Elastomeric Coating Market- Competitive Landscape:
The Elastomeric Coating Market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Elastomeric Coating Market is set to grow at a significant rate which is likely to attract many newcomers to the market resulting into strong competition in the future. Manufacturers operating in the elastomeric coating market are struggling to respond to an increase in demand for the product from automotive, construction & buildings, aerospace, and other sectors attributed to growing production capacity in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.
Industry/ Innovation/ Related News:
May 22, 2017 – PPG Industries, Inc (U.S.), one of the leading producers of elastomeric coating, declared that the company has developed a new product called PPG Paints PERMA-CRETE® PITT-FLEX® elastomeric coating for end-use applications. This product was produced to counteract exceptional dirt resistance and developed a flexible bond to hinder the formation of hairline cracks. One of the sources of the company also announced that the product can be utilized in low temperature applications. Therefore, these factors are expected to drive the market over the assessment period.
January 19, 2017 – The Sherwin-Williams Company (U.S.), one of the leading producers of elastomeric coating, declared that the company has created a new product called SuperDeck Deck & Dock Elastomeric Coating for rough or damaged surfaces. This product was known for semi-transparent, semi-solid and solid colour stains. One of the sources of the company also announced that the product can be utilized in a wide range of applications. Therefore, these factors are expected to drive the market over the assessment period.
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Elastomeric Coating Market – Market Overview:
The Global Elastomeric Coating Market is growing with the instantaneous pace; mainly due to the burgeoning construction industries. According to a recent study report published by the Market Research Future, the global market of Elastomeric Coating is prospering and expected to gain strong influence over the forecast period. The market is estimated to demonstrate a remarkable growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the forecasted period (2017 – 2022).
Globally, the market for Elastomeric Coating is driven by the region Asia Pacific, owing to growing consumption of the product for exterior masonry surfaces such as concrete, stucco, and concrete block. This type of coating is used in coolers, freezers, and cryogenic units due to advantages offered by the product such as protective and water-proof characteristics. Additionally, acryl elastomeric coatings are utilized in various applications such as wall, flooring, and roofing.
Increasing demand for the product in applications such as tilt-up concrete, roofing structures, and others signifies the growth of construction industries. Moreover, growing consumption of product due to unique features offered by the product such as thermal, chemical along with UV resistance provide a boost to the Elastomeric Coating Market growth.
On the other hand, extensive use of water-based products in major industries is projected to propel the market growth during the forecast period.
Elastomeric coatings are used in various end-use industries such as automotive, construction & buildings, marine, aerospace, energy, and others. They are also utilized to protect the roof structures and concrete materials from dirt, repellents and water. The growing demand of these coatings has prompted the manufacturers and investors to shift their focus from solvent-borne to water-based products in end-use applications. Additionally, the growing research & development activities and innovations of the product in the established companies have resulted into a remarkable growth in the market during the forecast period.
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