Global Polyurea Coatings Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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MarketResearch.biz presents in-depth and insightful information on the global polyurea coatings market in upcoming report titled, “Global Polyurea Coatings Market”. The global polyurea coatings market is expected to be valued at US$ X Mn in 2019 and is projected to register moderate CAGR of X% in terms of value between 2018–2028. The report provides global insights, trends, revenue details, drivers, challenges and external threats, future opportunities till 2028. Also, it contains detailed profiles of various prominent players existing in the global polyurea coating market including financials, strategic movements, recent technological advancements, product launches, and their market share in the global market. The global polyurea coatings market report has been segmented on the basis of product type, raw material, technology, application, and region.
Objective of the Report
The global polyurea coatings market report is generated on the basis of analysis, synthesis, and interpretation of details and information obtained from various primary and secondary sources. The main objective of the report is to provide a holistic view of the market. In addition, economic factors along with other factors have been considered and presented in the report such as PEST Analysis and Porter’s Five Forces Analysis to assess the impact on the target market in the past, and current impacts to estimate and project about future scenarios of the global polyurea coatings market.
Polyurea elastomer is derived by step-growth polymerization of a reaction product obtained by the combination of an isocyanate component and a synthetic resin blend component. It is widely used in the manufacturing of spandex. Polyurea is also used for coatings in boats as it has good shelf life and longer durability as compared to bitumen.
Drivers, Challenging Factors, Key Trends, and Opportunities
Growing demand for polyurea coatings from building and construction sector is a major factor, anticipated to drive growth of the global polyurea coatings market. In addition, increasing demand for polyurea coatings from various applications such as transportation, industrial, and landscape, owing to its high resistivity characteristic is another factor expected to fuel growth of the target market in the coming years. Moreover, increasing demand for hybrid polyurea from flooring, bed liners in trucks, and marine applications is another factor expected to propel growth of the target market to a significant extent during the forecast period.
However, the rising price of polyurea coatings as compared to other coatings technologies is a major factor, which may hamper the demand for polyurea coatings and restrain growth of the target market. Moreover, stringent rules and regulations regarding toxic raw materials is another factor may hinder demand and growth of the global polyurea coatings market. Rising demand for coating technology for impending applications is about to create an opportunity for the target market.
Analysis by Segment
By Product Type
Among the segments based on types of products, the hybrid polyuria coatings segment is expected to witness highest growth rate during the 10-year period. This can be attributable to product features of hybrid polyurea coatings such as similar properties as compared to other available options at low cost.
By Raw Material
Among the raw material segments, the aromatic isocyanate-based products segment is anticipated to register considerable growth rate over the next 10 years in the target market.
Among the segments based on technology, the spraying segment is estimated to account for major revenue share in the global market, owing to higher efficiency, minimal requirement of labor, and increasing focus of manufacturers towards development of lightweight portable spraying equipment which is expected to result in higher demand for spraying equipment and drive growth of the segment.
Among the major four applications of the product, the building and construction segment is estimated to dominate in the global market and is projected to maintain the position owing to rapidly increasing construction and re-construction activities across major countries.
Analysis by Region
The North America polyurea coatings market accounted for major share in terms of revenue and volume in the global polyurea coatings market in 2018 and is expected to maintain its dominance over the forecast period. In the same year, the Europe market accounted for second-highest share in the global polyurea coatings market in terms of revenue during the 10-year period. The polyurea coatings market in the Asia Pacific is expected to witness fastest growth rate over the next 10 years.
Global Polyurea Coatings Market Segmentation:
Segmentation on the basis of Product Type:
- Pure Polyurea
- Hybrid Polyurea
Segmentation on the basis of Raw Material:
- Aromatic Isocyanate
- Aliphatic Isocyanate
Segmentation on the basis of Technology:
- Hand Mixing
Segmentation on the basis of Application:
- Building & Construction
Segmentation on the basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- PPG Industries, Inc.
- The Sherwin-Williams Company
- Nukote Coating Systems
- VersaFlex Incorporated and The Polyurea People
- Specialty Products Inc.
- Armorthane Inc.
- Wasser Corporation
- Rhino Linings Corporation
- KUKDO CHEMICAL CO., LTD.
- Voelkel Industrial Products GmbH
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