Global Polyurea Market by Raw Material Type (Aromatic, Aliphatic), By Product Type (Coating, Lining, Sealants, and Others), By Application (Construction, Industrial, Transportation, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, And Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-2026
- Published Date: April 2020
- Report ID: BWC20057
- Available Format: PDF
- Page: 165
Global Polyurea Market Forecast and Trends
The Global Polyurea Market has reached USD 0.815 Billion in 2019 and projected to reach USD 1.15 Billion by 2026 with a significant CAGR of 4.96% during the forcast period 2020-2026. Increasing use of protective coatings in automotive and construction applications is anticipated to promote the use of the polymer due to their rust prevention and high durability.
Increasing use of adhesives and sealants as bonding agents in the automotive and construction industries is expected in the near future to play a crucial role in promoting growth in the market. Increasing expenditure on the use of lining systems for environmental protection in operations, including landfill management, is expected to fuel the market for polyurea because of strict regulations aimed at reducing the adverse effect of emissions.
Global Polyurea Market: Overview
Polyurea is a state-of - the-art coating technology with elastomeric and flexible formulation but extremely strong and proves to be an incredibly versatile protective cover. The worldwide unprecedented growth of the chemical industry is driving the growth and advancement behind polyurea coatings in technology sector.
Rapid indutrialisation across the globe positively affects the market
Polyurea coatings are utilized as tank coatings, pipeline coatings, as well as for coating machinery & equipment in several industries such as mining, chemicals, oil and gas, water supply and treatment, etc. Hence, global rapid industrialization will positively influence the polyurea market. Rising environmental awareness relating to VOC emissions will act as the major driving factor for the polyurea market. Growing automotive production will lift the demand for polyurea, as they are used as anti-scratch and anti-corrosive coatings. Increasing urban population, rising GDP growth of various developing countries, and increased spendings of consumer is projected to indirectly drive the growth of the polyurea market.
Increasing infrastural development and construction activities
Polyurea coatings are predominantly used for corrosion-protection and waterproofing purposes. Polyurea coatings are used for the waterproofing of walls, roofs, and floors in the building and construction industry. Therefore, the increasing building and construction industry and growing infrastructural development, specifically in developing nations, are projected to contribute in the growth of the polyurea market.
The availability of substitutes such as polyolefin-based lining systems
The presence of low-cost coating substitutes including epoxy and polyurethane, polyolefin-based lining systems, etc. is expected to adversely impact growth. Also, lack of standardization coupled with less productive variance and marketing are expected to negatively affect the polyuria market.
Global Polyurea Market: Raw Material Type
Based on raw material type, global Polyurea Market is segmented into Aromatic, Aliphatic. The aromatic compounds made up the majority of the global number as these variants have better mechanical and physical properties. It has been widely used in a varied range of applications as it possess good physical properties and ease of processing.
Global Polyurea Market: Product Type
Based on Product Type, global Polyurea Market is semented into Coating, Lining, Sealants, and Others. Coatings sector dominate the polyurea market and the trend is expected to continue over the forecast period. Owing to desirable properties such as corrosion protection, abrasion resistance, waterproofing and structural enhancement, coating formulations are used in the manufacturing, automotive and healthcare industries. In addition high chemical resistance against liquids and rapid drying finishes they are mainly used in landfills and waterproofing systems. The growing importance of waterproofing membranes in the construction industry is expected to have a favorable effect on growth due to their good sealing properties.
Global Polyurea Market: Application
On the basis of Application, the global Polyurea market is classified into Construction, Industrial, Transportation, and Others. Construction sector contribute with largest share in application category and is expected that high reactivity and relative insensitivity of moisture associated with polyurea will promote its use in secondary containment structures, manhole and tunnels, and tank liner. Hence, it leads to drive the demand of construction segment. Due to its excellent crack-bridging properties and high elongation and tensile strength, it is also used as a caulking agent and sealing material in expansion joints, control joints, and in floors and water reservoirs.
Global Polyurea Market: Regional Insights
Geographically, the global Polyurea market is segmented into North America, Europe, Asia-Pacific, and Latin America & MEA. The market for polyurea in North America is estimated to account for substantial market share of polyurea over the forecast period. Growing numbers of construction activities along with increasing demand for waterproofing materials are major factors boosting the growth of the North American polyurea market.
Global Polyurea Market: Competitive Landscape
The major market players in the Polyurea Infrastructure market are BASF, W.R. Grace, SWD Polyurethane, Nukote Coating Systems International, LINE-X Protective Coatings, PPG Industries, Specialty Products Inc., VersaFlex Inc., Covestro, Huntsman, PPG Industries, The Sherwin-Williams, Advanced Polymer Solutions, APV Engineered Coatings, Convertec, Dinsmore Welding and Fabrication, Geoliz Waterproofers, Hutchinson Manufacturing, SWD Urethane, and other prominent players. These vendors have adopted various startegies to expand their offerings in the market.
Global Polyurea Market: Recent Developments
Ø In May 2018, BASF and Lighting Technologies have partnered eco-friendly composite pallet which included newly formulated proprietory hybrid polyuria spray coating named Exobond.
Ø In April 2019, Speciality Products (SPI) joine Versaflex family of companies as a part of broaden the coating portfolio and to increase focus on polyuria coating and form solutions.
Scope of the Report
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
United States, Canada, Germany, United Kingdom, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, China, India, Japan, South Korea, Saudi Arabia, UAE, South Africa
By Raw Material Type, By Product Type, By Application and Region.
BASF, W.R. Grace, SWD Polyurethane, Nukote Coating Systems International, LINE-X Protective Coatings, PPG Industries, Specialty Products Inc., VersaFlex Inc., Covestro, Huntsman, PPG Industries, The Sherwin-Williams, Advanced Polymer Solutions, APV Engineered Coatings, Convertec, Dinsmore Welding and Fabrication, Geoliz Waterproofers, Hutchinson Manufacturing, SWD Urethane, and other prominent players.
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Sources
2.2. Quantitative Research
2.2.1. Primary & Secondary Sources
2.3. Breakdown of Primary Research Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents
2.5. Market Size Estimation
2.6. Assumption For The Study
2.7. Market Breakdown & Data Triangulation
3. Executive Summary
4. Global Polyurea Insights
4.1. DROC Analysis
4.1.1. Growth Drivers
4.2. Technological Landscape/Recent Developments
4.3. Regulatory Framework
4.4. Company Market Share Analysis,2019
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Intensity of Rivalry
5. Global Polyurea Market Overview
5.1. Market Size & Forecast By Value, 2016-2026
5.1.1. By Value (USD Billion)
5.2. Market Share & Forecast
5.2.1. By Raw Material Type
5.2.2. By Product Type
5.2.3. By Application
5.2.4. By Region
188.8.131.52. North America
184.108.40.206. Asia Pacific
220.127.116.11. Latin America
18.104.22.168. Middle East & Africa
6. North America Polyurea Market
6.1. Market Size & Forecast By Value, 2016-2026
6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
6.2.1. By Raw Material Type
6.2.2. By Product Type
6.2.3. By Application
6.2.4. By Country
22.214.171.124. United States
7. Europe Polyurea Market
7.1. Market Size & Forecast By Value, 2016-2026
7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
7.2.1. By Raw Material Type
7.2.2. By Product Type
7.2.3. By Application
7.2.4. By Country
126.96.36.199. United Kingdom
188.8.131.52. Rest of Europe
8. Asia Pacific Polyurea Market
8.1. Market Size & Forecast By Value, 2016-2026
8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
8.2.1. By Raw Material Type
8.2.2. By Product Type
8.2.3. By Application
8.2.4. By Country
184.108.40.206. South Korea
220.127.116.11. Rest of Asia Pacific
9. Latin America Polyurea Market
9.1. Market Size & Forecast By Value, 2016-2026
9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
9.2.1. By Raw Material Type
9.2.2. By Product Type
9.2.3. By Application
9.2.4. By Country
18.104.22.168. Rest of Latin America
10. Middle East & Africa Polyurea Market
10.1. Market Size & Forecast By Value, 2016-2026
10.1.1. By Value (USD Billion)
10.2. Market Share & Forecast
10.2.1. By Raw Material Type
10.2.2. By Product Type
10.2.3. By Application
10.2.4. By Country
10.2.4.4.Rest of Middle East and Africa
11. Company Profile (Company Overview, Financial Matrix, Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)*
11.2. W.R. Grace
11.3. SWD Polyurethane
11.4. Nukote Coating Systems International
11.5. LINE-X Protective Coatings
11.6. PPG Industries
11.7. Specialty Products Inc.
11.8. VersaFlex Inc.
11.13.Advanced Polymer Solutions
11.14.APV Engineered Coatings
11.16.Dinsmore Welding and Fabrication
11.20.Other Prominent Players
*Financial Details will be captured as per data availability in case of unlisted companies.
**The user segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable.
By Raw Material Type
By Product Type
Ø North America
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
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