Coatings, Adhesives & Sealants, and Elastomers (C.A.S.E.) Market Assessment, By Product Type [Coatings (Polyurethane Coatings, Acrylic Coatings, Epoxy Coatings, Others), Adhesives & Sealants (1-part, 2-part), Elastomer (Ethylene Propylene Diene Monomer, T

Coatings, Adhesives & Sealants, and Elastomers (C.A.S.E.) Market Assessment, By Product Type [Coatings (Polyurethane Coatings, Acrylic Coatings, Epoxy Coatings, Others), Adhesives & Sealants (1-part, 2-part), Elastomer (Ethylene Propylene Diene Monomer, Thermoplastic Polyolefin , Styrene Butadiene Rubber , Others)], By Application [Windows, Roofs, Automotive Substrate, Tires, Others], By End-use Industry [Building & Construction (Residential, Commercial, Industrial, Infrastructure), Transportation (Automotive, Aerospace, Marine, Locomotive), Textile, Others], By Region, Opportunities, and Forecast, 2016-2030F

Global Coatings, Adhesives and Sealants, and Elastomers (C.A.S.E.) Market size was valued at USD 207.7 billion in 2022, which is expected to grow to USD 277.76 billion in 2030 with a CAGR of 3.7% during the forecast period between 2023 and 2030. The rapid growth in the building & construction activities for structures such as hospitals, malls, residential buildings, airports & others, along with the bolstering of transportation, are the primary determinants fostering the adoption of coatings, adhesives & sealants, and elastomers, thereby accelerating the market growth.

The increase in residential construction project development, the rising investment in infrastructure construction projects, and others are the prime aspects accelerating the growth in new building and construction project development. In addition, the increase in the demand for hybrid vehicles recently launched aircraft manufacturing facilities, and others are key trends driving the growth of the transportation sector. Thus, the revenue advancement of various end-use industries, including building & construction and transportation, is amplifying the demand for coatings, adhesives & sealants, and elastomers (C.A.S.E.) to prevent oxidation and corrosion, which, in turn, is propelling the market growth.

Booming Building & Construction Projects at Global Level Fosters Market Growth

Coatings, adhesives & sealants, and elastomers are utilized in construction substrates such as concrete, wood, roofs, and others to safeguard the structures from the elements and to enhance their durability. Furthermore, the 2-part adhesives and sealants increase soundproofing and insulating functions. Thus, coatings, adhesives & sealants, and elastomers are deployed in row houses, schools, warehouses, and other structures. The rapid expansion in the demand for larger commercial spaces, the ongoing development of new office buildings, and others are the prominent determinants spurring the growth of the building & construction activities.

For instance, in 2023, various commercial construction projects commenced in various countries, including Bengaluru Retail and Entertainment Complex Development, India (project completion year 2025), million Emirates: New training facility, United Arab Emirates (project completion year 2024), and others. Hence, the booming building and construction projects are boosting the demand for coatings, adhesives & sealants, and elastomers (C.A.S.E.) to provide excellent stress recovery, which, in turn, is supplementing the market growth.

Rising Adoption of Coatings is Boosting the Revenue Growth of the Market

The vital properties of coatings are superior corrosion resistance, enhanced safeguard against abrasion, protection against external elements, and others. Thus, the coatings are crucial for ensuring improved performance of surfaces, aesthetics, and others. Polyurethane coatings and acrylic coatings are employed in various end-use industries such as building & construction, transportation, and others. The development of a new range of water-based coatings to ensure superior sustainability is increasing the product availability in the market.

For instance, in February 2023, Siegwerk Druckfarben AG & Co. KGaA, a coatings manufacturer in Germany, launched UniNATURE Water-Oil Barrier Coating, a new range of water-based coatings. Thus, the rise in the deployment of coatings and the recent introduction of water-based coatings favor the market growth.

The Significant Share of the Asia Pacific in the Overall Market is Supplementing Market Growth

The economic growth of the Asia Pacific is driven by the revenue expansion of various end-use industries, including building & construction, textile, and others. The above-listed end-use industries are the major end users of coatings, adhesives & sealants, and elastomers (C.A.S.E.), spurring market growth.

For instance, according to the India Brand Equity Foundation (IBEF), as of October 2023, various infrastructure development projects valued at USD 1.3 trillion (INR 108 trillion) are currently in development. As a result, the increase in building & construction activities, the surging production of vehicles, and others are the vital trends driving the deployment of coatings, adhesives & sealants, and elastomers (C.A.S.E.) in the Asia Pacific region, thereby augmenting the market growth.

Future Outlook

The tire manufacturing companies are forming partnerships with the adhesives & sealants manufacturers to develop a new range of sustainable sealants. For instance, in June 2022, Bridgestone Americas, a United States-based tire manufacturer, formed a strategic collaboration with Dow to develop a new range of sustainable sealants. The B-SEALS will be silicone-based sealants. Henceforth, the strategic collaborations will accelerate the development of a new range of sealants, thereby creating a lucrative opportunity for market growth.

The coatings manufacturers are investing in the development of new coating plant setups to increase their market share at the global level. For illustration, in August 2023, Colorcon, Inc., a global player in the coatings market, commenced the development of a new coatings manufacturing plant in Malaysia. The construction of a coating production facility in Malaysia will be completed by 2025. Therefore, the development of new coatings plants will increase the supply of products, thereby creating a favorable coating, adhesives and sealants, and elastomers (C.A.S.E.) market growth outlook.

The future infrastructure development projects associated with redeveloping bridges, airports, and others will foster the building & construction industry growth in the upcoming years. For instance, as of September 2023, Canada's George Massey Tunnel Replacement project is under the planning phase. The construction of the project will be completed by the end of 2030. Thus, the growth of the building & construction projects in the upcoming years will create a prominent potential for the coatings, adhesives and sealants, and elastomers (C.A.S.E.) market traction.

Key Players Landscape and Outlook

The key players in the coatings, adhesives and sealants, and elastomers (C.A.S.E.) market are Stepan Company, Arkema, BASF SE, and Huntsman International LLC., among others. These companies are involved in the manufacturing and supply of coatings, adhesives & sealants, and elastomers (C.A.S.E.) products, including 2-part adhesives, polyurethane coatings, and others are leveraging their potential in strategies, including technology innovation, acquisitions, product innovations, facility developmentto increase their market revenue and volume share in the global coatings, adhesives and sealants, and elastomers (C.A.S.E.) industry.

In November 2021, Belzona Inc., an adhesives & sealants manufacturer in the United States, introduced Belzona 7311, a new range of 2-part adhesives for structural bonding applications. The major focus of the launch was to increase the 2-part adhesives in the global market.