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Elastomeric Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Type (Butyl, Polyurethane, Silicone, Acrylic, and Other Types), Technology (Water-borne and Solvent-borne), Application (Wall Coatings, Roof Coatings, Floor Coatings, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

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Market Snapshot

Elastomeric Coatings Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: <14 %
Elastomeric Coatings Market Key Players

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Market Overview

The elastomeric coatings market is expected to register a CAGR of around 14%, during the forecast period. The major factors driving the growth of the market studied are the growing infrastructure and architectural applications in Asia-Pacific and the Middle East, and increasing renovation and residential construction in North America. However, higher costs compared to conventional coatings, and vulnerability to global petrochemicals price fluctuations are some of the major stumbling blocks for the market studied.

  • The acrylic type segment dominated the market. It is likely to grow during the forecast period, owing to its properties, such as transparency, high colorability, and UV resistance in coating solutions.
  • Reduced maintenance costs have increased its popularity, which is likely to provide opportunities for the market studied, during the forecast period.
  • Asia-Pacific dominated the global market, as the demand is driven by the robust growth of construction activities in the region.

Scope of the Report

The scope of the elastomeric coatings market report includes:

Type
Butyl
Polyurethane
Silicone
Acrylic
Other Types
Technology
Water-borne
Solvent-borne
Application
Wall Coatings
Roof Coatings
Floor Coatings
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Wall Coatings Segment to Dominate the Market Demand

  • The wall coating application is expected to dominate the demand for elastomeric coatings. The elastomeric wall coatings are known for their superior waterproofing and elongation properties, which makes them ideal to use as wall and roof coatings in the construction sector. 
  • The global construction industry grew by about 3.5%, during 2018. Residential and commercial construction activities have been increasing significantly worldwide, which is driving the demand for elastomeric coatings for construction applications.
  • The Asia-Pacific and North American regions have been witnessing strong growth in residential construction, which may increase the demand for elastomeric coatings for residential application, during the forecast period.
  • Moreover, regions like, Asia-Pacific and the Middle East & Africa, are experiencing huge domestic, as well as foreign investments for setting up industrial units, hospitals, malls, multiplexes, hotels/resorts, and the IT sector, which is expected to augment the elastomeric coatings market.
  • Hence, such favorable trends in the construction industry are expected to boost the elastomeric coatings market, during the forecast period.
Elastomeric Coatings Market Key Trends

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share. Owing to the growing investments into the residential and commercial construction in countries, such as India, China, the Philippines, Vietnam, and Indonesia, the market for elastomeric coatings is expected to increase in the coming years.
  • Currently, there are numerous airport construction projects, either in the development or planning stage, in China. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Moreover, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities, over the next 10 years.
  • In India, the government’s target of investing USD 120.5 billion, for developing 27 industrial clusters, is expected to boost commercial construction in the country.
  • In Indonesia, the government planned to invest about USD 450 billion in the construction sector, by 2021, which is expected to boost the residential construction in the country.
  • Hence, such investments and planned projects in Asia-Pacific are boosting the construction activities in the region, which may increase the demand for elastomeric coatings in the region, during the forecast period.
Elastomeric Coatings Market Growth Rate

Competitive Landscape

The elastomeric coatings market is fragmented in nature, with numerous players holding a insignificant share of the market, to individually affect the market dynamics. Some of the major players in the market include BASF SE, the Sherwin Williams Company, Axalta Coatings System, PPG Industries, and Asian Paints Limited, among others.

BASF SE, The Sherwin Williams Company, Axalta Coatings System , PPG Industries Inc., Asian Paints Limited

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Infrastructure and Architectural Applications in the Asia-Pacific and Middle Eastern Countries

      2. 4.1.2 Increasing Renovation and Residential Construction in North America and Europe

    2. 4.2 Restraints

      1. 4.2.1 Higher Costs Compared to Conventional Coatings

      2. 4.2.2 Vulnerability to Global Petrochemicals Price Fluctuations

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Butyl

      2. 5.1.2 Polyurethane

      3. 5.1.3 Silicone

      4. 5.1.4 Acrylic

      5. 5.1.5 Other Types

    2. 5.2 Technology

      1. 5.2.1 Water-borne

      2. 5.2.2 Solvent-borne

    3. 5.3 Application

      1. 5.3.1 Wall Coatings

      2. 5.3.2 Roof Coatings

      3. 5.3.3 Floor Coatings

      4. 5.3.4 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel NV

      2. 6.4.2 Asian Paints Limited

      3. 6.4.3 Axalta Coating Systems LLC

      4. 6.4.4 BASF SE

      5. 6.4.5 Dow

      6. 6.4.6 Henry Company (American Securities LLC)

      7. 6.4.7 Jotun

      8. 6.4.8 Kansai Nerolac Paints Limited

      9. 6.4.9 Nippon Paints

      10. 6.4.10 PPG Industries Inc.

      11. 6.4.11 Progressive Paintings LLC

      12. 6.4.12 Rodda Paint Co.

      13. 6.4.13 Sika AG

      14. 6.4.14 The Sherwin Williams Company

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Reduced Maintenance Costs Increased its Popularity

**Subject to Availability

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Frequently Asked Questions

The Elastomeric Coatings Market market is studied from 2016 - 2026.

The Elastomeric Coatings Market is growing at a CAGR of <14% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

BASF SE, The Sherwin Williams Company, Axalta Coatings System, PPG Industries Inc., Asian Paints Limited are the major companies operating in Elastomeric Coatings Market.

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