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Polyurea Coatings Market to Reach $1500 Million, Globally, by 2029 at 9% CAGR: Future Market Insights

The global polyurea coatings market is segmented on the basis its type into pure polyurea and hybrid polyurea. On the basis of type, the hybrid polyurea segment is a prominent segment in the global polyurea coatings market, as it has a lower price range and also various application areas. However, the pure polyurea coatings segment is projected to witness healthy growth during the forecast period. Rising environmental concerns towards the risks associated with VOC content coatings, and shifting trend towards the adoption of advanced as well as eco-friendly coating technologies to drive the demand for polyurea coatings.

Future Market Insights offers vital insights concerning to the global polyurea coatings market, and delivers exclusive information through structured market research. The report titled, ‘Polyurea Coatings Market: Global Industry Analysis 2014–2018 and Opportunity Assessment 2019–2029′, estimates the market and forecasts the forthcoming market scenario on the basis of type, isocynate type, application, and region. The global polyurea coatings market was valued nearly US$ 600 Mn in terms of value at the end of 2018, and is expected to surpass US$ 1,500 Mn by the end of the forecast period, registering a CAGR of over 9.0%

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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 & 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.

Polyurea coatings are used as pipeline coatings, tank coatings, and also for coating machinery & equipment in various industries such as chemicals, oil & gas, mining, water supply & treatment, etc. Hence, rapid industrialization across the globe will positively influence the polyurea coatings market. Increasing environmental awareness pertaining to VOC emissions will act as prime driving factor for the polyurea coatings market. Growing automotive production will elevate the demand for polyurea coatings, as they are used as anti-scratch and anti-corrosive coatings. Growing urban population, rising GDP growth of developing countries, and increased consumer spending are expected to indirectly drive the growth of the polyurea coatings market.

Polyurea coatings cure quickly and are highly reactive. The application of polyurea coatings on wet surfaces may cause poor adhesion on the surface. Thus, the surface requires adequate amount of drying time before the application of a polyurea coating. Moreover, the cost of application of polyurea coatings is much higher, owing to the cost of the spraying equipment. The handling of such equipment requires skilled labourers and technicians. The aforementioned factors might hamper the growth of the polyurea coatings market.

POLYUREA COATINGS MARKET TAXONOMY

The global polyurea coatings market is segmented in detail to cover every aspect of the market, and present a complete market intelligence approach in front of the reader.

By Type

  • Pure Polyurea
  • Hybrid Polyurea

By Isocynate Type

By Application

  • Building & Construction
    • Roofs
    • Walls
    • Floors
    • Bridges
    • Others
  • Industrial
    • Pipes
    • Tanks & Containment
    • Equipment & Machinery
  • Automotive & Transportation
  • Others

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

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Polyurea Coatings Market: Competition Landscape

Some of the players stated in the study of the global polyurea coatings market are BASF SE, Huntsman Corporation, Teknos Groups, DowDuPont Inc., Versaflex Incorporated, Sherwin Williams Company, Pidilite Industries Ltd., Covestro AG, PPG Industry Inc., and Rhino Linings Corporation, among others.

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