Scope of the Study
Polyurea is an elastomer made up using the reaction of a synthetic resin blend component and an isocyanate component by the step-growth polymerization process. There are two types of polyurea coating available in the operating market including hybrid polyurea coating and pure polyurea coating. Whereas, hybrid polyurea coating holds maximum share in the market due to cheaper in price and wide range of applications. Also, growing applications of polyurea coating in waterproofing concrete, exterior basement waterproofing, and parking deck structures have been supplementing the growth of the market. However, the High Cost of Polyurea Coating Compared to Other Competitive Coatings and High Availability of Alternatives in the Operating Market are the factors that have been limiting the growth of the market.
The market study is being classified by Type (Pure Polyurea Coating and Hybrid Polyurea Coating), by Application (Building Application, Marine Application, Transportation Application, Industrial Application, Road & Bridge Application and Others) and major geographies with country level break-up. According to AMA, the Global Polyurea Coating market is expected to see growth rate of 8.92% and may see market size of USD1681.06 Million by 2024.
Versaflex Inc. (United States), PPG Industries (United States), Sherwin-Williams (United States), Rhino Linings (United States), Kukdo Chemicals (South Korea), Nukote Coating Systems (United States), VIP GmbH (Germany), Specialty Products, Inc. (United States), PPG Industries (United States) and Polycoat Products (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Krypton Chemical (Spain) and Feiyang Group (China).
The Vendors having a strong hold in the market are Versaflex Inc., PPG Industries, Sherwin-Williams, Rhino Linings, Kukdo Chemicals, Nukote Coating Systems. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Polyurea Coating market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Polyurea Coating market by Type, Application and Region. On the basis of Type, Hybrid Polyurea Coating are dominating the market in the year 2018
On the basis of geography, the market of Polyurea Coating has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Raw Material , the sub-segment i.e. Aromatic Isocyanate will boost the Polyurea Coating market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Pouring will boost the Polyurea Coating market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Use Polyurea Coating of Over Other Competitive Coating Systems due to its Advantages
- Rising Use of Polyurea Coating in Waterproofing Concrete, Exterior Basement Waterproofing, and Parking Deck Structures
- Increasing Popularity of Polyurea Coating due to Cheap in Cost and Wide Range of Application
- Rising Technological Advancement Leads to New Applications for Polyurea Coatings
- High Cost of Polyurea Coating Compared to Other Competitive Coatings
- Strict Government Regulation and Policies Associated with Coatings
- Increasing Government Funding for Infrastructure Development
- Growing Demand from the Asian Countries due to the Increasing Urbanization
- High Availability of Alternatives in the Operating Market
- Intense Competition among Key Players and High R&D Cost for Polyurea Coatings
Market Leaders and their expansionary development strategies
On January 2018, Pidilite Industries (Indian adhesives manufacture) has announced the acquisition of 70% stake in floor coating manufacture (CIPY Polyurethanes Pvt. Ltd). The acquisition has done in approximately USD 15.36 million cash. The main aim of the acquisition is to expand resin flooring and floor coatings business across the globe
On December 2018, Fosroc has announced of its new green roof waterproofing grade of polyurea. The new product named as Polyurea WH 200GR is designed particularly for the green roof market. The new product has the potential to make new opportunities for the company in the green roof waterproofing market.
Key Target AudiencePolyurea Coating Manufacturers, Raw material suppliers, Suppliers and Distributors, Industry associations, Private Research Organization, Government Associations and Agencies, Potential Investors and Others
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