Global polyurea coating market
is expected to reach USD 1.48 billion by 2024, according to a new report by
Grand View Research, Inc. Polyurea coating have numerous advantages over
conventional coating products, namely, epoxy, fiberglass, and paints. Its properties
such as faster setting time, resistance to atmospheric conditions, and high
mechanical strength are expected to drive the demand over the next eight years.
Polyurea coating offer high standards of corrosion protection, waterproofing,
and chemical & structural enhancement. Moreover, these exhibit superior
characteristics in spray applications such as improved mechanical, thermal, and
chemical resistance, short curing and setting time and high durability as
compared to its substitutes.
Increased resistance to crack
allows it to be utilized in a host of applications. Rising demand for coating in automotive,
buildings & construction, marine, oil & gas, metallurgy & metal
forming, aerospace, and mining is expected to propel growth over the forecast
period. Extensive R&D is being undertaken by manufacturers to develop
innovative technologies for coating manufacturing and development of superior
quality products.
In depth research report on Polyurea Coating Market
Further key findings from the report suggest:
•
Polyurea coating use in
industrial application is expected to witness growth at a CAGR of over 12.0%
from 2016 to 2024 on account of rising manufacturing sectors in emerging
economies. Numerous companies have been expanding production capacities in
order to tap potential markets which are expected to propel demand. Increasing
demand for protective coating from the oil & gas and mining sectors is
projected to have a positive impact on market growth over the next eight years.
•
Aromatic isocyanate-based
coating are expected to grow at a CAGR of over 10% from 2016 to 2024 on account
of properties such as excellent UV resistance leading to increasing application
scope in the automotive industry. However, the increased price of these
products is expected to hinder growth over the forecast period.
•
North America dominated the
market in 2015 on account of the presence of a substantial number of market
players in the region. The U.S. market for polyurea coating was valued at over
USD 150 million in 2015. Supportive regulations and rising investments in Asia
Pacific automotive industry is expected to accelerate growth.
•
In March 2014, Bayer Material
Science opened a coating, Adhesives, and Specialties Laboratory in Dubai, to
enhance its services by providing customized technical support to the customers
in the Middle East & Africa. In
February 2012, Alberts Spray Solutions LLC opened a new manufacturing site for
polyurea liners in Ohio to cater to the demand from Utica Shale Region of
Eastern Ohio and Southwest Pennsylvania. New product development, R&D
investments, and expansion strategies are being adopted by the market players
to expand their global footprint.
Grand View Research has
segmented the global polyurea market on the basis of raw material, product,
technology, application and region:
Global Polyurea coating Raw Material Outlook (Volume,
Thousand Liters; Revenue, USD Million, 2013 - 2024)
•
Aromatic Isocyanate-Based
•
Aliphatic Isocyanate-Based
Global Polyurea coating Product Outlook (Volume, Thousand
Liters; Revenue, USD Million, 2013 - 2024)
•
Pure Polyurea
•
Hybrid Polyurea
Global Polyurea coating Technology Outlook (Volume,
Thousand Liters; Revenue, USD Million, 2013 - 2024)
•
Spraying
•
Pouring
•
Hand Mixing
Global Polyurea
coating Application Outlook (Volume, Thousand Liters; Revenue, USD Million,
2013 - 2024)
•
Building & Construction
•
Transportation
•
Industrial
•
Others
Global Polyurea coating Regional Outlook (Volume, Thousand
Liters; Revenue, USD Million, 2013 - 2024)
•
North America
o
U.S.
•
Europe
o
Germany
•
Asia Pacific
o
China
o
India
•
Latin America
o
Brazil
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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