Market Insights:
Polyurea coating is a type of coatings, which are applied to
improve the performance efficiency of the substrate. It is produced by reacting
isocyanate with resin blend that forms a rubber-like substance, which coats the
substrate. It is compatible with various substrates such as concrete, metals,
wood, and others in a wide range of temperature and humidity. Furthermore, it
is eco-friendly and does not contain any volatile organic compounds (VOC).
Various conventional coatings are available in the market such as epoxy, vinyl
ester, PU, and polychloroprene coating.
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Polyurea coating
provides several advantages over conventional coatings such as fast curing,
high coating thickness, and extreme weather resistance to high humidity and low
temperatures. Moreover, it impart superior durability, abrasion resistance,
corrosion resistance, waterproofing, chemical resistance, decoration, and
structural enhancement than conventional coatings. This coating is available in
water-based formulations and variety of color and designs. Similar to
conventional coatings, polyurea coating requires surface preparation such as
sandblasting or priming prior to its application. Technological innovations
have led to the availability of antimicrobial agents in polyurea coatings,
which prevent the product from degrading.
Rising popularity of environment-friendly products is expected
to boost the demand for polyurea coatings over the forecast periods. High
demand from the building & construction, transportation, industrial, and
chemical industry are expected to drive the global polyurea coatings market
over the forecast period 2018-2023. Polyurea coatings have numerous
applications in the building & construction industry such as playground
fixtures, waterproof tank linings, asbestos encapsulation, pipeline coatings,
tunnels, pedestrian footpaths, floor coverings, sewage pits, bridges, tanks,
truck linings, and secondary containments. Additionally, polyurea coatings are
also employed in chemical industries due to its superior chemical resistance
properties.
However, availability of alternatives, for instance, epoxies
at lower cost than polyuria coatings are likely to hamper the global polyurea
coatings market during the forecast period 2018-2023. However, polyurea
coatings can last three to five times longer than the conventional coatings
which makes it quite cost-effective.
Key Players:
·
VersaFlex Incorporated
·
The Polyurea People
·
The Sherwin-Williams Company
·
PPG Industries, Inc.
·
Rhino Linings Corporation.
·
KUDKO CHEMICAL CO. LTD.
·
Huntsman International LLC.
·
Armorthane
·
Rust-Oleum
·
SPI Performance Coatings
·
Lse Building Preservation Ltd
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Market Segmentation:
The global polyurea coatings market is segmented by type, raw
material, technique, end-use industry, and region.
On the basis of the type, the global polyurea coatings market
is segmented into pure polyurea coatings and hybrid polyurea coatings.
On the basis of the raw material, the global polyurea coatings
market is segmented into aromatic isocyanate and aliphatic isocyanate.
On the basis of the technique, the global polyurea coatings
market is segmented into spraying, pouring, and hand mixing.
On the basis of the end-use industry, the global polyurea
coatings market is segmented into building & construction, automotive,
industrial, chemical, and others.
On the basis of the region, the global polyurea coatings are
segmented into Asia Pacific, North America, Europe, Latin America, and the
Middle East & Africa.
Regional Analysis
The Polyurea Coatings Market is
segmented into five regions namely Asia Pacific, North America, Europe, Latin
America, and the Middle East and Africa.
North America is expected to be the largest market for
polyurea coatings and is expected to dominate the market over the forecast
period owing to growing renovation and repairing activities in the region.
Europe is expected to be the second largest market for
polyurea coatings owing to the high demand from the established automotive
industry. Stringent regulations against the use of products that have high VOC
content is contributing to the growth of the North American and European region
further.
Asia Pacific is expected to be the fastest growing market for
polyurea coating across the globe due to growing investments in emerging
economies and rapid industrialization and urbanization. Large automobile
industry in China is adding fuel to the demand for polyurea coatings further.
The Middle East & Africa is expected to show a steady
growth for polyurea coatings mainly from its building & construction
industry.
Latin America is also expected to witness significant demand
for polyurea coatings from its evolving construction industry mainly in Brazil,
Mexico, Chile, and Venezuela among others.
Intended Audience
- Polyurea
coatings manufacturers
- Traders
and distributors of polyurea coatings
- Research
and development institutes
- Potential
investors
- Raw
material suppliers
- Nationalized
laboratory
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