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Elastomeric Coating Market worth 13.58 Billion USD by 2021
The report "Elastomeric Coating Market by Type (Acrylic, Polyurethane, Silicone, and Butyl), Technology (Waterborne and Solventborne), Application (Wall Coatings, Floor/ Horizontal Surface Coatings, and Roof Coatings) - Global Forecast to 2021", The elastomeric coating market size is estimated to grow from USD 6.70 Billion in 2016 to USD 13.58 Billion by 2021, registering a CAGR of 15.19% between 2016 and 2021.
Browse 129 market data Tables and 51 Figures spread through 156 Pages and in-depth TOC on "Elastomeric Coating Market by Type (Acrylic, Polyurethane, Silicone, and Butyl), Technology (Waterborne and Solventborne), Application (Wall Coatings, Floor/ Horizontal Surface Coatings, and Roof Coatings) - Global Forecast to 2021"
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The market is driven by the rising demand for elastomeric coating in the construction industry. The growing demand from wall coatings, roof coatings, floor/horizontal coatings, and other applications is driving the global elastomeric coating market. Rising awareness of high-quality acrylic-based products and the demand from Asia-Pacific, which is experiencing substantial growth, fueled by their increasing population also drive the market.
Wall coatings is the largest application for elastomeric coating
Elastomeric coatings are used in various applications such wall coatings, roof coatings, floor/horizontal surface coatings, and others. In 2015, the wall coatings application accounted for the largest market share, in terms of value. The demand of wall coatings is driven by its waterproofing and elongation properties. The demand is mainly driven by growing population, especially from China, the U.S., and India. Roof coating is the second-largest application of elastomeric coating due to growing awareness about its uses in the construction sector.
Acrylic is the fastest-growing type of elastomeric coating
Acrylic is the fastest-growing type of elastomeric coating, globally. This is because it is easy to handle, moderately priced, and exhibit good performance in a wide variety of applications such as roof coating, wall coating, and others. The key driver for the growth is its increasing use in wall and roof coatings and growing manufacturing & construction sector in the Asia-Pacific region.
Rising demand in Asia-Pacific is the major driver of the elastomeric coating market
In 2015, North America accounted for the largest market share, in terms of volume and value. The high demand in Asia-Pacific is expected to be the major driver of the global elastomeric coating market. This is due to the increasing demand for quality coating products, rising population in the region, and growing innovation & developments in end-use industries, making it a strong industry hub.
The players profiled in the elastomeric coating market report are BASF SE (Germany), Sherwin-Williams Company (U.S.), PPG Industries Inc. (U.S.), The Dow Chemical Company (U.S.), Jotun A/S (Norway), Progressive Painting Inc. (U.S.), Nippon Paints (Japan), Rodda Paints (U.S.), and other regional players.
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