Market Size of Elastomeric Coatings Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 12.95 Billion |
| Market Size (2029) | USD 16.07 Billion |
| CAGR (2024 - 2029) | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Elastomeric Coatings Market Analysis
The Elastomeric Coatings Market size is estimated at USD 12.95 billion in 2024, and is expected to reach USD 16.07 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
The COVID-19 pandemic hampered the Elastomeric coatings market. Due to nationwide lockdowns in several countries, strict social distancing measures affected residential and infrastructural construction activities, further affecting the market for elastomeric coatings. However, the market recovered after the restrictions were lifted and residential and infrastructural activities across the globe normalized.
- The increasing usage in the architectural and infrastructural industries and the rising demand for elastomeric coating products in the automotive industry are expected to drive the market for elastomeric coatings.
- On the flip side, the higher costs compared to conventional coatings and the fluctuations in the prices of raw materials are expected to hinder the growth of the market.
- The rapid industrialization and the increasing investments in the construction industry are expected to create opportunities for the market during the forecast period.
- The Asia-Pacific region is expected to dominate the market. It is also expected to register the highest CAGR during the forecast period. It is due to the rising demand for elastomeric coatings in residential and infrastructural end-user industries.
