The Global Polyurea Market is expected to register growth at a CAGR of 4.96% from 2020-2026
Published | 29 April 2020
The Global
Polyurea Market has reached USD 0.815 Billion in 2019 and estimated to reach
USD 1.15 Billion by 2026 with a significant CAGR of 4.96% during the forcast
period 2020-2026. Growing importance of spray-based elastomeric coatings in
automotive and construction industries for providing fast cure time is
anticipated to remain a favorable factor for growth.
Increasing
importance of waterproofing membrane in civil construction and residential
structures is estimated to increase the use of sealing materials and thus
likely to fuel market demand. Compared with other coatings such as paint,
epoxy, vinyl esters and fiberglass, demand for polyurea is steadily rising. In
the construction industry one of the factors driving the market for polyurea in
the construction industry is the need for lightweight structures. The
elastomeric polyurea function can help avoid chipping, abrasion, impacts of the
moisture and gouging. In addition, its non-inflammatory property and lack of
harmful air pollutants has powered the growth in polyurea coatings use.
Polyurea coatings also have high waterproofing applications across multiple
industries.
Increasing
environmental concerns towards the risks related with VOC content coatings, and
shifting trend towards the implementation of advanced as well as eco-friendly
coating technologies are expected to drive the demand for polyuria market.
The demand for safe transportation is rising due to the enhanced
transportation facilities and growing international trade. Polyurea linings are
extremely preferred in the transportation sector as they provide resistance to
industrial chemicals and other liquids. Waterline polyurea linings are used to
guard aluminum & steel bodies for water sports and marine applications.
This drives the demand for the polyuria market.
Expanding
utilization of defensive coating projected to contribute in the growth of
polyurea market
Expanding use of
defensive coatings in car and development applications owing to their rust
anticipation and high durability depends upon to advance the use of the
polymer. Polyurea is included in cement and sealant plans due to its phenomenal
bond to clean substrates, for example, bitumen, solid, wood, and impacted
steel. Expanding utilization of glues and sealants as holding specialists in
the car and development enterprises is needed to assume an important job in
advancing industry development sooner rather than later.
The construction
application category is expected to grow at highest rate in the global Polyurea
market.
It is projected
that the construction application category will grow at highest rate. It is
expected that changing preference from breakdown maintenance to condition-based
monitoring in the manufacturing sector would encourage the application of
protective coatings and thus, in effect, boost demand for the polymer in the
coming years. The Construction segment is expected to grow at a higher rate in
the coming years. Growing demand in the construction industry for waterproofing
coatings is anticipated to help segment development. Rising investments in the
construction industry are projected to drive the segment's growth in developing
countries. Growing demand for polyurea in manhole and tunnel construction, tank
liners and the subway due to its properties such as high reactivity and
insensitivity to moisture is anticipated to help segment growth. All these
factors accounts for the growth of this segment during the forecast period.
North America is expected to witness rapid growth in the Global
Polyurea market
North America represented the largest share of the global
Polyurea Infrastructure market and is projected to witness rapid growth over
the forecast period. Increasing marine and subway activities in countries such
as US and Canada are expected to boost the growth of the target market.
Additionally, increasing shale gas exploration activities in the region is
projected to generate opportunities for the manufacturers in the region, which
in turn assist the growth of the polyurea market. The region is witnessing a
rising demand for polyurea adhesives and coatings from the transportation,
building, and construction segments which will further boost the demand and adoption
of polyurea in the region during the forecast period.
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.
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