Polyurea Coatings Market Analysis | 2023-2028

Market Insights

The polyurea coatings market was estimated at USD 1.24 billion in 2022 and is likely to grow at a CAGR of 8.49% during 2023-2028 to reach USD 2.27 billion in 2028.

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Market Dynamics

Introduction

Polyurea Coating is a polymer material used to make coating and lining substances. It has a blend of extreme application properties such as even at temperatures well below 0°C, rapid cure, and insensitivity to humidity. In addition, it offers exceptional physical properties, such as flexibility, high hardness, tear strength, tensile strength, and chemical and water resistance. The result is good weathering and abrasion resistance.

Polyurea Coatings are of different types, such as aromatic isocyanate and aliphatic isocyanate, used in various end-use industries such as building & construction, transportation, industrial, and landscapes.

Market Drivers

The major driving factors contributing to the demand for polyurea coatings are:

• The increasing requirement for improving performance, durability, and ease of use of products.
• The market is anticipated to grow as a result of the expansion of the building and construction sector as well as increased infrastructure development, particularly in emerging markets.

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Key Players

The following are the key players in the polyurea coatings market:

• Armorthane Inc.
• Kukdo Chemical Co., Ltd.
• Nukote Coating Systems
• PPG Industries, Inc.
• Rhino Linings Corporation
• Teknos
• The Sherwin-Williams Company
• Versaflex Incorporated
• Voelkel Industrial Products Gmbh (VIP)
• Wasser Corporation

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Raw Material Type

"Aromatic isocyanate segment is expected to govern the market with a market share of more than 60% in 2022"

The market is segmented as aromatic isocyanate and aliphatic isocyanate. The aromatic isocyanate segment is expected to govern the market with a market share of more than 60% in 2022, owing to its unique physical properties such as high-performance features along with abrasion and corrosion resistance for coating applications in the marine, construction, and other industries and in industrial applications. 

By Polyurea Type

"Pure polyurea segment is expected to dominate the market during the forecast period"

The polyurea coatings market is segmented as pure polyurea and hybrid polyurea. The pure polyurea segment is expected to dominate the market due to its vital role in the determination of the final coated surface properties. It is also driven by its excellent properties such as its zero VOC content, fast curing time, long pot life, outstanding chemical resistance, and moisture resistance.

By Technology Type

"Spraying technology is expected to remain the dominant segment during the forecast period"

The polyurea coatings market is segmented into spraying, pouring, and hand-mixing. The spraying technology is expected to remain the dominant segment. It is driven by its easy, quick, and accurate application on the surface, infrastructural growth in countries, along with an increase in applications in floor coatings, roof coatings, bed-linings, secondary containment, and wastewater treatments.

Regional Analysis

"Asia-Pacific is estimated to be the largest region for the market during the forecast period"

Asia-Pacific is estimated to be the largest region for the polyurea coatings market during the forecast period. The growth of the region is mainly driven by its high economic growth and substantial investment in industries, such as automotive, marine, building & construction, and manufacturing. The region is also experiencing an increased demand for premium and high-quality products due to the increasing disposable income of the middle-class population, causing a surge in demand for the polyurea coatings market.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s functional polyurea coatings market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The polyurea coatings market is segmented into the following categories:?

By Raw Material Type 

• Aromatic Isocyanate
• Aliphatic Isocyanate

By Polyurea Type 

• Pure Polyurea
• Hybrid Polyurea

By Technology Type 

• Spraying
• Pouring
• Hand Mixing

By End-Use Industry Type 

• Building & Construction
• Transportation
• Industrial
• Landscape

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the raw material types by end-use industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.