Global Polyurea Coatings Market – An Overview
The market for polyurea coatings is on an upward growth curve and the period 2018 to 2026 will witness an impressive growth rate and a higher market worth, as per Transparency Market Research. Numerous factors are lining up the market landscape, helping it chart the stellar growth curve it is anticipated to. These include growing investment, increase in infrastructure development, and notable growth in paints and coatings industry.
It therefore does not come as a surprise that over the forecast period, new opportunities of growth would be created and market players would do well to tap into these at the right time. Some of the significant developments noted in the polyurea coatings market and an overview of trends and drivers is provided below:
- Consumer awareness regarding waterproof coating is growing and this is set to be a notable factor of growth in the global polyurea coatings market. It is significant to note here that by 2030, 85% increase in volumes would be noted in the construction market, which is set to take a valuation of USD 15.5 trillion by the end of the period. This again bodes well for growth in the polyurea coatings market.
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- It is a very significant point to note here that growth in construction volumes can safely be deemed as a logical outcome of increase in population across the globe. Additional people will need additional houses and office spaces and this is leading to demand for polyurea coatings, driving the market up on to a higher growth trajectory.
- Containment solutions in construction and mining are also witnessing increased use of polyurea coatings. This is an outcome of increased focus on protection of the environment. This is set to be a notable growth factors in the global polyurea coatings market over the forecast period.
Polyurea coatings are derived from the reaction of isocyanate components and resin-blend. isocyanate components can be aromatic, aliphatic, polymer, or monomer. Products from the polyuria coatings have a wide ranging applications as these coatings are solvent-free and non-toxic. Their unique qualities such as temperature stability, favorable adhesion strength, high elongation, and water resistance are highly useful for crack bridging. Growing infrastructure developments in many parts of the world are expected to drive growth for the polyurea coatings market during 2018-2026.
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Hybrid Polyurea To Propel the Polyurea Coatings Market
The polyurea coatings markethas been divided into hybrid polyuria and pure polyurea. In terms of total revenue share, the hybrid polyuria segment is predicted to show major growth during the forecast period. The hybrid polyuria coating, due to its low cost and equivalent extent of application is expected to register significant growth for the polyurea coatings marketduring 2018-2026.
Due to growing infrastructure developments, these coatings are growing in demand. The products from the polyurea coatings marketare widely used in waterproofing concrete and for providing protection against salts, water, and chemicals. Without these coatings, chemicals can cause substration and result in significant damage to concrete structures. This critical application is a key reason for growing demand for polyurea coatings marketproducts.
Additionally, polyurea coatings marketproducts also have a wide range applications. These include bridges, manhole interiors, wastewater treatment plants/holding basins, parking deck structures, exterior basement waterproofing and potable water containment. Hence, the low costs of hybrid polyuria coatings are expected to propel the polyurea coatings marketin the near future.
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Machine-Based Coating to Open New Opportunities for the Polyurea Coatings Market
The polyurea coatings market has been bifurcated into pouring, spraying, and hand mixing, based on technology. Among these, spraying is expected to drive strong growth for the polyurea coatings marketas compared to others. The method is widely popular due to machine-based spraying which is more efficient and ideal for large scale infrastructure projects. The machine-based spraying is expected to result in significant revenue growth for the polyurea coatings market in the near future.
Additionally, construction industry faces problems with intercoat adhesion. These are often related to low quality of raw materials, manufacturing, and spray equipment. Innovations in the machine-based coatings are proving to be effective in solving these challenges. Today, innovations in machine-base spraying can solve most problems related to poor mixing with changes in machine settings. These advancements in machine-based coatings are expected to register significant growth for the polyurea coatings marketduring the forecast period.
Asia Pacific Region to Boost Growth for the Polyurea Coatings Market
The building and construction sector is witnessing a major expansion in Asia Pacific region, which is expected to brighten future prospects for the polyuria coatings market. Due to looming infrastructure renovation projects in the US, the polyurea coatings marketrevenue share is expected to gain a major boost during the forecast period.
Additionally, Asia Pacific countries such as India, Mynmar, and Vietnam are witnessing public and private initiatives to improve infrastructure considerably. These are expected to result in more demand for polyuria coatings in the region in the near future. The key application of polyuria coatings and rising demand from the Asia Pacific region is expected to open bright prospects for all players in the polyuria coating market during 2018-2026.
A competitive vendor landscape exists in this market due to the establishment of numerous players. Some main players in the polyurea coatings market include Huntsman Corporation, Albemarle Corporation, PPG Industries Inc., Nukote Coating Systems International, Covestra AG, BASF SE, and The Sherwin-Williams Company.
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