23.08.2016, 17:45
Elastomeric Coating Market by Type, Technology, Application
OREANDA-NEWS. Elastomeric Coating Market by Type (Acrylic, Polyurethane, Silicone, and Butyl), Technology (Waterborne and Solventborne), Application (Wall Coatings, Floor/ Horizontal Surface Coatings, and Roof Coatings) - Global Forecast to 2021..., Market Research Report: MarketsandMarkets.
The global elastomeric coating market is projected to reach USD 13.58 Billion by 2021, registering a CAGR of 15.19% between 2016 and 2021.
The global elastomeric coating market, along with its types and applications, witnessed a significant growth in the past few years and is estimated to continue in the coming years. An increase in demand from the construction industry because of its superior performance and elongation property is driving the global elastomeric coating market.
Most of the elastomeric coating manufactured is waterborne due to the government regulations to decrease the level of VOC in the environment.
The different types of elastomeric coating considered in the report are acrylic, polyurethane, silicone, and butyl. Acrylic is currently the dominant type in the elastomeric coating market, and it is estimated to witness the highest CAGR between 2016 and 2021. The rising demand for elastomeric coating is driven by increasing demand from the construction industry in Asia-Pacific and other developing regions. Its demand is also increasing because it offers unique properties such as protective and waterproofing coatings.
On the basis of application, elastomeric coatings are classified into wall coatings, roof coatings, floor/horizontal surface coatings, and others. In 2015, the wall coatings application accounted for the largest market share, in terms of value. The segment is driven by the demand for waterproofing and its elongation property, from the growing population, especially in China, the U.S., and India.
Currently, the North American region is the largest consumer of elastomeric coating and is estimated to register a high CAGR. The countries, such as the U.S., Canada, and Mexico are expected to lead the North American elastomeric coating market, with the U.S. having the largest share in the regional volumetric consumption of elastomeric coating. The high demand in Asia-Pacific is expected to be the major driver of the global elastomeric coating market.
Though the elastomeric coating market is gaining importance, few factors act as a bottleneck toward its growth in the global market. The volatility in raw material prices and restrictions on the use of hazardous chemicals are the major restraints toward the growth of the market.
Henry (California), Dow Corning Corporation (U.S.), Progressive Painting Inc. (U.S.), Sherwin Williams (U.S.), PPG Industries (U.S.), Nippon Paints (U.S.), and Rodda Paints (U.S.) are the leading companies with a strong foothold in the global market. These companies are estimated to account for a significant market share in the future. Entering into related industries and targeting new markets will enable elastomeric coating manufacturers to overcome the effects of volatile economy, leading to diversified business portfolio and increase in revenue.
The global elastomeric coating market is projected to reach USD 13.58 Billion by 2021, registering a CAGR of 15.19% between 2016 and 2021.
The global elastomeric coating market, along with its types and applications, witnessed a significant growth in the past few years and is estimated to continue in the coming years. An increase in demand from the construction industry because of its superior performance and elongation property is driving the global elastomeric coating market.
Most of the elastomeric coating manufactured is waterborne due to the government regulations to decrease the level of VOC in the environment.
The different types of elastomeric coating considered in the report are acrylic, polyurethane, silicone, and butyl. Acrylic is currently the dominant type in the elastomeric coating market, and it is estimated to witness the highest CAGR between 2016 and 2021. The rising demand for elastomeric coating is driven by increasing demand from the construction industry in Asia-Pacific and other developing regions. Its demand is also increasing because it offers unique properties such as protective and waterproofing coatings.
On the basis of application, elastomeric coatings are classified into wall coatings, roof coatings, floor/horizontal surface coatings, and others. In 2015, the wall coatings application accounted for the largest market share, in terms of value. The segment is driven by the demand for waterproofing and its elongation property, from the growing population, especially in China, the U.S., and India.
Currently, the North American region is the largest consumer of elastomeric coating and is estimated to register a high CAGR. The countries, such as the U.S., Canada, and Mexico are expected to lead the North American elastomeric coating market, with the U.S. having the largest share in the regional volumetric consumption of elastomeric coating. The high demand in Asia-Pacific is expected to be the major driver of the global elastomeric coating market.
Though the elastomeric coating market is gaining importance, few factors act as a bottleneck toward its growth in the global market. The volatility in raw material prices and restrictions on the use of hazardous chemicals are the major restraints toward the growth of the market.
Henry (California), Dow Corning Corporation (U.S.), Progressive Painting Inc. (U.S.), Sherwin Williams (U.S.), PPG Industries (U.S.), Nippon Paints (U.S.), and Rodda Paints (U.S.) are the leading companies with a strong foothold in the global market. These companies are estimated to account for a significant market share in the future. Entering into related industries and targeting new markets will enable elastomeric coating manufacturers to overcome the effects of volatile economy, leading to diversified business portfolio and increase in revenue.
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