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Elastomeric Coating Market Trends

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

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Elastomeric Coating Market Trends

One major trend in the elastomeric coating industry is an increased emphasis on environmentally friendly and sustainable formulations. With rising environmental consciousness and severe regulations, there is a trend toward elastomeric coatings with low VOC (volatile organic compound) content, lower environmental effect, and increased durability. Manufacturers are spending in R&D to produce bio-based elastomers and waterborne formulations that fulfill sustainability and performance standards. Additionally, there is a growing need for cool roof coatings with reflecting qualities, which contribute to energy efficiency and reduce the urban heat island effect. These developments demonstrate the industry's dedication to addressing environmental issues while also satisfying consumers' growing expectations for long-lasting, high-performance elastomeric coatings.

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.