The global polymer modified cementitious coatings market is expected to grow over the forecast period on account of rising demand primarily from the residential real estate and other key application industries. In addition, rising government initiatives for infrastructural development in Asia Pacific and Middle East & Africa are expected to drive market growth.
The market is expected to grow owing to the multifunctional characteristics of the product; however, the limited shelf life of the polymer modified cementitious coatings restricted to 3-5 years is expected to restrain the market growth. In addition, fluctuations in the prices of the raw materials is a major challenge to the growth of the market over the forecast period.
Rapid industrialization, the importance of innovation, and R&D for developing efficient coatings is likely to impact market growth. Polymer modified cementitious market is segmented based on product into SBR latex and acrylic polymer on account of the applications of its varied derivatives.
The polymer modified cementitious coating is an important waterproofing agent in construction material. Among the two types of coatings, the acrylic polymer segment is expected to grow at a higher rate as compared to its counterparts over the forecast period owing to the increasing use of the product in architectural applications.
Acrylic polymers are available in different subtypes including thermoplastic acrylic polymers, acrylic polymers with methylol acrylamides, hydroxy-functional acrylic resins crosslinked by amino resins, non-aqueous dispersions acrylic polymers, and high solid acrylic polymers are the sub-types of the acrylic polymers available for a wide range of application industries.
The polymer modified cementitious coatings market is segmented on the basis of applications into non-residential real estate, residential real estate, and public infrastructures. The residential building segment is expected to lead the polymer modified cementitious coating market owing to the rise in construction activities across the globe.
The roadside concrete structures such as roadside barriers, bridge rails, and drainage holes face the corrosion problem where polymer modified cementitious coatings offer protection to these structures. The high functional efficiency of the coatings is expected to be a key aspect of the use of these coatings in corrosion resistance for concrete structures.
In residential buildings, polymer-modified cementitious coatings are used in the construction of driveways & sidewalks, exterior walls, and floorings whereas in the construction of public infrastructures such as roads & bridges, parking structures & stadiums, and in pipe coatings, which is likely to propel market growth over the forecast period.
SBR-based polymer modified cementitious coatings find applications in waterproofing of roof slabs, sunken slabs, water tanks, basements, and sunshades. It is used as a bonding agent in repair and plastering while improving flexibility, elasticity, the tensile strength of cement, and reducing the probability of cracking.
The growing market of commercial real estate owing to increasing construction of the commercial building in the developing economies is expected to have a positive impact on the market as the coatings are being widely used for external corrosion resistance against weatherization.
The increasing demand for residential real estate in the developed economies in North America is expected to have a positive impact on market growth over the forecast period. The recovering real estate sector in the U.S. post-financial crisis is likely to have a positive impact on market growth.
The Asia Pacific led the polymer modified cementitious coatings market and is expected to grow at a higher rate as compared to the other regions over the forecast period. The growth in the market can be attributed to the rising demand for coatings in non-residential real estate, residential real estate, and public structures applications in China, India, and South Korea.
The growth of the real estate market in the emerging economies of Asia Pacific, Middle East & Africa has contributed to the rise in the demand of polymer modified cementitious coatings market in the industrial and commercial building segment. The construction industries and infrastructural development in the countries are the key drivers for the market in these regions.
Major industry contributors operating in the market are BASF SE, Arkema SA, Mapei S.p.A., AkzoNobel N.V., The Lubrizol Corporation, Celanese Corporation, and others. The market involves players catering to global as well as local application industries.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries. The report will account for Covid19 as a key market contributor.