Report Overview

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.

Growth Drivers

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.

Restraint

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

By Raw Material Type

Ø  Aromatic

Ø  Aliphatic

By Product Type

Ø  Coating

Ø  Lining

Ø  Sealants

Ø  Others

By Application

Ø  Construction

Ø  Industrial

Ø  Transportation

Ø  Others

By Region:  

Ø  North America

Ø  Europe

Ø  Asia Pacific

Ø  Latin America

Ø  Middle East & Africa

The objective of the Study:

Ø  To analyze and forecast the global Polyurea Market size of the market in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

Ø  The Global Polyurea Market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America and Middle East & Africa coupled with their leading countries.

Ø  To outline, categorized, and forecast the global Polyurea Market based on the Raw Material Type, Product Type, Application, coupled with the region.

Ø  To examine competitive developments like technological advancement, services, and regulative framework within the global Polyurea Market.

Ø  To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.