Investments & Expansions and New Product Launches Were the Key Strategies Adopted by the Industry Players in Order to Achieve Growth in the Elastomeric Coating Market
The elastomeric coating market is dominated by regional players, along with the presence of few global players, in the key growth markets. North America is the largest market in the global elastomeric coating industry.
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The major companies operating in the global
elastomeric coating market are BASF SE (Germany), Henry (U.S.), Dow
Corning Corporation (U.S.), Progressive Painting Inc. (U.S.), Sherwin
Williams (U.S.), Clariant Chemicals (Switzerland), PPG Industries
(U.S.), Nippon Paints (Japan), Jotun A/S (Norway), Rodda Paints (U.S.),
and others.
Investments & expansions and new product launches
were the key strategies adopted by the industry players in order to
achieve growth in the elastomeric coating market. These strategies
accounted for about 47% and 33% share, respectively, of all growth
strategies adopted by the market players. Rising demand for elastomeric
coating and high growth in the construction industry in developing
countries have encouraged companies to adopt these strategies.
The key players are focusing on entering new markets
by launching technologically advanced and innovative elastomeric coating
and resins for different technologies systems. The Dow Chemical Company
(U.S.), Nippon Paints (Japan), and Rodda Paints (U.S.) are some of the
leading market players that adopted this strategy in order to develop
their business.
Besides new product launches and investments &
expansions, companies adopted the strategies of joint ventures,
partnerships, contracts, and agreements and mergers & acquisitions
in order to expand their market share and distribution network. These
two strategies accounted for a share of about 13% and 7% of the total
number of growth strategies adopted by the players in the elastomeric
coating market between 2011 and 2016.
In 2014, Dow Construction Chemicals (DCC), a business
unit of The Dow Chemical Company, launched a new high performance, 100%
acrylic re-dispersible powder, DLP-500. Due to this, Dow entered a new
market with dry acrylic powder that is designed specifically for
Exterior Insulation Finish Systems (EIFS) and stucco finishes.
Jotun (Norway) opened its regional research and
development (R&D) facility in China. The new R&D facility is
focused on the creation and development of products for coatings and
paint.
Also, in 2012, Jotun (U.S.) opened its regional
research and development (R&D) facility in China. The new R&D
facility is focused on the creation and development of products for
coatings and paint.
In 2014, Sherwin-Williams (U.S.) formed a joint
venture to launch Premier Paints Company in Saudi Arabia. This joint
venture, between Sherwin-Williams and Red Sea Housing Services Company
(Saudi Arabia), launched Premier Paints Company, which will serve
customers in the architectural, energy, and construction sectors in the
region.
