Global elastomeric coating market worth $13.58 billion by 2021

The global elastomeric coating market size is estimated to reach $13.58 billion by 2021, growing by as much as 15.19% yearly during the period 2016 and 2021, according to estimates by Research and Markets. The products' ability to bridge the gaps between pores and cracks and their performance properties are fueling the overall demand of elastomeric coating in the next five years globally.

 

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.

 

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.