Pune, India -- (SBWIRE) -- 10/03/2018 -- Polyurea coating is a type of coatings, which are applied to improve the performance efficiency of the substrate. It is produced by reacting isocyanate with resin blend that forms a rubber-like substance, which coats the substrate. It is compatible with various substrates such as concrete, metals, wood, and others in a wide range of temperature and humidity. Furthermore, it is eco-friendly and does not contain any volatile organic compounds (VOC). Various conventional coatings are available in the market such as epoxy, vinyl ester, PU, and polychloroprene coating. Polyurea coating provides several advantages over conventional coatings such as fast curing, high coating thickness, and extreme weather resistance to high humidity and low temperatures. Moreover, it impart superior durability, abrasion resistance, corrosion resistance, waterproofing, chemical resistance, decoration, and structural enhancement than conventional coatings. This coating is available in water-based formulations and variety of color and designs. Similar to conventional coatings, polyurea coating requires surface preparation such as sandblasting or priming prior to its application. Technological innovations have led to the availability of antimicrobial agents in polyurea coatings, which prevent the product from degrading.
Key Company analysis to 2023
Competitive Analysis Some of the key players in the global polyurea coatings market are VersaFlex Incorporated and The Polyurea People (U.S.), The Sherwin-Williams Company (U.S.), PPG Industries, Inc. (U.S.), Rhino Linings Corporation. (U.S.), KUDKO CHEMICAL CO. LTD. (South Korea), Huntsman International LLC. (U.S.), Armorthane (U.S.), Rust-Oleum (U.S.), SPI Performance Coatings (U.K), and Lse Building Preservation Ltd (U.K.).
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Regional Analysis
The global Polyurea Coatings Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. North America is expected to be the largest market for polyurea coatings across the globe followed by Europe, which is further trailed by the Asia Pacific. However, Asia Pacific is expected to be a fastest growing market for polyurea coatings owing to the huge growth potential of emerging economies. The Middle East & Africa is expected to witness a steady demand for polyurea coatings over the forecast period. Latin America is expected to exhibit a significant demand for polyurea coatings in the coming years.
Segmentation Analysis
The global polyurea coatings market is segmented by type, raw material, technique, end-use industry, and region. On the basis of the type, the global polyurea coatings market is bifurcated into pure polyurea coatings and hybrid polyurea coatings. The hybrid polyurea coatings are projected to hold the largest share of the market due to its low cost, excellent moisture & abrasion resistance, and superior compatibility with metal & concrete structures for applications in building & construction, industrial, automotive, and chemical industry. On the basis of the raw material, the global polyurea coatings market is segmented into aromatic isocyanate and aliphatic isocyanate. The aromatic isocyanate-based polyurea coating is accounted for the largest share of the raw material used category due to the low cost of the product.
LIST OF TABLES
Table 1 Global Polyurea Coatings Market: By Region, 2018-2023
Table 2 North America Polyurea Coatings Market: By Country, 2018-2023
Table 3 Europe Polyurea Coatings Market: By Country, 2018-2023
Table 4 Asia-Pacific Polyurea Coatings Market: By Country, 2018-2023
Table 5 Middle East & Africa Polyurea Coatings Market: By Country, 2018-2023
Table 6 Latin America Polyurea Coatings Market: By Country, 2018-2023
Table 7 Global Polyurea Coatings Type Market: By Regions, 2018-2023
Table 8 North America Polyurea Coatings Type Market: By Country, 2018-2023
Table 9 Europe Polyurea Coatings Type Market: By Country, 2018-2023
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Rising popularity of environment-friendly products is expected to boost the demand for polyurea coatings over the forecast periods. High demand from the building & construction, transportation, industrial, and chemical industry are expected to drive the global polyurea coatings market over the forecast period 2018-2023. Polyurea coatings have numerous applications in the building & construction industry such as playground fixtures, waterproof tank linings, asbestos encapsulation, pipeline coatings, tunnels, pedestrian footpaths, floor coverings, sewage pits, bridges, tanks, truck linings, and secondary containments. Additionally, polyurea coatings are also employed in chemical industries due to its superior chemical resistance properties.