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Elastomeric coating is a high-grade coating that is specially designed for exterior roof or wall coating and is nearly 10 times thicker than paint. It forms an extremely thick but flexible coating which helps to waterproof a structure's exterior. It is an ideal material for use on surfaces such as masonry, concrete, stucco, and more. These coatings help protect these surfaces from wind driven rain, and can generate a waterproof system. Besides providing a structure with a waterproof protective coating, it also protects the structure against damage.
An increasing adoption of elastomeric coating owing to its benefits such as resistance to solvents and microorganisms, good resistance against cracking, chalking, peeling, blistering, and flaking, strong adhesion strength, superior performance and many others is major driving factor behind the growth of the market. Likewise, factors such as a surge in the demand for energy-efficient roof systems, rising attractiveness of tilt-up concrete in building & construction, rapidly growing construction industry across the globe, increasing demand for waterproof, strong and thick wall and roof coating solutions, and increasing renovation of the existing homes and offices are expected to improve growth of the market during the forecast period.
Nevertheless, high cost of elastomeric coating than other conventional paints is major restraining factors that could hamper the market growth.
The study analyses global elastomeric coating market based on type, technology, application and geography.
Based on type, acrylic segment dominated the market in the past few years and is expected to maintain its dominance at high growth rate during the forecast period. Acrylic is a cost-effective, water-based solution for a variety of roofs and walls. They provide the best value and are suitable for most climates. The growing use of acrylic coating as it provide an excellent balance of performance and cost, high reflective quality, and UV resistance quality is accredited to the growth of the market.
Based on technology, solvent-borne elastomeric coating segment is expected to dominate the market. The solvent-based elastomeric coatings provide higher elongation and tensile strength than water-based elastomeric coatings. An increased use of solvent-based elastomeric coatings technology for the roof coating application is fueling the growth of the market.
Based on application, wall coating segment is projected to witness fast growth during the estimated timeframe. An increasing adoption of elastomeric coating for wall coating application owing to its superior waterproofing and elongation properties is attributed to the growth of the market. On the other hand, roof coating fastest growing segment of the market and is likely to hold second-largest market share. The factors such as growing population across the globe, growing investment in the construction industry and rising construction projects are flourishing the market growth.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share of global elastomeric coating market and is likely to dominate the market over the estimated time frame. The economies such as the US and Canada dominated the market. Improved lifestyle of the people, increasing investment on the building and construction industry, presence of various leading market players, and rising renovation of the existing infrastructure are some of the major contributing factor behind the market growth across the NA region. Alternatively, Asia Pacific is likely to witness fast growth in the coming years. This is owing to increasing population of the countries such as China, India, rising industrialization and urbanization and improving lifestyle of the people.
The major key players of market includes Akzo Nobel NV, Asian Paints Limited, Axalta Coating Systems LLC, BASF SE, Dow, Henry Company (American Securities LLC), Jotun, Kansai Nerolac Paints Limited, Nippon Paints, PPG Industries Inc, Progressive Paintings LLC, Rodda Paint Co, Sika AG and The Sherwin Williams Company among others.
The study analyses global elastomeric coating market based on type, technology, application, and geography. Elastomeric Coating market by type is segmented into acrylic, butyl, polyurethane, silicone, and others. The acrylic segment is likely to dominate the market over the forecast period. Increased adoption of acrylic coating in fresh packaging construction industry owing to its several benefits is attributed to the market growth. By technology, the market is segmented into water-borne elastomeric coating and solvent-borne elastomeric coating. The market finds application in wall coating, floor coating, roof coating, built up roofing, and others. The wall coating and roof coating segment is likely to register fastest growth in years to come owing to the growing construction projects across the globe and increasing significance of elastomeric coating. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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