Polymer Modified Cementitious Coating Market: Introduction
- Polymer modified cementitious coating is a dual component, thixotropic coating, which protects concrete and steel components from corrosion. It contains cement as the primary substrate, which sticks to the surface using a polymer mixture. The polymer mixture provides high adhesion to cement and steel substrates. Polymer modified cementitious coating is also used for waterproofing roofs and decks, and protection of highways and coastal structures to increase the durability of concrete.
- Polymer modified cementitious coating market is anticipated to expand at a rapid pace during the forecast period due to high product demand from the construction industry. Increase in investments by governments of Latin America and Asia Pacific countries in major infrastructure projects is expected to drive the polymer modified cementitious coating market.
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Key Drivers of Polymer Modified Cementitious Coating Market
- Growing population in Asia Pacific and the Middle East is fueling residential construction activities. This, in turn, is likely to drive the demand for polymer modified cementitious coatings, as it is used as a waterproofing agent. Residential construction activities are rapidly growing in India due to rising income and government focus on affordable housing for all. In 2018, the housing sector in India accounted for more than 5% of the country’s GDP. Thus, construction of residential buildings in India is propelling the polymer modified cementitious coating market.
- Rapid urbanization and industrial revolution have also boosted the growth of the global polymer modified cementitious coating market. Expansion of the architectural sector, along with construction and building is also driving the global polymer modified cementitious coating market. In developing countries, increase in investments in the infrastructure sector is boosting the growth of the polymer modified cementitious coating market.
- Expansion of the commercial real estate in developing economies due to increase in construction of commercial buildings is expected to drive the polymer modified cementitious coating market, as it is widely used for external protection of buildings from weatherization
Fluctuating Raw Material Prices to Hamper Market
- The shelf life of polymer modified cementitious coatings is 3 years to 5 years, which is expected to restrain market growth. Moreover, fluctuations in prices of raw materials is a major challenge for the market.
Key Market Segments
- In terms of type, the acrylic polymer segment is expected to hold a major share of the global polymer modified cementitious coating market due to increase in the use of the product in architectural application. Acrylic polymers are available in different sub-types, including thermoplastic acrylic polymers, acrylic polymers with methylol acrylamides, hydroxy-functional acrylic resins crosslinked by amino resins, and others for a wide range of application industries.
- Based on application, the residential buildings segment is anticipated to account for a major share of the polymer modified cementitious coating market, owing to increase in construction activities globally
Asia Pacific to hold Major Share of Global Polymer Modified Cementitious Coating Market
- Asia Pacific is expected to be account for a major share of the global polymer modified cementitious coating market, owing to advanced infrastructure, and increasing demand for residential buildings and public infrastructures
- In developing countries, such as China and India, increased investments in research and development, along with government policies, awareness about green technology, and high adoption of architectural applications are driving the polymer modified cementitious coating market in these countries
- This market in Asia Pacific is expected to expand rapidly due to rise in demand for coatings in non-residential real estate, residential real estate, and public structures applications in China, India, and South Korea
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Key Players Operating in Global Market
The global polymer modified cementitious coating market is highly concentrated with top manufacturers accounting approximately 30-40% of the market share. Some of the key players operating in the global polymer modified cementitious coating market include
- BASF SE
- Mapei S.p.A.
- AkzoNobel N.V.
- The Lubrizol Corporation
- Celanese Corporation
- The DOW Chemical Company
- Fosroc International Limited
- Pidilite Industries Limited
Global Polymer Modified Cementitious Coating Market: Research Scope
Global Polymer Modified Cementitious Coating Market, by Type
- Acrylic Polymer
- SBR Latex
Global Polymer Modified Cementitious Coating Market, by Application
- Residential Buildings
- Commercial Buildings
- Public Buildings
Global Polymer Modified Cementitious Coating Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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