Growing demand of elastomeric coatings as acrylic, polyurethane, epoxy, silicone, polyurea and others in various end use industries such as, building & construction, roof, wall, floor, bridges, industrial, automotive & transportation and others are anticipated to bolster the consumption rate in the coming years.

NEWARK, DE / ACCESSWIRE / August 20, 2024 / The global elastomeric coating market is expected to reach USD 15760.5 million by 2034 in response to the growing demand for energy-efficient and sustainable building solutions. The industry is anticipated to reach USD 7874.8 million in 2024. This growth is attributed to the rising number of new product developments worldwide. The market is projected to witness a CAGR of 7.2% through 2034.

The elastomeric coating market is thriving due to the rising demand for energy-efficient and sustainable building solutions. These coatings offer exceptional resistance to weathering, UV radiation, and environmental factors, reducing maintenance and enhancing energy efficiency. Additionally, the emphasis on eco-friendly methods and the growing popularity of cool roof coatings contribute to market growth.

Environmental regulations impact production costs and lead to reformulation to reduce VOC emissions. Elastomeric coatings face challenges in harsh environments but are essential for sustainable infrastructure development. Governmental initiatives and the rise of bio-based elastomeric coatings further drive market expansion.

Elastomeric coatings offer weather resistance and are essential for sustainable infrastructure development. Government initiatives and the rise of bio-based coatings are also contributing to market growth, providing sustainable options without compromising on quality.

What is the Role of Advance Coating Technologies for Elastomeric Coatings Market Growth?

Over the years, the coatings industry has witnessed substantial changes in the technology. Advanced coating technologies consist of water-borne coatings, high solids coatings, powder coatings, etc. These technologies have obtained huge attraction for waterproofing purposes in several end-uses like oil & gas, automotive & transportation, chemicals, energy & power and building & construction.

Furthermore, the increasing number of stringent environmental regulations pertaining to air pollution, coupled with the demand for odourless coatings and coatings with hazardless chemicals, is one of the prime factor driving the growth of advanced coating technologies. Such environmental rules for limiting VOCs emissions and hazardous air pollutants (HAPs) have surged the demand for advanced coatings, such as elastomeric coatings.

As a consequence, there has been a significant hike in the demand for low VOC content coatings. This is expected to raise the demand for elastomeric coatings from manufacturers as the VOC content of elastomeric coatings is less than 10 g/L, which is much less as compared to other conventional coatings.

Key Takeaways from the Elastomeric Coating Market

• The elastomeric coating industry is anticipated to be worth USD 15760.5 million in 2024.

• From 2024 to 2034, the building and construction segment is expected to account for a share of 56.1% CAGR in terms of application.

• The United States is projected to showcase a CAGR of 4% in the forecast period.

• China is anticipated to register a CAGR of 8% over the forecast period.

"Rising demand for high-performance elastomeric coatings, fueled by infrastructure development and a shift toward sustainable bio-based coatings, presents significant opportunities for growth. This trend reflects the increasing priority placed on durability and environmental sustainability in construction projects," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

How Does Elastomeric Coatings Provide Edge Over Other Industrial Coatings?

As compared to the other industrial coatings available in the market, elastomeric coatings offer a wide range of advantageous properties, which collectively make this category of coatings a better choice against other industrial coatings.

For instance, elastomeric coatings offer high water resistance. The thickness of elastomeric coatings is ten times more when compared to other industrial coatings. More importantly, elastomeric coatings are economical and more environment friendly.

The above mentioned properties make elastomeric coatings highly suitable for applications such as, roof and wall water-proofing, wall strengthening, and for the application of environment friendly coatings.

These factors are expected to have a significant impact on the consumption of elastomeric coatings by increasing their preference over other industrial coatings and hence will drive the growth of the global elastomeric coatings market.

To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/elastomeric-coatings-market

Competitive Landscape

The elastomeric coating market is shaped by the active engagement of top companies in strategic activities to secure a significant share. These companies are heavily investing in research to discover new applications and products, enhancing their competitive positions. Strategic collaborations between large and small-scale industries aim to drive innovation and minimize competition in product development.

Competitive evaluation in this market centers on the range of products and services offered, emphasizing performance, durability, and application-specific features. Companies differentiate themselves by focusing on product quality, technological advancements, and the ability to meet specific industry needs. Factors such as environmental sustainability, regulatory compliance, and customer service play significant roles in distinguishing competitors within the elastomeric coating industry.

Market players are leveraging technological advancements and sustainability initiatives to gain a competitive edge. This includes the development of eco-friendly formulations and the integration of advanced materials to meet evolving demands. The competitive landscape is continuously evolving, with companies striving to innovate and differentiate themselves through a combination of product excellence, strategic partnerships, and a customer-centric approach.

A Key Industry Development-

• In 2023, Gaco introduced GacoFlex A48, a new high-build acrylic elastomeric roof coating. The product allows for the application of up to 80 wet mils in a single pass, offering extended roof life, enhanced visual appeal, robust adhesion, high tensile strength, and impressive reflectivity.

What is the role of Automotive & Transportation to surge up the demand for Elastomeric Coatings?

Growing demand for automobiles across geographies has significantly increased the production rate of the global automotive industry. Automotive and transportation is one of the key applications of elastomeric coatings that holds around 1/6th of the global elastomeric coatings market value share.

Therefore, an increase in the automobile construction is expected to have a positive impact on the demand for automotive coatings. Consequently, it is expected to drive the growth of the elastomeric coatings market.

Key Segmentation of Market Report

By Type:

The industry is segregated into acrylic, polyurethane, epoxy, silicone, polyurea, and others.

By Application:

A few important applications include building and construction [roof, wall, floor, bridges, and others], industrial, automotive and transportation, and others.

By Region:

The main countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa are covered.

Authored by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Have a Look at the Related Reports of the Chemicals & Materials Domain:

The BRIC performance coatings market size is expected to generate USD 95.9 billion in revenue in 2022. The market is anticipated to grow at a CAGR of 5.3% to reach USD 160.7 billion by 2032.

The wood coatings market share is anticipated to garner a modest strength with a CAGR of 5.9% from 2022 to 2032.

The global Water Proof Coatings Market is set to thrive at a CAGR of 4.02% between 2022 and 2032 while holding a value of USD 15.81 Billion in 2022. The anticipated value of USD 23.45 Billion by 2032.

The industry size of advanced aerospace coating in Europe trends is estimated to stand at USD 519.66 million in 2024. The industry is projected to exceed a valuation of USD 846.47 million by 2034, registering a moderate CAGR of 4.5%.

The elastomeric membrane market demand had an estimated market share worth USD 45.9 billion in 2023, and it is predicted to reach a global market valuation of USD 98 billion by 2034, growing at a CAGR of 7.1% from 2024 to 2034.

The global super absorbent polymer market forecast reached USD 8.7 billion in 2023. Over the forecast period, the value is anticipated to rise at 5.4% CAGR. It is predicted to increase from USD 9.2 billion in 2024 to USD 15.5 billion in 2034. It is anticipated to exhibit a Y-o-Y growth of 5.6% in 2024.

The global personal care ingredient market type is projected to reach USD 13,643.4 million in 2024. The industry is set to surge at a CAGR of 4.6% during the forecast period 2024 to 2034. It will likely attain a value of USD 21,416.2 million by 2034 and is anticipated to showcase a Y-o-Y growth of 4.1% in 2024.

The global ballistic protection material market segmentation value reached USD 15,247.8 million in 2023. Over the forecast period, the value is anticipated to rise at 6.1% CAGR. The industry is predicted to surge from USD 16,070.3 million in 2024 to USD 28,965 million in 2034. It is further projected to exhibit a Y-O-Y growth of 5.4% in 2024.

The global biocomposite market analysis reached USD 28.4 billion in 2023. Over the forecast period, the value is anticipated to rise at 15.5% CAGR. The industry is predicted to increase from USD 31.76 billion in 2024 to USD 133.84 billion in 2034. It is set to witness a Y-o-Y growth of 11.8% by 2024.

The global argon gas market overview is estimated to be worth USD 241.3 million in 2024. It is anticipated to reach a value of USD 408.4 million by 2034. Sales are projected to rise at a CAGR of 5.4% over the forecast period between 2024 and 2034. The revenue generated by the industry in 2023 was USD 229 million.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube

SOURCE: Future Market Insights, Inc.