Report Ocean publicize new report on the polyurea coatings market. The polyurea coatings market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the polyurea coatings market growth. Additionally, the database analyzes and estimates the polyurea coatings market both globally and regionally.
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.
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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.
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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
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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
Key questions answered in the polyurea coatings market report are:
How does a global company acquire markets?
What are its core strategies and policies?
What factors will influence the polyurea coatings market market over the forecast period?
What are the factors driving and restraining the market for polyurea coatings market?
What are the leading competitors in the global market?
Which region is growing at a higher pace in the global market?
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