Elastomeric coatings are liquid applied membranes that are sprayed or brushed onto various building materials such as concrete, metal or wood surfaces to provide weatherproofing and protection. These coatings contain elastomeric polymers that allow them to expand and contract with temperature changes, providing long lasting waterproofing for roofing and construction applications. They are commonly used in commercial building construction as protective exterior sealants. Some key properties include flexibility, durability and resistance to moisture, chemicals and UV rays. The global elastomeric coating market offers several advantages such as ease of application, longevity and energy efficiency. They play a crucial role in protecting buildings from various weather elements and preserving infrastructure integrity for decades.
The global Elastomeric Coating Market is estimated to be valued at US$ 21526.2 Mn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving growth in the elastomeric coating market is rising infrastructure investments across both developed and emerging economies. According to the World Bank, global infrastructure spending is projected to increase to over $94 trillion by 2040. This provides significant opportunities for protective coatings and waterproofing membranes manufacturers. Another key trend is the development of bio-based and sustainable elastomeric formulations. Manufacturers are focusing on utilizing renewable raw materials and reducing volatile organic compound (VOC) emissions from their products to meet tightening environmental regulations. Product innovation with advanced technologies that enable faster drying times, self-cleaning properties and color retention under extreme weather conditions is also helping to increase market penetration.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the elastomeric coating market is low due to the presence of established players and significant capital requirements for setting up manufacturing facilities.
Bargaining power of buyers: Buyers have moderate bargaining power in the elastomeric coating market due to the availability of several global and regional players offering a variety of products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials used in elastomeric coatings such as acrylic, polyurethane, and silicone polymers have few substitutes and suppliers have a threat of forward integration.
Threat of new substitutes: The threat of substitutes is low as elastomeric coatings have superior properties compared to other alternatives.
Competitive rivalry: The competitive rivalry is high due to the presence of numerous global and regional players competing on the basis of product quality, price, and innovation.
Key Takeaways
The Global Elastomeric Coating Market Size is expected to witness high growth over the forecast period. The growing construction industry across the world is expected to drive the demand for elastomeric coatings for roof coatings and wall coatings applications. The global Elastomeric Coating Market is estimated to be valued at US$ 21526.2 Mn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031.
Regional analysis: Asia Pacific region is expected to dominate the global market over the forecast period. The growth of the construction industry in countries such as China and India is driving the demand for elastomeric coatings in the region.
Key players: Key players operating in the elastomeric coating market are Stryker, Olympus Corporation, Integra LifeSciences, Sring GmbH, Biomedicon Systems India Pvt Ltd, Xcellance Medical Technologies, MISONIX, Inc., Cybersonics, Inc., Meta Dynamic, Inc., InnoSound Technologies, Inc. Stryker offers elastomeric coating products such as Stryker Medical Lubricant and Protective Coating.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
