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. 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.
Global Key
Players:
·
VersaFlex Incorporated and 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
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 global 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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