Elastomeric comes from the term an elastomer. The elastomer can be defined as a polymer having viscosity along with elasticity and fragile inter-molecular forces. It is a rubber-like polymer that shows its elasticity property at the time of loading. It is also one of the coatings used in roof coating. It is widely used for the purpose of repairing and to extend the life of the roof or the surface on which it is applied. Heating and cooling of roof surfaces cause cracks and weakening of the surface. Thus, elastomeric coating expands and contracts, resulting in an extraordinary protection in any season throughout the year.
On the basis of end-user, the global elastomeric coatings market is segmented as industrial, textile, marine, and others. Based on the technology used, the global market is segmented as water-borne and solvent-borne coatings. On the basis of composition, the global market is segmented as acrylic, silicone, polyurethane, and butyl. Of which, acrylic, silicone, and polyurethane segments are the most dominating segments in the elastomeric coatings market in the building & construction industry. These types of compositions vary irrespective to the technical specification. On the basis of application, the global elastomeric coatings market is further segmented as floor coating, roof coating, wall coating, and others.
Increasing building and constructional projects, high elasticity, crack fixing ability, reliable waterproofing feature, and extraordinary qualities of elastomeric coatings compared to conventional coating methods are some of the factors driving the growth of the global elastomeric coatings market. In addition, the increasing demand for energy-efficient cool roof concept may boost the elastomeric coatings market in the near future. Increasing population and advancements in new technologies related to the coatings may impact the growth the elastomeric coatings market in a positive way. Moreover, growing awareness of elastomeric coating process in the construction sector, fairly priced, easy handling and reliable performance are the leading growth factors driving the global elastomeric coatings market around the world.
North America is leading player in the global elastomeric coatings market. High demand in Asia Pacific is anticipated to be the major growth driver of elastomeric coatings market. In addition, increased industrial production of elastomeric coatings of raw materials in China also boosts the growth of the market in Asia Pacific. Furthermore, Europe is anticipated to witness a steady growth owing to the stringent government regulations over VOC emissions from coatings and saturated end-user markets. The Middle East and Africa is expected to experience considerable growth in the elastomeric coatings market in the near future.
Some of the major plays dominating the elastomeric coatings market are Henry Company, The Dow Chemical Company, Nippon Paints, The Sherwin-Williams Company, BASF SE, PPG Industries, Inc., The Valspar Corporation, Clariant AG, Jotun A/S, and Dulux Australia. Other key players influencing the global market are Rodda Paints, 3M, Univar Inc., BEHR Process Corporation, Progressive paints, and Axalta Coating Systems LLC.
Elastomeric Coatings Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa