Elastomeric Coatings Market: Fueling Revenue through Automotive Corrosion Protection

ROCKVILLE, MARYLAND, UNITED STATES, September 15, 2023/EINPresswire.com/ -- In 2021, the global Elastomeric Coatings Market Share recorded sales of US$ 10.7 billion. Projections indicate a slightly higher market growth rate of 16.9% during the period spanning 2022 to 2032, surpassing historical growth rates.

The Elastomeric Coatings Market is primarily driven by key factors such as the increased manufacturing and sales of automotive parts coated with elastomeric materials to combat corrosion in the automotive industry. Additionally, there is a growing demand for odorless coatings formulated with safe chemicals. Furthermore, stringent environmental regulations addressing VOC emissions and harmful air pollutants have further fueled the demand for advanced coatings, including elastomeric formulations.

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Unlocking the Potential: Advantages of Elastomeric Coatings in Industry

When compared to other industrial coatings available in the market, elastomeric coatings offer a range of distinct advantages that collectively position them as a superior choice. Notably, these coatings exhibit exceptional water resistance, boasting a thickness ten times greater than alternative industrial coatings. Additionally, elastomeric coatings are cost-effective and environmentally friendly.

The versatility of elastomeric coatings makes them particularly well-suited for a variety of applications, including structural support, waterproofing of walls and roofs, and the application of eco-friendly coatings. These attributes are anticipated to significantly boost the demand for elastomeric coatings, elevating them above competing industrial coatings and driving global market growth.

Elastomeric coatings play a crucial role in preventing water infiltration into constructed interior walls, sealing cracks in roofing, stucco, and exterior concrete walls. They offer stability in diverse climatic conditions, including resistance to acid rain, dew formation, and dirt accumulation. Typically composed of acrylic, silicone, and polyurethane polymers, these coatings are widely used in the building and construction industry.

Thanks to the high surface tension of these polymers, water droplets bead up, preventing them from penetrating the concrete's inner layers. In the case of steel buildings and reinforced structures, elastomeric coatings act as a protective barrier, preventing corrosion and oxidation by sealing the metal from environmental exposure, thereby extending its lifespan.

Elastomeric coating represents a long-term solution, offering additional benefits such as the ability to halt structural deterioration. Furthermore, it can be customized in various colors, making it an ideal alternative to plasters that may not withstand typical wear and tear or outdoor use. Traditional plasters often come with high costs, application challenges, and shorter lifespans.

Competitive Analysis:

Here are some noteworthy recent developments from key elastomeric coating providers:

PPG's Acquisition of Versa Flex (February 2021): PPG acquired Versa Flex from DalFort Capital Partners. Versa Flex specializes in polyurethane, epoxy, and polyurea coatings designed for industrial flooring, transportation infrastructure, and water and wastewater infrastructure applications.

PPG's Acquisition of Worwag (May 2021): PPG completed the acquisition of Worwag, a significant manufacturer of coatings used in both industrial and automotive applications. Worwag is known for producing environmentally friendly powder, liquid, and film coatings.

BASF's Purchase of Polymer Ventures and Galaxy Chemical (January 2019): The coatings division of BASF acquired the vehicle paint detackification business of Polymer Ventures, Inc., along with all the stock of Galaxy Chemical Corporation.

These recent developments reflect the dynamic nature of the elastomeric coatings market and the strategic moves of key players to enhance their product portfolios and market presence. For further details on recent developments in the Elastomeric Coatings Market, you can refer to the comprehensive report by Fact.MR."

Key Companies Covered:

-BASF SE
-Sherwin Williams Company
-PPG Industries
-Teknos Group
-Huntsman Corporation
-The DOW Chemical Company
-Axalta Coating Systems LLC
-The Valspar Corporation
-Kansai Nerolac Paints Limited
-Progressive Paintings LLC
-Nippon Paints
-Rodda Paints

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Country Spotlight: In-Depth Analysis of the U.S. Elastomeric Coatings Market

The United States is poised to become the largest market for elastomeric coatings, with an estimated valuation of US$ 21.1 billion by the end of 2032. This growth is projected to result in an absolute dollar increase of US$ 16.9 billion. The robust US economy, valued at US$ 20 trillion, is underpinned by an extensive infrastructure network encompassing highways, freight rail systems, bridges, electrical grids, ports, and internet connectivity.

In July 2021, the US Department of Transportation (USDOT) Secretary announced a significant development with the Infrastructure for Rebuilding America Program, earmarking a total of US$ 905.25 million in discretionary grants for 24 projects spanning 18 states. Among these projects, the allocation of US$ 30 million to the Los Angeles County Metropolitan Transportation Authority stands out, as it will facilitate substantial enhancements at the 1.3-mile confluence point where the SR-57 and SR-60 highways intersect in Los Angeles County. This infrastructural progress has spurred an increased demand for elastomeric coatings, especially within the building and construction sector.

The United States ranks among the world's largest vehicle markets, contributing significantly to the country's overall GDP, with an estimated 3%. As of June 2020, approximately 250 million vehicles, including trucks, cars, and buses, in the US were powered by internal combustion engines utilizing gasoline or diesel fuel.

The government has incentivized the adoption of electric vehicles through various tax benefits, leading to a surge in electric vehicle production. Consequently, the automotive coatings market is expected to benefit from increased automobile manufacturing, thereby contributing to the growth of the elastomeric coatings market in the country."

Analysis of the Elastomeric Coatings Market in the United Kingdom

The United Kingdom's elastomeric coatings market is on track to reach a valuation of US$ 2.8 billion by 2032. Furthermore, the market is poised for robust growth with a projected Compound Annual Growth Rate (CAGR) of 17.9% during the period spanning 2022 to 2032, resulting in a significant absolute dollar opportunity of US$ 2.3 billion.

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Container Glass Coatings Market: The growing population will increase the demand for foods and beverages, which will directly influence the growth of the glass containers and container glass coatings market. The long service life and low environmental impact of glass containers will promote their use in packaging, thereby aiding the growth of the container glass coatings market.

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