Polyurea Coatings Market Value to Surpass $2.0 Billion by 2027 – Exclusive Report by MarketsandMarkets™

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Polyurea Coatings Market Value to Surpass $2.0 Billion by 2027 – Exclusive Report by MarketsandMarkets™

May 23
20:12 2023
Polyurea Coatings Market Value to Surpass $2.0 Billion by 2027 - Exclusive Report by MarketsandMarkets™
Browse 318 market data Tables and 65 Figures spread through 274 Pages and in-depth TOC on “Polyurea Coatings Market”
The Polyurea Coatings Market is witnessing significant regional growth due to rising construction activities, infrastructure development, and industrial applications. North America, Europe, and Asia-Pacific are key regions experiencing high demand, driven by the need for durable and protective coatings in various sectors.

The global polyurea coatings market size is projected to reach USD 2.0 billion by 2027 at a CAGR of 10.3% between 2022 and 2027. Increasing requirements for improving the performance, durability, and ease of use of products are the key factors contributing to the growth of the polyurea coatings industry. This is attributed to the increased demand for consumer goods and technological & infrastructural developments. 

Polyurea coatings are produced by the chemical reaction of two major components, an isocyanate component and a resin blend component. Isocyanates component can be aromatic or aliphatic by nature, while resin blend can be an amine-terminated polymer resin, and/or amine-terminated chain extender. Polyurea coatings are environment-friendly and high-performance products with no VOC content. 

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The demand for polyurea coatings has increased in a wide range of applications, such as truck bed-liners, secondary containments, roofing, flooring, decorative & theme structures, parks, marine, water treatment, and parking decks in the transportation, building & construction, industrial, and landscape end-use industries. In the building & construction industry, polyurea coatings are applied bridge construction, commercial architecture, floor & roof coating, caulks, joint fill, parking decks, concrete repair, and structural bonds. These coatings are used for crack-bridging, improving tensile & compressive strength, waterproofing, providing corrosion, chemical, and water resistance, and enhancing other mechanical properties of a structure. 

The aromatic isocyanate is based primarily on methylene diisocyanate (MDI), toluene diisocyanate (TDI), polyoxypropylene amines, aromatic amine, and others. These aromatic isocyanates are used in the formation of polyurea coatings. Aromatic isocyanate-based polyurea has good physical properties with high-performance features along with abrasion and corrosion resistance for coating applications in the marine (boat hulls, docks, and others), construction (wall & floor coatings and others), industrial (machinery, containment, and others), and other industries. Aromatic polyurea coatings are not color stable when exposed to UV light due to the aromatic content. These factors are expected to drive the demand for aromatic isocyanate based polyurea coatings. 

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Pure polyurea is the most popular polyurea type used in the manufacturing of polyurea coatings. Pure polyurea is derived from the chemical reaction of isocyanates and amine-terminated resins. Pure polyurea plays a vital role in determining the properties of the final coated surface. It has zero VOC content and is widely used due to its excellent performance properties, such as fast curing time, long pot life, outstanding chemical resistance, and moisture resistance. The pure polyurea coatings market is highly dependent on the growth of the end-use industries. The main applications of pure polyurea include roof coat, floor coat, bonded area, and others. 

The spraying technology segment holds the maximum share of the polyurea coatings market. In this technology, the two components—isocyanates and resin blend, are pumped through storage drums/barrels into the spraying machine. With the help of this machine, the two components are brought to the required processing parameters at the accurate mix ratio of 1:1. This mixture is then sprayed onto the surface. Spraying is the most widely used coating technology as it can be applied quickly and accurately on to the surface. Infrastructural growth coupled with growth in building & construction applications such as floor coatings, roof coatings, bed-linings, secondary containment, wastewater treatments drives the polyurea coatings industry. 

In terms of region, the polyurea coatings market has been segmented into five regions, namely, APAC, North America, Europe, South America, and the Middle East & Africa. APAC is expected to record the highest growth rate during the forecast period. APAC is an emerging market for polyurea coatings, in terms of both value and volume. Increased foreign investments drive this market due to low-cost labor and readily available raw materials. The growth is mainly attributed to high economic growth and substantial investment in industries, such as automotive, marine, building & construction, and manufacturing. The APAC region is experiencing increased demand for premium and high-quality products due to the increasing disposable income of the middle-class population. This has led to an increased demand for polyurea coatings in the APAC market. The key manufacturers are adopting strategies such as mergers & acquisitions, investments & expansions, and R&D to tap the growing demand from end-use industries.

The key players profiled in the polyurea coatings market report are PPG Industries (US), Sherwin-Williams Company (US), Kukdo Chemical Co., Ltd. (South Korea), Nukote Coatings Systems (US), and VIP GmbH (Germany).

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