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Market Overview:
The Elastomeric Coatings Market is projected to grow to $20.4 billion by 2030, expanding at a CAGR of 12.7% during the forecast period of 2024-2030. This market growth is driven by increasing demand for thermoplastic elastomers such as acrylic coatings used in roofing, wall coverings, and other construction applications. The rise in global construction activities, particularly in regions like Asia-Pacific, and the expansion of the automotive sector are key contributors to this market surge.
Regional Insights:
The Asia-Pacific (APAC) region is expected to dominate the elastomeric coatings market with over 35% market share in 2023. The region's rapid urbanization and growing infrastructure development in countries such as China, India, and South Korea are major factors contributing to the rise in demand for elastomeric coatings. Government initiatives like India's "Housing for All" program and the growth of green building projects are boosting the market outlook.
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Scope of the Report:
Recent Developments:
• In March 2023, Gaco™, a brand within Holcim Building Envelope, launched the GacoFlex A48 acrylic roof coating, the first high-build, single-component acrylic roof coating that can be applied in a single pass up to 80 wet mils.
• In January 2022, Sun Chemical acquired SAPICI, a global leader in high-performance polyurethanes for coatings, adhesives, and flexible packaging applications, aiming to expand its footprint in the industrial coatings sector.
Elastomeric Coatings Market: Competitive Landscape
The Elastomeric Coatings market is competitive, with key players focusing on product innovation, strategic partnerships, and geographical expansion. Major companies include: BASF SE, The Dow Chemical Company, PPG Industries, Inc., The Sherwin-Williams Company, Valspar Corporation, Clariant AG, Jotun A/S, Asian Paint Limited, BEHR Process Corporation, Dulux Australia.
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