Polyurea-based Coating Market Outlook - 2028
Polyurea is an elastomer formed by the step growth polymerization of synthetic resin and isocyanate. The nature of isocyanate could be aliphatic or aromatic and the resin made by hydroxyl terminated polymer resin or an amine terminated polymer resin. Aromatic isocyanate polyurea is the best high-performance polyurea available in the market. Polyurea has the largest application in the building & construction industry. Nowadays, polyurea coating is used in variety of construction activities such as metal coating, concrete coating, and also in wood coating for their waterproof & corrosion safety. These coatings are used in commercial and also for residential applications to increase the life of structure up to 8 years. The transportation industry also has a wide use of polyurea coating such as coating of trains, buses, helicopter, and cars.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the global polyurea-based coating market.
- Polyurea-based coating has the main application of concrete surface coating in the construction industry. As a result of the global economic slowdown caused by the pandemic, the growth of the construction industry has decreased dramatically. This has caused a steep fall in the polyurea-based coating market.
- Moreover, the manufacturing industry was highly impacted by COVID-19 due to less workforce. Pipe line manufactures are the major buyers of poly urea; however, there was sluggish growth in the polyurea-based coating market.
- Water industry is a sub part of construction and a major buyer of polyurea to use in waterproof coating of canals and septic tank, which is highly declined during COVID-19 pandemic; however, there was huge depreciation in the polyurea-based coating market.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The major factor responsible for the growth of the polyurea coating is the rapid increase in industrialization, urbanization, and privatization. Furthermore, technological advancements in the construction sector that use polyurea coating drives the market growth. Polyurea coating is carried out using spraying technology, which is easy to access and provides quick results. This coating improves the tensile and compressive strength of structure. Moreover, it increases the durability by providing some important application required to structure such as joint fill, structural bonds, floor and floor coating, parking decks, caulks, and concrete repair. The global construction industry is growing with a high pace due to rise in population and high demand of residential and commercial places and led to increase in the business of polyurea coating.
In terms of market share, Asia-Pacific accounts for the major fraction of the polyurea coating market because of the major use of high technology construction field and high demand of superstructure across the region. The market in Asia-Pacific is also expected to grow at a significant pace due to the presence of a massive population in the emerging economies of the region.
Key benefits of the report:
- This study presents the analytical depiction of the global polyurea-based coating 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 global polyurea-based coating market share.
- The current market is quantitatively analyzed to highlight the global polyurea-based coating market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global polyurea-based coating market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the polyurea-based coating market research report:
- Which are the leading market players active in the polyurea-based coating market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Polyurea-based Coating Market Report Highlights
By Raw Material
By End Use Industry
Key Market Players
Wacker Chemie AG, Kukdo Chemicals, CSG Holdings Co.Ltd., LDK Solar Company Ltd., VersaFlex Incorporated, Hemlock Semiconductor L.L.C., OCI Company Ltd., PPG Induatries, Mitsubishi Materials Corporation and GCL-Poly Energy Holdings Ltd., Tokuyama Corporation, REC Silicon ASA