The global Polyurea coatings market is expected to reach USD 2.40 Billion by 2026, 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.
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considered and profiled in this market study
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., among others.
These coating systems have outstanding temperature tolerances and heat resistance. Moreover, these are environmental friendly coatings, that is, they have negligible Volatile Organic Compounds (VOC) emissions, as well as, are odorless, making them both compliant with the strictest VOC and Environmental Regulations. However, expense of the coatings and the use of expensive equipment for applications of these coatings may hinder the growth of the market.
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 market is segmented on the basis of product into pure polyurea and hybrid polyurea.
- 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.
- 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.
- Furthermore, the availability of less expensive raw materials and low labor cost in the region is another factor contributing to polyurea coatings market growth.
- Spraying accounts for the largest market share of ~45% in the year 2018. 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 2018. 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 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 market is segmented on the basis of applications into building & construction, Transportation, industrial, and others.
- The companies have adopted various strategies including mergers, acquisitions and partnerships to hold on going trails and come up with new developments in the market.
- 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.
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For the purpose of this report, Reports and Data have segmented global Polyurea coatings Market on the basis of isocyanate type, product, technology, substrate, application, and region:
Isocyanate type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Million; 2018-2026)
Product Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
- Pure polyurea
- Hybrid polyurea
Technology Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
Substrate Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
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Applications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
- Building & Construction
Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Million; 2018-2026)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key selling points of this research study
1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.
2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector
3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.
4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.
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