Polyurea Coatings Market: Introduction
The ‘Polyurea Coatings market’ study, published by Persistence Market Research, provides an in-depth analysis pertaining to potential factors fueling the global market growth. The study also encompasses valuable insights about profitability prospects, market size, growth dynamics, and revenue estimation of the business vertical. The study further draws attention to the competitive backdrop of renowned market contenders, including their product offerings and business strategies.
Several type of polymer based coatings are available in market with different combinations and functionalities. Polyurea coatings are among the widely used coatings in the global market. Polyurea coatings are primarily obtained by polyaddition reaction of aliphatic/aromatic isocyanate or prepolymer component mixed in equal proportion of ployfuntional mixture of amines. The polyurea raw material i.e. catalyst-free isocyanate and amines, are generally sprayed over the structure in a specific ratio. Demand for polyurea based coatings is expected to witness steady growth in the global market owing to several advantages offered by such coatings over other conventional coatings. Polyurea coatings are hydrophobic and less reactive to most of the chemicals. Apart from chemical inertness, polyurea coatings offer superior physical properties like high surface strength, high thermal stability, high tensile strength along with extreme flexibility. Also, polyurea coatings can be easily pigmented for different colours, can be formulated for flexibility ranging from soft to hard elastomers. Polyurea coatings can be reinforced with fibers as per need while application.
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Polyurea Coatings Market: Dynamics
Several advantages offered by polyurea coatings have resulted in them being used in wide range of applications which primarily include concrete coatings, waterproofing applications, pipeline coatings, tank linings, truck bed liners, railcar coatings, floor joint or seam sealants, secondary containment, foam and EPS coating, among others. The growth in construction and infrastructure activities is estimated to be one of the most impactful driving factor for the growth of global polyurea coatings market. Increase in infrastructure spending including construction of subways, emphasis on improvement of public transport, urbanization, etc. are among other drivers for global polyurea coatings market. Moreover, efforts in evaluating polyurea coatings for other applications is estimated to fuel the growth of global polyurea coatings market.
Polyurea coatings application process involves high health risks and require skilled labour. The health risks associated with spraying and toxicity arising due to vapours of amines substrates and exposure to high pressure equipment is estimated to offer restraints to the growth of global polyurea coatings market. Stringent regulations pertaining to use of polyurea coatings certain other applications is expected to impact growth of the market. Also, influenced through the market opportunities, various local players and raw material suppliers have entered the market which is likely to drive the margins southwards.
Polyurea Coatings Market: Segmentation
Polyurea coatings are available in different application specific combinations and chemical compositions. Moreover, physical properties of polyurea coating vary with the application industry. The global polyurea coatings market is segment mainly under four categories which include on the basis of type of isocyanates, type of polyurea, application technique and application. On the basis of type of isocyanates, the global polyurea coatings market is segmented as Aromatic type and aliphatic type. On the basis of type of polyurea, the global polyurea coatings market is segmented as pure polyurea and hybrid polyurea. On the basis of application technique, the market is segmented as spraying, pouring and hand application. While on the basis of application, the global polyurea market is fragmented as construction, railways, manhole & sewer linings, secondary containment, water proofing/ roof coating, marine structures, architectural coating, truck bed lining (automotive), others.
Polyurea Coatings Market: Region-wise Outlook
Over the years, Europe and North America have been dominant in the global polyurea coatings market. The subway, construction, waterproofing and marine activities were the prominent applications for polyurea coatings in the regions. Asia pacific is expected to witness relatively faster growth and is expected to dominate the global market during the forecast period. Growing construction activities, infrastructure development are expected to drive the growth of polyurea market in the region.
Polyurea Coatings Market: Market Participants
The polyurea coatings market involves various international and local players which provides pure and hybrid type of polyurea coatings and raw materials. Some of the players in the global polyurea coatings market include Huntsman Corporation, Versaflex Inc., PPG Industries Inc, Wasser Corporation, Rhino Linings Corporation, Marvel Coatings, Sherwin-Williams Company, Specialty Products, Inc., Nukote Coating Systems, among others.
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