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Polyaspartic Coatings Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A07318
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Dec 2020 | 40 Views
 
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Polyaspartic Coatings Market Analysis 2020-2027:

 

Polyaspartic coatings are produced by mixing resin and chemical agent to introduce a curative response that hardens the materials. They are also produced by compass polymeric condensation of maleic anhydride and ammonia in the presence of Arctic solvent without active hydrogen to provide polysuccinimide and hydrolyzing the resulting polysuccinimide to attain polyaspartic coatings. These coatings provide high durability and hardness to the coating resins. They are extensively used in the building & construction industry. Polyaspartic is appropriate for residential floor coating, owing to its durability and anti-slip additives. Furthermore, it is used in bridge construction, commercial architecture, floor & roof coating, caulks, joint fill, parking decks, concrete repair, and structural bonds.

Market scope and structure analysis:

Report Metric

Details

Market size available for years

2019–2027

Base year considered

2019

Forecast period

2020–2027

Forecast unit

Value (USD Million)

Segments covered

Type, Application, Technology, and Region

Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

Companies covered

Covestro AG, The Sherwin-Williams Company, PPG Industries, BASF SE, AkzoNobel, Hempel Group, Rust-Oleum, Laticrete, SIKA AG, Satyen Polymers, and VIP Coatings

COVID-19 scenario analysis:

  • The novel coronavirus (COVID-19) outbreak has led to a slowdown of the economic growth in many countries across the world.
  • The main reasons for the decline of the polyaspartic coatings market are labor relocation and all large and small industries have ceased production.
  • These recesses in processes have directly impacted the revenue flow and demand for polyaspartic coatings as these coating are mainly used in building & construction activities. However, due to the outbreak, all construction activities have halted.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The polyaspartic coatings market is growing at a healthy rate. On the basis of technology, the polyaspartic coatings market is divided into solvent-based, water-based, and powder-based. The water-based technology is most widely used across the globe, and is expected to beat the solvent-based technology to drive the market. The reason for this is the strict volatile organic compound (VOC) emission rules for solvent-based polyaspartic coatings. In addition, environmental concerns regarding the use of solvents in coatings also increase the demand for water-based technology.

On the basis of end-user, the market is divided into construction, automotive, and rail & cars, which is further sub-segmented into residential, industrial & commercial, power generation, and transportation. Rise in demand for polyaspartic coating in construction industries, owing to its durability and anti-slip additives, makes it applicable for residential floor coating, and is expected to propel the market growth.

Rise in demand for bio-based products is also estimated to provide an opportunity for the market. Polyaspartic coatings process is more efficient and the total productivity is increased, which lower the overall painting costs and faster return-to-service. Furthermore, polyaspartic coatings in marine applications is increasing, owing to superior weather, UV, chemical, scratch, & stain resistance; long-term color & gloss retention; the high film builds without blistering, and low VOC content.

The rise in focus on new product development, innovations, and R&D activities is expected to generate lucrative opportunities for the polyaspartic coatings market growth.

However, there are some restraints that hamper the polyaspartic coatings market growth, such as the polyaspartic coatings value chain is capital intensive due to high cost of initial investment, ownerships costs, and transportation costs. In addition, the development of cheaper substitutes is expected to hamper the growth of the overall market.

Surge in usage of polyaspartic coatings in agriculture and industrial applications:

Based on region, the polyaspartic coatings market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest market share for polyaspartic coatings, owing to rise in new buildings & construction projects and renovation of existing buildings. Whereas, growing initiatives taken by the governments concerning eminence products and foreign direct investment (FDI) boost the housing and commercial sectors. Increase in the automotive sector in China, India, Indonesia, Malaysia, Thailand, and Vietnam is expected to boost the demand for polyaspartic coatings. Polyaspartic coatings are used as content of plastics in vehicles that need low-temperature preserve coating systems. The automotive industry is rapidly moving toward an 80°C cure process and faster drying, with very high gloss. Polyaspartic is UV stable and is appropriate for external applications.

Key segments covered:

Segments

Sub-segments

Type

  • Pure Polyurea
  • Hybrid Polyurea
  • Others

 

 

Technology

  • Water-Borne
  • Solvent-Borne
  • Powder Coatings
  • Others

 

Application

  • Building & Construction
  • Transportation
  • Industrial
  • Power Generation
  • Landscape
  • Marine
  • Others

Key benefits of the report:

  • This study presents the analytical depiction of the polyaspartic coatings market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the polyaspartic coatings market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the polyaspartic coatings market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the polyaspartic coatings market research report:

  • Which are the leading market players active in the market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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