SAN FRANCISCO, March 9, 2020 /PRNewswire/ -- The Polyurea Coating Market is projected to achieve USD 773.78 million by 2022. Expansion of construction industry across the globe will propel overall industry growth in the forecast period. These coatings are waterproof, highly resistant to chemicals and corrosion, and have excellent adhesion to concrete and metal. It is exclusively used in transportation, mining industry, pools, machines, concrete structures, floors, pipelines, and roofs.

Drivers

These coatings are environment-friendly with no volatile organic compounds (VOC) contents, thus, will boost industry demand in the forecast period. In comparison to conventional coatings, these coatings offer advantages such as extreme weather resistance to low temperatures and high humidity, fast curing property, and high coating thickness will have a positive influence over the industry growth.

Restraints

Factors like fluctuating raw material cost and the presence of substitutes such as epoxy at lower cost will restrain industry growth. In addition, rising use of polyaspartic and polyurethane coatings owing to its low wear & tear and long life property is anticipated to show a negative impact on overall product demand in the projected period.

Opportunities

Technological enhancement will create new avenues in the industry by using antimicrobial agents in coatings to prevent product from degrading. In addition, expanding the industrial and construction sector in Asia Pacific region will create new opportunities for industry players in the forecast period.Polyurea coating industry is categorized based on product, application, and region.

Based on product type, the industry is categorized into a hybrid polyurea coating and pure polyurea coating. Hybrid polyurea coating segment is anticipated to remain dominant over the forecast period. Rising use in applications like water treatment, parking, tanks, and decks will escalate product demand in the projected period. These coatings are temperature and moisture sensitive owing to the number of catalysts used for product development. Also, exceptional adhesion to metal and concrete structure and excellent abrasion resistance properties will show a positive impact on overall market growth.

Pure polyurea segment is expected to witness the fastest growth in the forecast period owing to its low-cost property. In addition, rising demand from construction sector will propel segment growth. It is exclusively used in spray coating owing to its low sensitivity property towards humidity. Rising demand from automotive industry in the North American region will propel product demand in the coming years.

Based on application, the industry is categorized into road & bridge application, building applications, industrial application, marine application, transportation application, and others. Building application segment is expected to account for the largest revenue share and continue its dominance over the forecast period. The high growth is attributable to its rising use in several substrates such as wood, concrete, and metals across humid and high temperature environments.

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Industrial segment was the second-largest application that is expected to account for significant revenue share in the projected period. Rapid industrialization in developing countries like India and its rising use to protect machine parts, tools, and infrastructure will show a positive influence on overall segment growth in the projected period.

Geographically, Polyurea Coating industry is categorized into South America, China, Southeast Asia, USA, India, Europe, Korea, and Japan. Globally, North America is expected to account for the largest revenue share in the forecast period. Rising demand for polyurea coatings from applications like transportation and buildings & construction will gain traction over the forecast period.

Asia Pacific is expected to witness the fastest growth with significant revenue share in the projected period. This can be attributed to rising foreign investment owing to accessible raw materials and low labor costs. Besides, rise in non-residential construction activities in the region will boost overall industry growth in this region. China and India are the major consumers in this region owing to the presence of key manufacturers.

Competitive Players

Prominent players in the polyurea coating market include Tecnopol, SPI, Armorthane, Versaflex, Wasser Corporation, PPG Industries, Kukdo Chemicals, Polycoat Products, Sherwin-Williams, Krypton Chemicals, Panadur, ITW Engineered Polymers, and Supe. These players are concentrating on expansions, partnerships, novel product development, R&D activities, and mergers & acquisitions to expand its global existence.

The global Polyurea Coating market was valued at 684.85 Million USD in 2017 and will reach 773.78 Million USD by the end of 2022, growing at a CAGR of 2.47% during 2017-2022.

Polyurea coating is that derived from the reaction product of an isocyanate component and a resin blend componet. It has a composition which is a combination of the above-mentioned two coating systems. The isocyanate component can be the same as for the "pure" polyurea systems. The resin blend is a blend of amineterminated and hydroxyl-terminated polymer resins and/or chain extenders. The resin blend may also contain additives, or non-primary components. To bring the reactivity of the hydroxyl-containing resins to the same level of reactivity as the amine-terminated resins, the addition of one or more catalysts is necessary.

Polyurea Coating can be divided into two categories-Pure Polyurea Coating type and Hybrid Polyurea Coating type. Pure Polyurea Coating type sales market share accounted for the highest proportion, with a figure of 61.41% in 2017, Hybrid Polyurea Coating type account for 38.59%.

The sales market share of global Polyurea Coating in Building & Construction use, Transportation use, Industrial use and other applications have been stable year by year, at 25.51%, 42.98%, 19.69% and 11.84% respectively in 2017, and for several consecutive years, the amplitude was within one percent. This indicates that the segment of the Polyurea Coating in the global market tends to be fixed without great changes. Among them, the Polyurea Coating market has the most promising sales prospects in Transportation use.

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Europe, USA and China are the mainly consumption regions due to the larger demand in building & construction and transportation industry. In 2015, USA occupied 27.91% of the global consumption volume, while China takes market share of 15.92%. Leading consumption regions in Europe are Germany, France, UK, and Italy.

Polyurea coating industry is a niche market with high technology barrier. Major participants in the industry are medium and small companies. The main market players are Nukote Coating Systems, SPI and Supe. The products are diversified, making it hard for customers to choose from one and another. Consequently, post sales technical services are crucial to downstream customers. To Polyurea Coatings manufacturers, the core of brand building is in quality control and technological innovation.

Market Segmentation: 

• This report focuses on top manufacturers in global market, Involved the assessment of Sales, price, revenue and market share for each manufacturer, covering
• SPI
• Versaflex
• PPG Industries
• Polycoat Products
• Krypton Chemical
• ITW Engineered Polymers
• Supe
• Panadur
• Sherwin-Williams
• Kukdo Chemicals
• Wasser Corporation
• Armorthane
• Tecnopol
• On the basis of product, this report displays the Sales, revenue, price, market share and growth rate of each type, primarily split into
• Pure Polyurea Coating
• Hybrid Polyurea Coating
• By Application, this report focuses on Sales, Market share and Growth Rate of each application, can be divided into
• Building Application
• Marine Application
• Transportation Application
• Industrial Application
• Road & Bridge Application
• Others
• By Regions, this report splits global market into several key regions, with Sales, Revenue, Price and Gross Margin market share of top players in these regions, from 2014 to 2026 (forecast), like
• China
• USA
• Europe
• Japan
• Korea
• India
• Southeast Asia
• South America

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