Polymer Modified Cementitious Coatings Market
The global polymer modified cementitious coatings market size was USD 1.4 Billion in 2023 and is projected to reach USD 2.45 Billion by 2032, expanding at a CAGR of 8.5% during 2024–2032. The growth of the market is attributed to the increasing demand for enhanced coatings from the construction industry.
Increasing construction activities at a rapid pace is boosting the demand for polymer modified cementitious coatings within the construction industry. These coatings offer enhanced durability, flexibility, and water resistance compared to traditional cementitious coatings, making them increasingly preferred for various construction applications.
Compliance with stringent regulatory requirements and industry standards is another notable factor in the polymer modified cementitious coatings market. Manufacturers of building materials are focusing on ensuring that their products meet relevant quality, safety, and environmental standards to enhance building life and customer trust.
Polymer Modified Cementitious Coatings Market Dynamics
Major Drivers
The versatility of polymer modified cementitious coatings allows them to be used in a wide range of building applications, including new construction, renovation, and repair projects. Polymer modified cementitious coatings are suitable for both vertical and horizontal surfaces, offering seamless protection for various substrates, such as concrete, masonry, and metal.
These coatings offer superior durability and longevity compared to traditional cement-based coatings. They provide enhanced resistance to weathering, abrasion, chemical exposure, and cracking, making them ideal for protecting concrete structures in various environments. Furthermore, the rising infrastructural development across the globe drives the market.
Existing Restraints
Fluctuating prices of raw materials hampers the market. The coating industry relies heavily on raw materials. Minor changes in raw material prices greatly impact the profitability and operations of coating producers. Fluctuations in the price of crude oil and related derivatives, such as monomers and solvents, put pressure on manufacturers. In recent years, raw material expenses surged by nearly double digits, particularly evident in the increased prices of rutile and TiO2.
Emerging Opportunities
Increasing demand for customized and specialized polymer-modified cementitious coatings tailored to specific applications and end-user requirements create lucrative opportunities in the market. Manufacturers are offering a wide range of formulations, colors, textures, and finishes to meet diverse customer needs in sectors such as residential, commercial, and industrial construction. The polymer-modified cementitious coatings market is witnessing significant growth in emerging economies, driven by rapid urbanization, infrastructure development, and increasing construction activities. Rising construction activities in countries in Asia Pacific, Latin America, and the Middle East are further propelling the market.
Scope of the Polymer Modified Cementitious Coatings Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.
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Attributes
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Details
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Report Title
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Polymer Modified Cementitious Coatings Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2023
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Historic Data
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2017 -2022
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Forecast Period
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2024–2032
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Segmentation
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Flexibility (Flexible and Non-flexible), Composition (One-component and Two-component), Polymer Type (Acrylic Polymer, SBR Latex, and Others), and Application (Non-residential Buildings, Residential Buildings, and Public Infrastructure)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Aquafin Inc; Armstrong Chemicals Pvt Ltd; Arkema; Construction Chemicals; Durock Alfacing International Limited; Mapei SPA; and Ozeki Chemical Industry Co Ltd
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Polymer Modified Cementitious Coatings Market Segment Analysis
Flexibility Analysis
Based on flexibility, the polymer modified cementitious coatings market is divided into flexible and non-flexible.
The flexible segment held a large market share in 2023 and is projected to grow rapidly in the coming years. Flexible coatings have increased polymer concentration, which leads to a reduced coefficient of diffusion and resistance to a variety of chemicals, including chloride ions, sulfate ions, and carbon dioxide. The segment growth is further attributed to the exceptional waterproofing capabilities and remarkable durability provided by waterborne coatings when compared to their non-flexible counterparts.
The non-flexible segment is expected to expand at a significant pace during the forecast period, owing to its excellent rigidity compared to flexible coatings. These coatings are often preferred in applications where structural movement is minimal or non-existent, and where a rigid, durable surface is required. They are commonly used in environments where the risk of substrate movement is less, such as in certain industrial settings, infrastructure projects, or areas where static conditions prevail.
Composition Analysis
On the basis of composition, the market is bifurcated into one-component and two-component. The two-component segment held a major share of the market in 2023, as two-component systems are engineered to meet stringent regulatory requirements and industry standards for safety, environmental sustainability, and performance. This compliance is essential for projects subject to regulatory oversight or certification requirements. Two-component systems typically have a longer shelf life compared to one-component systems. This reduces waste and minimizes the need for frequent replenishment of coating materials.
The one-component segment is anticipated to hold a key share of the market during the forecast period. One-component systems are often preferred for their simplicity and ease of use. They are typically pre-mixed and ready to use, eliminating the need for precise mixing ratios and reducing the potential for application errors. This leads to time and cost savings during the coating process.
Polymer Type Analysis
Based on polymer type, the market is segmented into acrylic polymer, SBR latex, and others. The acrylic polymer segment is anticipated to expand at a high CAGR during the forecast period, owing to the widespread utilization of its various derivatives across diverse applications. Acrylic polymer, characterized by its transparency, durability, and stiffness, is extensively employed in architectural and construction coatings due to its availability in a spectrum of colors and finishes. These polymers are highly valued in the construction industry for their chemical purity, stability, high resistance to heat and UV radiation, low-temperature performance, and water resistance with hydrophilic coatings.
The SBR latex segment is projected to register a significant growth rate in the coming years. SBR latex improves the bond strength between cementitious materials and substrates, leading to improved adhesion and reduced risk of delamination or detachment. SBR latex improves the water resistance of cementitious materials, making them resistant to water penetration and moisture-related damage.
Application
On the basis of application, the market is fragmented into non-residential buildings, residential buildings, and public infrastructure.
The residential buildings segment dominated the market in terms of revenue generation in 2023, due to the increasing usage of polymer modified cementitious coatings for waterproofing basements, balconies, and roofs and protecting exterior walls to enhance the aesthetic appeal of interiors and exteriors. The segment growth is further attributed to the rising residential construction activities due to factors such as population growth, urbanization, and increasing disposable incomes. The rising construction and renovation of residential buildings boost the demand for polymer-modified cementitious coatings.
The non-residential buildings segment is anticipated to grow at a significant pace during the projected period. The non-residential building sector encompasses a diverse range of structures such as commercial buildings, industrial facilities, educational institutions, healthcare facilities, hotels, and recreational complexes. Non-residential buildings often have specific performance requirements, such as chemical resistance, fire resistance, or abrasion resistance. Polymer modified cementitious coatings are formulated to meet these specialized needs, making them suitable for a wide range of applications in commercial and industrial settings.
Regional Outlook
In terms of region, the polymer modified cementitious coatings market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
Asia Pacific is expected to hold a substantial share of the market during the forecast period, due to rapid urbanization in countries such as China, India, and Indonesia. These developing countries are emerging as global trade centers. The market growth in the region is further attributed to the increasing demand for advanced coatings in construction applications, including non-residential real estate, residential real estate, and public structures, in China, India, and South Korea.
The market in North America is anticipated to register a considerable CAGR during the projected period. The region’s growing emphasis on environmentally friendly construction practices driven by concerns about climate change and sustainability boosts the demand for enhanced coatings. Polymer-modified cementitious coatings that incorporate recycled materials, reduce carbon emissions, and offer long-term durability align with the region's sustainability goals and are increasingly preferred by architects, contractors, and building owners. Furthermore, the rising demand for construction chemicals in the region contributes to the market growth.
Segments
The polymer modified cementitious coatings market has been segmented on the basis of
Flexibility
Composition
- One-component
- Two-component
Polymer Type
- Acrylic Polymer
- SBR Latex
- Others
Application
- Non-residential Buildings
- Residential Buildings
- Public Infrastructure
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Aquafin Inc
- Armstrong Chemicals Pvt Ltd
- Arkema
- Construction Chemicals
- Durock Alfacing International Limited
- Mapei SPA
- Ozeki Chemical Industry Co Ltd
Competitive Landscape
Key players competing in the global polymer modified cementitious coatings market are Aquafin Inc; Armstrong Chemicals Pvt Ltd; Arkema; Construction Chemicals; Durock Alfacing International Limited; Mapei SPA; and Ozeki Chemical Industry Co Ltd.
These players utilize several development strategies, including product launches, partnerships, acquisitions, and geographical expansion, to increase their global presence. For instance,
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In June 2023, Akzo Nobel unveiled an open-source online savings calculator tailored for the powder coatings industry to raise awareness about the product.
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In November 2022, Henkel Polybit Industries announced a partnership with Tadmur Trading, a subsidiary of Tadmur Holdings, which is a prominent entity in the construction sector. The partnership allows both companies to provide high-quality construction chemicals.
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