Elastomeric Coatings Market are covering applied on products to enhance the aesthetic value of products and ensure better protection for them. Mostly, these coatings are applied on concrete, metal, and plastic. These coatings enhance the quality of finish, adds gloss & clarity, provide better weather resistance, improves hardness, and many. Such benefits are expected to assist the global elastomeric coatings market gain unprecedented growth during the forecast period (2018-2023). MRFR in their recent report on the same has declared that the possibility for the market to grow is quite substantial.
The growth in the global protective coating market is expected to take the elastomeric coatings market along with it. Several industries like buildings & construction, transportation, marine, and others are also expected to gain from the impact of this elastomeric coatings market.
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Segmentation of the global elastomeric coating market, as led by MRFR, is based on the type, technology, application, and end-use.
Based on the type, the elastomeric coating market includes acrylic, polyurethane, silicone, polysulfide, and others. The polyurethane segment is gaining substantial advantage as it is in high demand from the consumer goods. Shoes, bags and other lifestyle products are getting made out of this material for durability and water-resistance properties.
Based on the technology, the elastomeric coating market comprises water-borne, solvent-borne, and radiation cured. The water-borne segment is gaining precedence to provide eco-friendly measures, which are in high demand in countries from Europe and North America.
Based on the application, the elastomeric coating market consists wall, roof, floor, and others.
Based on the end-user, the global elastomeric coatings market comprises residential, commercial and industrial. The industrial segment is achieving prominence with the growing need for better protective initiatives to make manufacturing instruments last long.
Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa (MEA) are five regions in which the global elastomeric coatings market has been segmented by MRFR for a region-specific analysis.
The APAC market has the dominance and it is expected to fetch the largest revenue in the coming years. The regional growth is depending much on the industrialization and urbanization that’s are taking place in the region. Several countries are making infrastructural developments and they are India, Japan, South Korea, and China.
North America is second only to Asia Pacific. The U.S. has the largest market share and it is due to the steady rise in the intake of the elastomeric coating materials, and also in reconstruction, marine, and automotive activities. In Europe, the market has significant hold over countries like Germany, the U.K., France, and Italy as they have substantial hold in the automotive industry, which gives them enough thrust to take the market forward.
Latin America and the Middle East & Africa is expecting growth due to the construction activities that the two regions are witnessing. Countries like Brazil, Argentina, Kuwait, Qatar, the UAE, Saudi Arabia, and others are contributing notably to the market growth.
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Various companies are keen in benefitting from the growing elastomeric coatings market and that is why they are launching several initiatives. These initiatives are expected to solidify their market position and take the global market ahead by creating growth opportunities. These companies, as registered by MRFR, are Clariant (Switzerland), BASF SE (Germany), Jotun A/S (Norway), PPG Industries Inc. (U.S.), BEHR Process Corporation (U.S.), Nippon Paints (Japan), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Dulux Group (Australia), and Rodda Paints (U.S.). The attempt from MRFR’s part is to ensure a proper tracking of trends to understand the future expansion scopes.
In July 2019, RhinoShield, recently launched a new coating technology known as Super Shield that can be used both for exterior and interior of the house. The product is an elastomeric ceramic roof coating that can be applied on walls as well with exterior painters. The product is eco-friendly and non-toxic.
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