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Polyurea Coatings Market Size Worth USD 1,576.8 million by 2030 | CAGR: 12.2%

The global polyurea coatings market size was US$ 875 million in 2020. The global polyurea coatings market is forecast to reach the value of US$ 1576.8 million by 2030 by growing at a compound annual growth rate (CAGR) of 12.2% during the forecast period from 2021-2030. 

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Polyurea is a chemical compound obtained from the reaction of an isocyanate component and a synthetic resin blend component. The major application of Polyurea is to provide an initial coating to the product. The compound is regarded best due to its fast curing capacity, high durability, and high tensile strength.

Factors Influencing

The increasing awareness regarding the necessity of superior quality waterproofing coating is the primary factor driving the market growth.

The profitable applications of polyurea coatings across various industries are forecast to fuel the market growth in the coming years. The benefits of the compound, including high chemical resistance, good adhesion, high tensile strength, and high-temperature resistance, are forecast to fuel the demand for the product among end-users.

Advancements and applications in marine coatings, wastewater basins, water reservoirs, molded parts, truck bed liners, boat construction may surge the demand for the product during the analysis period.

The consumer demand for better performance and durability is expected to present favorable opportunities for the market players during the forecast period.

The emergence of other alternatives may slow down the growth of the global polyurea coatings market in the future.

Geographic Overview

Globally, North America is presenting the highest revenue in the global polyurea coatings market. The region is projected to grow during the forecast period due to the rising concerns over environmental protection. In addition, the Asia-Pacific region is forecast to present a significant contribution to the growth of the global polyurea coatings market. It is due to rising investment and expansion of the marine, building & construction, automotive, and manufacturing industries. Furthermore, rising urbanization and industrialization in emerging countries are forecast to boost market growth in the coming years.

COVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the global polyurea coatings market. It is because of the disruptions in the supply chain and the decline in trade activities. Moreover, the demand for polyurea coatings suddenly decreased during the pandemic. As a result, the market witnessed a significant slowdown. Moreover, manufacturing industries experienced a shortage of workforce and raw materials. Thus, it declined the production of the product. However, as the governments begin to lift restrictions, the global polyurea coatings market is forecast to grow again during the analysis period from 2021-2030.

Competitors in the Market

  • Sherwin-Williams Company
  • Versaflex Incorporated
  • Ppg Industries, Inc.
  • Kudko Chemical Co. Ltd
  • Rhino Linings Corporation
  • Huntsman International Llc.
  • Armorthane, Rust-Oleum
  • Spi Performance Coatings
  • Lse Building Preservation Ltd.
  • Other Prominent Players

Market Segmentation

Based on raw material:

  • Aromatic Isocyanate
  • Aliphatic Isocyanate

Based on type:

  • Pure polyurea
  • Hybrid polyurea

Based on technology:

  • Spraying
  • Pouring
  • Hand-mixing

Based on the end-use industry:

  • Building & construction
  • Transportation
  • Industrial
  • Landscape

Based on Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Western Europe
      • The UK
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Western Europe
    • Eastern Europe
      • Poland
      • Russia
      • Rest of Eastern Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of South America

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