Dublin, March 21, 2022 (GLOBE NEWSWIRE) -- The "Polyurea Coatings Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The polyurea coatings market size was valued at USD 873.96 million in 2020 and is expected to reach USD 1570.63 million by 2026, growing at a CAGR of 10.26 % during the forecast period.
The demand for polyurea coatings is increasing rapidly in every region due to their durability and effectiveness in all kinds of weather. These coatings are widely used to protect the surface from rust, corrosion, UV rays, stain, general wear, and tear and offer durability and flexibility. Manufacturers are focusing on applications based on green practices that have been adopted in multiple applications, which are opening new revenue streams for manufacturers.
KEY HIGHLIGHTS
Polyurea coating technology is green and doesn't produce any pollution and toxicity to the environment; this is a competitive advantage over many other coating technologies in the construction industry.
Polyurea coatings have low VOC, which helps to improve the quality of air, minimizes the risk of respiratory problems. Therefore, polyurea coatings are widely used in residential buildings.
POLYUREA COATINGS MARKET SEGMENTATION
Demand for protective coating and adhesives and growing applications will grow the demand for aromatic isocyanates in the polyurea coatings system market in the forecast period. Crude oil price fluctuation will present as a challenge for aromatic isocyanates because of the high dependency on raw materials derived from crude oil. Aromatic isocyanates are manufactured through complex processes which need measured environment safety and skilled workers.
GEOGRAPHICAL ANALYSIS
North America is the biggest market for polyurea coatings. Polyurea is used in epoxy and polyurethane coatings because of stringent regulations regarding pollution mitigated by coatings. Lining systems are used widely and have been adopted in multiple practices to protect the environment.
APAC will see the largest growth in the polyurea coatings market. Rising disposable income, strong economic growth, and growing construction activities will support market growth in the region.
VENDOR LANDSCAPE
The key vendors in the polyurea coatings market are BASF, PPG Industries, Sherwin-Williams, Huntsman International, and Teknos Group.
Recently, the BASF group has acquired Solvay's polyamide business globally. The company has changed its business model from agency-based to merchandise model, which resulted in Rs 75,510.5 million Revenue from operation for the year ended 31st March 2020.
The following factors are likely to contribute to the growth of the polyurea coatings market
- Increasing Demand for Eco-friendly Coatings
- Thriving Building and Construction Industry
- Increasing Opportunity in Medical Facilities
- Advancement in Coating Technologies
- Increasing Demand in APAC Countries
- Increasing Usage of Polyurea Coatings In Swimming Pool
Key Vendors
- BASF
- PPG Industries
- Sherwin-Williams
- Huntsman International
- Teknos
Other Prominent Vendors
- Nukote Coating Systems
- Armorthane
- Wasser Coatings
- Rhino Linings Corporation
- Kukdo Chemical
- Voelkel Industrial Products
- Polycoat Products
- Tecnopol Group
- Satyen Polymers
- Prokol Protective Coatings
- Cipy Polyurethanes
- Ultimate Linings
- Zhuhai Feiyang Novel Materials
- Chemline Inc
- Duraamen Engineered Products
- Krypton Chemicals
- Elastothane
- Isomat
- Specialty Products Inc.
- Versaflex
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.1.1 Key Insights By Type
7.1.2 Key Insights By Raw Material
7.1.3 Key Insights By Application
7.1.4 Key Insights By Geography
7.2 Impact Of Covid-19
8 Growth Opportunity
8.1 By Type
8.2 By Raw Material
8.3 By Application
8.4 By Geography
9 Market Opportunities & Trends
9.1 Increasing Demand For Eco-Friendly Coatings
9.2 Thriving Building & Construction Industry
9.3 Increasing Opportunity In Medical Facilities
10 Market Growth Enablers
10.1 Advances In Coating Technologies
10.2 Rising Demand From APAC Countries
10.3 Growing Use Of Polyurea Coatings In Swimming Pools
11 Market Growth Restraints
11.1 Long Wetting-Out Time
11.2 High Health Risk From Toxic Fumes
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
13 Raw Material
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Aromatic Isocyanate
13.4 Aliphatic Isocyanate
14 Type
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Pure
14.4 Hybrid
15 Application
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Building And Construction
15.4 Automotive Industry
15.5 Industrial
15.6 Theme Parks
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/u0yscz
