Global Elastomeric Coating Market is segmented By Type (Acrylic, Polyurethane, Silicone, Butyl, Others), By Technology (Waterborne, Solvent borne), By Application (Wall Coating, Floor/ Horizontal Surface Coating, Roof Coating, Others), By End-User (Residential, Commercial, Industrial), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
[234 pages] Report analyses the Global Elastomeric Coating Market shares, recent trends, and market player analysis. Asia-Pacific dominates the building & construction adhesive market with the growing construction and infrastructure industries in countries like China and India. The Competitive rivalry intensifies with BASF SE, Dow Corning Corporation and Sika AG.
Elastomeric coating is an above-grade exterior roof or wall coating that is around ten times thicker than paint. It forms a thick, flexible coating that helps waterproof the structure. In addition, it can bridge hairline cracks to complete an airtight, waterproof seal, unlike other types of coatings or paints.
Because of its properties are a widely utilized material for use on surfaces such as stucco, masonry, concrete, and others. Moreover, Elastomeric coating is chemical and mildew and can be tinted to several colors and retains its color very well long-term.
There are several types of elastomeric roof coatings, such as acrylic, polyurethane, butyl, or silicone, in which waterborne acrylic coatings are the most popular and widely used on pitched metal roofs.
The rising demand for energy-efficient products to save money and be more eco-friendly is driving the elastomeric coating market as the coating is heat resistant and helps in improving the energy efficiency of the building. In addition, they are UV resistant and essentially act like round-the-clock "sunblock" for the structure.
Market Summary
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Type, By Technology, By End-User and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Market | Asia Pacific |
| Largest Market Share | North America |
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Source: DataM Intelligence Analysis (2021)
Market Dynamics
The rising demand of ‘go green’ and sustainability is driving the elastomeric coating market
There is a growing need to reduce the carbon footprints and 'go green', and thus several regulations introduced by the Environment Protection Agency (EPA) to encourage asbestos in roofing materials. According to the US Green Building Council, Buildings produce pollution both directly and indirectly, representing 39% of carbon dioxide emissions.
Elastomeric coating is heat resistant and helps in improving the energy efficiency of the building. In addition, they are UV resistant and essentially act like round-the-clock "sunblock" for the structure. It offers long-term durability for a building which is essential for many homeowners and business owners.
Recently, a Canadian coating manufacturing company named Weatherskin Corporation has announced that the company will focus on building critical strategic partnerships within the North American construction industry and partnering with other innovative brands to develop green-build systems.
Moreover, in May 2020, Nouryon, a company based in Netherland has launched an elastomeric cool roof coatings solution that boosts the effectiveness of energy-saving coatings by improving their ability to reflect light. The concept combines Nouryon's Levasil® colloidal silica, which improves the performance of the coatings and its Expancel® expandable thermoplastic microspheres, which reflect light. It is said by the company that the coatings can bring down the external surface temperature of a building by as much as 15 degrees Celsius.
Lack of skilled labor is expected to hinder the elastomeric coating market
Elastomeric coating is a cost-effective solution compared to many alternatives and applied in a similar fashion to paint.
However, it is not a job for a novice or DIYer. It requires expertise, knowledge and safety precautions and should only be applied by an experienced professional. The professional will offer their guidance based on on-the-job experience and help in achieving the desired look.
Market Segmentation Analysis
There are several types of elastomeric roof coatings, such as acrylic, polyurethane, butyl, or silicone.
Waterborne, acrylic coatings are the most popular and widely used on pitched metal roofs. It can be economically tinted to any custom color. In addition, it is easy to clean up with water makes it a popular choice for do-it-yourselfers.
Different companies are engaged in manufacturing acrylic-based elastomeric coating and introducing new products. For instance, a US-based company named Inland Coating manufactures RC-1600, a water-based acrylic latex elastomeric coating that cures to form a seamless membrane. Thus, it aids in keeping the roof cool by protecting from ultraviolet rays and other external weather exposures.
Moreover, companies continue to invest in R&D to create advanced elastomeric coatings options based on acrylic. For instance, in January 2020, a US-based company named Mallard Creek Polymers launched Rovene® 6120, an all-acrylic emulsion polymer for highly durable elastomeric roof coatings conforming to ASTM D 6083.
Market Geographical Share
Asia-Pacific dominates the building & construction adhesive market with the growing construction and infrastructure industries in countries like China and India
Asia-Pacific region dominates the global floor adhesives market share with growing construction activities in countries such as China, India and other ASEAN Countries. For instance, the Chinese government has massive construction plans, including making provisions for the movement of 250 million people to its new megacities during the next ten years. As per the National Bureau of Statistics (NBS), real estate investment in China rose 7.0% in 2020 from a year earlier, accelerating from a 6.8% gain in the first 11 months of the year.
In 2017, the Indian government announced an investment worth USD 31,650 billion to construct 100 cities under the smart cities plan. Over the five years, one hundred smart cities and 500 cities are likely to invite investments worth ~USD 28.18 billion. Approximately, 9% of India's GDP is spent on infrastructural services. India's government has given enormous momentum to the infrastructural sector by allocating ~USD 92.22 under the Union Budget 2018-2019.
Hence, with the growing construction activities and infrastructure, elastomeric coating demand is expected to increase over the forecast period rapidly.
Market Key Players
The elastomeric coating market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Sika AG, Henry, BASF SE, Dow Corning Corporation, Progressive Painting Inc., Sherwin Williams, PPG Industries, Nippon Paints, Mallard Creek Polymers, Rodda Paints, Inland Coatings among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the elastomeric coating market globally.
Sika AG
Overview: Sika AG is a multinational Swiss company that supplies specialty chemicals to the building and motor vehicle industries. The company is headquartered in Baar, Switzerland.
Product Portfolio: Sika AG's Sikagard® XT is one-part, high-quality elastomeric coating. It is based on UV curing acrylic dispersion. It offers excellent flexibility, water resistance, crack-bridging properties, weathering durability, and resistance to the growth of microbial organisms.
Key Developments:
- In December 2020, Sika AG expanded its cooperation with CiDRA Concrete Systems Inc., headquartered in Eden Prairie, Minnesota, and completed a growth equity investment agreement to supplement its existing global relationship.
Why Purchase the Report?
- Visualize the composition of the elastomeric coating market segmentation by type, technology, application, end-user and region highlighting the key commercial assets and players.
- Identify commercial opportunities in elastomeric coating market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of elastomeric coating market - level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
The global elastomeric coating market report would provide an access to an approx. 69 market data table, 62 figures and 234 pages.
