Polyurea Coatings Market Outlook 2020-2025: Trends & Developments Amid the COVID-19 Pandemic - ResearchAndMarkets.com

DUBLIN--()--The "Polyurea Coatings Market by Type (Pure And Hybrid), Technology (Spraying, Pouring and Hand Mixing), End-Use Industry (Building & Construction, Transportation, Industrial, and Landscape), by Raw Material, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global polyurea coatings market size is expected to grow from USD 885 million in 2020 to USD 1,481 million by 2025, at a CAGR of 10.8% between 2020 and 2025. The rising demand for polyurea coatings across various end-use industries, such as building & construction, transportation, industrial, and landscape, is expected to drive the growth of the polyurea coatings industry.

Market players offering different product grades and the shift in consumer preference toward high-quality products are also driving factors for the market. Increasing environmental concerns and growing regulatory policies have propelled manufacturers of polyurea coatings to focus on the development of eco-friendly products. However, the restraining factor for the market is the higher cost of polyurea coatings than the other coating technologies.

Based on raw material, the aromatic isocyanate segment is expected to lead the polyurea coatings market during the forecast period.

Based on raw material, the aromatic isocyanate segment accounted for the largest share of the polyurea coatings industry in 2019, in terms of both volume and value. The aromatic isocyanate-based polyurea coatings segment is highly dependent on the growth of its end-use industries, including transportation, building & construction, marine, and industrial.

Aromatic isocyanate-based polyurea has excellent physical properties with high-performance features along with abrasion and corrosion resistance for coating applications in the marine (boat hulls, docks, and others), construction (wall & floor coatings and others), industrial (machinery, containment, and others), and other industries. Aromatic polyurea coatings are not color stable when exposed to UV light due to the aromatic content.

Based on type, the hybrid segment is expected to lead the polyurea coatings market during the forecast period.

The hybrid polyurea segment is projected to lead the polyurea coatings industry during the forecast period, in terms of volume. Hybrid polyurea coatings are moisture and temperature-sensitive due to the catalyst used in their formation. They have excellent abrasion resistance and adhesion to metal and concrete body or structure. Hybrid polyurea coatings are cheaper than pure polyurea coatings and are typically used in the building & construction, industrial, and other applications.

Based on technology, the spraying segment is expected to lead the polyurea coatings market during the forecast period.

The spraying technology segment is projected to lead the polyurea coatings industry during the forecast period, in terms of both volume and value. In this technology, the two components - isocyanates and resin blend, are pumped through storage drums/barrels into the spraying machine. With the help of this machine, the two components are brought to the required processing parameters at the accurate mix ratio of 1:1. This mixture is then sprayed onto the surface. Spraying is the most widely used coating technology as it can be applied quickly and accurately on to the surface. The spraying segment is projected to exhibit high growth in the future due to the increasing demand from various applications and an expected replacement of polyurethane, epoxy, and other coatings with polyurea coatings.

Based on the end-use industry, the building & construction segment is expected to lead the polyurea coatings market during the forecast period.

The building & construction industry is projected to lead the polyurea coatings industry during the forecast period, in terms of both volume and value. Increasing construction activities across the world are expected to boost the growth of the building & construction industry. The governments of Colombia, Argentina, Bolivia, Peru, Chile, and Uruguay are making substantial investments in the construction industry. This factor is expected to help in polyurea coatings market growth in the building & construction industry.

The polyurea coatings industry in the APAC region is projected to witness the highest CAGR during the forecast period.

APAC is the fastest-growing market for polyurea coatings. The economic growth of emerging countries, such as China, India, Taiwan, Indonesia, Vietnam, and Malaysia, is projected to drive the demand for polyurea coatings in the APAC region. China is expected to lead the polyurea coatings market in the APAC region. Factors such as the availability of cheap labor & raw materials, low taxes, and less stringent environmental regulations are driving the growth of the polyurea coatings industry in China.

The polyurea coatings market comprises major solution providers, such as PPG Industries, Inc. (US), The Sherwin-Williams Company (US), Nukote Coating Systems (US), VersaFlex Incorporated (US), Armorthane Inc. (US), Wasser Corporation (US), Rhino Linings Corporation (US), Kukdo Chemical Co., Ltd. (South Korea), Voelkel Industrial Products GmBH (Germany) and Teknos (Finland). The study includes an in-depth competitive analysis of these key players in the polyurea coatings industry, with their company profiles, recent developments, and key market strategies.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in Polyurea Coatings Market

4.2 Polyurea Coatings Market, by Raw Material

4.3 Polyurea Coatings Market, Developed vs. Developing Countries

4.4 APAC Polyurea Coatings Market, by Polyurea Type and End-Use Industry

4.5 Polyurea Coatings Market, by Key Countries

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers Polyurea Coatings Replacing Other Competitive Coating Systems Technological Advancements Related to Processes and Techniques Involved in Manufacturing Growing Use in Different End-Use Industries

5.2.2 Restraints Costlier Than Competitive Coating Technologies

5.2.3 Opportunities Advancements in Coating Technologies and Emerging Applications Growing Opportunities in APAC

5.2.4 Challenges Toxic Raw Materials Existing Coating Technologies

5.3 Porter's Five Forces Analysis

5.3.1 Intensity of Competitive Rivalry

5.3.2 Bargaining Power of Buyers

5.3.3 Bargaining Power of Suppliers

5.3.4 Threat of Substitutes

5.3.5 Threat of New Entrants

5.4 Raw Material Analysis

5.4.1 Isocyanates

5.4.2 Resin Blend

5.5 Value Chain Overview

5.5.1 Value Chain Analysis

5.5.2 Disruption in Value Chain Due to Covid-19 Action Plan Against Such Vulnerability

5.6 Macroeconomic Indicators

5.6.1 Introduction

5.6.2 Trends and Forecast of GDP Covid-19 Impact on the Global Economy

5.6.3 Trends and Forecast in the Construction Industry Covid-19 Impact on the Construction Industry

6 Polyurea Coatings Market, by Raw Material

6.1 Introduction

6.1.1 Aromatic Isocyanate Transportation, Building & Construction, Marine, and Industrial Sectors to Influence the Market

6.1.2 Aliphatic Isocyanate Growth of Industries Such as Building & Construction and Transportation Expected to Increase the Demand

7 Polyurea Coatings Market, by Polyurea Type

7.1 Introduction

7.1.1 Pure Polyurea New Product Development to Boost the Demand

7.1.2 Hybrid Polyurea Growth of the Infrastructure Sector in APAC to Propel the Market

8 Polyurea Coatings Market, by Technology

8.1 Introduction

8.1.1 Spraying Most Widely Used Polyurea Coating Technology Backed by Growing Applications

8.1.2 Pouring Increasing Stringent Environmental Regulations for Zero or Non-Voc Coatings to Boost the Demand

8.1.3 Hand Mixing Used in Decorative Flooring and Industrial Flooring Applications

9 Polyurea Coatings Market, by End-Use Industry

9.1 Introduction

9.1.1 Building & Construction Increased Per Capita Income in Emerging Economies to Be the Market Driver

9.1.2 Transportation Increasing Demand for Refrigerated Food Trucks to Boost the Market

9.1.3 Industrial Population Growth and Improved Standard of Living to Be the Major Factors Driving the Market

9.1.4 Landscape Rising Construction of Theme Parks, Artificial Landscape, and Water Parks & Playgrounds to Increase the Demand for Polyurea Coatings

10 Polyurea Coatings Market, by Region

10.1 Introduction

10.2 North America

10.2.1 US Increase in Housing Investments and Growing Exports to Emerging Markets Driving the Market

10.2.2 Canada Increasing Construction Activities, Developed Transportation Sector, and Investments in R&D to Boost the Market

10.2.3 Mexico Changing Monetary and Fiscal Policies to Support Market Growth

10.3 APAC

10.3.1 China Market Driven by Foreign Investments and Availability of Cheap Labor and Raw Materials

10.3.2 India Increasing Disposable Income and Urbanization Contributing to the Demand for Polyurea Coatings

10.3.3 Japan Presence of a Well-Established Building & Construction Industry to Boost the Market

10.3.4 South Korea Government's Sustenance to Promote Advanced Technology and Manufacturing Activities Supporting the Market Growth

10.3.5 Malaysia a Sharp Increase in the Number of Construction Activities to Boost Demand

10.3.6 Indonesia Increasing Domestic Consumption and Fdis to Help in the Market Growth

10.3.7 Taiwan Increasing Government Expenditure and Continued Investments in Environmentally Sustainable and Energy-Efficient Assets to Promote Market Growth

10.3.8 Rest of APAC

10.4 Europe

10.4.1 Germany Market Growth Backed by the Presence of a Large Number of Polyurea Coating Manufacturers

10.4.2 Benelux Rising Exports and Increasing Investments in the Energy and Transport Infrastructure to Fuel the Market

10.4.3 UK Expanding Construction Industry to Drive the Market

10.4.4 France Government's Renovation & Residential Construction Policies to Be the Growth Drivers

10.4.5 Spain Increasing Construction Activities and Automotive Production to Propel the Market

10.4.6 Italy Rapidly Expanding Construction Industry to Boost the Market

10.4.7 Russia Government Initiatives for Expanding the Country's Infrastructure to Boost the Market

10.4.8 Rest of Europe

10.5 Middle East & Africa

10.5.1 Saudi Arabia Positive Performance of the Construction Industry to Boost the Market

10.5.2 UAE Ongoing Roadway, Airport, and Port (Upgrade) Projects Contributing to the Demand

10.5.3 South Africa Rising Construction Stadiums and Roads Helping in the Market Growth

10.5.4 Rest of Middle East & Africa

10.6 South America

10.6.1 Brazil Growth of the Energy and Oil & Gas Industries Promoting the Demand for Polyurea Coatings

10.6.2 Argentina High Demand for Polyurea Coatings in the Construction and Automotive Industries

10.6.3 Colombia Steady Growth of the Middle-Class Population Increasing the Demand for Automobiles and Polyurea Coatings

10.6.4 Rest of South America

11 Competitive Landscape

11.1 Overview

11.2 Market Ranking

11.3 Competitive Leadership Mapping, 2019

11.3.1 Visionary Leaders

11.3.2 Innovators

11.3.3 Dynamic Differentiators

11.3.4 Emerging Companies

11.4 Strength of Product Portfolio

11.5 Business Strategy Excellence

11.6 Competitive Scenario

11.6.1 Merger & Acquisition

11.6.2 Investment & Expansion

12 Company Profiles

12.1 PPG Industries, Inc.

12.1.1 Business Overview

12.1.2 Products Offered

12.1.3 Recent Developments

12.1.4 SWOT Analysis

12.1.5 Right to Win

12.2 The Sherwin-Williams Company

12.3 Nukote Coating Systems

12.4 Versaflex Incorporated

12.5 Armorthane Inc.

12.6 Wasser Corporation

12.7 Rhino Linings Corporation

12.8 Kukdo Chemical Co. Ltd.

12.9 Voelkel Industrial Products GmbH (VIP)

12.10 Teknos

12.11 Other Companies

12.11.1 Polycoat Products LLC

12.11.2 Technopol

12.11.3 Satyen Polymers Pvt. Ltd.

12.11.4 Prokol International

12.11.5 Cipy Polyurethanes Pvt. Ltd.

12.11.6 Ultimate Linings

12.11.7 Zhuhai Feiyang Novel Materials Co. Ltd.

12.11.8 Chemline Inc.

12.11.9 Duraamen Engineered Products Inc.

12.11.10 Krypton Chemical

12.11.11 Elastothane Ltd.

12.11.12 Isomat S.A.

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Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900