Elastomeric Coating Market to be valued at USD 24.9 Billion by 2032, Says Global Market Insights inc.
Elastomeric Coating Industry size is expected to register 12.3% CAGR between 2024 and 2032 propelled by increasing construction activities.
Selbyville, Delaware , Aug. 28, 2024 (GLOBE NEWSWIRE) — Elastomeric Coating Market is projected to reach USD 24.9 billion by 2032, as per a
North America Sets the Pace in Industry
North America’s elastomeric coating market proliferates primarily because of its effectiveness in extending the lifespan of buildings and infrastructure. These coatings provide superior protection against extreme weather conditions prevalent in the region, such as intense sunlight, heavy rains, and temperature fluctuations. Additionally, their ability to improve energy efficiency by enhancing insulation properties appeals to building owners and operators aiming to reduce operational costs. Stricter environmental regulations encouraging the adoption of low-VOC coatings amplify adoption. Moreover, the ongoing maintenance and renovation of existing structures also contribute to the increasing demand for elastomeric coatings in North America.
Elastomeric Coating Market Players
Major elastomeric coating manufacturers include Sika AG, The Dow Chemical Company, Arkema Group, 3M Company, BASF SE, Dulux Group Limited, Benjamin Moore & Co., PPG Industries, Inc., Gaco, Jotun Group, Nippon Paint Holdings Co., Nouryon, The Sherwin-Williams Company, Hempel A/S, Ltd., and others.
The competitive landscape is dominated by key elastomeric coating producers focusing on strategic initiatives to maintain significant market shares. The elastomeric coating producers invest heavily in research to innovate and expand product applications. Strategic collaborations between large-scale companies and emerging players are common, aiming to enhance competitiveness and drive innovation. Competitors are evaluated based on product performance, durability, and application-specific features. The elastomeric coating industry emphasizes sustainability and compliance with stringent environmental regulations, influencing product development strategies across the elastomeric coating industry.
In April 2023, Datwyler launched UltraShield, spearheading dual film and spray fluoropolymer coating technologies for injectable drug closures. This advancement improves drug stability, caters to strict quality demands, and encourages pharmaceutical usage, strengthening Datwyler’s leadership in parenteral packaging solutions.
In March 2023, Pearl Polyurethane Systems introduced the cutting-edge DuraPearl Elastomer System for spray coatings. This provides superior strength over epoxy, improving productivity. Perfect for different climates, assuring durability with nominal environmental influence.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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