings fill in the cracks that develop on stucco, concrete exterior walls, and roofs. Acrylic, silicone, and polyurethane polymers are some of these coatings. Through the high surface tension of these polymers, water droplets bead and cannot penetrate the inner layers of concrete. Through their particular utility, elastomeric coatings are expected to increase demand from the building and construction sector, and thus market sees an expansion.
- Rising demand for elastomeric coating products in the automotive industry
The increasing demand for elastomeric coating products, which is anticipated to increase elastomeric coating product adoption in the automotive industry, is a significant factor expected to fuel the target market's growth. These coatings are suitable for use on the plastic surfaces of automotive body parts because they are highly durable and maintain the aesthetic. Key elastomeric coatings include acrylic, polyurethane, polysulfide, butyl, silicone, and vinyl polymers.
Opportunities
- Expanding global trade and business creates an opportunity to grow.
The long-term outlook for the global elastomeric coating industry is anticipated to be favorable through socioeconomic factors such as rising disposable income, accelerated urbanization and industrialization, and economic growth. Elastomeric coatings are used on ships and marine vessels as anti-fouling agents. It extends the longevity and durability of offshore structures and marine vessels. Shipbuilding is expected to be driven by expanding global trade and business. As a result, the global market for elastomeric coatings is anticipated to increase during the forecast period.
- Rapid technological advancement creates a surge in market growth.
Through technological advancements, homeowners are no longer limited to hiring only professionals to apply an elastomeric coating. Modern coating technologies make water-borne, powder, and other coating types possible. These technologies have attracted much interest for waterproofing applications in various industries, including oil and gas, automotive and transportation, chemical and energy, build and construction, and automotive.
Restraints/Challenges
- Price volatility could restrain growth.
The market for elastomeric coatings is constrained by the high cost of resigning and the fluctuation of raw materials. However, elastomeric coatings are gaining popularity in the construction industry for waterproofing and flexible protective layers, resistance to solvents and microorganisms, and high adhesion strength. As a result, it is anticipated that there will be a significant growth in demand for elastomeric coating with the rapid growth of construction.
- The sudden decline in DIY has restricted the market.
The DIY or Do-It-Yourself sector of the market is now experiencing a surge in consumer interest. People either feel retaliatory spending or want to upgrade their homes to fit their new lifestyle. There are DIY elastomeric coating products on the market which simplify application. Several factors, including a general decline in interest, rising household incomes that encourage homeowners to hire professionals, lower rates of intra-state mobility, and most importantly, the aforementioned aging population in the United States, can be blamed for the steady decline in DIY home improvement spending among homeowners in recent years.
This elastomeric coating 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 elastomeric coating market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
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.
Recent Developments
- In 2021 PPG announced that it supplied United Launch Alliance (ULA) with aerospace sealants, coatings, and adhesives for the ATLAS V 541 rocket that launched NASA's Perseverance rover to Mars in July 2020. In February 2021, the rover touched down on the Red Planet after a nearly seven-month space voyage.
- In 2021, PPG revealed that it had successfully acquired Wörwag, a significant producer of coatings for use in both industrial and automotive applications. Based in Stuttgart, Germany, the company specializes in creating environmentally friendly liquid, powder, and film coatings. It also has offices in the United States, China, South Africa, Mexico, Spain, Switzerland, and Poland. Wörwag, which was founded in 1918, has about 1,100 employees worldwide.
- In 2021, Vizient, the country's largest member-driven healthcare performance improvement company, and PPG announced a partnership. This agreement's financial specifics were not made public.
- In 2021, PPG declared that the purchase of Versa Flex from DalFort Capital Partners had been completed. Versa Flex specializes in polyurethane, epoxy, and polyurea coatings for industrial flooring, transportation infrastructure, and water and wastewater infrastructure.
- In 2021, PPG announced the release of a digital styling program that allows automotive designers to create incredibly lifelike three-dimensional models of automotive colors and effects on digitally created car designs and surfaces.
- In 2021, Versa Flex, a producer of polyurea, epoxy, and polyurethane coatings for flooring, transportation infrastructure, and industrial applications, announced that PPG had reached a binding agreement to acquire the company. Versa Flex is one of DalFort Capital Partners' portfolio companies. Under normal closing conditions, the deal is anticipated to close in the first quarter of 2021. Financial details weren't made public.
Global Elastomeric Coating Market Scope
The elastomeric coating 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
- Bridges Coating
- Others
- Build up roofing
- Concrete Roofing
- Metal Roofing
- Modified Bitumen Roofing
- Polyurethane foam roofing
- Single ply roofing
- Bridges
End-Use
- Residential
- Commercial
- Automotive
- Transportation
- Marine
- Aerospace
- Industrial
- Others
Elastomeric Coating Market Regional Analysis/Insights
The elastomeric coating market is analysed and market size insights and trends are provided by country, type, technology, application and end-use as referenced above.
The countries covered in the elastomeric coating market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the elastomeric coating market due to the large market share of U.S. in the consumption of elastomeric coating. Additionally, a USD 3.4 trillion infrastructure bill recently passed by the government has increased demand for elastomeric coating as a less expensive and more durable type of coating in the North American region.
The Asia-Pacific region is expected to grow the most in the construction and automotive industry. The Asia-Pacific region dominated the global market share. In the upcoming years, the market for elastomeric coatings is anticipated to grow due to the rising investments in residential and commercial construction in nations such as India, China, the Philippines, Vietnam, and Indonesia.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as 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 elastomeric coating 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 elastomeric coating market.
Some of the major players operating in the elastomeric coating 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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