Global Polyaspartic Coatings Market By Type (Pure Polyurea, Hybrid Polyurea), Technology (Water-Borne, Solvent-Borne, Powder Coatings, Others), System (Quartz, Metallic), End-Use Industry (Building & Construction, Transportation, Industrial, Power Generation, Landscape), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Polyaspartic Coatings Market
Global polyaspartic coatings market is expected to rise to an estimated value of USD 749.48 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing levels of demand for the product from the various end-use industry especially because of the increasing urbanization giving rise to the demand from building & construction industry.
Market Definition: Global Polyaspartic Coatings Market
Polyaspartic coatings are innovative new coating technologies that are significantly more durable than traditional solutions available in the form of epoxy, urethane systems. It is a similar coating technology to polyurethane. Utilization of this coating only requires a single coating and it provides the same functionality of traditional coatings which require two or more coats. Major benefits with this technology are also the variety of colour options, more flexible nature and providing various protection/resistance against harmful environmental factors.
These coatings are generally utilized in various infrastructure to provide better protection of floors, structures as well as the various benefits such as reducing the maintenance requirements of infrastructures.
- High levels of effectiveness due to their quick drying systems; this factor is expected to increase its demand
- Better cost-effectiveness and economic benefits as compared to traditional coating solutions such as polyurethane; this factor is expected to augment growth of the market
- Easy application process is expected to positively affect the growth of the market
- Large financial costs in comparison to traditional coating solutions; this factor is expected to drive the growth of the market
- Concerns regarding the emissions of VOC amid presence of strict environmental regulations proposed by the government; this factor is expected to restrict the growth of the market
Segmentation: Global Polyaspartic Coatings Market
- Pure Polyurea
- Hybrid Polyurea
- Powder Coatings
By End-Use Industry
- Building & Construction
- Rail Car
- Power Generation
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In January 2018, Pidilite Industries Ltd. announced that they had decided to acquire a majority stake of 70% in Cipy Polyurethanes Pvt. Ltd. This acquisition is expected to increase the business operations of Pidilite Industries Ltd. and increase their company growth by providing their consumers with resin flooring and floor coatings
- In July 2017, PPG INDUSTRIES, INC. announced the launch of a new range of “Polyaspartic Coatings”. The product branded as “Kwikspar 600” and “Kwikspar 600SG” are corrosion-resistant direct-to-metal coatings that are designed to provide high curing time providing consumers with high-drying corrosion resistance solutions
Global polyaspartic coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of polyaspartic coatings market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global polyaspartic coatings market are Covestro AG; The Sherwin-Williams Company; PPG INDUSTRIES, INC.; Akzo Nobel N.V.; BASF Corporation; Hempel Group; Sika AG; Carboline; LATICRETE International, Inc.; Indmar CoatingsCorporation; RPM International Inc.; Satyen Polymers Pvt. Ltd.; The Floor Company; FLEXMAR Polyaspartics; Lifetime Flooring Solutions, Inc.; Prokemsc.com; ADVACOAT; Rhino Linings Corporation; Duraamen Engineered Products, Inc.; Enviro Epoxy Products Inc.; Iron Man Coatings. Inc.; Pidilite Industries Ltd. and PATCHAM(FZC) among others.
Research Methodology: Global Polyaspartic Coatings Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved