The Worldwide Polyurea Coatings Industry is Projected to Reach $2 Billion by 2027 - ResearchAndMarkets.com

The "Global Polyurea Coatings Market by Raw Material Type, Polyurea Type (Pure and Hybrid), Technology (Spraying, Pouring, Hand Mixing) and End-Use (Building & Construction, Transportation, Industrial, Landscape) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global polyurea coatings market size was USD 1.2 billion in 2021 and is projected to grow at a CAGR of 8.89% during the forecast period to reach USD 2.0 billion by 2027.

The pure type segment is expected to register the highest CAGR of the overall polyurea coatings market during the forecast period, in terms of volume

Pure polyurea coatings are used in the mining industry, pipelines, vehicles, roofs, steel structures, concrete structures, floors, and pools. For many years China has been the top miner for fossil fuels, gemstones, and metals. The country's top position in the mining industry has helped Asia Pacific gain a significant share in the global mining industry as well as in the pure polyurea coatings market.

Economies rich in minerals, such as India, China, Vietnam, Malaysia, Indonesia, Australia & New Zealand, and Sri Lanka, are also actively engaged in mining activities that have helped boost the demand for polyurea coatings. This scenario is expected to continue during the forecast period.

The spraying segment of the technology is projected to register the highest CAGR during the forecast period

Market drivers in this segment are infrastructural growth in various countries, and growth in applications, including floor coatings, roof coatings, bed-linings, secondary containment, and wastewater treatments. There is strong demand for these applications from the Asia Pacific region, especially from developing countries such as China, India, Thailand, Indonesia, and Malaysia. Global polyurea coating manufacturers are establishing their manufacturing facilities or sales offices in these emerging regions to cater to the increasing demand.

Asia - Pacific polyurea coatings market is projected to register the largest market share during the forecast period

Asia Pacific is an emerging economy with many rapidly developing countries. Various industry players are willing to invest in this region. Most of the leading players in North America and Europe are planning to shift their manufacturing base to Asia Pacific as it offers inexpensive raw materials, low cost of production, and the ability to serve the local emerging market in a better way. The Asia Pacific region is experiencing increased demand for premium and high-quality products due to the increasing disposable income of the middle-class population. This has led to an increased demand for polyurea coatings in the Asia Pacific market.

Market Dynamics

Drivers

• Polyurea Coatings Replacing Other Competitive Coating Systems
• Technological Advancements in Manufacturing Processes and Techniques
• Growing Use in Various End-Use Industries

Restraints

• Costlier Than Competitive Coating Technologies

Opportunities

• Advancements in Coating Technologies and Emerging Applications
• Growing Opportunities in Asia-Pacific

Challenges

• Skilled Manpower Required to Handle Toxic Raw Materials
• Popularity of Existing Coating Technologies

Companies Mentioned

• Armorthane Inc.
• Chemline Inc.
• Cipy Polyurethanes PvtLtd.
• Duraamen Engineered Products Inc.
• Elastothane Ltd
• Isomat S.A.
• Krypton Chemical
• Kukdo Chemical Co., Ltd.
• Nukote Coating Systems
• Polycoat Products LLC
• PPG Industries Inc.
• Prokol Protective Coatings
• Rhino Linings Corporation
• Satyen Polymers PvtLtd
• Sherwin-Williams Company
• Technopol
• Teknos
• Ultimate Linings
• Voelkel Industrial Products GmbH (Vip)
• Wasser Corporation
• Zhuhai Feiyang Novel Materials Co Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/8e67kz

View source version on businesswire.com: https://www.businesswire.com/news/home/20221206005994/en/