December 23, 2020
According to the research report titled ‘Global Polymer Modified Cementitious Coatings Market Size study, by Polymer Type (Acrylic Polymers, SBR Latex), Application (Non-Residential Buildings, Residential Buildings, Public Infrastructure) and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global polymer modified cementitious coatings market was valued at USD 1 billion in 2019 and is anticipated to witness a CAGR of 6.5% during 2020-2027.
Flourishing construction sector in developed as well as developing nations is majorly driving the global polymer modified cementitious coatings market. Further, surging urbanization, government focus on introducing housing schemes, and swift development of residential buildings are contributing to the industry growth.
As per India Brand Equity Foundation (IBEF), launch of new housing projects among the top 7 cities in the India rose by 32% per year up to 2018, to reach 193 thousand units. Further, government sanctioned 8.09 million houses by May 2019 under the Pradhan Mantri Awas Yojana (PMAY).
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Ability of shielding concrete and steel components from corrosion is boosting the usage of polymer modified cementitious coatings. In addition, wide application scope in construction works such as waterproofing of sunshades, roof slabs, basements, and water tanks, along with incorporation to improve tensile strength of cement, and elimination of cracks in concrete structures are accelerating the growth of global polymer modified cementitious coatings market.
However, short life span of these coatings is hampering the growth of global polymer modified cementitious coatings industry. Despite that, research activities for developing new varieties to enrich the product portfolio will create lucrative opportunities for the market growth during 2020-2027.
With respect to polymer type, global polymer modified cementitious coatings market is classified into acrylic polymers, and SBR latex. Speaking of application spectrum, the industry is divided into public infrastructure, non-residential buildings, and residential buildings.
From a regional frame of reference, worldwide polymer modified cementitious coatings market share is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. APAC market is projected to record the highest growth rate during the study period, mainly due to presence of known chemical manufacturers in the region, as well as rapid industrial development. Further, rising disposable income, and surging population are propelling the industry growth in Asia Pacific.
Major players influencing the global polymer modified cementitious coatings market sphere include Compagnie de Saint-Gobain S.A., Organik Kimya San. Tic. A.S. (Organik Kimya San.ve Tic. A.S.), H.B. Fuller Company, Sika AG, Akzo Nobel N.V., Arkema S.A., Fosroc International Limited, The Lubrizol Corporation, Pidilite Industries Limited, and MAPEI S.p.A.