Polymer Modified Cementitious Coatings Market size is anticipated to grow at a significant rate over the projected time period due to rising product demand from construction industry mainly in the emerging nations. Rising investment by the government in the major infrastructure projects in Latin America and Asia Pacific is expected to boost the overall polymer modified cementitious coatings market growth in the coming years. The product is a dual component, thixotropic coating which protects concrete and steel components from corrosion. They contain cement as the primary substrate which holds on to the surface using a polymer mixture which provides high adhesion to cement and steel substrates. Moreover, the product is also applicable for waterproofing in roofs and decks, protection of highways and coastal structures to increase the durability of concrete.
Growing population in Asia Pacific and the Middle East is boosting residential construction activities which is projected to drive product demand as it is widely applicable as a waterproofing agent. For instance, the residential construction is rapidly growing in India owing to rising income and government focus on affordable housing for all. The housing sector in India contributed more than 5% of India’s total GDP. Moreover, housing sector in India is likely to grow at a CAGR of 11.2% during the period of 2008-2020.
Fluctuating raw material prices and low shelf life of the product may hinder the overall polymer modified cementitious coatings market growth in the forecast time period. However, growing product demand from construction sector and its excellent protective properties will generate sufficient opportunities for the market growth in the upcoming years.
Based on types, polymer modified cementitious coatings market is classified into acrylic polymers and SBR latex. There are various types of acrylic polymers such as high solid acrylic polymers, non-aqueous dispersions acrylic polymers, hydroxyl-functional acrylic resin crosslinked with amino resins, acrylic polymers with methylol acrylamides and thermoplastic acrylic polymers. Acrylic polymers segment is anticipated to witness significant growth as compared to SBR latex polymer over the projected time period due to its use growing use in architectural applications.
Based on application, polymer modified cementitious coatings market is segmented into residential buildings, public infrastructure and non-residential buildings. In residential sector product is used in construction of exterior walls, sidewalks & driveways and floorings whereas in public infrastructure it is used in construction of roads & bridges, pipe coatings, stadiums and parking structures. The residential construction industry is growing and experiencing tremendous changes due to economic growth which is shifting towards Asia Pacific. Low interest rates and growing migration towards urban areas will contribute significantly to residential construction activities which will boost product demand and thus resulting in driving the overall market size by 2025.
Asia Pacific market is anticipated to witness highest gains in the forecast timeframe. The market can be attributed to rising demand for houses, industrial offices, educational offices, commercial buildings, hospitals, etc. Growing awareness about waterproof coatings due to increased prevalence of adverse climatic conditions such as heavy rainfall, cyclones, increased moisture in air across the coastal areas, etc. will also be a key factor in driving the overall polymer modified cementitious coatings market size by 2025. Furthermore, the recovering of real estate sector in North America and Europe due to rising renovation activities with an aim to achieve energy efficient buildings is expected to have a positive impact on the product demand and thus a significant boost in the overall market size by 2025.
Growing demand for residential complex, commercial spaces along with retail and hospitality is expected to boost the infrastructure industry in Middle East & Africa and Latin America countries. According to Americas quarterly, China has invested more than USD 140 billion since 2005 in Latin America to develop its infrastructure, transport, electricity generation and local manufacturing industries. These trends will drive the overall product demand and thus will help in achieving promising gains to the overall polymer modified cementitious coatings market size by 2025.
Key industry players associated with polymer modified cementitious coatings market share are Arkema, AkzoNobel N.V., BASF SE, Celanese Corporation, Mapei S.p.A., The Lubrizol Corp., Fosroc International Ltd., The Dow Chemical Company, Pidilite Industries Ltd., etc.
The above information has been provided for the following regions and countries: