The global polyurea coatings market size is expected to reach USD 2.79 billion by 2030, according to a new study by Polaris Market Research. The report “Polyurea Coatings Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Aliphatic, Aromatic); By Polyurea Type (Pure, Hybrid); By Technology; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for the product in the building & construction sector for flooring and roofing applications is expected to drive industry growth. Furthermore, increasing penetration of the product owing to their high-performance characteristics compared to their counterparts is one of the major factors driving demand.
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In addition, the growing building & construction sector projects across developing economies such as India, Brazil, Mexico, Saudi Arabia, and China is likely to positively impact the demand for the product over the coming years. However, a few characteristic limitations are anticipated to complement growth compared to polyurethane and epoxy solutions.
The COVID-19 pandemic had a negative impact on the demand for construction-based solutions as ongoing residential and commercial projects came to a standstill owing to global lockdowns and shutdowns of industrial and day-to-day activities. However, as industrial activities resumed in 2021, the demand for construction products positively impacted product demand.
Polyurea Coatings Market Report Highlights
- Growing demand for hybrid segment in several applications, such as the building & construction sector for roofing, and piping, among others, is expected to drive product demand
- The aromatic segment accounted for the highest revenue share in 2021 and is expected to continue its dominance owing to the high-performance characteristics of the aromatic type and growing penetration in the roofing and flooring applications
- Pure coating type is expected to spearhead revenue growth as it is used as a base coat across several building & construction and infrastructure applications across developed as well as developing economies
- Asia Pacific is expected to grow at a CAGR of 10.8% over the forecast period on account of several infrastructure projects sanctioned by the government across developing nations in the region, such as India and China
- Major players operating in the industry include PPG Industries Inc., Sherwin-Williams Company, Nukote Coating Systems, Armorthane Inc., Wasser Corporation, Rhino Linings Corporation, Kukdo Chemical Co., Ltd., Voelkel Industrial Products Gmbh (VIP), Teknos, Polycoat Products LLC, Technopol, Chemline Inc., and Duraamen Engineered Products Inc.
Polaris Market Research has segmented the polyurea coatings market report based on raw material, type, technology, end-use, and region:
Polyurea Coatings, Raw Material Outlook (Revenue – USD Billion, 2018 – 2030)
Polyurea Coatings, Type Outlook (Revenue – USD Billion, 2018 – 2030)
Polyurea Coatings, Technology Outlook (Revenue – USD Billion, 2018 – 2030)
- Hand Mixing
Polyurea Coatings, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Building & Construction
Polyurea Coatings, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa