Vancouver, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The global Polyurea Market size was USD Billion 1.23 in 2022 and is expected to register a steady revenue CAGR of 9.8% during the forecast period, according to latest analysis by Emergen Research. Rising awareness about environmental benefits and technological advancements and customizations in construction and manufacturing methods and procedures are major factors driving market revenue growth.
Polyurea coating is a sustainable option in many industries since these coatings provide numerous significant environmental advantages. Volatile Organic Compounds (VOCs) are not frequently present in polyurea formulations, which lowers harmful emissions during application and improves air quality. In addition, structures and equipment have longer useful lives, due to strength and resistance of polyuria, which saves resources by requiring less frequent upkeep and replacement. Polyurea shields underlying substrates from tainted soil and groundwater owing to product’s resilience to chemicals and moisture. Polyurea is also Ultraviolet (UV) resilience and requires less frequent recoating, which reduces waste and the environmental impact of repeated maintenance.
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Moreover, pipelines conveying corrosive and abrasive materials are protected from corrosion and abrasion by polyurea, which is used as a base coating, to avoid cathodic disbanding. Polyurea is applied as a coating on pumps to improve output while lowering cavitation and erosion. Furthermore, polyurea is also utilized to line aquaculture tanks and pond along with being used for canal repairs and leak-proofing.
However, high initial costs of polyuria coatings, poor color stability when exposed to UV light, and requirement for specialized tools and experienced installers for a quality application are key factors, which could restrain market revenue growth. Furthermore, these coatings could have a short pot life, necessitating prompt application, and might be susceptible to poor surface preparation, resulting in adhesion problems.
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 1.23 Billion |
| CAGR (2023–2032) | 9.8% |
| Revenue Forecast To 2032 | USD 3.17 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Raw material, polyurea type, technology, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | PPG Industries, Inc., BASF SE, Bayer AG, Dow, The VersaFlex Companies, Alberts Spray Solutions, LLC, W. R. Grace & Co., Huntsman International LLC, Protexx Spray Liner, and Thermo Shield LLC |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global polyurea market is fragmented, with many companies accounting for majority market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective polyurea. Some major companies included in the global polyurea market report are:
- PPG Industries, Inc.
- BASF SE
- Bayer AG
- Dow
- The VersaFlex Companies
- Alberts Spray Solutions, LLC
- W. R. Grace & Co.
- Huntsman International LLC
- Protexx Spray Liner
- Thermo Shield LLC
Strategic Development
- On 8 November 2023, Induron Protective Coatings launched its newest product Novasafe, which is a thick-film, furfuryl-modified, and ceramic-filled novolac epoxy that can withstand the worst conditions in treatment facilities. Water and wastewater treatment facility owners, administrators, and engineers are under greater strain than ever to safeguard national water infrastructure. Longer immersed coating service lives are becoming more necessary in an era of greater influent volume, more chemically severe influent, and rising regulatory pressure.
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Some Key Highlights From the Report
- The aliphatic segment is expected to account for largest revenue share in the global polyuria market during the forecast period. This is because aliphatic diisocyanate-derived polyurea can keep their physical qualities even under UV exposure circumstances and resist color changes brought on by exposure to sunshine. aliphatic diisocyanate-derived polyuria is chosen for outdoor applications because these can enhance aesthetics with a glossy look and can be utilized at lower film thickness of about 30 millimeters.
- The hybrid segment is expected to register steadily fast revenue growth rate in the global polyuria market during the forecast period. This is because hybrid polyurea is less expensive, has superior abrasion resistance, and adheres well to concrete and metallic surfaces. In contrast to pure polyurea coatings, hybrid polyurea products could not be as resistant to moisture or high temperatures.
- The Asia Pacific market is expected to account for largest revenue share in the global polyurea market during the forecast period. This is attributed to rising demand for polyurea as adhesives for various applications. Adhesives and sealants made of polyurea provide quick-curing solutions with unique characteristics. The usage of polyurea in containment liners, roof top coverings, bridges, offshore constructions, and automobile parking lot applications may be in demand due to the material's increased moisture resistance and quick setting characteristics.
- Contractors may increase material production, productivity, and profitability using the Reactor 3 system's next-generation intelligence and capability. Three product tiers Standard, Pro, and Elite are available for this new item. The tier structure is made to accommodate future modifications as requirements change over time while still serving the demands of current contractor.
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Emergen Research has segmented the global polyurea market on the basis of raw material, polyurea type, technology, end-use, and region:
- Raw Material Outlook (Revenue, USD Billion; 2019–2032)
- Aromatic
- Aliphatic
- Polyurea Type Outlook (Revenue, USD Billion; 2019–2032)
- Hybrid
- Pure
- Technology Outlook (Revenue, USD Billion; 2019–2032)
- Spraying
- Hand-Mixing
- Pouring
- Brush or Rolled
- End-use Outlook (Revenue, USD Billion; 2019–2032)
- Construction and Infrastructure
- Oil & Gas (O&G)
- Automotive
- Industrial Manufacturing
- Aerospace
- Mining
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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