Polyurea Coatings Market Size and Segmentation By raw material type (Aliphatic, Aromatic) By polyurea type (Pure, Hybrid) By technology (Spraying, Pouring, Hand Mixing) By end – use industry (Building & Construction, Transportation, Industrial, Landscape), by Regions and Global Forecast 2023-2030
Report Id: SNS/C&M/2561 | July 2022 | Region: Global | 133 Pages
Report Scope & Overview:
Polyurea Coatings Market Size was valued at USD 1.46 billion in 2022, and is expected to reach USD 3.75 billion by 2030, and grow at a CAGR of 12.5 % over the forecast period 2023-2030.
An isocyanate and resin mixture can be combined to create polyurea coating, which coats the substrate with a rubber-like substance. To increase the substrate's performance effectiveness, this coating is applied. In a wide range of temperatures and humidity levels, polyurea is compatible with a variety of substrates, including concrete, wood, metals, and others. Additionally, it is environmentally friendly and has no volatile organic chemicals (VOC).
In addition, these coatings offer numerous advantages over conventional coatings, including high coating thickness, quick drying, resilience to adverse weather, high humidity, and low temperatures. Superior qualities of polyurea coatings include their high durability, resistance to corrosion, abrasion, and chemicals, as well as their capacity to waterproof, decorate, and improve structural integrity.
Market Dynamics:
Drivers:
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Other rival coating technologies are being replaced by polyurea coatings.
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An increase in demand from the construction sector.
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The implementation of VOC emissions standards.
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The growing acceptance of environmentally friendly goods
Restraints:
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More expensive than other coatings technologies.
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Existence of substitutes
Opportunity:
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Coating technology advancements and new uses
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The cutting-edge polyurea coating technology
Challenge:
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Need for skilled personnel to handle harmful raw materials
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Coating techniques and raw ingredients currently available
Impact of Covid-19:
The latest COVID-19 (new coronavirus) pandemic is unquestionably causing disruptions in global manufacturing, value chains that follow, and the logistics sector. It is anticipated that the constant supply of goods and catering to consumer demand will help keep the market in balance. However, many producers are unable to supply consumers with their goods because they are having trouble obtaining the raw materials needed for production. Due to lockdowns and reduced staff, a few small and medium-sized businesses are experiencing delays in the reopening of manufacturing facilities.
Key Players:
VersaFlex Incorporated and The Polyurea People (U.S.), Armorthane (U.S.), Lse Building Preservation Ltd (U.K.), PPG Industried, Inc. (U.S.), The Sherwin-Williams Company (U.S.), Huntsman International LLC. (the U.S.), KUDKO CHEMICAL CO.LTD. (South Korea), Rust-Oleum (U.S.), SPI Performance Coatings (U.K), Rhino Linings Corporation. (the U.S.)
By Raw Materials: Both aromatic and aliphatic isocyanates are used as basic materials in the production of polyurea coatings. Because of its superior physical characteristics, high-performance features, and abrasion and corrosion resistance for coating applications, aromatic isocyanates now have the biggest market share.
By Technology: The three methods for applying polyurea coatings include spraying, pouring, and hand mixing. Spraying has the biggest market share among these methods because to its advantages of being quick and precise in application. The market in this sector is being driven by the countries' growing infrastructure as well as an increase in applications, including secondary containment, wastewater treatment, bed linings, floor coatings, and roof coatings.
By End use: The polyurea coatings are divided into the following categories according to the end-use industry: building & construction, automotive, industrial, chemical, and others. Due to its extensive use in crack-bridging, waterproofing, enhancing tensile and compressive strength, and offering corrosion, chemical, and water resistance, the building and construction segment is holding the highest share among them.
Market Segment:
By raw material type:
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Aliphatic
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Aromatic
By polyurea type:
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Pure
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Hybrid
By technology:
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Spraying
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Pouring
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Hand Mixing
By end – use industry:
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Building & Construction
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Transportation
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Industrial
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Landscape
Regional Analysis:
Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa are some of the geographical divisions of the polyurea coatings market. Out of these, North America is anticipated to hold the largest market share for polyurea coatings and is anticipated to keep leading during the study period due to an increase in construction and repair activity there. Europe is anticipated to have the second-largest market share because of the strong demand from the established automotive industry. The strict laws against using goods with a high VOC content have also contributed to the expansion in the North American and European regions. Because of its rapid industrialization and urbanisation, as well as increasing investments in emerging economies, Asia-Pacific is expected to experience the fastest growth.
Middle East and Africa's building and construction sector is anticipated to continue growing steadily. Latin America is expected to represent considerable demand for the worldwide market because to its developing construction industry in growing nations like Brazil, Mexico, Chile, and Venezuela. According to a forecast by the Indian Brand Equity Foundation (IBEF), the country's real estate market could reach USD 1 trillion by 2030 and could contribute up to 13% of GDP by 2025.
REGIONAL COVERAGE:
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North America
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USA
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Canada
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Mexico
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Europe
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Germany
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UK
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France
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Italy
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Spain
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The Netherlands
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Rest of Europe
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Asia-Pacific
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Japan
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south Korea
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China
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India
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Australia
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Rest of Asia-Pacific
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The Middle East & Africa
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Israel
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UAE
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South Africa
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Rest of Middle East & Africa
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Latin America
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Brazil
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Argentina
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Rest of Latin America
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| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 1.46 Billion |
| Market Size by 2030 | US$ 3.75 Billion |
| CAGR | CAGR of 12.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By raw material type (Aliphatic, Aromatic) • By polyurea type (Pure, Hybrid) • By technology (Spraying, Pouring, Hand Mixing) • By end – use industry (Building & Construction, Transportation, Industrial, Landscape) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | VersaFlex Incorporated and The Polyurea People (U.S.), Armorthane (U.S.), Lse Building Preservation Ltd (U.K.), PPG Industried, Inc. (U.S.), The Sherwin-Williams Company (U.S.), Huntsman International LLC. (the U.S.), KUDKO CHEMICAL CO.LTD. (South Korea), Rust-Oleum (U.S.), SPI Performance Coatings (U.K), Rhino Linings Corporation. (the U.S.) |
| Key Drivers | • Other rival coating technologies are being replaced by polyurea coatings. • An increase in demand from the construction sector. |
| RESTRAINTS | • More expensive than other coatings technologies. • Existence of substitutes |
Frequently Asked Questions (FAQ) :
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Polyurea Coatings Market Segment, By raw material type
8.1 Aliphatic
8.2 Aromatic
9.Polyurea Coatings Market Segment, By polyurea type
9.1 Pure
9.2 Hybrid
10.Polyurea Coatings Market Segment, By technology
10.1 Spraying
10.2 Pouring
10.3 Hand Mixing
11.Polyurea Coatings Market Segment, By end – use industry
11.1 Building & Construction
11.2 Transportation
11.3 Industrial
11.4 Landscape
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profile
13.1 VersaFlex Incorporated and The Polyurea People (U.S.)
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Armorthane (U.S.)
13.3 Lse Building Preservation Ltd (U.K.)
13.4 PPG Industried, Inc. (U.S.)
13.5 The Sherwin-Williams Company (U.S.)
13.6 Huntsman International LLC. (the U.S.)
13.7 KUDKO CHEMICAL CO.LTD. (South Korea)
13.8 Rust-Oleum (U.S.)
13.9 SPI Performance Coatings (U.K)
13.10 Rhino Linings Corporation. (the U.S.)
14.Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
15. Conclusion
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