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Polyurea Coatings Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Published: December 2023 || SKU: CH3270
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180 pages
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Global Polyurea Coatings Market is segmented By Type (Pure Polyurea, Hybrid Polyurea), By Raw Material (Aromatic Isocyanate, Aliphatic Isocyanate), By Technology (Spraying, Pouring, Hand-mixing), By End-User (Building & Construction, Automotive, Industrial, Defense & Security, Healthcare, Landscape, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

 

Polyurea Coatings Market Overview

The Global Polyurea Coatings Market is estimated to reach at a CAGR of 1.9% during the forecast period (2023-2030).

Polyurea is an elastomer derived from combining synthetic resin and isocyanate-reactive materials. Polyurea coatings have higher quality, increased strength, and unparalleled durability, thus, provides significant protection to various metal, wood, concrete, plastic, fiberglass, urethane foam and many other substrates.

Emerging applications of polyurea coatings in various end-use industries such as building & construction, automotive, defence sectors, with the advancement of the coating technology, are expected to drive the market over the forecast period. Moreover, the rapidly increasing infrastructural spending and emphasis on improving public transport, construction of subways, and urbanization facilitate favorable conditions for the polyurea market growth.

Polyurea Coatings Market Scope

Metrics

Details

Market CAGR

1.9%

Segments Covered

By Type, By Raw Material, By Technology, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

 

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Polyurea Coatings Market Dynamics and Trends

Concern towards environmental susceptibility is anticipated to drive the polyurea market

Polyurea coatings are non-toxic and do not contain solvents in production and construction. Polyurea coatings are 100% solid content with no added thinner, heavy metals and volatile organic compounds (VOCs). Hence, they are eco-friendly and compliant with the norms stipulated by authorities monitoring Volatile Organic Compounds' environmental effects (VOCs). For instance, the European Union Ecolabelling Board (EUEB) identifies and lists the hazardous classifications and characteristics of preparations, compounds and substances that cannot be used by automotive and construction end-users as stipulated by the Ecolabel Regulation. 

Henceforth, rising environmental concerns regarding the risks associated with volatile organic compound (VOC)-content coatings and shifting trends toward the adoption of advanced and eco-friendly coatings are anticipated to drive the demand for polyurea coatings.

Poor adhesion due to the highly reactive nature of polyurea coatings is expected to hinder the market growth

The polyurea coatings are highly reactive and quick-curing, a setting of the layer without adequate wetting out time can cause poor adhesion to the substrate. Thus, formulators must ensure complete wetting out of the surface before the coating sets.

Also, aromatic coatings, a type of polyurea coatings, may react to UV radiation, resulting in colour changes and chalking. In that case, an aliphatic polyurea must be used for aesthetic and visual appeal.

Polyurea Coatings Market Segmentation Analysis

Based on technology, the polyurea coatings market is segmented into spraying, pouring and hand-mixing.

Spraying technology is expected to dominate the technology segment of polyurea coatings

Spraying is the most widely used technology for polyurea coatings on account of its high level of efficiency, technological advancements and low labour requirement. In this technology, isocyanates and resin blend are pumped through storage barrels into the spraying machine. Then, the two components are brought to the required processing parameters at the accurate mix ratio of 1:1 and sprayed onto the surface.

Moreover, spraying encompasses features like fast curing, high mechanical strength, water insensitivity, chemical resistance, and high durability. It works under high pressure of around 140-220 bar and high temperature ranging from 68°C-90°C. Henceforth, it is extensively used for applications such as roofing, containment liners, decks, and bridges.

Besides, hand-mixing is the second-largest technology, owing to its rising use in floor coatings including decorative floors, antistatic flooring, and industrial floors.

Global Polyurea Coatings Market Geographical Share

Asia-Pacific is anticipated to dominate the market of polyurea coatings during the forecast period

Asia-Pacific is the fastest-growing market for polyurea coatings, owing to high economic growth and substantial investment in automotive, building & construction, marine and manufacturing. For instance, China remains the world's largest automotive manufacturing country and automotive market since 2009. As per the Statista study, in 2018, annual vehicle production in China accounted for over 30 per cent of worldwide vehicle production, which exceeds that of the European Union or that of the United States and Japan combined.

Asia-Pacific is an emerging economy with many rapidly developing countries. For instance, India is a lucrative market for polyurea coatings due to increasing investment in infrastructure and smart cities development.

Moreover, most of the leading players from America and Europe are planning to shift their manufacturing base to APAC. It offers inexpensive raw materials, low-cost production and the ability to serve the local emerging market, which led to an increased demand for polyurea coatings in the APAC market.

Polyurea Coatings Market Companies and Competitive Landscape

The polyurea coatings market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Specialty Products, Inc., Nukote Coating Systems, Huntsman Corporation, Rhino Linings Corporation, Marvel Coatings, Versaflex Inc., PPG Industries Inc, Wasser Corporation, Voelkel Industrial Products GmBH, Teknos among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the polyurea coatings market globally.

Speciality Products, Inc.

Overview: Specialty Products, Inc. is a manufacturing company of polyurea elastomeric coatings, polyurethane foam systems and plural-component application equipment. The company headquarters is in Washington, US and has operation centres in Chicago Illinois, and Anchorage Alaska.

Product Portfolio: Specialty Products, Inc. serves its products in five (5) categories, namely, polyurea solutions, spray/pour foam, single coating, equipment & parts and primers, additives and cleaners.

Key Developments:

  •  Specialty Products, Inc. has launched a new Elastomeric Bridging Polyurea, AQUASEAL™ Hi Rise X3 AP.  It is designed for high-pressure, spray equipment.

Why Purchase the Report?

  • Visualize the composition of the polyurea coatings market segmentation by type, raw material, technology, end-user and region highlighting the key commercial assets and players.
  • Identify commercial opportunities in polyurea coatings market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of polyurea coatings market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The global polyurea coatings market report would provide access to an approx. 69 market data table, 63 figures and 180 pages.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers
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FAQ’s

  • The market is growing at a CAGR of 1.9%.

  • Major players are Specialty Products, Inc., Nukote Coating Systems, Huntsman Corporation, Rhino Linings Corporation, Marvel Coatings, Versaflex Inc., PPG Industries Inc, Wasser Corporation, Voelkel Industrial Products GmBH, Teknos among others.

  • Asia Pacific is the fastest-growing region in the Polyurea Coatings Market.

  • The segments are By Type, By Raw Material, By Technology, By End-User, and By Region.
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