ELASTOMERIC COATING MARKET ANALYSIS

Regional Analysis

Asia Pacific is expected to be the most potential market for elastomeric coating manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. Growing population coupled with rapidly increasing construction and automotive industries is expected to fuel demand for elastomeric coatings in the region. This trend is expected to sustain over the forecast period. According to India Brand Equity Foundation (IBEF)—a trust by the Department of Commerce, Ministry of Commerce and Industry, Government of India—by the end of FY20 the Indian construction industry is expected to reach a value of US$ 5 billion. Increasing demand for high quality and sustainable structures is increasing consumption of elastomeric coatings. Rapid growth of the construction industry in Asia Pacific is a key driver for the market.