Global Elastomeric Coatings Market for the Construction Industry 2017-2021
About Elastomeric Coatings
Elastomeric coatings are flexible, high solids, liquid-applied rubber-like membrane commonly used in wall, floor, and roofing application in the construction industry. They are able to expand more than 200% and can contract along with the substrates. These coatings are commonly applied in thick films of normally 10 mils and above. They are 5-10 times thicker than conventional coatings. Elastomeric coatings are used in different applications such as restoration purposes, new construction, and maintenance. The three key applications of elastomeric coatings are roof, wall, and floor.
Technavio’s analysts forecast the global elastomeric coatings market for the construction industry to grow at a CAGR of 14.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global elastomeric coatings market for the construction industry for 2017-2021. To calculate the market size, the report c presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Elastomeric Coatings Market for the Construction Industry 2017-2021
Technavio recognizes the following companies as the key players in the global elastomeric coatings market for the construction industry: BASF, PPG Industries, The Sherwin-Williams Company, The Dow Chemical Company, and The Valspar Corporation.
Other Prominent Vendors in the market are: 3M, BEHR Process Corporation, Clariant, DuluxGroup, Henry, Nippon Paint Holdings, Progressive Painting, Jotun, and Rodda Paint.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increase in R&D activities. The major global players have increased their R&D expenditure to reduce the manufacturing cost of elastomeric coatings and to provide products with enhanced properties. The growing R&D expenditure is a major trend being witnessed by the global market in the recent years. Thus, to maintain a competitive edge and market share, the manufacturers have been heavily emphasizing on new innovations and developments.”
According to the report, one driver in market is popularity of tilt-up concrete. Tilt-up concrete is a form of precast construction, which requires the concrete panels to be built on the ground site, lifted and placed by a crane, then propped in position while the panels are joined, and roofing structure is installed. Between each panel, a release agent or bond breaker is applied to facilitate separation between each panel. On each tilt-up concrete panel there exist two surfaces; cast face from the previous panel and a hand-finished trowel face. The surfaces are inspected to ensure that it is free of mud, dirt, grime, release agents, and bond breakers. The tilt-up concrete building technique is being used in building structures, especially in warehouse building, corporate offices, and industrial houses, due to its speed of construction, low cost, and possible architectural treatments.
Further, the report states that one challenges in market is high cost in comparison with conventional coating. Weighing the cost factor per gallon, the cost of elastomeric coatings is comparable or slightly more than the high-quality latex paint. Elastomeric coatings have more than 40% of the cost than conventional paints. The elastomeric coating coverage typically covers 50 to 100 square feet per gallon, whereas conventional paint covers around 250 to 400 square feet per gallon. Parameters such as the desired film thickness, coating texture, and surface profile also affect the quantity needed. When elastomeric coatings are used in construction, the contractors are compelled to use primers and surface conditioners specifically designed to be compatible with elastomeric coatings, which increases the cost of construction.
BASF, PPG Industries, The Sherwin-Williams Company, The Dow Chemical Company, The Valspar Corporation, 3M, BEHR Process Corporation, Clariant, DuluxGroup, Henry, Nippon Paint Holdings, Progressive Painting, Jotun, and Rodda Paint.
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