Latest News- Elastomeric Coatings Market: Silicone is expected to lead the Type segment during 2024-2028

The Elastomeric Coatings Market is being driven by Increasing consumption of thermoplastic elastomer coatings in automotive industry

The Elastomeric Coatings Market is expected to grow at a CAGR of 3.27% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 564.8 million. Elastomeric coatings, comprised of materials such as acrylic, polyurethane, polysulfide rubber, silicone, and epoxy, serve as essential surface coverings in various building applications, including walls, floors, and roofs. These coatings offer significant advantages, including superior abrasion resistance, chemical resistance, tear strength, high moisture resistance, and temperature compatibility. The burgeoning building and construction sector's expansion globally is fueling the demand for elastomeric coatings. Notable ongoing projects, including Intel's USD2 billion Chandler Campus Expansion in Arizona, are anticipated to significantly contribute to market growth during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Silicone
  • Acrylic
  • Urethane
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing consumption of thermoplastic elastomer coatings in automotive industry
• High demand for energy-efficient roof systems
• Popularity of tilt-up concrete in building

However, the market also witnesses some limitations, which are as follows:

• Volatility in prices of raw materials
• Need for higher dry film thickness in elastomeric coatings
• More expensive than other conventional paints

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Market Scope in Elastomeric Coatings Market Research Report

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Research Analysis Overview

The Elastomeric Coatings Market encompasses various types of coatings, including Butyl, Polyurethane, Silicone, Acrylic, Polysulfide, Vinyl, and others. These coatings are used in Wall Coatings and Roof Coatings for Building and Construction, providing resistance to weathering, UV radiation, and heat absorption. Energy-efficient options, such as those with light reflection properties, are eco-friendly and sustainable. Water Borne and Solvent Borne production methods are used, with the latter containing hazardous Volatile Organic Compounds (VOCs). Bios-based elastomers and Waterborne production methods are gaining popularity. Elastomeric coatings also find applications in Automotive Interior Coatings as protective barriers.

Market Research Overview

The Elastomeric Coatings market is a significant segment of the global specialty chemicals industry, encompassing manufacturers of Butyl, Polyurethane, Silicone, Acrylic, Polysulfide, Vinyl, Water Borne, and Solvent Borne coatings. These coatings, which include Wall Coatings, Roof Coatings, Floor Coatings, and Automotive Interior Coatings, are characterized by their high-value-addition and specialized applications. According to Technavio, the global specialty chemicals market, which includes the Elastomeric Coatings sector, is projected to grow due to the increasing demand for specialty adhesives and sealants. This trend is expected to drive market expansion throughout the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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