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Elastomeric Coatings to Register a CAGR of 19.8% in the Next 10 Years, Mentions Fact.MR

FACT.MR
FACT.MR

The Global Demand For Elastomeric Coatings Is Being Fueled By A Considerable Increase In The Building And Construction Industry

Rockville, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The Elastomeric Coatings revenues were estimated at US$ 10.7 Bn in 2021 and is anticipated to grow at a CAGR of 13.2% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 56.6 Bn.

The acrylic elastomeric coatings are applied to plastic automotive parts for coating purposes. Excellent thermal resistance, uniform surface distribution, and improved finishing are some of these coatings' key characteristics, and as a result, the automotive industry is forecast to employ them even more over the course of the projected period. Acrylic elastomeric coatings are extensively used in the architecture and construction sector due to their inertness and excellent color retention when exposed to outdoor settings.

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Report Attributes

             Details

Forecast Period

2022 - 2032

Value Projection (2032)

   US$ 56.6 Billion

Growth Rate (2022-2032)

16.9% CAGR

No. of Pages

170 pages

No. of Tables

48 Tables

No. of Figures

144 Figures


Key Takeaways from the Study

• Elastomeric Coatings Market was valued at US$ 10.7 Bn in 2021. According to Fact.MR, Elastomeric Coatings Market revenue would increase 4.7X between 2022 and 2032, reaching roughly US$ 56.6 Bn in 2032.

• In terms of Product Type, Acrylic elastomeric coatings is projected to account for the highest projected CAGR of over 19.8%.

• In terms of application, Wall Coatings account for the highest CAGR of 15.2% during 2017-21.

• US is the dominant country in the Elastomeric Coatings Market with an absolute dollar growth opportunity of over US$ 16.9 Bn.

Competitive Landscape
Some of the recent developments of key Elastomeric Coating providers are as follows:

  • In February 2021, PPG acquired Versa Flex from DalFort Capital Partners. For industrial flooring, transportation infrastructure, and water and wastewater infrastructure, Versa Flex specializes in polyurethane, epoxy, and polyurethane coatings.

  • In May 2021, PPG announced that it has completed the acquisition of Worwag, a significant manufacturer of coatings used in both industrial and automotive applications. The company specializes in producing powder, liquid, and film coatings that are environmentally friendly.

  • In January 2019, the coatings division of BASF will purchase the vehicle paint detackification business of Polymer Ventures, Inc. as well as all of the stock of Galaxy Chemical Corporation.

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Key Companies Covered

  • BASF SE

  • Sherwin Williams Company

  • PPG Industries

  • Teknos Group

  • Huntsman Corporation

  • The DOW Chemical Company

  • Axalta Coating Systems LLC

  • The Valspar Corporation

  • Kansai Nerolac Paints Limited

  • Progressive Paintings LLC

  • Nippon Paints

  • Rodda Paints

Elastomeric Coatings Industry Segmentation

  • By Product Type :

    • Acrylic

    • Polyurethane

    • Silicon

    • Butyl

    • Other Types

  • By Application :

    • Wall Coatings

    • Floor/Horizontal Surface Coating

    • Roof Coating

    • Other Applications

  • By Region :

    • North America

    • Latin America

    • Europe

    • APAC

    • MEA

The key revenue drivers of the Elastomeric Coatings Market are an increase in the manufacture and sales of car parts with elastomeric coatings to stop corrosion in the automotive industry, and the quest for odorless coatings that use safe chemicals. Besides, environmental regulations governing VOC emissions and dangerous air pollutants have also raised the demand for sophisticated coatings, such as elastomeric coatings.

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Key Questions Covered in the Elastomeric Coatings Market Report

  • What is the projected value of the Elastomeric Coatings Market in 2023?

  • At what rate will the global Elastomeric Coatings Market grow until 2033?

  • Which are the factors hampering the growth in the Elastomeric Coatings Market?

  • Which region is expected to lead in the global Elastomeric Coatings Market during 2023 to 2033?

  • Which are the factors driving the Elastomeric Coatings Market during the forecast period?

  • What is the expected market value of the Elastomeric Coatings Market during the forecast period?

More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Elastomeric Coatings Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Elastomeric Coatings in terms of Product Type (Acrylic, Polyurethane, Silicon, Butyl, Other Types), Application (Wall Coatings, Floor/Horizontal Surface Coating, Roof Coating, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Check out more related studies published by Fact.MR Research: 
Bio-based Coatings Market: The global bio-based coating market stands at USD 11.5 Billion in the year 2022. This market is growing with a CAGR value of 9.5% in the forecast duration.

Architectural Coatings Market: The architectural coatings market accumulated a market value of US$ 77,888 Mn in 2021 and is expected to register a positive CAGR of 4.52% in the assessment period.

Metal Packaging Coatings Market: The global metal packaging coatings market is poised to embark on a positive growth trajectory, registering a CAGR of ~5% across the forecast period (2020-2030).

Automotive Coatings Market: Sales of automotive coatings amounted to US$ 16.3 Billion in FY 2021, and is forecast to experience a year-over-year expansion rate of 4.3% in 2022, reaching US$ 17 Billion.

About Fact.MR

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