Elastomeric coatings are generally used to provide tough exterior finish to concrete, metal, and plastic substrates. These coatings are widely applied on masonry wall surfaces and roof tops such as concrete tiles, blocks, stucco, and other exterior insulation finishes. Elastomeric coatings have a greater film thickness in comparison with conventional paints & coatings. Significant elasticity, toughness, flexibility, and surface adhesion are some of the key attributes of elastomeric coatings. These coatings are usually applied as double coats so as to prevent cracking of coating film as well as the substrate underneath. Moreover, elastomeric coatings can be suitably applied on plastic surfaces of automotive body components, as they are highly durable and keep the aesthetics unaltered. Acrylic, polyurethane, polysulfide, butyl, silicone, and vinyl polymers are the key elastomeric coatings available in the global market. Additionally, waterborne, solvent-borne, and high solids/radiation cured systems are the key technology segments of the global market. Building & construction, automotive, and textile were the major end-users of the global elastomeric coatings market in 2015.

Global demand for elastomeric coatings is currently driven by its growing usage in the building & construction industry. Building & construction has been the largest end-user of elastomeric coatings since the past few years. Elastomeric coatings are employed for bridging the cracks formed on exterior concrete walls, roof tops, and stucco, thus preventing water from penetrating into the interior constructed walls. Furthermore, these coatings provide resistance from settling of dirt, dew formation, and are stable under varying climatic conditions such as acid rain. Acrylic, silicone, and polyurethane polymers are the frequently used elastomeric coatings in the building & construction industry. These polymers have high surface tension that cause beading of water droplets and stop them from entering the interior concrete layers. Apart from concrete substrates, elastomeric coatings are suitably applied on infrastructure steel rebar. Steel is highly hydrophilic, which increases the chances of corrosion and carbonation when in contact with moisture and heat. Due to the hydrophilic nature of steel, elastomeric coatings are preferred due to outstanding durability and excellent metal adhesion. Owing to the exclusive utility of elastomeric coatings, the building & construction industry is estimated to boost the demand for elastomeric coatings by the end of 2024. Recent expansion of the automotive industry in developing regions such as Asia Pacific and Latin America is another demand driving factor of the global elastomeric coatings market. Acrylic, polyurethane, and vinyl polymers are the key elastomeric coatings consumed for coating applications in automotive plastic components. Excellent thermal resistance, uniform surface distribution, and improved finishing are the chief characteristics of these coatings, due to which they are expected to be further utilized in the automotive sector during the forecast period.

Fluctuation in prices of raw materials, especially coating resins, is likely to stifle the market for elastomeric coatings in the years ahead. However, rising structural flexibility requirements for electrical wire coatings are projected to provide significant growth opportunities to the global elastomeric coatings market by the end of 2024.

In terms of volume, Asia Pacific is expected to constitute the largest share of the global elastomeric coatings market by the end of 2024. China, India, and ASEAN countries are likely to witness high demand for elastomeric coatings during this period. Dense population and broad consumer base coupled with growing building & construction and automotive end-user markets are the key driving factors for elastomeric coatings demand. Demand for elastomeric coatings in North America and Europe is anticipated to witness a stabilized growth rate during the forecast period, due to stringent government regulations over VOC emissions from coatings and saturated end-user markets. Middle East & Africa is anticipated to witness firm growth in the elastomeric coatings market due to consumption of elastomeric coatings due to a flourishing building & construction market especially in GCC countries. Latin America is likely to witness the fastest growth in terms of demand, due to rising consumption of elastomeric coatings in the regional automotive sector, by the end of 2024.

BASF SE, The Dow Chemical Company, The Sherwin-Williams Company, PPG Industries, Inc., The Valspar Corporation, Clariant AG, BEHR Process Corporation, Jotun A/S, and Dulux Australia are some of the elastomeric coatings manufacturers currently operating in the global market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Elastomeric Coatings Market

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