Global polyaspartic coatings was pegged at US$463.5 mn in 2016. Expanding at a CAGR of 6.6% for the 2016-2025 forecast period, the market is anticipated to be worth US$819.0 mn by 2025.
Albany, NY -- (SBWIRE) -- 01/18/2018 -- Market Research Hub (MRH) has freshly publicized a new study titled "Polyaspartic Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025" to its wide repository, which aims to provide major insights on the market's growth throughout the above-mentioned forecast period in terms of volume and revenue (in US$ Mn). This 291-pages research study predicts that the global polyaspartic coatings was pegged at US$463.5 mn in 2016. Expanding at a CAGR of 6.6% for the 2016-2025 forecast period, the market is anticipated to be worth US$819.0 mn by 2025.
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Polyaspartic coatings display features of high durability and hardness that make them preferable over commonly used coatings such as epoxy and polyurethanes. They are widely used for protecting steel structures from corrosion and also used in various commercial, automotive, and power generation industry. They emit low VOC as compared to their counterparts and are highly durable in nature. polyaspartic coatings doesn't turn yellow and require less curing time as well as maintenance compared to epoxy, polyurethane, etc. coatings.
Geographical Expansion and Major Insights
Moreover, the research also analyses market expansion in major regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume and revenue for end-user and technology type segments. It has been analyzed that North America held a significant share in the polyaspartic coatings market in 2016 vis-à-vis volume. It is also expected to remain same in the future also. Stringent building regulations and focus on curbing VOC emissions have been key factors for the adoption of polyaspartic coatings in North America.
The study provides a comprehensive view of the polyaspartic coatings market by dividing it into following types: by Technology, by End-user. By technology, it covers water based, solvent based, and powder based. Of these, solvent based technology currently displays leading demand in the market. On the basis of end-user, the market has been segmented into Transportation, Construction, Power Generation and others. Construction and transportation both are the leading end-use segments of polyaspartic coatings market. These coatings are chiefly used for the protection of steel and concrete in construction undertakings.
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It has been also analysed that Polyaspartic coatings several attractive properties such as UV stability and high abrasion resistance make them highly demandable. Key players in the market are also adopting various strategies to remain competitive in the market. At present, Cipy Polyurethanes Pvt. Ltd, Sika Corporation, Akzo Nobel N.V, Covestro AG, The Sherwin Williams Company, PPG Industries, and Rust-Oleum Corporation are major players functioning in this market.
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