Global Polyurea Coatings Market Key Growth Factor Analysis & Research Study 2027
Posted by Karthik Pilla on August 2nd, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “Polyurea Coatings Market by Raw Material Type, Polyurea Type (Pure and Hybrid), Technology (Spraying, Pouring, Hand Mixing) and End-Use (Building & Construction, Transportation, Industrial, Landscape) - Global Forecast to 2027” under Chemical & Materials Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The global Polyurea Coatings Market size was USD 1.2 billion in 2021 and is projected to grow at a CAGR of 10.3% during the forecast period to reach USD 2.0 billion by 2027. Polyurea coatings have no VOC content, a longer pot life, and faster curing ability. They can be used in extreme conditions (under high humidity and/or at low temperatures).
“The pure type segment is expected is expected to register the highest CAGR of the overall polyurea coatings market during the forecast period, in terms of volume.”
Pure polyurea coatings are used in the mining industry, pipelines, vehicles, roofs, steel structures, concrete structures, floors, and pools. For many years China has been the top miner for fossil fuels, gemstones, and metals. The country’s top position in the mining industry has helped Asia Pacific gain a significant share in the global mining industry as well as in the pure polyurea coatings market. Economies rich in minerals, such as India, China, Vietnam, Malaysia, Indonesia, Australia & New Zealand, and Sri Lanka, are also actively engaged in mining activities that have helped boost the demand for polyurea coatings. This scenario is expected to continue during the forecast period.
Market drivers in this segment are infrastructural growth in various countries, and growth in applications, including floor coatings, roof coatings, bed-linings, secondary containment, and wastewater treatments. There is strong demand for these applications from the Asia Pacific region, especially from developing countries such as China, India, Thailand, Indonesia, and Malaysia. Global polyurea coating manufacturers are establishing their manufacturing facilities or sales offices in these emerging regions to cater to the increasing demand.
Asia - Pacific polyurea coatings market is projected to register the largest market share during the forecast period.
Asia Pacific is an emerging economy with many rapidly developing countries. Various industry players are willing to invest in this region. Most of the leading players in North America and Europe are planning to shift their manufacturing base to Asia Pacific as it offers inexpensive raw materials, low cost of production, and the ability to serve the local emerging market in a better way. The Asia Pacific region is experiencing increased demand for premium and high-quality products due to the increasing disposable income of the middle-class population. This has led to an increased demand for polyurea coatings in the Asia Pacific market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the waterborne coatings market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments.
•By Company Type: Tier 1 – 46%, Tier 2 – 34%, and Tier 3 – 20%
The key companies profiled in this report are PPG Industries Inc. (US), and Sherwin-Williams Company (US).
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About the AuthorKarthik Pilla
Joined: March 29th, 2019
Articles Posted: 583
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