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Market Analysis:The Global Elastomeric Coating Market is projected to have a phenomenal growth at a striking CAGR during the predicted years (2017-2022). An elastomer is a polymer which displays the properties of elasticity and is made of silicon, oxygen, hydrogen or carbon. An Elastomer Coating is extremely diverse thus are used in different areas covering insulating environments, protecting shoe soles, covering tires to more. It offers an array of benefits such as glossy finish when utilized with metal, exceptional transparency, excellent chemical, physical resistance, and high solid residue. Generally elastomeric coatings are used to offer tough exterior finish to plastic substrates, metal and concrete. It has a higher film thickness compared to conventional paints and coatings. Surface adhesion, flexibility, toughness and significant elasticity are the chief attributes of elastomeric coatings. Elastomeric Coating is used in different end-use industries namely energy, aerospace, marine, construction, automotive and others. Also, it is used for protecting concrete materials and roof structure from water, dirt, and repellents.
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There are several factors that is propelling the growth of the Elastomeric Coating Market. These factors according to the Market Research Future (MRFR) report include increased need for Elastomeric Coating for residential improvement, lenient and favorable policies made by the government, extensive utilization of water-based products in the key industries, product innovations, growing R&D activities and burgeoning construction industries. On the contrary, fluctuating cost of raw materials may hamper the growth of the Elastomeric Coating Market.
Market Segmentation:
Market Research Future report offers a comprehensive segmental analysis of the Elastomeric Coating Market on the basis of Type, Technology, Application and End User.
Based on Type, it is segmented into polysulfide, silicone, polyurethane, acrylic and others. Of these, acrylic will have the maximum share in the market due to its unique characteristics such as protective coatings and waterproofing.
Based on Technology, the Elastomeric Coating Market is segmented into radiation cured, solvent-borne and water-borne. Of these, water-borne will dominate the market during the predicted years.
Based on Application- it is segmented into floor, roof, wall and others. Of these, wall will have the largest market share owing to its wide use in construction industries.
Based on End Use, the Elastomeric Coating Market is segmented into industrial, commercial and residential.
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Regional Analysis:
Based on Region, the Elastomeric Coating Market covers growth opportunities and latest trends across Asia Pacific, North America, Europe, Latin America and Middle East and Africa. Of these, Asia Pacific will have lion’s share in the market owing to the leading edge that the region has achieved in urbanization and industrialization. Moreover, the government in the APAC region are focusing heavily on infrastructural development. China, South Korea, Japan and India are the key contributors in this region. Asia Pacific is followed by North America. The US is the biggest contributor owing to steady increase in the utilization of these materials chiefly in automotive industries, marine and reconstruction activities. Europe will have a favorable share in the market with Italy, France, the UK and Germany being the key contributors owing to burgeoning demand for elastomeric coating from automotive industries. On the other hand, the Elastomeric Coating Market in the Middle East and Africa and Latin America will have a steady growth during the predicted years. Here the pacifying economic condition is expected to fuel the growth of the market. In the Middle East and Africa and Latin America, the Elastomeric Coating will contribute greatly to the market growth due to the rising need of elastomeric coating from the construction industry.
Competitive Analysis:
The Elastomeric Coating Market is competitive and fragmented with the existence of many small and large players operating in creation and development of products. The key players are competing with one another on the basis of innovation, production, price and quality. The market is anticipated to expand at a significant pace that may attract new players to the market thereby resulting in strong competition during the future. The manufacturers operating in this market are actually struggling in responding to the increase in demand for elastomeric coating from aerospace, construction, automotive and others sectors. They ensure in delivering products of the finest quality based on best practices, solutions and innovative technologies.
Key Players:
Leading players profiled in the elastomeric coating market include Rodda Paints (U.S.), Nippon Paints (Japan), The Valspar Corporation (U.S.), Dulux Group (Australia), BEHR Process Corporation (U.S.), The Sherwin-Williams Company (U.S.), Jotun A/S (Norway), PPG Industries Inc. (U.S.), Clariant (Switzerland), and BASF SE (Germany).
Oct 2018 - Dow of late showcased its expertise in the elastomer support, service and innovation in Friedrichshafen, Germany at the Fakuma International Trade Fair for Plastics Processing. During this fair the company showcased their expanded elastomer capabilities and technology platforms including the industry-leading range - SILASTIC fluorosilicone and silicone rubber technologies.
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