Polyurea Coatings Market, by Types (Pure and Hybrid), Raw Materials (Aromatic and Aliphatic), Applications (Mining, Pipelines, Secondary Containment, Machines, Transportation Vehicles, Roofs, and Others), Technology (Spraying and Pouring), End-Users (Building & Construction, Transportation, Industrial, and Landscape), Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

Polyurea coatings are one of the most common coatings used in the coatings market. The polyurea coatings market will witness significant growth due to favorable circumstances offered by polyurea coatings over other traditional coatings such as chromium nitride (CrN), titanium nitride (TiN) and titanium carbonitride (TiCN).The booming construction and infrastructure industry is evaluated to be one of the most significant driving factors for the development of the global polyurea coatings market.

Polyurea Coatings Market Analysis:

Polyurea coatings shield steel tanks from rusting and harmful chemicals. It protects damages from climatic or worksite components. With legitimate surface planning, substrate condition, definition decision, preliminaries, and proper installation techniques, polyurea coatings lasts long and is quick to apply. Expanding prerequisites for improving execution, sturdiness, and usability of items are the key elements adding to the development of the global polyurea coatings market.

High demand from end-users is expected to drive the global polyurea coatings market:

The major factor driving the global polyurea coatings market is a high demand from its end users, such as building & construction, mining, transportation, industrial, and landscape. Polyurea coatings are widely accepted as they are condition benevolent and consistent with standards identified with volatile organic compounds (VOCs). In addition, concentration towards ecological prevention is expected to drive the growth of the global polyurea coatings market in the forecasted period. 

Availability of substitutes is anticipated to restrain the growth of the global polyurea coatings market:

The presence of substitutes, such as epoxy at a lower cost, holds a potential threat to the global polyurea market. Moreover, rising utilization of polyaspartic and polyurethane coatings attributable to its low wear &tear and shelf life property is foreseen to show a negative effect on the global polyurea coatings market. 

Technological advancements will create enormous opportunities for the global polyurea coatings market:

Polyurea coatings are hydrophobic and less reactive to the vast majority of chemicals. With high erosion, effects, and extraordinary mechanical burdens, polyurea coatings have a remarkable bond to metal and cement. Technological advancements have prompted the accessibility of antimicrobial operators in polyurea coatings, which keep the item from debasing. Furthermore, investors looking forward to investing in untapped markets along with technological advancements are foreseen to provide opportunities for the global polyurea coatings market. 

Polyurea Coatings Market, by Types:

The hybrid segment will be most lucrative till 2027

On the basis of types, the global polyurea coatings market is classified into pure and hybrid. Hybrid polyurea coatings dominate the market share due to their increased utilization of applications in the automobile sector, which is projected to drive market growth. Pure polyurea coatings are estimated to be the fastest-growing segment, mainly due to its high quality and cost-efficiency. 

Polyurea Coatings Market, by Raw Materials:

Aromatic isocyanate-based polyurea will register a significant growth till 2027

By raw material, the global polyurea coatings market is divided into aromatic and aliphatic isocyanate-based polyurea. The aromatic isocyanate-based polyurea dominates the market share as they have superior physical properties and simple functioning. The aliphatic isocyanate-based polyurea is expected to be the fastest-growing due to technological advancements and better features.

Polyurea Coatings Market, by Applications:

By applications, the global polyurea coatings market is bifurcated into mining, pipelines, secondary containment, machines, transportation vehicles, roofs, and others. Polyurea coatings are utilized in various surfaces such as solid, metals, and wood. It is perfect to use for waterproofing, erosion control, inundation, and covering applications.

Polyurea Coatings Market, by Technology:

Pouring technology is estimated to be fastest growing till 2027 

On the basis of technology, the polyurea coatings market is classified into spraying and pouring. Pouring is the newest technology, whereas spraying is the most commonly used technology for polyurea coatings. A recent development in the building & construction industry is expected to drive the global polyurea coatings market.

Polyurea Coatings Market, by End-Users:

Building & construction industry is estimated to dominate the polyurea coatings market 

By end-users, the global polyurea coatings market is segmented into building & construction, transportation, industrial, and landscape. Amongst these, the building & construction industry dominates the market share in the polyurea coating market. It is due to the high usage of polyurea coatings in various base layers such as metal, wood, concrete, and others in high and humid temperature environments.  

Polyurea Coatings Market, by Region:

Asia-Pacific region will have lucrative opportunities for the market investors

The global Polyurea coatings market is analyzed across North America, Europe, Asia-Pacific, and LAMEA regions. Asia-Pacific region has a rapidly growing market and is anticipated to be the fastest-growing region in the forecasted period due to high foreign investment and growing demand for polyurea coatings market. North America region has a major market share and is projected to dominate the market in the predicted period. North America’s dominance in the market is due to the high demand for polyurea coatings from the building & construction and transportation industry.

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Key Participants in the Global Polyurea Coatings Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Some of the major key players in the global polyurea coatings market are PPG Industries Inc., Sherwin-Williams Co., VersaFlex Inc., Wasser Co., Rhino Linings Co., Kukdo Chemical Co. Ltd., Teknos, Polycoat Products, Voelkel Industrial Products GmBH, Armorthane Inc. and others. 

Inorganic growth strategies are preferred by market players to expand to local markets. The market players for polyurea coatings focus primarily on merger & acquisition and advanced product growth. These are the regular approaches adopted by existing companies. To further focus market players' competition research, the study discusses Porter’s five force model.

Source: Research Dive Analysis