Polyurea Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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Polyurea is a form of elastomer inferred from an aromatic or aliphatic isocyanate component's reaction product and a synthetic resin blend element through step-growth polymerization. It may be a monomer, polymer, or any other reaction of isocyanate, quasi-prepolymer, or prepolymer. It exhibits superior elongation characteristics as well as high tensile strength and tear resistance. Owing to its versatility and high impact resistance, polyurea finds its application across construction and industrial sectors. Intrinsically superior to epoxy coatings, polyurea coatings are increasingly used as their replacement in industrial as well as commercial buildings and infrastructure. In addition, polymer is used in a wide range of applications such as production and transportation, due to its one-of-a-kind characteristics, including quick relief time, high warm solidity, and shade similarity
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) |
Segments covered | Raw material, Product, Application, and Region |
Regions covered | North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and the Rest of LAMEA) |
Companies covered | PPG Industries, Polycoat Products, Krypton Chemical, Supe, Sherwin-Williams, Kukdo Chemicals, Wasser Corporation, Armorthane, Tecnopol, and Nukote Coating Systems |
Key drivers of global polyurea market
Owing to the infrastructural developments and real estate investments around the globe, especially in Asia-Pacific, the construction industry is likely to boost the demand for polyurea. Owing its characteristics of outlasting paints, polyurea is progressively used to provide protective coating on floors, external walls, roofs, and bridge decks. In addition, it is used in a variety of applications, such as building and transportation, due of its special attributes such as quick curing time, high thermal resilience, superior pigment strength, and enhanced water insensitivity.
Market scenario: opportunities and challenges
The increased emphasis on infrastructure and functionality in construction and manufacturing operations had a major influence on the demand in the construction sector for polyurea. In addition, rise in use of polyurea in the food & beverages sector offer lucrative opportunity for the market expansion in the near future. Moreover, increase in usage of defensive coatings in construction and automotive applications is intended to boost the consumption of polymer, owing to its persistent nature and rust-preventive measures. However, over the projected timeframe, the existence of low-cost coating alternatives such as epoxy and polyurethane is anticipated to negatively impact market growth.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global polyurea market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown. In addition, recent decline in the revenue of the polyurea market. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown.
Key segments covered
Segment | Subsegment |
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Key benefits of the report
- This study presents the analytical depiction of the global polyurea industry 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 market share.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the global polyurea market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global polyurea market research report
- Which are the leading market players active in the global polyurea 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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