The global Polyurea Coatings Market is projected to witness significant growth in the coming years due to the increasing demand for biodiesel as a renewable source of energy. Polyurea Coatings is used as a catalyst in the production of biodiesel and its demand is expected to rise as more countries implement regulations and initiatives to reduce carbon emissions. The Asia Pacific region is expected to dominate the market, driven by the growing chemical and pharmaceutical industries in countries like China and India. The market is also expected to see growth in North America and Europe due to the rising demand for biodiesel and other renewable fuels.
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Top Leading Players In The Global Polyurea Coatings Market Are:
The Sherwin-Williams Company, VersaFlex Incorporated and The Polyurea People, Rhino Linings Corporation. , PPG Industries, Inc., Huntsman International LLC., KUDKO CHEMICAL CO. LTD., Rust-Oleum, Armorthane, SPI Performance Coatings, and Lse Building Preservation Ltd., among others.
Further key findings from the report suggest:
- The market is segmented on the basis of isocyanate type into aromatic isocyanate and aliphatic isocyanate.
- The growth of aliphatic isocyanate-based coating is forecasted to witness a higher CAGR of 16.1% during the forecast period.
- The properties of aliphatic-based coatings, including UV radiation resistance, high tensile abrasion strength, gloss retention and color stability, and high finishing quality, will fuel the growth of the segment.
- The market is segmented on the basis of product into pure polyurea and hybrid polyurea.
- Pure polyurea is forecasted to grow with the higher rate of 16.2% during the forecast period, due to its demand in the construction industry, especially for bridges, parking deck structures, exterior basement waterproofing, and pilings.
- The market is segmented on the basis of technology into spraying, pouring, and hand mixing.
- Spraying accounts for the largest market share of ~45% in the year 2020. The technique is machine based, hence reduces the application time, and increases the efficiency.
- The market is segmented on the basis of substrate into wood, metal, concrete, and others.
- Concrete substrate accounts for the largest market share of ~40% in the year 2020. These coatings are widely used in waterproofing concrete surfaces and for protecting them from salts, water, and chemicals, which can cause damage to the concrete structures.
- The market is segmented on the basis of applications into building construction, Transportation, industrial, and others.
- The industrial application is forecasted to witness the highest CAGR of 17.7% during the forecast period, due to rapid urbanization and industrialization in the emerging economies.
- The coatings are for applications such as tank coatings linings, pipe coatings, sewer linings, utilized for wastewater treatment, water tanks, pipeline restoration, and molded parts.
Segments covered in the report:
Isocyanate type Outlook (Volume, Kilo tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Aromatic
- Aliphatic
Product Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Pure polyurea
- Hybrid polyurea
Technology Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Spraying
- Pouring
- Hand-mixing
Substrate Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Wood
- Metal
- Ceramic
- Other
Applications Outlook (Volume, Kilo tons; 2020-2028 And Revenue, USD Million; 2020-2028)
- Building Construction
- Transportation
- Industrial
- Others
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Polyurea Coatings Market Upcoming Growth:
Polyurea coatings are widely used in construction and infrastructure projects for waterproofing, corrosion protection, and abrasion resistance. They are also used in the automotive industry for protecting the body of the vehicle against damage and corrosion.
The growing construction industry, particularly in emerging economies, is expected to drive the demand for polyurea coatings in the near future. Additionally, the increasing demand for polyurea coatings in the oil and gas industry for protecting pipelines and tanks from corrosion and erosion is expected to contribute to the market growth.
Moreover, advancements in technology and innovation in the development of polyurea coatings are expected to fuel the market growth further. For example, the development of eco-friendly and high-performance polyurea coatings with superior adhesion and flexibility is expected to boost the demand for polyurea coatings in various applications.
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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