Dublin, Oct. 14, 2020 (GLOBE NEWSWIRE) -- The "Global Polyaspartic Coatings Market by Type (100% Solids Polyaspartic, Hybrid Polyaspartic), Systems (Quartz, Metallic), End-use Industry (Building & Construction, Transportation, Industrial, Power Generation, Landscape) and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global polyaspartic coatings market is estimated at USD 329 million in 2020 and is projected to reach USD 388 million by 2025, at a CAGR of 3.4% between 2020 and 2025.
The impact of COVID-19 pandemic is expected to slow down the polyaspartic coatings market with 10.3% decline in 2020, in terms of value. The market is driven by factors such as these polyaspartic coatings being durable and formulated to meet essential characteristics such as resistance to humidity, fast curing time, smooth surface finish, chemical & abrasion resistance, excellent adhesion, and other mechanical & physical properties required in various applications as the building & construction, transportation, industrial, and power generation sectors.
Polyaspartic coatings are more expensive than their substitutes such as epoxy and polyurethane coatings. This increased cost is due to the high prices of raw materials, the cost involved in developing aliphatic polyurea systems, and high investments made by manufacturers in R&D to develop the product. Also, the need for skilled workforce during formulation and operation increases the cost of its application. Thus, the high cost acts as a major restraint to the demand for polyaspartic coatings. However, increasing awareness about polyaspartic coatings is a major opportunity for various market players.
Building & construction end-use industry holds the largest share in the global polyaspartic coatings market.
Polyaspartic coatings are widely used in the building & construction industry. Their application areas include bridge construction, commercial architecture, floor & roof coating, caulks, joint fill, parking decks, concrete repair, and structural bonds. Polyaspartic coatings are used as topcoats, stone carpets, sealants, and waterproofing. The use of polyaspartic coatings in infrastructure is increasing because they have good wear, abrasion, and weather resistance. Polyaspartics are available in high-solid formulations. In order to meet VOC regulations, improve aesthetic appeal and corrosion control, they are used as topcoats. The slow growth of building & construction sector in addition to the impact of COVID-19 is expected to slow down the demand of polyaspartic coating during the forecast period.
100% solids polyaspartic segment is expected to register the highest CAGR in the global polyaspartic coatings market during the forecast period.
100% solids polyaspartic coating is a result of the chemical reaction of isocyanates and amine-terminated resins. 100% solids polyaspartic plays a vital role in determining the properties of the final coated surface. These systems serve a wide variety of applications including coating or lining applications over substrates such as concrete or metals to protect them from corrosion. The main advantages of 100% solids polyaspartic over hybrid polyaspartic are rapid reactivity, better chemical & mechanical resistance, high resistance to tearing, better abrasion & impact resistance, and resistance to water.
APAC is projected to record the highest growth rate during the forecast period.
There is an increase in the consumption of polyaspartic coatings in the building & construction, transportation, industrial, and power generation industries in APAC due to industrialization and growth in the building & construction sector of the region. Growing innovation & development and rising demand from the industrial sector for improved products are driving the use of polyaspartic coatings. China is investing in commercial and residential construction in order to meet the infrastructure demand of the growing population which in turn plays a vital role in driving the market for polyaspartic coatings in the country.
The growing offshore wind energy sector in China is also anticipated to drive the polyaspartic coatings market during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities for Polyaspartic Coatings Market
4.2 Top Region Polyaspartic Coatings Market, by End-use Industry
4.3 Polyaspartic Coatings Market, by Type
4.4 Polyaspartic Coatings Market, by Technology
4.5 Polyaspartic Coatings Market, by System
4.6 Polyaspartic Coatings Market, by End-Use Industry
4.7 Polyaspartic Coatings Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Porter's Five Forces
5.4 Coating Ecosystem/Market Map
5.5 Coatings Trade Analysis
5.6 Average Selling Price Analysis
5.7 Technology Analysis
5.8 Regulatory Landscape
5.9 Innovation (Patent Analysis)
5.1 Value Chain Analysis
5.11 Forecast Factors Impacting Growth
5.12 YC, YCC Shift
5.13 COVID-19 Impact Analysis
5.14 Macro-Economic Indicators
6 Polyaspartic Coatings Market, by Type - Forecast Till 2025 (In Kilotons and USD Million)
6.1 Introduction
6.2 Pure-Polyurea
6.3 Hybrid Polyurea
7 Polyaspartic Coatings Market, by Technology - Forecast Till 2025 (In Kilotons and USD Million)
7.1 Introduction
7.2 Water
7.3 Solvent
7.4 Powder
8 Polyaspartic Coatings Market, by System - Forecast Till 2025 (In Kilotons and USD Million)
8.1 Introduction
8.2 Quartz
8.3 Metallic
9 Polyaspartic Coatings Market, by End-Use Industry - Forecast Till 2025 (In Kilotons and USD Million)
9.1 Introduction
9.2 Building & Construction
9.2.1 Impact of Megatrends in the Building & Construction
9.3 Transportation
9.3.1 Impact of Megatrends in Transportation
9.4 Industrial
9.4.1 Impact of Megatrends in Industrial
9.5 Power Generation
9.5.1 Impact of Megatrends in Power Generations
9.6 Landscape
9.6.1 Impact of Megatrends in Landscape
9.7 Others (If Applicable)
10 Polyaspartic Coatings Market, by Region - Forecast Till 2025 (In Kilotons and USD Million)
10.1 Introduction
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Russia
10.3.5 Spain
10.3.6 Russia
10.3.7 Rest of the Europe
10.4 Asia-Pacific
10.4.1 China
10.4.2 Australia
10.4.3 Malaysia
10.4.4 Indonesia
10.4.5 Rest of APAC
10.5 Middle East & Africa
10.5.1 UAE
10.5.2 Saudi Arabia
10.5.3 South Africa
10.5.4 Rest of Middle East & Africa
10.6 South America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of South America
11 Competitive Landscape
11.1 Introduction
11.2 Company Evaluation Matrix Definition and Technology
11.2.1 Market Share & Industry Tier Structure Analysis
11.2.2 Product Footprint
11.2.3 Star
11.2.4 Emerging Leader
11.2.5 Pervasive
11.3 Company Evaluation Matrix 2019
11.4 Competitive Scenario
11.4.1 Expansions
11.4.2 Acquisitions
11.4.3 New Product Launches
11.4.4 Market Strategy Analysis
11.4.5 Revenue Analysis of Top Players
12 Company Profiles
(Business Overview, Financials, Impact of COVID-19 on Business Segment, Products & Services, Winning Imperatives, Right to Win, Key Strategy, Operational Growth, and Recent Developments)
12.1.1 The Sherwin-Williams Company
12.1.2 PPG Industries
12.1.3 AkzoNobel
12.1.4 BASF SE
12.1.5 Hempel
12.1.6 Sika AG
12.1.7 Nippon Paint
12.1.8 Carboline
12.1.9 Rust-Oleum
12.1.10 Laticrete International
12.2 Startup/SME Evaluation Matrix, 2019
12.3 Startup/SME Profiles
12.3.1 Indmar Coatings
12.3.2 Satyen Polymers
12.3.3 VIP Coatings Solutions
12.3.4 The Floor Company
12.3.5 Duraamen Engineered Products Inc.
12.3.6 Chromaflo Technologies Corporation
12.3.7 Iron Man Coatings
12.3.8 Flexmar Polyaspartics
12.3.9 Prokem Speciality Chemicals
12.3.10 Lifetime Flooring Systems
12.3.11 Advantage Chemical Coatings
12.3.12 Rhino Lining Corporation
12.3.13 Shorecrete Coatings LLC
12.3.14 US Coatings
12.3.15 Polyset
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/lmgdju
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.