Increasing opportunities in Asia Pacific, particularly in India and China are the major factors influencing market growth.
New York, NY -- (SBWIRE) -- 04/19/2021 -- 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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The Key Companies Profiled in the Market are:
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 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 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 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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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.
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)
Aromatic
Aliphatic
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)
Spraying
Pouring
Hand-mixing
Substrate Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
Wood
Metal
Ceramic
Other
Applications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Million; 2018-2026)
Building & Construction
Transportation
Industrial
Others
Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Million; 2018-2026)
North America
U.S.
Europe
Germany
UK
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East & Africa
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Polyurea coatings Market Segmentation & Impact Analysis
4.1. Polyurea coatings Segmentation Analysis
4.2. Polyurea coatings Market Value Chain Analysis, 2018-2026
4.3. Regulatory framework
4.4. Recent Developments
4.5. Polyurea coatings Market Impact Analysis
4.5.1. Market driver analysis
4.5.1.1. Increasing demand of hybrid polyurea
4.5.1.2. Growth of construction and shipbuilding industries
4.5.1.3. Rise in awareness regarding superior physical properties of polyurea coatings
4.5.1.4. Rapid urbanization & industrialization in the developing economies
4.5.2. Market restraint analysis
4.5.2.1. High costs of polyurea coatings
4.5.2.2. Requirement of expensive equipment for coating application
4.6. Key opportunities prioritized
4.7. Polyurea coatings Pricing Analysis
4.8. Industry analysis - Porter's
4.9. Polyurea coatings PESTEL Analysis
…………………
Chapter 12. Company Profiles
12.1. BASF
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Insights
12.1.4. Strategic Initiatives
12.2. PPG Industries
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Insights
12.2.4. Strategic Initiatives
12.3. Polycoat Products
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Insights
12.3.4. Strategic Initiatives
12.4. Krypton Chemical
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Insights
12.4.4. Strategic Initiatives
Continued……
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