LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global polyurea market report. This market research report also lists 14 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global polyurea market is moderately concentrated. The parent market for polyurea is the global paints and coatings market. The market under study holds around 0.77% of the parent market. The key vendors of this market are BASF, Covestro, Huntsman International, PPG Industries, and Sherwin-Williams. Polyurea products that are manufactured for industrial, construction, and other applications are free of VOCs, which enhances its popularity compared to other coatings, such as epoxy, polyester, and others.
According to Kurva Samba Sivudu, a lead analyst at Technavio for specialty chemicals research, “Rapid industrialization and urbanization have increased the population in 2-tier and 3-tier cities, resulting in an increase in the demand for rails, bridges, and transportation facilities, thereby driving the growth of the polyurea market. In addition, the growth of the oil and gas, and marine industries is expected to further accelerate the growth of the polyurea market.”
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Technavio market research analysts identify the following key vendors:
BASF
BASF produces and supplies chemicals and intermediates, including plasticizers, solvents, glues, monomers, and electronic chemicals. Polyurea is manufactured by the performance products segment of BASF. The company manufactures, develops, and markets a broad range of chain extenders, curing agents, and additives for polyurea coatings. BASF manufactures polyurea coatings under the brand name Elastocoat C, which can be applied to various substrates, such as concrete, metals, bitumen, and wood.
Covestro
Covestro operates as a subsidiary of Bayer AG and is one of the world's leading producers of high-tech materials. Covestro holds a patent for the manufacturing technique that is incorporated in the production of polyurea coatings. It offers polyurea coatings products, such as Desmophen NH 1420, Desmophen NH 1520, Desmophen NH 1521, and Desmophen NH 1220, which primarily cater to the building and construction market.
Huntsman
Huntsman designs, manufactures, and markets differentiated organic and inorganic chemical products, globally. The company serves industries, such as chemicals, plastics, automotive, furniture, and packaging. Huntsman offers polyurea products for industrial markets. They use polyetheramines and chain extenders in the production of polyurea products.
PPG Industries
PPG Industries is a manufacturer and supplier of chemicals and various materials, such as specialty materials, coatings, and glass products for customers around the globe. PPG Industries manufactures polyurea coatings, which are solvent-free, not inflammable, and free from VOCs and hazardous air pollutants (HAPs), under its industrial coatings business sector. The company offers polyurea coatings under the brand name DuraBull.
Sherwin-Williams
Sherwin-Williams provides coating solutions and advanced paint. The company specializes in the development, production, distribution, and sale of paints, coatings, and related products that cater to professional, industrial, retail customers, and commercial. The company manufactures polyurea coatings and lining systems that are used extensively in the marine industry. ENVIROLASTIC AR425 is an aromatic polyurea coating and lining system manufactured by the company. The improved elastomeric properties and extraordinary toughness enable its application in various industrial operations.
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