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Elastomeric Coating Market Size

Report ID: GMI8636
Published Date: Mar 2024
Report Format: PDF

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Elastomeric Coating Market Size

Elastomeric Coating Market was valued at around USD 8.7 billion in 2023 and is anticipated to register a CAGR of over 12.3% between 2024 and 2032.

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The elastomeric coating industry is mainly driven by the construction industry's growing desire for environmentally friendly and energy efficient building solutions. Elastomeric coatings have superior waterproofing properties, crack-bridging capabilities, elongation, and UV resistance, making them ideal for protecting exterior surfaces like roofs, walls, and facades from harsh weather conditions such as heavy rainfall, temperature fluctuations, and UV radiation.

Furthermore, these coatings can increase building thermal efficiency by limiting heat transfer and air leakage, resulting in decreased energy usage for heating and cooling. With increased awareness of environmental sustainability and stringent regulations encouraging energy-efficient construction practices, demand for elastomeric coatings is expected to rise as architects, contractors, and building owners seek long-lasting, cost-effective solutions to improve building performance and longevity while reducing environmental impact.

Elastomeric Coating Market Report Attributes
Report Attribute	Details
Base Year:	2023
Elastomeric Coating Market Size in 2023:	USD 8.7 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	12.3%
2032 Value Projection:	USD 24.9 Billion
Historical Data for:	2018 - 2023
No. of Pages:	300
Tables, Charts & Figures:	250
Segments covered:	Type, Technology, End-use Industry
Growth Drivers:	Increasing construction activities Rising demand for energy-efficient coatings Growing awareness about sustainable building materials Advancements in coating technologies
Pitfalls & Challenges:	Volatility in raw material prices Stringent environmental regulations Competition from alternative coating technologies

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The volatility of raw material costs has a substantial impact on the growth of the elastomeric coating industry. Price fluctuations in essential raw materials including acrylics, polyurethanes, and silicones can have a negative influence on elastomeric coating producers' production costs and profit margins. This volatility frequently causes difficulties in pricing forecasting, supply chain management, and overall company planning, impeding investment choices and expansion ambitions in the sector. Furthermore, abrupt increases in raw material prices may result in increased product costs, diminishing elastomeric coatings' competitiveness against alternative options and thus limiting market growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for elastomeric coating was USD 8.7 billion in 2023 and is expected to register over 12.3% CAGR from 2024-2032 owing to the construction industry's growing desire for environmentally friendly and energy efficient building solutions worldwide.

Elastomeric coating industry from the acrylic segment recorded USD 3.3 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their abilities such as, excellent flexibility, adhesion, and UV resistance, making them suitable for shielding outdoor surfaces.

Asia Pacific industry reached USD 2.9 billion in 2023 and is expected to register a commendable CAGR from 2024-2032 due to rapid urbanization and infrastructure growth in countries like as China, India, and Southeast Asia.

Benjamin Moore & Co., Dulux Group Limited, Gaco, Hempel A/S, Jotun Group, Nippon Paint Holdings Co., Ltd., Nouryon, PPG Industries, Inc., Sika AG, The Dow Chemical Company, and The Sherwin-Williams Company, are some of the major elastomeric coating companies worldwide.