Global Polyaspartic Resin Market, By Type (Pure Polyurea, Hybrid Polyurea), System (Quartz, Metallic), End User (Building and Construction, Transportation, Industrial, Power Generation, Landscape) – Industry Trends and Forecast to 2030.
Polyaspartic Resin Market Analysis and Size
The resins industry has experienced substantial growth, fueled by the increasing need for eco-friendly construction materials. This rising demand for environmentally sustainable coatings has expanded the possibilities. The surge in paint and coating demand, driven by both new construction and the renovation of existing structures, is fast-tracking opportunities for stakeholders involved in polyaspartic resins.
Data Bridge Market Research analyses that the global polyaspartic resin market which was USD 704.34 million in 2022, is expected to reach USD 1,165.68 million by 2030, and is expected to undergo a CAGR of 6.50% during the forecast period of 2023 to 2030. “Hybrid Polyurea” dominates the type segment of the global polyaspartic resin market due to its versatility, improved properties, and wider application range compared to pure polyurea, meeting diverse industrial and commercial coating needs. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Polyaspartic Resin Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Pricing in USD, Volume in Units
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Segments Covered
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Type (Pure Polyurea, Hybrid Polyurea), System (Quartz, Metallic), End User (Building and Construction, Transportation, Industrial, Power Generation, Landscape)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
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Market Players Covered
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PPG Industries (U.S.), Huntsman Corporation (U.S.), AkzoNobel (Netherlands), BASF SE (Germany), The Sherwin-Williams Company (U.S.), Sika AG (Switzerland), Covestro AG (Germany), Adpol (U.K.), Rhino Linings Corporation (U.S.) VersaFlex Incorporated (U.S.), Watco Group (U.K.)
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Market Opportunities
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Market Definition
Polyaspartic resins result from a chemical reaction between a polyol and an isocyanate component, undergoing a stepwise polymerization process. These resins exhibit similarities and connections with polyurea resins and fall within the category of elastomeric resins. This versatile material finds applications in various industries, thanks to its exceptional properties, including fast curing, high durability, and resistance to chemicals and abrasion. Polyaspartic resins are commonly used in coatings and linings, providing protective and decorative solutions in construction, automotive, and other sectors.
Global Polyaspartic Resin Market Dynamics
Drivers
- High Performance Coatings Demand
Growing demand for high-performance coatings in industries such as construction, automotive, and aerospace is driving the adoption of polyaspartic resins due to their durability and fast-curing properties.
- Eco-Friendly Coatings Trend
The shift towards environmentally friendly coatings with low VOC (volatile organic compounds) emissions is propelling the use of polyaspartic resins, as they offer sustainable and low-impact alternatives.
Opportunities
- Infrastructure Development
Increasing infrastructure projects worldwide, including bridges, stadiums, and commercial buildings, create opportunities for polyaspartic resin coatings due to their protective and long-lasting characteristics.
- Industrial Maintenance
The need for maintenance and refurbishment of aging industrial infrastructure presents an opportunity for polyaspartic resins, which can extend the life of structures and equipment.
Restraints/Challenges
- Cost Sensitivity
One of the challenges in the global polyaspartic resin market is the relatively high cost of these materials compared to traditional coatings. Cost-sensitive industries may hesitate to adopt them.
- Limited Awareness
Limited awareness and knowledge among potential users and customers about the advantages of polyaspartic resins can restrain their widespread adoption. Education and marketing efforts are needed to address this issue.
This global polyaspartic resin market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global polyaspartic resin market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In September 2023, PPG has earned recognition from The Home Depot, winning the 2023 Innovation Award for its Glidden floor paint and concrete stain with COOL SURFACE TECHNOLOGY. This innovative formulation lowers surface temperatures by up to 20%, making it ideal for outdoor surfaces. Additionally, PPG was honored as the Supplier Diversity Tier II Partner of the Year for promoting diversity and inclusion in its supply chain network. Jaime Irick, senior vice president at PPG, expressed their commitment to innovation and inclusivity
- In September 2023, PPG has introduced high-performance ultrafiltration (UF) membranes with proprietary antifouling technology, making them effective in removing oil, grease, and contaminants from industrial process water. These membranes extend service life, reduce maintenance costs, and enable water reuse, addressing global water scarcity concerns. PPG's innovation benefits industries like oil and gas
Global Polyaspartic Resin Market Scope
The global polyaspartic resin market is segmented on the basis of type, system and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Pure Polyurea
- Hybrid Polyurea
System
- Quartz
- Metallic
End User
- Building and Construction
- Transportation
- Industrial
- Power Generation
- Landscape
Global Polyaspartic Resin Market Regional Analysis/Insights
The global polyaspartic resin market is analysed and market size insights and trends are provided by country, type, system and end user referenced above.
The countries covered in the global polyaspartic resin market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
Asia Pacific dominates the global polyaspartic resin market due to rapid industrialization, increasing infrastructure development, and a growing demand for high-performance coatings in countries like China and India.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Polyaspartic Resin Market Share Analysis
The global polyaspartic resin market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global polyaspartic resin market.
Some of the major players operating in the global polyaspartic resin market are:
- PPG Industries (U.S.)
- Huntsman Corporation (U.S.)
- AkzoNobel (Netherlands)
- BASF SE (Germany)
- The Sherwin-Williams Company (U.S.)
- Sika AG (Switzerland)
- Covestro AG (Germany)
- Adpol (UK)
- Rhino Linings Corporation (U.S.)
- VersaFlex Incorporated (U.S.)
- Watco Group (UK)
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