The elastomeric coatings market had global sales of US$ 10.7 billion in 2021. The anticipated market growth from 2022 to 2032 is anticipated to be slightly higher than the increase in the past, at 16.9%. The category with the largest anticipated revenue growth is acrylic-based elastomeric coating, which is anticipated to expand at a CAGR of approximately 19.8% from 2022 to 2032.
For coating reasons, acrylic elastomeric coatings are applied to plastic vehicle parts. The automobile industry is anticipated to use these coatings even more throughout the course of the forecasted period as a consequence of their essential properties, which include excellent thermal resistance, uniform surface distribution, and superior finishing. Due to their inertness and superior colour retention when exposed to outside environments, acrylic elastomeric coatings are widely employed in the architecture and construction industries.
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Market Titans
- BASF SE
- Sherwin Williams Company
- PPG Industries
- Teknos Group
- Huntsman Corporation
- The DOW Chemical Company
- Axalta Coating Systems LLC
- The Valspar Corporation
- Kansai Nerolac Paints Limited
- Progressive Paintings LLC
- Nippon Paints
- Rodda Paints
Recent Developments
Some of the recent developments of key Elastomeric Coating providers are as follows:
- In February 2021, PPG acquired Versa Flex from DalFort Capital Partners. For industrial flooring, transportation infrastructure, and water and wastewater infrastructure, Versa Flex specializes in polyurethane, epoxy, and polyurethane coatings.
- In May 2021, PPG announced that it has completed the acquisition of Worwag, a significant manufacturer of coatings used in both industrial and automotive applications. The company specializes in producing powder, liquid, and film coatings that are environmentally friendly.
- In January 2019, the coatings division of BASF will purchase the vehicle paint detackification business of Polymer Ventures, Inc. as well as all of the stock of Galaxy Chemical Corporation.
Key Takeaways from the Study
- Elastomeric Coatings Market was valued at US$ 10.7 Bn in 2021. According to Fact.MR, Elastomeric Coatings Market revenue would increase 4.7X between 2022 and 2032, reaching roughly US$ 56.6 Bn in 2032.
- In terms of Product Type, Acrylic elastomeric coatings is projected to account for the highest projected CAGR of over 19.8%.
- In terms of application, Wall Coatings account for the highest CAGR of 15.2% during 2017-21.
- US is the dominant country in the Elastomeric Coatings Market with an absolute dollar growth opportunity of over US$ 16.9 Bn.
Industry Structure
- By Product Type :
- Acrylic
- Polyurethane
- Silicon
- Butyl
- Other Types
- By Application :
- Wall Coatings
- Floor/Horizontal Surface Coating
- Roof Coating
- Other Applications
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
The key revenue drivers of the Elastomeric Coatings Market are an increase in the manufacture and sales of car parts with elastomeric coatings to stop corrosion in the automotive industry, and the quest for odorless coatings that use safe chemicals. Besides, environmental regulations governing VOC emissions and dangerous air pollutants have also raised the demand for sophisticated coatings, such as elastomeric coatings.
Key Questions Covered in the Elastomeric Coatings Market Report
- What is the projected value of the Elastomeric Coatings Market in 2023?
- At what rate will the global Elastomeric Coatings Market grow until 2033?
- Which are the factors hampering the growth in the Elastomeric Coatings Market?
- Which region is expected to lead in the global Elastomeric Coatings Market during 2023 to 2033?
- Which are the factors driving the Elastomeric Coatings Market during the forecast period?
- What is the expected market value of the Elastomeric Coatings Market during the forecast period?
What makes Fact.MR report stand out from others?
Fact.MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
• Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the market, thus, making it different and special from other reports.
• Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
• Overcome: The report scrutinizes on points that can prove to be an achilles heel to the market and assists to create strategies to overcome the obstacles that may hinder the growth of the market.
• Leverage: The market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
• Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
• Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the market.
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