Market Scenario
Polyurea Coatings Market is expected to reach USD 2392.7 Million by 2026 from USD 692.4 Million in 2016 at a CAGR of 13.2%.
Polyurea coating is durable, exhibits high resistance from corrosion and is flexible in nature. Polyurea coatings find wide application in construction, infrastructure, manufacturing, automobiles, and marine industries. Moreover, due to the zero VOC content of polyurea coatings, demand for traditional coatings such as polychloroprene, epoxy, and polyurethane has decreased substantially. Polyurea coatings demand from the oil & gas and chemical industries, owing to the high hydrocarbon and gas resistance properties has increased.
Polyurea Coatings Market
Polyuria market based on type has been segmented into pure and hybrid polyurea. Hybrid polyurea segment holds major share in the market while pure polyurea segment is expected to grow at a high CAGR during the forecast period. Hybrid polyurea coatings segment has wide application in flooring, marine applications, and bed liners in trucks.
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Based on technology, polyurea market is segmented into spraying, pouring and hand mixing. Spraying technology segment is widely utilised by the end-user.
Based on application, the building & construction segment is expected to hold major share of the market during the forecast period. Expansion in infrastructural development and the building & construction industry in the Asia-Pacific region are factors driving the growth of the polyurea coatings market.
