Global Polyaspartic Coatings Market Size Expands to Touch USD 792 Million by 2029

Published | 10 February 2023

Global polyaspartic coatings market is flourishing because of rising demand for high-performance coatings in various end-use industries, an increasing awareness about the environmental benefits of polyaspartic coatings, and a surging demand for polyaspartic coatings due to their high resistance to abrasion, chemicals, and UV radiation.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global polyaspartic coatings market size at USD 448.09 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global polyaspartic coatings market size to grow at a significant CAGR of 8.8% reaching a value of USD 791.88 million by 2029. Major growth drivers for global polyaspartic coatings market include increasing the utilization of polyaspartic esters in diverse end-use applications, such as industrial, building & construction, and transportation through simple modification. Improved film thickness, low color values, reduced drying time, odorless, long pot-life, and excellent compatibility with almost all surfaces make these products suitable for concrete floor applications, which are also major factors for growth of the global polyaspartic coatings market. Polyaspartic coatings are also utilized in vehicle coatings, bridges, auto maintenance, wind turbines, and pipelines, particularly in the oil and gas industry. Polyaspartic coatings, when compared to traditional coatings, alleviate the majority of the limitations of polyurethane- and epoxy-based coatings. Moreover, polyaspartic coatings cure faster than other coating systems such as epoxy and polyurethane. All of these factors are expected to fuel the expansion of the polyaspartic coatings market during period in analysis. However, excessive cost of raw materials, limited availability of skilled labor, and stringent regulations and standards related to the use of polyaspartic coatings are anticipated to hinder the expansion of global polyaspartic coatings market.

Global Polyaspartic Coatings Market – Overview

Polyaspartic is aliphatic polyurea. Polyaspartic esters perform well as a diluting agent for high solids polyurethane coatings. Polyaspartic coating is applied as a protective steel coating, offering corrosion prevention for bridges and other harsh environment applications. Polyaspartic coatings is applied as a protective steel coating, offering corrosion prevention for bridges and other harsh environment applications. Polyaspartic coatings are applied as concrete floor coating via methods like dip and roll, ribbon and roll methods. Polyaspartic coating is equipped with rapid curing capabilities and may dry in a matter of hours. Due to low viscosity properties of polyaspartic binders make it possible to formulate ultra-high solids to non-solvent coatings. The growing demands from the construction industry for features such as resilience to extreme temperatures and good adhesion for lightweight materials is driving revenue growth in the global polyaspartic coatings market. These characteristics distinguish polyaspartic coatings from other coatings such as polyurethanes and epoxy, which tend to fade or turn yellow when exposed to direct sunshine for an extended period of time.

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Impact of COVID-19 on Global Polyaspartic Coatings Market

COVID-19 pandemic adversely the growth of global polyaspartic coatings market, particularly during its initial stage. However, the development of high-solid polyaspartic coatings that emit little or no VOCs has gradually expanded the possible applications of polyaspartic coatings across a wide range of end-use sectors.

Global Polyaspartic Coatings Market – By Region

Regionally, global polyaspartic coatings market is segmented into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). During the forecast period, APAC is expected to be the fastest-growing polyaspartic coatings market, with China, Australia, Malaysia, and Indonesia being the prominent countries with promising growth possibilities. The expansion of numerous end-use industries, such as building and construction, transportation, industrial, and power generation, is driving market growth, as is the existence of a significant number of polyaspartic coating producers in the Asia-Pacific region. During the period in analysis, North America and Europe are also expected to provide significant growth opportunities to the players in global polyaspartic coatings market.

Competitive Landscape

Major players operating in global polyaspartic coatings market include BASF SE, AkzoNobel, Hempel, Carboline, Rust-Oleum, Laticrete International, SIKA AG, Feiyang Protech, Indmar Coatings, Satyen Polymers, VIP Coatings, PPG Industries, The Sherwin-Williams Company, Covestro AG, Resinwerks, Axalta Coating Systems, The Dow Chemical Company, Arkema Group, The Valspar Corporation, and Kansai Paint Co., Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Polyaspartic Coatings Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Polyaspartic Coatings Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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