Polyurea Coatings Market Report 2019-2026 | PPG Industries, Inc., The Sherwin-Williams Company, Nukote Coating Systems, Versaflex Inc.
Polyurea Coatings Introduction
Polyurea is an advanced coating technology with elastomeric and flexible formulation, but extremely strong, proving to be an amazingly versatile protective coating.
Scope of Polyurea Coatings Market
This report studies the Polyurea Coatings market from the perspectives of enterprises, regions, product types and terminal industries, and forecasts the market through the analysis of the status quo. In this study, 2018 has been considered as the base year and 2019 to 2026 as the forecast period to estimate the market size for Polyurea Coatings.
The global Polyurea Coatings market size is valued at USD 762 million in 2019 and is projected to reach USD 1,692 million by 2026, witnessing a CAGR of 12.07% throughout the forecast period.
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Growth Factors
The polyurea coatings market growth is mainly attributed to the increasing applicability of polyurea coatings in the construction and transportation sectors. The high demand for polyurea coatings from the industrial sector in developed countries is also anticipated to propel the growth of the polyurea coatings market. In addition, improved global economic conditions are attracting polyurea coating manufacturers to invest in this market.
Nevertheless, the expense of the coatings and the use of expensive equipment for applications of these coatings may possibly act as a limitation for the development of polyurea coatings market. Besides, the process of applying polyurea coatings involves high risks to health and requires specialized work. The health risks associated with spraying and toxicity of the vapors of the amine substrates and exposure to high-pressure equipment are considered another obstacle to the growth of the market. Strict regulation of the use of polyurea coatings is also expected to have an impact on market growth. Affected by market opportunities, some local companies and commodity suppliers have entered the market, which may reduce profit margins.
Key participants
Foremost key players operating in the global Polyurea Coatings market include PPG Industries, Inc., The Sherwin-Williams Company, Nukote Coating Systems, Versaflex Inc., Specialty Products Inc., Armorthane Inc., Wasser Corporation, Rhino Linings Corporation, Kukdo Chemical Co., Ltd., Voelkel Industrial Products GmbH (VIP), Covestro (Bayer Materialscience), BASF SE, Huntsman Corporation, Lonza Group AG, Dorf Ketal, Polycoat Products, Krypton Chemical, ArmorThane, Tecnopol, SWD URETHANE, HUATE, Qingdao Air Nuevos Materiales, Feiyang, and etc. The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
Geographical Perspective
North America and Europe region are the notable regional markets of polyurea coatings, followed by Asia-Pacific, with production values accounting for 33.21%, 32.15% and 28.45% of the world respectively. North America was the largest polyurea coatings market in 2018. Growing population and increasing demand for polyurea coatings from applications, such as building & construction and transportation, are expected to fuel the growth of the North America polyurea coatings market. Moreover, rising reconstruction activity and strict environmental rules and regulations in this region are also pushing the demand for polyurea coatings.
Asia-Pacific region is believed to be the most lucrative market of polyurea coatings owing to emerging economies such as India and China. Apart from this, the increase in construction activities and the development of infrastructure are predicted to further stimulate the growth of the market in this region.
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Type Synopsis
On the basis of type, the market comprises of Pure Polyurea, Hybrid Polyurea, and Other. The hybrid polyurea segment is projected to be the largest type segment of the polyurea coatings market. Hybrid polyurea coatings are moisture and temperature sensitive due to the amount of catalysts used in their formation. These coatings have an exceptional abrasion resistance and excellent adhesion to metal and concrete body or structure. Hybrid polyurea coatings are cheaper as compared with pure polyurea coatings and are utilized in building & construction and industrial applications.
Application Synopsis
By application, the Polyurea Coatings Market can be divided into Building & Construction, Transportation, Industrial, and Other. The industrial application is forecasted to witness the highest CAGR of 17.6% over the forecast period, due to rapid urbanization and industrialization in the emerging economies.
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Polyurea Coatings Market
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2 Market Trends and Competitive Landscape
3 Segmentation of Polyurea Coatings Market by Types
4 Segmentation of Polyurea Coatings Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Polyurea Coatings Market in Major Countries
7 North America Polyurea Coatings Landscape Analysis
8 Europe Polyurea Coatings Landscape Analysis
9 Asia Pacific Polyurea Coatings Landscape Analysis
10 Latin America, Middle East & Africa Polyurea Coatings Landscape Analysis
11 Major Players Profile
11.1 PPG Industries, Inc.
11.1.1 PPG Industries, Inc. Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 The Sherwin-Williams Company
11.3 Nukote Coating Systems
11.4 Versaflex Inc.
11.5 Specialty Products Inc.
11.6 Armorthane Inc.
11.7 Wasser Corporation
11.8 Rhino Linings Corporation
11.9 Kukdo Chemical Co., Ltd.
11.10 Voelkel Industrial Products GmbH (VIP)
11.11 Covestro (Bayer Materialscience)
11.12 BASF SE
11.13 Huntsman Corporation
11.14 Lonza Group AG
11.15 Dorf Ketal
11.16 Polycoat Products
11.17 Krypton Chemical
11.18 ArmorThane
11.19 Tecnopol
11.20 SWD URETHANE
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Target Audience:
Polyurea Coatings manufacturers
Polyurea Coatings end-user sectors
Raw material suppliers of Polyurea Coatings
Distributors and resellers of Polyurea Coatings
Polyurea Coatings industry associations
Product managers, Polyurea Coatings industry administrator, C-level executives of the industries
Market research and consulting firms
Small and Medium-sized Enterprises (SMEs)
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