Rubber coatings market forecast at $13 billion by 2033

Pune, India – The global rubber coatings market was estimated to reach a valuation of USD 6.8 Billion in the year 2022. With a steady CAGR of 6.2% from 2023 to 2033, this market is expected to reach USD 7.2 Billion by 2023 and USD 13.14 Billion by 2033 according to Future Market Insights.

Numerous product types, including neoprene, silicon rubber, butyl rubber, EPDM, and fluoroelastomers, to mention a few, are available in the form of rubber layers and are used up as rubber coatings across various end-use industries. The layered medium must be taken into account when choosing a rubber finish material. Rubber coverings are more effective due to their durability in serious environmental issues as well as their resilience to wear and tear.

According to Future Market Insights, both synthetic and all-natural rubber are used in the creation of rubber coatings, however artificial rubber is more frequently used than all-natural rubber. Synthetic polymer finishes are widely used to provide safety coatings on a variety of objects, as well as in caulking and weather-proofing, due to their practical nature. Rubber layers are pliable, strong, and anti-corrosive. They also effectively block out noise. Rubber coverings are often used across a variety of industries, including automotive, aquatic, chemical, and petrochemical. Hence, owing to these positive factors, the global rubber coatings market is expected to gain significant traction during the forecast period of 2023 to 2033.

Concrete and metal are prominent materials used in the building and construction industry, but exposure to adverse weather conditions raises the risk of rust. Rubber coatings are therefore necessary for degradation protection in the construction industry. Therefore, the key factor driving the growth of the industry of rubber coatings is the expansion of the building, structure, and construction industries due to the rising population and rapid urbanization. The automotive and transportation industries are putting a lot of emphasis on anti-corrosion covers. As a result, the market for rubber coatings is anticipated to benefit from the growth in the vehicle manufacturing sector as well.

The expansion of the petrochemical, chemical, electricity, and automotive industries in the Asia Pacific area has been accelerated by rapid industrial development. Additionally, due to factors like population growth and urbanization, the Asia-Pacific area has seen an increase in construction projects. Rubber coatings are thus thought to have a good future in the Asia Pacific region. A prosperous market may be ascribed to nations like the United States and Canada as well as several European nations. The rapid economic expansion and rise in building activity in Latin America make it a viable market for rubber coatings. The Middle East and Africa are sizable markets for rubber due to the region’s significant oil and gas market visibility, increasing building and construction projects, and expanding commercial duties. Such growth can bring up new opportunities for the global market of rubber coatings during the forecast period.

Key players have been inventing many innovative technologies for various rubber coatings across the globe. For example, In BASF’s range, sustainable and cutting-edge materials have already been firmly established. They are extending their offering to include rubber coating technologies for extremely flexible substrates, such as shoe soles as well as uppers, including their most recent innovations, NovaCoat-P, NovaCoat-D, and NovaFlex valure TM. An extremely elastic in-mold coating with extra features is called NovaCoat-D. In addition to extending the lifespan of the product, its other features shield the PU foam from damaging external factors including sunshine, scratches, and dirt. This coating is offered in a wide range of hues and effects. Thus, such a wide range of products and usages will accelerate the market growth in the next ten years globally.

Examples of some of the market participants operating in the global Rubber coatings market are:

BASF SE, DuPont, SABIC, Shin-Etsu Chemical Co., Ltd., Axalta Coatings Systems, PPG Industries, Inc., Akzo Nobel NV, Polycorp Limited, BERLAC MEXICO and Sherwin Williams Company among others.

The Rubber coatings market research report presents a comprehensive assessment of the Rubber coatings market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.