Market Snapshot:
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 research analyst at AMA estimates Polyurea Coating market to grow at a compounded annual growth rate of 8.92%
Segment Analysis
AMA Research have 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 2020
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).
Market Trend
Increasing Popularity of Polyurea Coating due to Cheap in Cost and Wide Range of Application and Rising Technological Advancement Leads to New Applications for Polyurea Coatings
Market Drivers
Increasing Use Polyurea Coating of Over Other Competitive Coating Systems due to its Advantages and Rising Use of Polyurea Coating in Waterproofing Concrete, Exterior Basement Waterproofing, and Parking Deck Structures
Opportunities
Increasing Government Funding for Infrastructure Development and Growing Demand from the Asian Countries due to the Increasing Urbanization
Restraints
- High Cost of Polyurea Coating Compared to Other Competitive Coatings
- Strict Government Regulation and Policies Associated with Coatings
In addition to the aforementioned factor, Increasing Use Polyurea Coating of Over Other Competitive Coating Systems due to its Advantages
is expected to propel the growth of the market over the forecast period.
The key Vendors profiled in the study are 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). A lot of United States players are profiled in the research study indicating a strong market dependence.