Luton, Bedfordshire, United Kingdom, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Polymer Modified Cementitious Coating Market.
The polymer modified cementitious coatings market is estimated at USD 1.3 billion in 2022 and is projected to reach USD 2.17 billion by 2029, at a CAGR of 6.6 % from 2023 to 2029.
Polymer-Modified Cementitious Coating (PMC) is a dual component that protects concrete and steel components against corrosion. The primary substrate is cement, which attaches to the surface using a polymer combination. They are commonly used for waterproofing and corrosion prevention. Residential construction activities need waterproofing, boosting the PMC market. The growth of architectural sector in conjunction with construction promotes the expansion of global polymer-modified cementitious coatings market.
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- In December 2, 2022- AkzoNobel completes acquisition of Lankwitzer Lackfabrik’s aluminum wheel liquid coatings business
- AkzoNobel has completed the acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, a deal which strengthens the company’s performance coatings portfolio.
- In March 2020 - W.R. Meadows, Inc., initiated a new one-component polymer modified coating named Meadow-Patch Smooth-Grade for smoothening the rough surfaces, fills cracks and rectify any small surface defects of new or existing concrete surfaces.
Rapid urbanization and increasing construction of residential establishments are also stimulating the industry outlook. In fact, the U.S. Census Bureau stated that house ownership rates in the country increased to 64.5% in April 2022. Moreover, the same month witnessed sales of over 673,000 houses in the United States, which was an increase of 12.4% from 2022.
Favorable regulatory scenario such as housing schemes is aiding overall market expansion. According to IBEF (India Brand Equity Foundation), new housing unit launches in top seven cities in the country grew by 32% in the year 2022 to 193 thousand units. Similarly, over 8.09 million houses were approved under the PMAY (Pradhan Matri Awas Yojana) in May 2022.
- Growth in urbanization and industrialization
- Rapidly surging application in the public infrastructure
- Increasing infrastructure development in emerging economies
Growing Residential construction activities are rapidly increasing the demand of the market.
Residential construction activities are rapidly growing in India due to rising income and government focus on affordable housing for all. In 2022, the housing sector in India accounted for more than 5% of the country’s GDP. Thus, construction of residential buildings in India is propelling the polymer modified cementitious coating market. Rapid urbanization and industrial revolution have also boosted the growth of the global market. Along with construction and building, the global market for polymer modified cementitious coatings is being driven by the expansion of the architectural industry. Increased infrastructure spending in developing nations is accelerating the demand for polymer-modified cementitious coatings. Expansion of the commercial real estate in developing economies due to increase in construction of commercial buildings is expected to drive the polymer modified cementitious coating market, as it is widely used for external protection of buildings from weatherization. Residential construction activities are rapidly growing in India due to rising income and government focus on affordable housing for all. In 2022, the housing sector in India accounted for more than 5% of the country’s GDP. Thus, construction of residential buildings in India is propelling the polymer modified cementitious coating market. Rapid urbanization and industrial revolution have also boosted the growth of the global market.
|Market Size in 2029||USD 2.17 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, Product, End-User, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Polymer modified cementitious coating market is anticipated to expand at a rapid pace during the forecast period due to high product demand from the construction industry.|
|Construction of residential buildings in India is propelling the polymer modified cementitious coating market.|
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
The key players of market share are Arkema, AkzoNobel N.V., BASF SE, Celanese Corporation, Mapei S.p.A., The Lubrizol Corp., Fosroc International Ltd., The Dow Chemical Company, Pidilite Industries Ltd., etc.
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Key Market Segments: Polymer Modified Cementitious Coating Market
Polymer Modified Cementitious Coating Market By Polymer Type, 2023-2029, (USD Million), (Thousand Unit)
- Acrylic Polymer
- SBR Latex
Polymer Modified Cementitious Coating Market By Composition, 2023-2029, (USD Million), (Thousand Unit)
- One Component
- Two Components
Polymer Modified Cementitious Coating Market By Flexibility, 2023-2029, (USD Million), (Thousand Unit)
Polymer Modified Cementitious Coating Market By Application, 2023-2029, (USD Million), (Thousand Unit)
- Non-Residential Buildings
- Residential Buildings
- Public Infrastructure
Future Prospects for the Polymer Modified Cementitious Coatings Market
- The main factors influencing the growth of the PMCC market are the rise in infrastructure-related activities, the rising demand for PMCC in the Asia-Pacific region, and government initiatives to promote the use of PMCC. The biggest market for polymer-modified cementitious coatings is in the Asia-Pacific region, which is also predicted to experience the highest CAGR growth between 2023 and 2029. Due to rising population and rapid urbanisation, the construction industry in the Asia-Pacific area is anticipated to expand quickly.
- This is likely to drive the demand for polymer-modified cementitious coatings in the region. The main strategies employed by the major players between 2023 and 2029 allowed them to strengthen their position in the polymer-modified cementitious coatings market. These strategies included product launches and expansions. Fevicol CC 6501, a novel product from Pidilite Industries, was introduced in 2022. This product is an acrylic-based, polymer-modified cementitious covering that comes in a single component. It is employed to waterproof parking lots, terraces, balconies, and rooftops. In order to satisfy the growing demand for its products in the Asia-Pacific region, the company also increased the size of its manufacturing facility in India in 2022.
Polymer Modified Cementitious Coatings Market Dynamics
- Increasing demand for SBR-based polymer modified cementitious coatings
SBR-based polymer modified cementitious coatings find use in the waterproofing of sunshades, water containers, roof slabs, and sunken slabs. The tensile strength, flexibility, and elasticity of cement are all improved, and the likelihood of cracking is decreased. It is frequently used as a bonding substance in plastering and repair. Because SBR-based polymer modified cementitious coatings are widely used for external corrosion resistance against weatherization, it is expected that the growth and expansion of commercial real estate in the developing countries will have a positive effect on the market's growth.
- Growth and expansion of real estate market
The Middle East and Africa, as well as Asia-Pacific, are developing economies, and their real estate markets are growing and expanding. This has led to an increase in demand for polymer-modified cementitious coatings in the commercial and industrial construction sector. The development of the nation's construction and infrastructure industries will be a key market driver during the forecast era.
- Surging usage of polymer modified cementitious coatings in residential sector
Polymer modified cementitious coatings are typically two-part mixtures that are applied over solid surfaces, over masonry fixing, and behind tile. Due to their cementitious nature and firm holding qualities, these beneath and above grade waterproofing coatings have a strong affinity for stonework and cement surfaces. Furthermore, the flexibility characteristics are a result of the polymer-modified cementitious coatings. For both covered and uncovered waterproofing purposes, it is used as an impenetrable and consistent covering on a level rooftop in domestic buildings for cellars, underground solid structures, pits, basins, sumps, water holding structures, and so forth. Therefore, it is anticipated that there will be numerous opportunities for market development during the forecast period due to the rapidly increasing use of polymer modified cementitious coatings in the residential sector.
- Issues associated with polymer modified cementitious coatings
Market expansion will be severely hampered by the desire for raw materials not being available and the volatility of their prices. Additionally, the shelf life of polymer modified cementitious coatings ranges from 3 to 5 years, which is anticipated to limit market development from 2023 to 2029.
Key Question Answered
- What is the current size of the Polymer Modified Cementitious Coating market?
- What are the key factors influencing the growth of Polymer Modified Cementitious Coating?
- What are the major applications for Polymer Modified Cementitious Coating?
- Who are the major key players in the Polymer Modified Cementitious Coating market?
- Which region will provide more business opportunities for Polymer Modified Cementitious Coating in future?
- Which segment holds the maximum share of the Polymer Modified Cementitious Coating market?
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