The 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).
Get more information on Polyurea Coatings Market - Request Sample Report
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.
Drivers:
Other rival coating technologies are being replaced by polyurea coatings.
An increase in demand from the construction sector.
The implementation of VOC emissions standards.
The growing acceptance of environmentally friendly goods
Restraints:
More expensive than other Pretective Coatings technologies.
Existence of substitutes
Opportunity:
Coating technology advancements and new uses
The cutting-edge polyurea coating technology
Challenge:
Need for skilled personnel to handle harmful raw materials
Coating techniques and raw ingredients currently available
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.
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.
By raw material type:
Aliphatic
Aromatic
By polyurea type:
Pure
Hybrid
By Technology:
Spraying
Pouring
Hand Mixing
By Eend – Use Industry:
Building & Construction
Transportation
Industrial
Landscape
Get Customized Report as Per Your Business Requirement - Request For Customized Report
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:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The 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
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.).
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 |
The market size of the Polyurea Coatings Market is expected to reach USD 3.75 billion by 2030.
Polyurea Coatings Market is segmented into 4 categories: By Technology, By Raw Material Type, By polyurea type, and By End-use Industry.
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), and Rhino Linings Corporation (the U.S.) are leading players in the Polyurea Coatings Market.
The growth rate of the Polyurea Coatings Market is 12.5 % during the forecast period.
North America region dominated the Polyurea Coatings Market.
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
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Insulating Glass Window Market Size was valued at USD 13.50 billion in 2022, and is expected to reach USD 22 billion by 2030, and grow at a CAGR of 6.3% over the forecast period 2023-2030.
Aramid Fiber Market Size was valued at USD 4.15 billion in 2023 and is expected to reach USD 7.83 billion by 2031 and grow at a CAGR of 7.9% over the forecast period 2024-2031.
The Biogas Market, Size was valued at USD 56.02 billion in 2022 and is expected to reach USD 79.66 billion by 2030, and grow at a CAGR of 4.5 % over the forecast period 2023-2030.
The Rodenticides Market size was valued at USD 5.7 billion in 2022. It is estimated to hit USD 8.68 billion by 2030 and grow at a CAGR of 5.4% over the forecast period of 2023-2030.
The Automotive Composites Market Size was valued at USD 8.5 billion in 2022, and expected to reach USD 20.18 billion by 2030, and grow at a CAGR of 11.3% over the forecast period 2023-2030.
Non-Grain Oriented Electrical Steel Market size was USD 19.06 billion in 2022 and is expected to Reach USD 26.08 billion by 2030 and grow at a CAGR of 4.0% over the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone