LONDON, Aug. 25, 2016 /PRNewswire/ -- The global elastomeric coating market size is estimated to reach USD 13.58 billion by 2021, at a CAGR of 15.19% between 2016 and 2021. Their ability of bridging the gaps between pores and cracks and their performance properties are fueling the overall demand of elastomeric coating in the next five years globally.
"Wall coatings is the largest application of elastomeric coating"
Elastomeric coatings are used in the construction sector for wall coatings, roof coatings, and floor coatings applications. In 2015, the wall coating application accounted for the largest market share, in terms of value and volume. It is followed by the roof coating application. The elastomeric coating market in the wall coatings segment is projected to witness the highest CAGR between 2016 and 2021, in terms of volume.
"Rising demand in Asia-Pacific is the major driver of elastomeric coating market"
The high demand in Asia-Pacific is expected to be the major driver of the global elastomeric coating market. China is expected to lead the Asia-Pacific market in terms of demand for elastomeric coating due to the increased industrial production of elastomeric coating raw materials such as acrylic, polyurethane, silicone, and butyl in the last 3–4 years. It is also among the leading emerging markets of elastomeric coating, globally.
The markets in other emerging economies such as Brazil, India, and Mexico are also expected to witness rapid growth.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 58%, Tier 2 – 33%, and Others – 9%
- By Designation - C level – 50%, D level – 33%, and Others – 17%
- By Region - North America – 33%, Europe – 30%, Asia-Pacific – 14%, South America – 14%, and the Middle East & Africa -9%
The key companies profiled in this market research report are BASF SE (Germany), Henry Company (U.S.), PPG Industries Inc. (U.S.), Dow Corning (U.S.), Nippon Paints. (Japan), Sherwin-Williams Company (U.S.), Rodda Paints (U.S.), and others.
The report will help market leaders/new entrants in the following ways:
1. This report segments the elastomeric coating market comprehensively and provides the closest approximations of the market sizes for the overall market and the subsegments across different verticals and regions.
2. The report will help stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to understand the major competitors and gain additional insights to improve their position in the business. The competitive landscape section includes new product developments, investments & expansions, joint ventures, partnerships, contracts & agreements, and mergers & acquisitions.
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