Elastomeric coatings are protective coating materials that are sprayed over surfaces, primarily to protect them from damages caused by UV rays, chemical attacks, abrasion and other harsh external conditions. They are flexible, seamless and durable in nature, and increasingly being used for protective waterproofing of rooftops, walls, concrete structures in building and infrastructural projects.

The global Elastomeric Coating Market is estimated to be valued at US$ 21526.2 Mn in 2023 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:
The increased usage of elastomeric coatings in infrastructural projects is one of the key trends accelerating the market growth. Elastomeric coatings are highly effective protective solutions for buildings, bridges and other concrete structures exposed to extreme weather conditions. They provide great flexibility and crack-bridging ability to accommodate movements in concrete structures. Many governments across the globe are investing heavily in infrastructure development and construction of roads, bridges, airports etc., which is driving the adoption of elastomeric coating systems for long-lasting protection of these assets. The advanced formulations of elastomeric coatings ensuring high durability, UV-resistance and flexibility make them suitable for different types of infrastructural applications. This growing infrastructural development is expected to propel the demand for elastomeric coatings during the forecast period.

Segment Analysis
The Global Elastomeric Coating Market Size is segmented by type, application, end-use industry and region. By type, the acrylic segment dominated the market in 2020 and accounted for highest market share. Acrylic elastomeric coatings offer properties like flexibility, durability and breathability. They have wide applications in roofs, walls and other areas exposed to weathering.

By application, the roof coatings segment held major share of the elastomeric coating market in 2020. Elastomeric coatings are increasingly used for roof coatings of residential, commercial as well as industrial buildings. These coatings provide waterproofing and protect roofs from harsh weather conditions.

Key Takeaways
The Global Elastomeric Coating Market Size is estimated to be valued at US$ 21526.2 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031.

Regional analysis: North America region accounted for largest share of the global elastomeric coating market in 2020. High existing building infrastructure and robust construction industry in the US and Canada supports the market growth. Furthermore, strict building codes regarding energy efficiency boost 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 dominates the market owing to its diversified product portfolio and strong global presence. Olympus Corporation also has significant market share due to its focus on R&D and new product launches.

 

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