According to a newly released Fact.MR analysis, the Elastomeric Coatings revenues were expected to be US$ 10.7 Bn in 2021 and are projected to increase at a CAGR of 13.2% from 2022 to 2032. The market is anticipated to be worth $56.6 billion by the end of 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 color retention when exposed to outside environments, acrylic elastomeric coatings are widely employed in the architecture and construction industries.
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Key Takeaways from the Study
- In 2021, the market for elastomeric coatings was worth US$10.7 billion. The Elastomeric Coatings Market sales would rise 4.7X between 2022 and 2032, reaching over US$ 56.6 Bn in 2032, predicts Fact.MR.
- Acrylic elastomeric coatings are anticipated to have the highest predicted CAGR of over 19.8% in terms of Product Type.
- The application with the largest CAGR between 2017 and 21 is wall coatings, at 15.2%.
- The US is the market leader for elastomeric coatings, with a total opportunity for dollar growth of approximately US$ 16.9 billion.
Competitive Landscape
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 Companies Covered
- 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
Elastomeric Coatings Industry Segmentation
- 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.
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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?
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Elastomeric Coatings Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Elastomeric Coatings in terms of Product Type (Acrylic, Polyurethane, Silicon, Butyl, Other Types), Application (Wall Coatings, Floor/Horizontal Surface Coating, Roof Coating, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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