by Elastomeric coatings are protective and decorative coatings used on rooftops, walls, concrete structures, and plaster to provide protection from weathering effects such as rain, sunlight, pollution, and extreme temperature fluctuations. They protect buildings and infrastructure from degradation and extend their useful life. The global construction industry has witnessed strong growth over the past decade, especially in developing regions of Asia Pacific, Middle East, and Latin America. There is an increasing need for maintenance and renovation of existing buildings and new construction activities to accommodate the growing population.
The global Elastomeric Coating Market is estimated to be valued at US$ 21,526.2 million in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing construction industry has significantly driven the demand for elastomeric coatings over the past few years. According to data from Oxford Economics, the total construction output across major global economies is expected to grow annually by 3.9% until 2030. The Asia Pacific region alone will contribute 38% of the total global construction growth during this period. Much of this growth will come from China, India, and various Southeast Asian countries undertaking large-scale infrastructure projects and construction of residential and commercial buildings. The increasing construction spending on new projects as well as maintenance and renovation of existing structures will continue boosting the elastomeric coatings market during the forecast period.
SWOT Analysis
Strength: Elastomeric coatings provide high flexibility and crack resistance which protects buildings from excessive weathering. They have long-lasting properties and can withstand extreme temperatures.
Weakness: Elastomeric coatings are more expensive than normal paints. Their application process requires trained professionals for proper surface preparation and application.
Opportunity: Growing construction industry in developing countries increases the demand for protective and weather-resistant coating solutions for buildings. Rapid infrastructure development worldwide opens new areas of application.
Threats: Stringent environmental regulations around VOC emissions during coating production act as a challenge. Fluctuations in raw material prices can increase the overall costs.
Key Takeaways
The Global Elastomeric Coating Market Size is expected to witness high growth. The global Elastomeric Coating Market is estimated to be valued at US$ 21,526.2 million in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031.
Asia Pacific region dominates the market currently due to rapid infrastructural developments in countries like China and India. The region’s share is estimated to increase further over the forecast period supported by increasing construction spending. North America is another major market for elastomeric coatings owing to well-established construction industry and stringent building codes mandating the use of weatherproofing solutions. Major Players like BASF, PPG Industries, Sherwin-Williams extensively promote the benefits of elastomeric coatings in the commercial construction sector which is driving higher product adoption.
Key players operating in the Elastomeric Coating market are Stryker, Olympus Corporation, Integra LifeSciences, Sring GmbH, Biomedicon Systems India Pvt Ltd, Xcellance Medical Technologies, MISONIX, Inc., Cybersonics, Inc., Meta Dynamic, Inc., InnoSound Technologies, Inc. These companies focus on new product launches and capacity expansions to meet the growing demand and strengthen their market position. Partnerships with construction firms ensure continuous business opportunities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
