Attractive opportunities in the Polymer Modified Cementitious Coatings Market

The polymer modified cementitious coatings market in 2020 is estimated at USD 1.1 billion and is projected to reach USD 1.5 billion by 2025, at a CAGR of 6.5% from 2020 to 2025. The growth of this market can be attributed to the increasing demand for polymer modified cementitious coatings from the residential buildings sector. In addition, government initiatives to support infrastructural developments in the Asia Pacific region are anticipated to drive the growth of the polymer modified cementitious coatings market. Furthermore, outbreak of COVID-19 pandemic is anticipated to hamper the consumption of polymer modified cementitious coatings which affects the market growth.

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The acrylic polymers segment is estimated to lead the polymer modified cementitious coatings market in 2020, due to the rising demand due to increasing use of acrylic-based polymer modified cementitious coatings in residential buildings applications. Further, acrylic-based polymer modified cementitious coatings are low in alkali content, fast-setting, and high strength properties. These are also used for patching small cracks, holes, honeycombs, and surface defects over half-inch in depth. They are used in waterproofing floors, columns, beams, slabs, loading docks, and precast walls. They are also used for the protection of concrete structures from vapor, chloride ions, acidic gas, and alkali attacks.

The growth of the residential buildings segment can be attributed to the increasing use of polymer modified cementitious coatings in various residential applications, such as exterior walls, driveways & sidewalks, and floorings. Furthermore, the growth of the real estate market in emerging countries of Asia Pacific and the Middle East & Africa has contributed to the growth of the polymer modified cementitious coatings market in the residential buildings segment.

The polymer modified cementitious coatings market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific polymer modified cementitious coatings market in 2019. The Asia Pacific region is an emerging and lucrative market for polymer modified cementitious coatings, owing to industrial development and improving economic conditions. This region constitutes approximately 60% of the world’s population, and thus leads to the wide-scale use of polymer modified cementitious coatings for waterproofing applications in residential and non-residential buildings, and public infrastructure. Outbreak of COVID-19 from China and the impact of coronavirus in Japan, South Korea, Autralia, and India has caused a decrease in the consumption of polymer modified The polymer modified cementitious coatings market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific polymer modified cementitious coatings market in 2019. The Asia Pacific region is an emerging and lucrative market for polymer modified cementitious coatings, owing to industrial development and improving economic conditions. This region constitutes approximately 60% of the world’s population, and thus leads to the wide-scale use of polymer modified cementitious coatings for waterproofing applications in residential and non-residential buildings, and public infrastructure. Outbreak of COVID-19 from China and the impact of coronavirus in Japan, South Korea, Autralia, and India has caused a decrease in the consumption of polymer modified cementitious coatings.

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Polymer modified cementitious coatings are widely used in residential buildings application

The polymer modified cementitious coatings market is estimated to be USD 1.23 Billion in 2017 and is projected to reach USD 1.66 Billion by 2022, at a CAGR of 6.2%. The growth of this market can be attributed to the increasing demand for polymer modified cementitious coatings from the residential buildings sector. In addition, government initiatives to support infrastructural developments in the Asia Pacific region are anticipated to drive the growth of the polymer modified cementitious coatings market.

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The growth of the residential buildings segment can be attributed to the increasing use of polymer modified cementitious coatings in various residential applications, such as exterior walls, driveways & sidewalks, and floorings. Furthermore, the growth of the real estate market in emerging countries of Asia Pacific and the Middle East & Africa has contributed to the growth of the polymer modified cementitious coatings market in the residential buildings segment.

The high demand for polymer modified cementitious coatings from the construction industry and infrastructural development in countries, such as China and India, are key factors driving the growth of polymer modified cementitious coatings market in the Asia Pacific region.

Key players operating in the polymer modified cementitious coatings market are BASF SE (Germany), Sika AG (Switzerland), Arkema S.A. (France), Fosroc International Limited (UK), Mapei S.p.A. (Italy), Akzo Nobel N.V. (Netherlands), The Dow Chemical Company (US), Saint-Gobain Weber S.A. (France), The Lubrizol Corporation (US), Evercrete Corporation (US), Celanese Corporation (US), Lafarge Malaysia Berhad (Malaysia), Flexcrete Technologies Limited (UK), Pidilite Industries Limited (India), H.B. Fuller (US), Organik Kimya San. ve Tic. A.S. (Turkey), and Berger Paints India Limited (India).

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The Strategy of Expansions has been Most Important Growth Strategy Adopted by the Fireproof Insulation Manufacturers

The global fireproof insulation market is expected to reach USD 23.79 Billion by 2021, at a CAGR of 4.6% from 2016 to 2021. Key driving factors for the growth of the fireproof insulation market are the growth of the construction industry in emerging economies such as China, India, and Brazil and stringent building codes for fire safety in the developed countries such as the U.S., Canada, and Germany.

The global fireproof insulation market is a competitive market, with key players adopting various growth strategies to maintain or increase their shares in the global fireproof insulation market. The key companies offering fireproof insulation have been mainly involved in expansions and mergers & acquisitions. They have been rigorously adopting these strategies to strengthen their position in the global fireproof insulation market. The large players operating in this market have been taking initiatives to enhance their global reach, while small companies have concentrated increasingly on the development of new products.

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The strategy of expansions has been most important growth strategy adopted by the fireproof insulation manufacturer. This strategy accounted for a share of 44% of all strategic developments that took place in the market. The strategy of new product launches was the second-most preferred growth strategy adopted by the manufacturers and accounted for a share of 27% of the total development strategies that took place in the global fireproof insulation market.

Rockwool International A/S (Denmark), Knauf Insulation GmbH (Germany), Saint-Gobain S.A. (France), Owens Corning Corporation (U.S.), Berkshire Hathaway, Inc. (U.S.), BASF SE (Germany), and Paroc Oy (Finland) are some of the key players operational in the fireproof insulation market.

Rockwool International A/S (Denmark), is the leading player in the fireproof insulation market. The company offers a wide range of fireproof insulations. The company follows both organic as well as inorganic growth strategies to increase its share in the global fireproof insulation market. The company serves both commercial and residential markets and has effectively managed expansion of its existing or new facilities, development of new products, and acquisition of its sales partners to expand its product portfolio globally. For instance, in June 2016, Rockwool International established a new production facility in Poland with an investment of 80 million Euros. This new production line will help Rockwool to meet the growing demand for stone wool insulation in the Polish market. In December 2015, Rockwool expanded production capacity at its plant in Bohumin, Czech Republic. This is expected to help the company to expand its presence in Central Eastern Europe.

BASF SE (Germany) is another key player operating in this market. This company manufactures and supplies a wide range of fireproof insulations. The products range from performance polymers, polyurethanes, and basotect plastic foam fireproof insulation. BASF also serves both commercial as well as residential insulation market. The company has adopted new product launches as the key growth strategy over the years. BASF launched a new XPS Styrodur 3000 CS under the brand Styrodur, in January 2015. The wide range of brands and products and active operations make BASF a leading player in this market.

The acrylic polymer segment is projected to lead the polymer modified cementitious coatings market during the forecast period

Polymer Modified Cementitious Coatings Market is projected to reach USD 1.66 Billion by 2022, at a CAGR of 6.2% from 2017 to 2022. The growth of this market can be attributed to the increasing demand for polymer modified cementitious coatings from the residential buildings sector. In addition, government initiatives to support infrastructural developments in the Asia Pacific region are anticipated to drive the growth of the polymer modified cementitious coatings market.

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The acrylic polymer segment led the polymer modified cementitious coatings market in 2016. The growth of this segment can be attributed to the increasing use of acrylic-based polymer modified cementitious coatings in architectural applications. Styrene acrylics and vinyl acrylics are major derivatives of acrylics that are used in waterproofing application.

Based on application, the residential buildings segment led the polymer modified cementitious coatings market in 2016, owing to an increase in construction activities across all regions.

The Asia Pacific region led the polymer modified cementitious coatings market in 2016 and is expected to grow at a high rate during the forecast period. The growth can be attributed to the increasing demand for polymer modified cementitious coatings from non-residential buildings, residential buildings, and public infrastructures applications in China, India and South Korea.

The shelf life of the polymer modified cementitious coatings is restricted to 3-5 years. Therefore, polymer modified cementitious coatings market growth is restrained due to the limited shelf life. In addition, any price fluctuation of the raw materials required in the production of this coating is a major challenge in the growth of polymer modified cementitious coatings market.

BASF SE (Germany), Sika AG (Switzerland), Arkema S.A. (France), Fosroc International Limited (UK), Mapei S.p.A. (Italy), Akzo Nobel N.V. (Netherlands), The Dow Chemical Company (US), Saint-Gobain Weber S.A. (France), The Lubrizol Corporation (US), Evercrete Corporation (US), Celanese Corporation (US), Lafarge Malaysia Berhad (Malaysia), Flexcrete Technologies Limited (UK), Pidilite Industries Limited (India), H.B. Fuller (US) Organik Kimya San. ve Tic. A.S. (Turkey), and Berger Paints India Limited (India) are the major players in the polymer modified cementitious coatings market. These players have been focusing on strategies, such as mergers & acquisitions, expansions, and new product developments to expand their businesses in untapped and potential markets.

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