Polyurea Coatings Market is expected to reach USD 2392.7 Million by 2026 from USD 692.4 Million in 2016 at a CAGR of 13.2%.
Polyurea coating is durable, exhibits high resistance from corrosion and is flexible in nature. Polyurea coatings find wide application in construction, infrastructure, manufacturing, automobiles, and marine industries. Moreover, due to the zero VOC content of polyurea coatings, demand for traditional coatings such as polychloroprene, epoxy, and polyurethane has decreased substantially. Polyurea coatings demand from the oil & gas and chemical industries, owing to the high hydrocarbon and gas resistance properties has increased.
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Polyurea Coatings Market
Polyuria market based on type has been segmented into pure and hybrid polyurea. Hybrid polyurea segment holds major share in the market while pure polyurea segment is expected to grow at a high CAGR during the forecast period. Hybrid polyurea coatings segment has wide application in flooring, marine applications, and bed liners in trucks.
Based on technology, polyurea market is segmented into spraying, pouring and hand mixing. Spraying technology segment is widely utilised by the end-user.
Based on application, the building & construction segment is expected to hold major share of the market during the forecast period. Expansion in infrastructural development and the building & construction industry in the Asia-Pacific region are factors driving the growth of the polyurea coatings market.
Geographically, the polyurea coatings market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America holds the market of polyurea coatings. Asia-Pacific is expected to be one of the largest markets for polyurea coatings. This growth is attributed to the rising infrastructural activities and enhancing applicability across various end-use industries. Europe will show a moderate growth in market.
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Scope of the Report:
Polyurea Coatings Market, By Type:
• Pure Polyurea
• Hybrid Polyurea
Polyurea Coatings Market, By Raw Material:
• Aromatic Isocyanate
• Aliphatic Isocyanate
Polyurea Coatings Market, By Technology:
• Hand Mixing
Polyurea Coatings Market, By Application:
• Building & Construction
Polyurea Coatings Market, By Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operation in the Polyurea Coatings Market:
• VersaFlex Inc. (U.S.)
• Sherwin-Williams Company (U.S.)
• PPG Industries, Inc. (U.S.)
• Rhino Linings Corporation (U.S.)
• Nukote Coating Systems (U.S.)
• Kukdo Chemical Co., Ltd. (South Korea)
• Voelkel Industrial Products GmbH (Germany)
• Armorthane Inc. (US)
• Specialty Products, Inc. (U.S.)
• Wasser Corporation (US)