menu
Polyurea Coatings Market Size Forecast to Reach $1,477.89 Million by 2025
Polyurea Coatings Market Size Forecast to Reach $1,477.89 Million by 2025
"The Growing Building and Construction Industry and Increasing Infrastructural Development, Especially in Developing Nations, Are Expected to Drive the Growth of the Polyurea Coatings Market. "

Polyurea Coatings Market size is forecast to reach $1,477.89 million by 2025, after growing at a CAGR of 10.80% during 2020-2025. Polyurea coatings are derived from the reaction of isocyanate components and resin-blend. isocyanate components can be aromatic, aliphatic, polymer, or monomer. Products from the polyurea coatings have wide ranging applications as these Coatings are solvent-free and non-toxic. Their unique qualities such as temperature stability, favorable adhesion strength, high elongation, and water resistance are highly useful for crack bridging. Polyurea coatings have wide acceptability as they are environment-friendly and compliant with norms related to VOCs.

Polyurea Coatings Market Segment Analysis - By Raw Material

Aromatic segment held a significant share in polyurea coatings market in 2019. These coatings have good physical properties and easy process ability. Hence, aromatic systems are coated with aliphatic topcoats for desired color stability on exposure to UV light. The aromatic polyurea coatings also have high ability to retain their elastomeric physical properties which is likely to propel its demand over the forecast period. The aliphatic isocyanate-based polyurea coatings are likely to witness fastest growth over the forecast period on account of rapid technological advancement, superior physical properties as compared to aromatic polyurea coatings. These coatings are manufactured using aliphatic compounds such as isophorone diisocyanate (IPDI) and hexamethylene diisocyanate (HDI). Aliphatic compounds are light stable; however, they are more difficult to process and retail at a higher price as opposed to their counterparts. High demand across numerous application areas including wind energy, transportation, and mining industries is expected to drive the aliphatic compounds demand.

Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=16550

Report Price: $ 4500 (Single User License)

Polyurea Coatings Market Segment Analysis - By Type

Pure polyurea segment held a significant share in polyurea coatings market in 2019. Pure polyurea is derived from the chemical reaction of isocyanates and amine-terminated resins. Pure polyurea plays a vital role in determining the properties of the final coated surface. It has zero VOC content and is used widely due to its excellent performance properties, such as fast curing time, long pot life, outstanding chemical resistance, and moisture resistance. The pure polyurea coatings market is highly dependent on the growth of the end-use industries. The main applications of pure polyurea include roof coat, floor coat, and bonded area, among others.

Hybrid polyurea coatings are produced through two different chemical processes. They are produced through the chemical reaction of isocyanates, amine-terminated resins, and a hydroxyl functionality cross-linker or chain extender. Additionally, they are also produced through the chemical reaction of isocyanates, hydroxyl functional resins, and an amine-functional cross-linker or chain extender. Hybrid polyurea coatings are moisture and temperature-sensitive due to the catalyst used in their formation. They have excellent abrasion resistance and adhesion to metal and concrete body or structure. Polyurea hybrid coatings are cheaper than pure polyurea coatings and are typically used in the building & construction, industrial, and other applications.

Polyurea Coatings Market Segment Analysis - By Technology

Pouring segment held a significant share in polyurea coatings market in 2019. Pouring (used for many floors and roof coatings) is an emerging technology for polyurea coatings. Two components: isocyanates and resin blend are poured with the help of a pouring gun. The pouring gun helps in the accurate mixing of ingredients that are mixed with a static mixer. The increasing residential and home remodeling/reconstruction/ renovation activities in the building & construction end-use industry are expected to drive the polyurea coatings market in this segment.

The spraying technology segment holds the maximum percentage of the polyurea coatings market. In this technology, the two components—isocyanates and resin blend, are pumped through storage drums/barrels into the spraying machine. With the help of this machine, the two components are brought to the required processing parameters at the accurate mix ratio of 1:1. This mixture is then sprayed onto the surface. Spraying is the most widely used coating technology as it can be applied quickly and accurately on to the surface.

Polyurea Coatings Market Segment Analysis - By End User Industry

Building & Construction segment held a significant share in polyurea coatings market in 2019 growing at a CAGR of 10.97% during the forecast period. Polyurea coatings are used in a variety of substrates such as concrete, metals, and wood across a range of temperature and humidity environments, and are ideal for use in many waterproofing, corrosion control, immersion, and lining applications. These coatings are exclusively used for residential and commercial applications which are expected to have a positive impact on demand over the next eight years. High humidity resistance of the product increases its application scope in roofing, membranes, containment liners, decks, car parking, bridges, and offshores, thereby augmenting demand.

The prevailing pandemic situation has led to weakened demand for paints and coatings in Automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries.

Polyurea Coatings Market Segment Analysis - Geography

Asia Pacific dominated the polyurea coatings market with a share of more than 41%, followed by North America and Europe. The growth is mainly attributed to high economic growth, and substantial investment in industries, such as automotive, marine, building & construction, and manufacturing. APAC is an emerging economy with many rapidly developing countries. Various industry players are willing to invest in this region. Most of the leading players in North America and Europe are planning to shift their manufacturing base to APAC as it offers inexpensive raw materials, low cost of production, and the ability to serve the local emerging market in a better way. The APAC region is experiencing increased demand for premium and high-quality products due to the increasing disposable income of the middle-class population. This has led to an increased demand for polyurea coatings in the APAC market.

Polyurea Coatings Market Drivers

Growing use in end user industries

Polyurea coatings are primarily used for waterproofing and corrosion-protection purposes. Polyurea coatings are used for the waterproofing of roofs, walls, and floors in the building and construction industry. Polyurea coatings are also used as bridge coatings for corrosion protection as well as waterproofing. Therefore, the growing building and construction industry and increasing infrastructural development, especially in developing nations, are expected to drive the growth of the polyurea coatings market.

The demand for polyurea coatings across the landscape industry has increased significantly in the recent past. The applications include aquariums, pools, water parks, theme parks, reservoirs, facades, and bathtub & cabins, among others. Polyurea coatings protect against moisture damage and resistance to chemicals, abrasion, and corrosion to landscape structures. These coatings are expected to replace paint and fiberglass due to their beneficial properties, such as fast cure and the ability to reduce maintenance cycles.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=16550

Polyurea Coatings Market Challenges

Health effects

Polyurea coatings application process involves high health risks and requires skilled labour. The health risks associated with spraying and toxicity arising due to vapours of amines substrates and exposure to high pressure equipment is estimated to offer restraints to the growth of global polyurea coatings market. Additionally, construction industry faces problems with intercoat adhesion. These are often related to low quality of raw materials, manufacturing, and spray equipment. Innovations in the machine-based coatings are proving to be effective in solving these challenges.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the polyurea coatings market. In 2019, the market of polyurea coatings has been consolidated by the top five players accounting for xx% of the share. Major players in the polyurea coatings market are Huntsman Corporation, Albemarle Corporation, PPG Industries Inc., Nukote Coating Systems International, Covestra AG, BASF SE, and The Sherwin-Williams Company among others.

Investment/ Acquisition

In February 2019, PPG invested USD 10 million in a new 82,000-square-feet facility and Class A paint line at its South Carolina coatings services facility. This initiative was taken to meet the increasing demand for Class A coatings from automotive and large truck markets.

In October 2017, PPG acquired The Crown Group, a US-based coatings application service provider, from Charter Oak Capital Partners and High Road Capital Partners. The Crown Group caters to customers in the automotive, agriculture, construction, heavy truck, and alternative energy industries, which are the key areas of interest for PPG. This acquisition has helped PPG enhance its services to OEM customers.

Key Takeaways

Growing consumer awareness regarding utilization of superior quality waterproofing coating in residential buildings is expected to propel growth over the forecast period.

Increasing requirements for improving performance, durability, and ease-of-use of products are the key factors contributing to the growth of the polyurea coatings market.

Asia Pacific dominated the polyurea coatings market.

Related Reports :

A. Polyurethane Coating Market

https://www.industryarc.com/Research/Polyurethane-Coating-Market-Research-500192

B. Industrial Coatings Market

https://www.industryarc.com/Report/11724/industrial-coatings-market.html

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.