The global polyurea coatings market, as per a report by Market Research Future (MRFR) is touted to register a healthy CAGR during the forecast period (2020-2030)

Surging investments in the development of infrastructure and significant boom in the paints & coatings industry globally are set to accelerate the polyurea coatings market during the review period. Rising consumer awareness regarding the extensive use of high-quality waterproofing coating in residential buildings is further estimated to augment the market growth in the next few years. The market has witnessed a tectonic surge over the past few years due to rising use of containment solutions in construction and mining owing to the increased focus on environmental protection. Increased use of waterproofing membranes in the construction sector is further influencing the usage of polyurea as a raw material in the manufacturing of finished products. Polyurea is also highly used due to its high aesthetic value. Such factors trigger the demand from the market across the globe.

Competitive Dashboard

The top players operating in the polyurea coatings market include The Sherwin-Williams Company (U.S.), VersaFlex Incorporated and The Polyurea People (U.S.), Rhino Linings Corporation. (U.S.), PPG Industries, Inc. (U.S.), Huntsman International LLC. (U.S.), KUDKO CHEMICAL CO. LTD. (South Korea), Rust-Oleum (U.S.), Armorthane (U.S.), Lse Building Preservation Ltd (U.K.), and SPI Performance Coatings (U.K).

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On the contrary, the proliferation of polyaspartic and polyurethane coatings due to attributes such as low wear & tear will pose a credible threat to the entire polyurea coatings market. Also, predominant consumption of epoxy-based coatings due to its low price will deter the market growth in the foreseeable future.

Global Polyurea Coatings Market: Segmental Analysis

The global polyurea coatings market has been segmented on the basis of raw material, type, technique, end use industry.

By type, the market is segmented into hybrid polyurea coatings and pure polyurea coatings. Of these, the hybrid polyurea coatings segment will acquire the largest share owing to its low cost, superior compatibility with concrete and metal structures, and excellent abrasion and moisture resistance in industrial, building & construction, chemical, and automotive industries.

By raw materials, the market is segregated into aliphatic isocyanate and aromatic isocyanate. Of these, the aromatic isocyanate-based polyurea coating commands the largest share owing to the low cost of the product.

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Considering the technique segment, the market is classified into pouring, spraying, and hand mixing. Among these, the spraying technique held the largest share in 2017 owing to several benefits over other techniques like less application time, uniform coating thickness, and increase performance efficiency.

The end use industry of the polyurea coatings market comprises automotive, building & construction, chemical, industrial, and others. Among these, the building & construction segment dominated the global market in 2017 and is estimated to continue leading the market owing to broad range of applications in waterproof roofing, waterproofing buildings, decks, car parking, bridges, containment liners, and offshores due to properties like moisture resistance, high weather resistance, abrasion resistance, and corrosion resistance properties.

Market Dynamics:

Drivers:

Rising demand from the construction industry and the adoption of regulations in VOC emissions are the major driving factors of the polyurea market. The increasing popularity of eco-friendly products is propelling the market growth. Growing demand from the transportation, building & construction, industrial & chemical industries is predicted to boost the polyurea coating market growth. These coatings have numerous applications in the building & construction industry like sewage pits, floor coverings, pedestrian footpaths, bridges, truck linings, and many more.

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Restraint:

Availability of alternatives as epoxies are costs low compared to polyurea coatings is restraining the market growth. Moreover, it can last three to five times longer than the conventional coatings that make it cost-effective.

Opportunities:

The advanced technologies in polyurea coatings result in the availability of microbial agents that prevents the product from degrading which is an opportunity to accelerate the market growth.

Challenges:

Existing coating technologies and raw materials are the challenges of the global market.

Regional Frontiers

Geographically, the polyurea coatings market spans across North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.

Considering the global scenario, North America will acquire the lion’s share due to the increasing repairing and renovation activities in the region. Owing to looming infrastructure renovation projects in the U.S., the market is likely to gain a major boost in the long run.

Europe acquires the second position in the global market, mainly due to increased demand for polyurea coatings from the established players of the automotive industry. Strict mandates imposed against the use of products with high VOC content has further encouraged the market growth in the region.

The Asia Pacific will expand at the fastest rate owing to rising investments, especially in the emerging nations. Also, rapid urbanization and industrialization in the region have influenced the market growth to a large extent. The presence of huge automobile industry in China is further adding fuel to the demand from the market. The building and construction industry in the APAC is experiencing a major expansion, which is likely to brighten prospects for the market.

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Links:

https://www.marketresearchfuture.com/reports/polyurea-coatings-market-5956

https://www.marketresearchfuture.com/press-release/polyurea-coatings-market

https://www.grandviewresearch.com/industry-analysis/polyurea-coatings-market

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