The global Polyurea coatings market is expected to reach USD 2.77 Billion by 2028, according to a new report by Reports and Data. This can be mainly contributed by the increasing demand for hybrid polyurea. The growth of construction and shipbuilding industries, coupled with the rapid urbanization industrialization in the developing economies, will positively impact the growth of the market. Moreover, rise in awareness regarding superior physical properties of polyurea coatings will also be a major driving factor to the market growth.
Polyurea coatings have an advantage of moisture insensitivity or barrier over other coatings. These coatings are a combination of the properties, including, rapid curing, impervious to wear and tear due to ambient humidity, and moisture in the substrate surfaces. Polyureas are flexible to water and have low permeability, which is ideal for moisture barrier applications.
Top Companies Operating in the Global Polyurea Coatings Market:
The Sherwin-Williams Company, VersaFlex Incorporated and The Polyurea People, Rhino Linings Corporation. , PPG Industries, Inc., Huntsman International LLC., KUDKO CHEMICAL CO. LTD., Rust-Oleum, Armorthane, SPI Performance Coatings, and Lse Building Preservation Ltd.
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Further key findings from the report suggest
- The market is segmented on the basis of isocyanate type into aromatic isocyanate and aliphatic isocyanate.
- The growth of aliphatic isocyanate-based coating is forecasted to witness a higher CAGR of 16.1% during the forecast period.
- The properties of aliphatic-based coatings, including UV radiation resistance, high tensile abrasion strength, gloss retention and color stability, and high finishing quality, will fuel the growth of the segment.
- The market is segmented on the basis of product into pure polyurea and hybrid polyurea.
- Pure polyurea is forecasted to grow with the higher rate of 16.2% during the forecast period, due to its demand in the construction industry, especially for bridges, parking deck structures, exterior basement waterproofing, and pilings.
- The market is segmented on the basis of technology into spraying, pouring, and hand mixing.
- Spraying accounts for the largest market share of ~45% in the year 2020. The technique is machine based, hence reduces the application time, and increases the efficiency.
- The market is segmented on the basis of substrate into wood, metal, concrete, and others.
- Concrete substrate accounts for the largest market share of ~40% in the year 2020. These coatings are widely used in waterproofing concrete surfaces and for protecting them from salts, water, and chemicals, which can cause damage to the concrete structures.
- The market is segmented on the basis of applications into building construction, Transportation, industrial, and others.
- The industrial application is forecasted to witness the highest CAGR of 17.7% during the forecast period, due to rapid urbanization and industrialization in the emerging economies.
- The coatings are for applications such as tank coatings linings, pipe coatings, sewer linings, utilized for wastewater treatment, water tanks, pipeline restoration, and molded parts.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America and MEA.
- The Asia Pacific region is forecasted to exhibit the highest growth rate of 16.3% in the forecast period, owing to the expansion in the construction and automotive industries in the region.
- Furthermore, the availability of less expensive raw materials and low labor cost in the region is another factor contributing to polyurea coatings market growth.
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Polyurea Coatings Market Segmentation
Isocyanate type Outlook (Volume, Kilo tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Product Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Pure polyurea
- Hybrid polyurea
Technology Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
Substrate Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
Applications Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Building Construction
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Polyurea Coatings market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Polyurea Coatings market.
The global Polyurea Coatings market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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