The polymer modified cementitious coatings market is estimated at USD 1.1 billion in 2020 and is projected to reach USD 1.5 billion by 2025, at a CAGR of 6.5% from 2020 to 2025. The residential segment is estimated to lead the polymer modified cementitious coatingsmarket in 2020, owing to The growing urbanization and migration of people from rural areas to urban cities are important factors driving the housing sector. Rising government initiatives to support infrastructure development and construction activities in emerging countries of the Asia Pacific region offer lucrative growth opportunities to manufacturers of polymer modified cementitious coatings. The recent outbreak of the COVID-19 pandemic and its rapid spread across the world has led to economic disruption and has brought down construction activities. Trade, travel, retail, and manufacturing activities have been affected, and the production of construction chemicals has come to a standstill during the first three months of 2020 and is expected to continue till the second quarter of 2020.
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Browse 104 Market Data Tables and 50 Figures spread through 161 Pages and in-depth TOC on “Polymer Modified Cementitious Coatings Market by Flexibility, Composition, Polymer Type (Acrylic Polymers, Sbr Latex), Application (Non-Residential Buildings, Residential Buildings, Public Infrastructure) and Region-Global Forecast”
Polymer Modified Cementitious Coatings Market Key Players:
Major companies such as Arkema S.A. (France), Sika AG (Switzerland), Akzo Nobel N.V. (Netherlands), MAPEI S.p.A. (Italy), Compagnie de Saint-Gobain S.A. (France), and Fosroc International Limited (UAE) , Dow, Inc. (US) and H.B. Fuller Company (US) The Lubrizol Corporation (US), Organik Kimya Sanayi Ve Ticaret A.S. (Turkey), Pidilite Industries Limited (India), GCP Applied Technologies Inc. (US), Berger Paints India Limited (India), W. R. Meadows, Inc. (US), Evercrete Corporation (US), Indulor Chemie GmbH (Germany), The Euclid Chemical Company (US) and others are key players in the polymer modified cementitious coatingsmarket. These players have been focusing on developmental strategies, such as expansions, acquisitions, partnerships, joint veture, and new product developments, which have helped them expand their businesses in untapped and potential markets.
Arkema S.A. (France) is one of the leading producers of specialty chemicals and advanced materials in the world. The company offers its products to various industries, such as construction, packaging, chemical, automotive, electronics, food, and pharmaceuticals. It offers cementitious coating products through its subsidiary, Bostik. The subsidiary provides construction products based on polymer modified cementitious binders including tile adhesives and grouts, floor screeds, and leveling compounds. The company adopts growth strategies to increase its market share. For instance, in Decemer 2018, The company acquired LIP Bygningsartikler AS (LIP), the Danish leader in tile adhesives, waterproofing systems, and floor preparation solutions through its subsidiary, Bostik. With this acquisition, the company is able to meet customer demand in the Nordic countries.
Akzo Nobel N.V. (Netherland) is a leading producer of paints & coatings and specialty chemicals. The company operates through two segments, namely, Performance Coatings and Decorative Paints. It offers cementitious coating products under its Performance Coatings segment which produces automotive and aerospace; industrial; marine and protective; and powder coatings. The company offers products for various end-use industries, such as building & infrastructure, transportation, and consumer goods. . The company has halted its production lines and suspended their financial expectations for 2020 due to significant market disruption resulting from the Covid-19 pandemic. This has impacted the company’s operations across the globe and is expecting improvements from the second quarter in most of the countries.
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Compagnie de Saint-Gobain S.A. is one of the major players in the construction chemical industry with a strong foothold in Europe and North America. The company currently focuses on strengthening its position of polymer modified cementitious coatings in the Asia Pacific region by adopting growth strategies. For instance, the company partners with SCG Cement-Building Materials in Thailand to develop a modular bathroom solution that incorporates Saint-Gobain Weber tiling and waterproofing solutions. This has helped the company to establish its presence in Thailand and strengthen its position in the Asia Pacific region.
The polymer modified cementitious coatings market is estimated at USD 1.1 billion in 2020 and is projected to reach USD 1.5 billion by 2025, at a CAGR of 6.5% from 2020 to 2025. The growing demand for polymer modified cementitious coatings from the non-residential buildings, residential buildings, and public infrastructures for waterproofing is expected to drive the polymer modified cementitious coatings market. Outbreak of COVID-19 has led to shut down of operations and production of polymer modified cementitious coatings as its manufacture was not considered under the critical infrastructure and as essential goods and services.
Based on flexibility the market is segmented by flexible and non-flexible polymer modified cementitious coatings. The flexble segment is expected to drive the market during the forecast period. The growth can be attributed to superior properties such as high eleongation and high tensile strength. The flexible polymer modified cementitious coating material has denser structure, better waterproofing performance, and excellent durability compared to non-flexible or rigid cementitious coatings which is also triggering the market growth.
Based on polymer type, the acrylic polymer is expected to be the fastest-growing segment in the polymer modified cementitious coatings market during the forecast period. Asia Pacific and Middle East & Africa are the major markets for the acrylic polymer, as there is a huge demand for contruction of residential buildings in the regions.
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Based on application, the residential buildings segment is expected to be the largest segment during the forecast period. In residential buildings, polymer modified cementitious coatings are widely used in kitchens, bathrooms (wet rooms), and balconies for roofing, wall coatings, and flooring. Moreover, the low cost of the polymer modified cementitious coatings is also fueling the demand in residential buildings.
The polymer modified cementitious coatings market in Asia Pacific is expected to grow at the highest CAGR during the forecast period, owing to the rising demand for waterproofing solution and increasing construction activities in China and India. In addition, the growth can be attributed to the increasing demand for polymer modified cementitious coatings from various application such as non-residential buildings, residential buildings, and public infrastructures.