Polyurea Coating Market to Grow 10.2% CAGR, Driven by Construction & Infrastructure

New York, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Polyurea Coatings Market to Reach USD 2.5 billion By 2030, Growing at a 10.2% CAGR, According to Reports Insights Research Report. The Market was Worth USD 1.15 Billion in 2022 and Expected to See Strong Growth in Construction and Infrastructure Industries.

Polyurea is a high-performance coating material that is used to protect surfaces from abrasion, corrosion, and chemical damage. Such polyurea coatings are in high demand among various industries due to their ability to form a tough and flexible film that is applied in a single application. One of the key advantages of polyurea coatings is their fast curing time. This allows for a fast return to service and decreases the amount of time and resources required for application. Moreover, polyurea coating is considered as an extremely durable and resistant coating that has the ability to withstand harsh environments. Thus, such properties make these polyurea coatings an ideal alternative in industrial and marine applications.

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Furthermore, polyurea coating is sprayed or rolled onto a surface and is also tinted to match a specific color or finish. These coatings are also applied over various substrates such as concrete, metal, and wood, making them a versatile coating option. Further, polyurea coatings are resistant to a wide range of chemicals, including fuels, oils, and corrosive liquids which results in an increased ability to withstand harsh chemical environments. Thus, the increased focus on improving the lifespan of any application such as tanks, pipelines, concrete infrastructures, and others supports the demand for polyurea coatings. Moreover, Polyurea coatings are non-toxic and do not emit harmful fumes which aids in safe usage within a wide range of environments, including food and pharmaceutical facilities. Thus, growing awareness in terms of environmental sustainability and human health safety also supports the demand for such coatings.

Polyurea Coating Market Research Report Coverages:-

Key Market Highlights

• The global polyurea coating market size is projected to exceed USD 2.50 billion by 2030 and grow at a CAGR of 10.2% during the forecast period (2022-2030).
• Globally, polyurea coatings are divided based on raw materials: aliphatic diisocyanates and aromatic diisocyanates.
• In the context of type, the market is bifurcated into pure and hybrid.
• The market is also categorized as per technology: spray coatings, hand mixing, and pouring.
• In the context of the application, the market is separated into roofs, pipelines, secondary containment (frac tanks, trailers with primary storage tanks, chemical and gasoline tanks, steel holding tanks, water tanks, landfill linings), industrial machines, transportation vehicles, floors, concrete structures (walls, yard decks, parking lots), steel structures, bridges, offshore (boat landings in offshore wind turbine foundations, spillway gates in hydropower stations), and others.
• The market is geographically segregated into five regions: Europe, North America, the Asia-Pacific, South America, and the Middle East and Africa.
• Asia Pacific and North America are anticipated to support industry growth during the forecast period in terms of the growing adoption of polyurea coatings by the building and construction industry in these regions.

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Polyurea Coating Market Segmentation Details:

Based on raw material, the aliphatic diisocyanates segment is projected to register the fastest CAGR growth during the forecast period. Polyurea coatings derived from aliphatic diisocyanates are typically used due to their properties to offer a clear and pigmented high gloss finish on industrial flooring and decorative systems. Further, the high resistance to chemical and UV light is offered by these coatings. As a result, the aliphatic diisocyanates-based polyurea coatings are preferred as exterior coatings to reduce to possibility of surface degradation due to overexposure to sunlight.

Based on type, the pure segment is anticipated to contribute the largest shares to the polyurea coating market growth. The wide availability in a range of colors and finishes helps manufacturers to meet the requirements of customization as per specific designs. Thus, segment growth is attributed to the high demand for such coating for several applications such as roofing, industrial flooring, and decorative and architectural finishes.

Based on technology, spraying technology is anticipated to contribute the largest shares to the market growth. The segment growth is mainly attributed to the high preference for uniform layers of polyurea coating by major applications, especially automotive exterior panels, and roofing. Also, this technology is primarily adopted by manufacturers due to convenience to applicators and reduced time and resources allotted for application tasks. Such technology is also mainly adopted in road maintenance by several countries due to offering protection by a uniform layer of polyurea coatings against chemical and physical abrasions.

Based on applications, the concrete structures segment is estimated to contribute substantial shares to the market growth in terms of value.  Such concrete structures include walls, yard decks, parking lots, and others. The growing infrastructural developments in several countries resulted in increased demand for polyurea coatings to maintain the structure quality and increase the lifespan of such structures.

Based on region, Asia Pacific is anticipated to offer lucrative opportunities for market growth in terms of volume and revenue. The growing initiatives by the government in terms of infrastructural developments and buildings support the demand for polyurea coatings in this region. Also, rising awareness among consumers in terms of roof coatings, wall maintenance, and flat roof repair results in the high adoption of polyurea coatings among the population.

Recent Developments

• In October 2020, PPG launched a two-part polyurea coating system named the PPG SANISHIELD 3000/5000 that meets the requirement of rapid installation and easy maintenance in industrial settings.
• In November 2021, a UK-based company named Fosroc introduced Polyurea WH 100, which offers a range of benefits for several roof waterproofing needs.
• In December 2021, a Finland-based conglomerate named Teknos unveiled a cost-effective solution for waterproofing named TEKNOPUR 400.

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List of Major Polyurea Coatings Market Players

The research report examines several factors such as regional evaluation, SWOT analysis, and segmental estimation to provide a detailed overview of market circumstances. Such examination helps in identifying several growth opportunities across multiple adoptions of innovative technologies, business strategies, product applications, and new product launches. Mentioned are the major players currently operating in the market circumstances—

• Rhino Linings Corporation
• BASF SE
• PPG Industries Inc.
• Sherwin-Williams Company
• The Euclid Chemical Company
• Lord Corporation
• AkzoNobel N.V.
• Alberdingk Boley GmbH
• Wacker Chemie AG
• Covestro AG
• Sika AG
• Huntsman Corporation
• The Valspar Corporation
• Kansai Paint Co. Ltd.
• Axalta Coating Systems
• Hempel A/S
• Jotun A/S
• Gaco Western

Global Polyurea Coatings Market Segmentation: 

• By Raw Material
  • Aliphatic Diisocyanates  
  • Aromatic Diisocyanates
• By Type
  • Pure  
  • Hybrid
• By Technology
  • Spray Coatings
  • Hand Mixing
  • Pouring
• By Application
  • Roofs
  • Pipelines
  • Secondary Containment
    • Frac Tanks
    • Trailers With Primary Storage Tanks
    • Chemical and Gasoline Tanks
    • Steel Holding Tanks
    • Water Tanks
    • Landfill Linings
  • Industrial Machines
  • Transportation Vehicles
  • Floors
  • Concrete Structures
    • Walls
    • Yard Decks
    • Parking Lots
  • Steel Structures
  • Others

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