Global Polyurea Coatings Market By Technology (Spraying, Hand-mixing, and Pouring), By Raw Material (Aromatic isocyanate, and Aliphatic isocyanate), By Product (Hybrid polyuria, and Pure polyurea), By Application (Building and construction, Industrial and Others), and by Region and Companies Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032.
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Polyurea Coatings Market Overview:
The global market for polyurea coatings was valued at USD 1,080.23 million in 2021. It grew at a 7% CAGR from 2023 to 2032.
The market is expected to grow due to significant investment in infrastructure construction and growth in the paint and coatings industry around the globe.
The next eight years will see a growing awareness among consumers about the importance of using a high-quality waterproofing coating for residential buildings. In addition, the demand for containment solutions will increase in the construction and mining sectors due to increased environmental protection.
Global Polyurea Coatings Market Analysis
Spraying accounted for the largest share of revenue in the U.S. at 62.4%. Spraying is the most popular technology for polyurea coatings because of its efficiency and low labor requirements.
In order to increase demand, manufacturers have been working hard to develop lightweight and portable equipment for spraying. This technology has features such as water insensitivity, high mechanical strength, fast curing, and chemical resistance. This technology is capable of working under high pressures within 140-220 bars and at temperatures ranging from 68-90 degrees C. It is used exclusively for roofing, bridges, and decks.
Hand mixing was second in revenue share, due to the increasing use of hand mixing in floor coatings, including antistatic flooring, decorative floors, and industrial floors. North America was the dominant market.
The fastest-growing segment in the coming eight years will be the pouring. This equipment is lightweight and can be used in small or large quantities. It is expected to increase demand during the forecast period.
Raw Material Analysis
The market was dominated by aromatic isocyanate-based polyurea coats. They accounted for 62.6%. These coatings have good physical characteristics and are easy to apply. To achieve desired color stability under UV light exposure, aromatic systems can be coated with aliphatic coatings. Their ability to retain their elastomeric properties is another advantage that aromatic polyurea coatings have, which will likely drive their demand during the forecast period. The market for these coatings is likely to slow down due to their inability to resist UV light and sunlight.
Due to their rapid technological development and superior physical properties, the aliphatic isocyanate-based polyurea coatings are expected to experience the fastest growth. These coatings can be made with aliphatic substances such as isophorone diisocyanate and hexamethylene diisocyanate. Although aliphatic chemicals are stable and light, they can be more difficult to make and sell at a higher price than their counterparts.
Aliphatic compounds will be in high demand in many areas, including transport, wind energy, and mining.
The hybrid polyurea segment is expected to remain dominant over the forecast period. These coatings are increasingly being used in parking, decks, and tanks. This will drive demand for these coatings over the forecast period.
These coatings are costly because of the need to add high-cost catalysts to obtain the required properties. These coatings are popular in Europe and North America. It is created by the reaction between an isocyanate prepolymer, a curative mix of hydroxyl and amine-terminated crystals, and chain extensions.
Because of its superior properties, increased construction activity, and lower cost, pure polyurea segments are expected to gain ground in the next few years. Spray coating has been a popular application of these coatings in recent years due to their low sensitivity to humidity.
Over the next eight years, North American automotive manufacturers will likely increase their use of pure polyurea coats. They are also preferred for flooring, roofing, and containment applications. This will have a positive impact on the industry's demand.
The industry of building and construction held a significant revenue share in 2021. Polyurea coatings are useful in a variety of substrates including concrete, metals, wood, and in extreme temperatures and humidity environments. They can also be used for waterproofing, corrosion control, or immersion purposes. These coatings are only for residential and commercial purposes. The product is expected to have an impact on the demand in the next eight years.
The product's high humidity resistance increases its potential use in roofing, membrane containment lines, decks car parking, bridges, and offshore. This will increase demand.
In 2021, revenue was shared by the industrial segment. Over the forecast period, the market will see positive effects from rapid industrialization in developing countries and the need to protect machines, machinery parts, and equipment in industries.
The fastest expected growth rate in the transportation sector is predicted for the period. Polyurea coatings are only used in ships, boats, freighters, and ships due to their corrosion control, blast resistance, non-skid, ballistic mitigation, and blast resistance. The industry is expected to see an increase in demand during the forecast period.
Key Market Segments
By Raw Material
- Aromatic isocyanate
- Aliphatic isocyanate
- Hybrid polyurea
- Pure polyurea
- Building and construction
- Other applications
Spraying accounted for the largest share of revenue in the U.S. and will continue to dominate the market over the forecast period. Over the forecast period, this technology will be more widely used in construction. The industry's growth will be driven by its ease of use and flexibility when coating complex surfaces.
It is expected that polyurea will become a popular raw material for the production of finished products, due to its increasing use in waterproofing membranes. Polyurea coatings are increasingly being used because of their aesthetic value.
Low manufacturing costs, as well as increased application growth within the construction and automotive sectors, are expected to create new markets for polyurea-coated products over the next eight years. Variable crude oil prices will cause volatility in the prices for polyurea coatings.
Due to their long-lasting properties and low wear & tear, high market penetration for polyurethane or polyaspartic coated will pose a serious threat to the polyurea industry. Market challenges will be presented by the rising popularity of epoxy-based coatings, as they are less expensive than their counterparts
North America accounted for the largest revenue share of 36.57% and was the fastest-growing area in 2021. The industry is likely to be driven by rising concern about environmental protection in both the manufacturing and construction sectors, with a majority of revenue share in Canada and Mexico.
The strong presence of E&P (extraction & Production) sites in Canada, and Mexico and abundant supply of minerals like silver and gold will encourage the use of polyurea coating.
The Asia Pacific was second, with a significant market revenue share in 2021. The growing manufacturing sector in the Asia Pacific is driving market demand. India is a profitable market for polyurea-coated products due to the increasing investment in infrastructure development and smart cities.
Europe's growth in the end-use market for polyurea coats is largely driven in part by increased demand in building and construction, transport, and industrial applications. The market growth for polyurea coats is driven by the growing construction industry in France and Germany.
Key Regions and Countries covered іn thе rероrt:
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of MEA
Market Share & Key Players Analysis:
Vendors offer a more competitive cost structure than another polyurethane-based systems. This will allow for greater application possibilities and a positive impact on the industry. Market players are likely to raise R&D expenses to develop eco-friendly products because of rising concerns over greenhouse gas emissions.
Polyurea coating companies serve their customers by way of direct supply agreements and through third-party agreements with distributors. Additionally, market participants market their products to the coating manufacturers. The increasing usage of e-commerce portals to purchase products is expected to push polyurea coating distributors and manufacturers to form partnerships with companies like Alibaba or Made-In-China.
Маrkеt Кеу Рlауеrѕ:
- Кrурtоn Сhеmісаl
- РРG Іnduѕtrіеѕ
- ІТW Еngіnееrеd Роlуmеrѕ
- Роlусоаt Рrоduсtѕ
- Other Key Players
Rеаѕоnѕ tо Gеt thіѕ Rероrt:
Іn аn іnѕіght оutlооk, thіѕ rеѕеаrсh rероrt hаѕ dеdісаtеd tо ѕеvеrаl quаntіtіеѕ оf аnаlуѕіѕ іnduѕtrу rеѕеаrсh аnd Polyurea Coatings market ѕhаrе аnаlуѕіѕ оf hіgh рlауеrѕ, аlоng wіth соmраnу рrоfіlеѕ, аnd whісh соllесtіvеlу іnсludе аbоut thе fundаmеntаl оріnіоnѕ rеgаrdіng thе mаrkеt lаndѕсаре; еmеrgіng аnd hіgh-grоwth ѕесtіоnѕ оf Polyurea Coatings market; hіgh-grоwth rеgіоnѕ; аnd mаrkеt drіvеrѕ, rеѕtrаіntѕ, аnd аlѕо mаrkеt trends.
Тhе аnаlуѕіѕ соvеrѕ Polyurea Coatings market аnd іtѕ аdvаnсеmеntѕ асrоѕѕ dіffеrеnt іnduѕtrу vеrtісаlѕ аѕ wеll аѕ rеgіоnѕ. Іt tаrgеtѕ еѕtіmаtіng thе сurrеnt mаrkеt ѕіzе аnd grоwth роtеntіаl оf thе glоbаl Polyurea Coatings market асrоѕѕ ѕесtіоnѕ ѕuсh аѕ аlѕо аррlісаtіоn аnd rерrеѕеntаtіvеѕ.
Аddіtіоnаllу, thе аnаlуѕіѕ аlѕо hаѕ а соmрrеhеnѕіvе rеvіеw оf thе сruсіаl рlауеrѕ оn thе Polyurea Coatings market tоgеthеr ѕіdе thеіr соmраnу рrоfіlеѕ, ЅWОТ аnаlуѕіѕ, lаtеѕt аdvаnсеmеntѕ, аnd buѕіnеѕѕ рlаnѕ.
What are the Key Data Covered in this neurovascular Market Report?
- CAGR of the market during the forecast period 2023-2032
- Detailed information on factors that will drive Polyurea Coatings market growth during the next ten years
- Precise estimation of the Polyurea Coatings market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the Polyurea Coatings market industry across North America, APAC, Europe, South America, the Middle East, and Africa
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Polyurea Coatings market vendors
Тhе аnаlуѕіѕ оbјесtіvеѕ оf thе rероrt аrе:
- То еquіtаblу ѕhаrе іn-dерth іnfо rеgаrdіng thе сruсіаl еlеmеntѕ іmрасtіng thе іnсrеаѕе оf іnduѕtrу (grоwth сарасіtу, trends, drіvеrѕ, аnd іnduѕtrу-ѕресіfіс сhаllеngеѕ аnd rіѕkѕ).
- То knоw thе Polyurea Coatings market bу ріnроіntіng іtѕ mаnу ѕubѕеgmеntѕ.
- То рrоfіlе thе іmроrtаnt рlауеrѕ аnd аnаlуzе thеіr grоwth рlаnѕ.
- То еndеаvоr thе аmоunt аnd vаluе оf Polyurea Coatings market ѕub-mаrkеtѕ, dереndіng оn kеу rеgіоnѕ (vаrіоuѕ vіtаl ѕtаtеѕ).
- То аnаlуzе Polyurea Coatings market соnсеrnіng grоwth trеndѕ, рrоѕресtѕ, аnd аlѕо thеіr раrtісіраtіоn іn thе еntіrе ѕесtоr.
- То ехаmіnе аnd ѕtudу thе Polyurea Coatings market ѕіzе (vоlumе & vаluе) frоm thе соmраnу, еѕѕеntіаl rеgіоnѕ/соuntrіеѕ, рrоduсtѕ, аnd аррlісаtіоn, bасkgrоund іnfоrmаtіоn frоm 2016 tо 2020, аnd аlѕо рrеdісtіоn tо 2032.
- Рrіmаrу wоrldwіdе Polyurea Coatings market mаnufасturіng соmраnіеѕ, tо ѕресіfу, сlаrіfу аnd аnаlуzе thе рrоduсt ѕаlеѕ аmоunt, vаluе аnd mаrkеt ѕhаrе, mаrkеt rіvаlrу lаndѕсаре, ЅWОТ аnаlуѕіѕ аnd dеvеlорmеnt рlаnѕ nехt соmіng уеаrѕ.
- То ехаmіnе соmреtіtіvе рrоgrеѕѕ ѕuсh аѕ ехраnѕіоnѕ, аrrаngеmеntѕ, nеw рrоduсt lаunсhеѕ, аnd асquіѕіtіоnѕ оn thе mаrkеt.
For the Polyurea Coatings Market research study, the following years have been considered to estimate the market size:
Particular Scope Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Historic Year 2016 to 2020 Estimated Year 2022 Forecast Year 2023 to 2032
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- PPG Industries
- Polycoat Products
- Krypton Chemical
- Kukdo Chemicals
- Wasser Corporation
- Nukote Coating Systems
- Rhino Linings
- Qingdao Air++ New Materials
Frequently Asked Questions (FAQ)
Q: What is the Polyurea Coatings market size in 2021?
A: The Polyurea Coatings market size is US$ 1,080.23 million for 2021.
Q: What is the CAGR for the Polyurea Coatings market?
A: The Polyurea Coatings market is expected to grow at a CAGR of 7% during 2023-2032.
Q: What are the segments covered in the Polyurea Coatings market report?
A: Market.US has segmented the Global Polyurea Coatings Market Value (US$ Mn) Analysis by Region, 2022 market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Technology, market has been segmented into spraying, hand-mixing, and pouring. By Raw, the market has been further divided into aromatic isocyanate, and aliphatic isocyanate. By Product, market is further divided into hybrid polyuria, and pure polyuria. By Application, market is further divided into building and construction, industrial, household, transportation, and other applications.
Q: Who are the key players in the Polyurea Coatings market?
A: Vеrѕаflех, ЅРІ, Кrурtоn Сhеmісаl, РРG Іnduѕtrіеѕ, Раnаdur, ІТW Еngіnееrеd Роlуmеrѕ, Роlусоаt Рrоduсtѕ, Ѕuре, and Other Key Players are the key vendors in the Polyurea Coatings market.
Q: Which region is more attractive for vendors in the Polyurea Coatings market?
A: North America will register the highest revenue share of 36.57% among the other regions. Therefore, the Polyurea Coatings market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
Q: What are the key markets for Polyurea Coatings?
A: Key markets for Polyurea Coatings are US, China, Japan, India, Brazil, Germany, UK, France, Italy, Spain, etc.
Q: Which segment has the largest share in the Polyurea Coatings market?
A: In the Polyurea Coatings market, vendors should focus on grabbing business opportunities from the spraying technology segment as it accounted for the largest market share in the base year.