Global Polyurea Coating Market – Industry Trends and Forecast to 2029

Global Polyurea Coating Market, By Raw Material (Aromatic Isocyanate, Aliphatic Isocyanate), Product (Pure Polyurea, Hybrid Polyurea), Technology (Spraying, Pouring, Hand Mixing), End-Use (Building and Construction, Transportation, Industrial, Landscape) – Industry Trends and Forecast to 2029

Market Analysis and Size

Polyurea coatings have seen a considerable growth in demand in the landscape business in recent years. Aquariums, pools, water parks, theme parks, reservoirs, facades, bathtubs, and cabins are among the applications. Polyurea coatings have largely gained popularity owing to their advantageous qualities, such as quick cure and the ability to shorten maintenance cycles, these coatings are predicted to replace paint and fiberglass. Therefore, these factors are estimated to aid the market expansion over the forecast period.

The polyurea coating market was valued at USD 979.34 million in 2021 and is expected to reach USD 2202.21 million by 2029, registering a CAGR of 10.66% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

Polyurea coating basically protects pipes carrying corrosive and abrasive materials against corrosion and abrasion. It's used as a base coat to keep cathodic disbanding at bay. It's utilized as a pump coating to prevent cavitation and erosion while also increasing pump output.

Report Scope and Market Segmentation

Polyurea Coating Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Surging Applications and Usage

The expanding application in various end-use industries and increasing use of containment solutions in mining and construction sectors are some of the reasons that would likely boost the market's growth. Moreover, the polyurea coatings replace other competitor coating systems, which is also estimated to carve a way for the market's growth.

Furthermore, the superior qualities of polyurea coatings include high durability, corrosion resistance, abrasion resistance, chemical resistance, waterproofing, ornamentation, and structural upgrades, which are major factors driving the polyurea coatings market. Additionally, their wide acceptability as they are environment-friendly and compliant with norms related to VOCs, will also drive market value growth. The surging urbanization across the globe and increasing disposable income of the middle-class population are projected to bolster the growth of the market.

Opportunities

• Growing Awareness and Technological Developments

Furthermore, the growing consumer awareness regarding deployment of better quality waterproofing coating in residential buildings extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the technological progression associated to processes and techniques implicated in manufacturing coupled with increasing development in coating technologies will further expand the future growth of the polyurea coating market.

Restraints/Challenges

• Negative Impact on Health

The installation of polyurea coatings poses a significant health risk. The health concerns connected with spraying and toxicity caused by amine substrate vapors and exposure to high-pressure equipment are expected to limit the global polyurea coatings market's growth.

• Low-quality Materials

Also, the intercoat adhesion is a major concern within the construction sector. This is because of poor raw material, production, and spray equipment quality. This factor is projected to prove as a demerit for the polyurea coating market. Therefore, this will challenge the polyurea coating market growth rate.

This polyurea coating 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 polyurea coating market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Polyurea Coating Market

The recent outbreak of coronavirus had a negative impact on the polyurea coating market as it has resulted in slowdown of the building and the construction sector. Delays in building activities significantly impact over 65% of enterprises in the construction ecosystem. The building industry's downturn may result in a drop in global demand and sales as a result of a shortage of output. The COVID-19 epidemic has negatively impacted most industries as a result of worldwide lockdowns, supply chain interruptions, and strict social distancing measures. The majority of industrial industries are encountering issues such as a lack of raw materials, a labor shortage, and a supply chain disruption, all of which cause output to cease.

However, the market is projected to witness an upsurge in demand post-COVID as individual regulatory bodies have relaxed the enforced lockdowns. The suspended and cancelled operations have also continued working and as a result the market is estimated to expand.

Recent Development

• In January 2021, VersaFlex, a maker of polyurea, epoxy, and polyurethane coatings for water and wastewater infrastructure, flooring, transportation infrastructure, and industrial applications, announced that it had achieved a definitive agreement to buy PPG. DalFort Capital Partners has VersaFlex as a portfolio business. Subject to customary closing conditions, the transaction is scheduled to close in the first quarter of 2021. The financial details were kept under wraps.

Global Polyurea Coating Market Scope

The polyurea coating market is segmented on the basis of raw material, product, technology and end-use. 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.

Raw Material

• Aromatic Isocyanate
• Aliphatic Isocyanate

Product

• Pure polyurea
• Hybrid polyurea

Technology

• Spraying
• Pouring
• Hand-mixing

End Use

• Building and construction
• Transportation
• Industrial
• Landscape

Polyurea Coating Market Regional Analysis/Insights

The polyurea coating market is analyzed and market size insights and trends are provided by country, raw material, product, technology and end-use as referenced above.

The countries covered in the polyurea coating 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 (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the polyurea coating market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth across this region can be attributed to the factors such as growing environmental consciousness in the manufacturing and construction industries, particularly in China, India, and Japan.

On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022 to -2029, due to the growing building and construction industry and increasing infrastructural development within the emerging economies in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 Polyurea Coating Market Share Analysis

The polyurea coating 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 polyurea coating market.

Some of the major players operating in the polyurea coating market are

• PPG Industries, Inc. (U.S.)
• The Sherwin-Williams Company (U.S.)
• Nukote Coating Systems, Intl (U.S.)
• The VersaFlex Companies (U.S.)
• Armorthane (U.S.)
• POLYFLEX AND WASSER® (U.S.)
• Rhino Linings Corporation (U.S.)
• Kukdo Chemical Co., Ltd. (South Korea)
• VIP Coatings Intl Gmbh & Co. KG (Germany)
• Huntsman International LLC. (U.S.)
• Rust-Oleum (U.S.)
• SPI Performance Coatings (U.K)
• Lse Building Preservation Ltd (U.K.)
• Teknos Group (Finland)
• BASF SE (Germany)
• M&I Materials Limited (U.K)
• Dupont (U.S.)
• SOLVAY (Belgium)
• W. R. Grace & Co.-Conn. (U.S.)