ELASTOMERIC

COATING MARKET
Global Market Analysis, Insights,
Trends, and Opportunity Inference,
2017-2024

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Elastomeric coating is higher volume solid as compared to conventional paints. The main
advantage of elastomeric coatings is that it helps secure hairline cracks on the surface. These
coatings tend to stretch on these surfaces and thus, provide basic protection to the applied
surface from external damage. This has propelled the use of elastomeric coatings in the
construction industry. Elastomeric coatings are used extensively on mineral surfaces which
develop cracks due to temperature variation. Elastomeric coatings offer numerous advantages
such as high solid residue as compared to paints, excellent physical and chemical resistance,
and exceptional transparency, glossy finish when used with metals.
Elastomeric coatings have received increased acceptance amongst various end users due to
properties such as enhanced durability and resistance to temperature variations unlike
conventional paints. Elastomeric coatings are also used to coat the surface of plastic parts
used in the automotive industry.
Elastomeric Coating Market Taxonomy
On the basis of type of product type global market is classified into:
Silicone
Butyl
Polyurethane
Acrylic
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REPORT DESCRIPTION
On the basis of application, the global market is segmented into:
Wall coatings
Horizontal surface coatings
Roof coatings
Wall coating product segment is expected to remain dominant in the global elastomeric coating
market, due to its wide application in the construction industry. Wall coatings offer properties
such as water resistance to the surface. Roof coatings offer numerous advantages such as high
tensile strength, thermal emissivity, dirt resistance, substrate adhesion, and solar reflectivity. This
has increased the consumption of roof coatings in the last few years, which has augmented
growth of elastomeric coating market. Acrylic coatings are used in wall coatings, roof coatings and
also for surface coatings and thus, remains the most widely used elastomeric coatings product.
Acrylic coatings provide excellent color retention property in outdoor conditions.
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Elastomeric Coating Market Outlook Burgeoning demand for Waterproof and Durable
Coatings to support Flourishing Construction Sector
Asia Pacific is expected to be the most potential market for elastomeric coating
manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value
over the forecast period. Growing population coupled with rapidly increasing construction
and automotive industries is expected to fuel demand for elastomeric coatings in the region.

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REPORT DESCRIPTION

This trend is expected to sustain over the forecast period. According to India Brand Equity
Foundation (IBEF)a trust by the Department of Commerce, Ministry of Commerce and
Industry, Government of Indiaby the end of FY20 the Indian construction industry is
expected to reach a value of US$ 5 billion. Increasing demand for high quality and
sustainable structures is increasing consumption of elastomeric coatings. Rapid growth of
the construction industry in Asia Pacific is a key driver for the market.

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Fluctuating prices of raw materials is expected to be one of the restraining factors for the growth
of elastomeric coating market over the forecast period. Coating resin used for manufacturing
elastomeric coating is derived from petroleum products, something that is subject to high price
volatility. Volatile Organic Compounds (VOC) regulations govern the elastomeric coatings market.
The National Volatile Organic Compounds Emissions standards enforced by the According to U.S.
Environmental Protection Agency aims to reduce VOC emissions by 90,000 tons per year in order
to reduce environmental impact. To reduce VOC content in Hong Kong, the government has
passed many regulations to prohibit import and manufacture of products which exceed the VOC
content limit. Continuous research and development to find alternatives to raw materials such as
use of vegetables oils and production methods to reduce VOC emissions is one of the key
strategies adopted by the top players in elastomeric coating industry. Some of the companies
operating in the global elastomeric coating market are BASF SE, Progressive Paintings Inc., The
Dow Chemical Company, Sherwin Williams Company, PPG Industries Inc., Industria Chimica
Adriatica SpA, Nippon Paints, Clariant, The Valspar Corporation, and Rodda Paints, among others.

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