Polyurea Coatings Market

Polyurea Coatings Market Size (2023-2028)

Polyurea Coatings Market is predicted to progress from $ 900.4 million in 2022 to $ 1,581.8 million in 2028, with an annual expansion rate of 12.2% during the foreseen period.

Polyurea coating manufacturers are investing in new product development and expanding their product portfolio to meet growing consumer calls. The market for pure polyurea coatings is highly dependent on the expansion of end-use industries. The main applications of pure polyurea include roof, floor, and bonded surface coating, among others. Polyurea coating is a kind of coating that is applied to enhance the performance efficiency of the substrate. It is produced by reacting an isocyanate with a resin mixture that forms a gummy substance that covers the substrate. It is suitable with different substrates like concrete, metals, and others in a broad variety of temperatures. In addition, it is ecological and does not contain volatile organic compounds (VOCs). Different traditional coatings are commercially present.

Pure polyurea is obtained from the reaction of chemicals of isocyanates and amine-terminated resins. Pure polyurea plays an essential role in determining the properties of the final coated surface. It is VOC-free and widely employed owing to its excellent performance properties, such as fast cure time, long shelf life, excellent chemical resistance, and moisture resistance. Polyurea coating is a one-step reaction between an isocyanate-resin blend component such as methylene diphenyl diisocyanate (MDI) or hexamethylene diisocyanate (HDI) with amine-terminated resins. It provides a protective coating so that all kinds of industries require polyurea coating. It gives high durability, thus recently escalating the call for waterproof construction. Owing to its water resistance capacity, it influences the market for polyurea coatings. Various types of polymer-based coatings are commercially available with different combinations and characteristics. Polyurea coatings are among the most widely employed coatings on the world market. They are mainly obtained by the polyaddition reaction of an aliphatic/aromatic isocyanate or a prepolymer component mixed in the same proportion of a functional amine mixture. The polyurea raw material, i.e. isocyanate and amines without catalyst, is generally sprayed onto the structure in a specific proportion. The call for polyurea-based coatings is predicted to grow steadily in the worldwide market owing to several advantages these coatings offer over other conventional coatings.

Polyurea Coatings Market Drivers:

The escalating calls to improve the performance, durability, and usability of products are the key factors contributing to the expansion of the global polyurea coatings market. This is attributed to the escalated call for consumer goods and to technological and infrastructure developments. Emerging applications of polyurea coatings in different end-use industries with the advancement of coating technology are predicted to drive the market during the foreseen period.

Restraints in the Polyurea Coatings Market:

The availability of alternatives, for example, epoxies at a lower cost than polyurea coatings, is likely to hamper the worldwide market for polyurea coatings during the foreseen period.

Opportunities in the Polyurea Coatings Market:

The escalating popularity of green products is predicted to drive the call for polyurea coatings during outlook periods. Strong call from the building and construction, transportation, industrial and chemical industries is predicted to drive the global polyurea coatings market during the foreseen period 2020-2025.

Challenges in the Polyurea Coatings Market:

The process of applying polyurea coatings involves high health risks and requires skilled labor. The health risks associated with spraying and toxicity from the vapors of amino substrates and exposure to high-pressure equipment are believed to be holding back the expansion of the worldwide polyurea coatings market. Strict regulations regarding the use of polyurea coatings in certain other applications are predicted to affect market expansion.

POLYUREA COATINGS MARKET REPORT COVERAGE:

Market Segmentation:

Polyurea Coatings Market - By Type

• Pure Poly Urea

• Hybrid Poly Urea

Polyurea Coatings Market - By Raw Material

• Aromatic Isocyanate

• Aliphatic Isocyanate

Polyurea Coatings Market - By Technology

• Spraying

• Pouring

• Hand Mixing

Spray application assists improve mechanical, chemical, and thermal resistance. It has high durability, a short setting time compared to others, which is increasing its demand in the international marketplace. 

Polyurea Coatings Market - By Application

• Building & Construction

• Industrial

• Transportation

• Landscape

Buildings and constructions dominate the market over others owing to the growing call for watertight buildings. The polyurea coating product has a property such as the ability to resist humidity that influences call.

Polyurea Coatings Market - By Region

• North America Polyurea Coatings Industry includes the U.S. and Canada.

• Europe Polyurea Coatings Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific Polyurea Coatings Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America Polyurea Coatings Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

• The Middle East & Africa Polyurea Coatings Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, and the rest of MEA.

Currently, North America and Europe had a maximum market share for polyurea coatings owing to the escalating call for environmental resistance in the manufacturing and construction industries. In Canada and Mexico, the market call for polyurea coatings is predicted to increase owing to the strong presence of the mining and production site present in this region. This region has abundant availability of minerals such as silver, and gold. The Asia Pacific had the maximum market share for polyurea coating products. This expansion is owing to the growing awareness of protective coatings in industrial and automotive applications. China and India show the huge effect of expansion in the market because if the call for construction and waterproof construction is escalating. East and South Asia have a positive effect on the world market.

North America is predicted to be the biggest industry for polyurea coatings and to lead the industry throughout the foreseen period owing to expansion in the renovation and repair business in the region. Europe is predicted to be the second biggest industry for polyurea coatings owing to high call from the established automotive business. Strict regulations against the use of products with high VOC content are contributing to the expansion of the North American and Europe region. Asia-Pacific is predicted to be the fastest-growing market for polyurea coatings worldwide owing to escalated investment in emerging economies and rapid industrialization and urbanization. The large auto industry in China is further fueling the call for polyurea coatings. The Middle East and Africa area is predicted to show continuous expansion in polyurea coatings mainly from its building fragment. Latin America is also predicted to experience a significant call for polyurea coatings from its evolving construction industry, primarily in Brazil, Mexico, Chile, and Venezuela, among others.

Recent Developments 

• One of the world's biggest polymer firms, Covestro AG, introduced a variety of smart and durable polyurethane (PU) coatings for the building, automotive, shoe, and furniture businesses at the new exhibition.

• Hybrid Coating Technologies Inc. declared that after so many years of advancement Comex, a part of PPG Businesses Inc. has created the latest coating good utilizing Hybrid's zero isocyanate polyurethane technology. The product was newly introduced in the Mexican industry.

Polyurea Coatings Market Key Players:

1. PPG Industries, Inc. (US)
2. The Sherwin-Williams Company (US)
3. Nukote Coating Systems (US)
4. VersaFlex Incorporated (US)
5. Armorthane Inc. (US)
6. Wasser Corporation (US)
7. Rhino Linings Corporation (US)
8. Kukdo Chemical Co., Ltd. (South Korea)
9. Voelkel Industrial Products GmBH (Germany)
10. Teknos (Finland).