Polyurea Coatings Market Size, Share, Demand & Trends by 2033
The global polyurea coatings market is anticipated to
create an absolute dollar opportunity over the forecast period from 2023 to
2033 by registering a robust CAGR of 9.3%. The global market is expected to
register a valuation of US$ 902.9 million in 2023, culminating in a market
valuation of US$ 2,204.6 million in 2033. According to the Future Market
Insights historical analysis, the global polyurea coatings market registered a
healthy CAGR of 7.6%. Furthermore, in 2022, the value of the global market
reached around US$ 823.9 million.
Polyurea is known as a synthetic polymer, commonly
derived from the reaction between a diamine and a di-isocyanate. The usage of
polyurea-based coatings is common across a variety of industries such as
automotive & transportation, and building & construction. Over the
upcoming years, sales of hybrid polyurea products should dominate the market.
This is due to the fact that hybrid polyurea offers several advantages over
pure variants including effective adhesion to metallic and concentrate
surfaces. Abrasion resistance and affordability. Moreover, pure polyurea sales
are likely to continue for applications where temperature and moisture
resistance are necessary.
Request
for Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-9657
Developing economies are anticipated to have a
significant contribution to market expansion. Across these economies, there is
a propelling need for protecting equipment, machine parts, and infrastructural
investments. Car parking lots, offshore structures, bridges, rooftop coatings,
and containment liners are examples of applications where polyurea coatings
play important roles. Over recent years, industrial activities are on the rise,
resulting in the surge of the global economy. This should work in favor of
polyurea coatings companies and provide lucrative opportunities in the future.
Report Highlights
The surging population and increasing building and
construction activities combined together with strong industrial expansion are
anticipated to drive significant growth in the market. Furthermore, crucial
developing countries have showcased excellent economic development potential,
owing predominantly to increased urbanization and strong demand from the
automobile and food and beverage industries. During the next decade, the
leading end-use sectors will account for more than 70% of absolute growth.
According to a regional perspective, the East Asian
region is anticipated to account for a significant share throughout the
evaluation period from 2023 to 2033. Over recent years, environmental
regulations have become more stringent in regions such as North America and
Europe. Also, countries such as China are adopting such regulations pertaining
to VOC emissions, owing to which, there is rising demand for eco-friendly
polyuria coatings.
The application of polyurea coatings on damp surfaces
is likely to result in poor surface adherence. As a result, the surface
requires appropriate drying time before applying a polyurea coating. In
addition to that, the cost of applying polyurea coatings is significantly
greater due to the expense of spraying equipment. Handling such machinery
necessitates the use of professional laborers and technicians. The challenges
listed above may impede the acceleration of the market for polyurea coatings.
Recent Developments
Widespread environmental consciousness has resulted in
a revolution across the coating industry. Water-borne, high-solid, and powder
coatings are gaining popularity in a variety of sectors. Coating technology
advancements have also resulted in the creation of spray, injection, and
roto-cast application equipment that enhances the performance of polyurea
coatings.
Polyurea coatings have emerged as a successful and
cost-effective solution for a variety of applications in a wide range of
end-use industries, while also meeting environmental requirements. Polyurea
coatings are extremely reactive and cure fast.
Browse
Full Report: https://www.futuremarketinsights.com/reports/polyurea-coatings-market
Competitive Landscape
The global market for polyurea coatings is expected to
be fiercely competitive throughout the assessment period, owing to the presence
of regional and international players. In the recent past, players have been
firmly focused on launching new products. Prominent acquisitions have also
facilitated the expansion of prominent names.
In April 2019, SPI, a manufacturer of polyurethane
foams and polyurea customers based in the United States Washington, announced
that it had merged with VersaFlex.
More Insights into the Polyurea Coatings
Market
As per the forecasts predicted by Future Market
Insights, the North American and European regions are emerging as significant
markets where polyurea coatings sales are likely to thrive. This forecast is
owing to rising demand for eco-friendly and sophisticated coatings as a result
of rigorous VOC emission laws.
Comments
Post a Comment