Polyurea Coating Market To Reach USD 1.7 Billion By 2027

Global Polyurea Coating Market: Key Highlights

According to the new market research report “Polyurea Coating Market by Type (Pure Polyurea Coatings, Hybrid Polyurea Coatings), by Raw Material (Aromatic Isocyanate, and Aliphatic Isocyanate), by Technique (Spraying, Pouring, Hand Mixing), by Application (Building & Construction, Automotive, Industrial, Chemical,Others)by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global polyurea coatingmarket is estimated to reach USD 1.7 Billion by 2027 at a CAGR of around 9.4% during the review period.
Polyurea surface isobtained by the polyaddition reaction of aliphatic or aromatic isocyanate or prepolymer component mixed in equal proportion of polyfunctional mixture of amines
Excellent thermal resistance to shock, flexible, waterproof, no volatile organic compound, low permeability, sustainability, and others are benefits offered by polyurea coating
Polyurea coatings are used in a variety of substrates such as metals, concrete,and wood across a range of temperature and humidity environments, and is ideal for use in many corrosion control, waterproofing, immersion, and lining applications

Polyurea Coating Market

Global Polyurea Coating Market: Key Market Dynamics

Various advantage and properties offered by the polyurea coating has gained popularity in various end-use industries such as building & construction which has expected to drive the product growth
Increasing technological advancement in technologyand processes involved in manufacturing has expected to drive the polyurea coating market growth
Availability of substitutes such as epoxy coating with similar properties and relatively lower price than polyurea coating has anticipated to hinder the market growth

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Global Polyurea Coating Market: Regional Overview

North America

North Americais anticipated to be the fastest-growingpolyurea coating marketduring the forecasted period owing torising environmental concern in the manufacturing and construction industries. For instance, the U.S. EPA regulates VOCs at Federal level in 40 CFR 59, which is the National Volatile Organic Compound Emission Standards for consumer and commercial productsfor applications such as automobile coating, architectural coating, and consumer products. Moreover, the growing renovation and repairing activities has expected to drive market growth.

Asia-Pacific

The Asia-Pacific is anticipated to witness the largest growth in the polyurea coating market during the forecasted period owing to the increasing manufacturing sectorin countries such asChina, Japan, South Korea, Taiwan, andSingapore. According to the United Nations Industrial Development Organization (UNIDO), the growth rate of manufacturing output in Asia-Pacific was 7.3% and with China as a leading country in manufacturing with a 19.2% growth rate in 2018. Moreover, the COVID-19 pandemic breakout in January 2020 has expected to hinder the growth to some extent.

Global Polyurea Coating Market: Key Players Overview

PPG Industries, Inc.:

PPG Industries, Inc. is engaged in manufacturing and distribution of a broad range of paints, coating & speciality materials, and is serving customers in consumer products, construction, industrial and transportation markets and aftermarket.The Company operates in two business segments: performance coating and industrial coating. PPG Industries, Inc. have manufacturing facilities and equity affiliates in more than 70 countries across the globe. In February 2019, PPG Industries Inc announced an investment of USD 10 million in a new facility and class-A paint line at its Greenville, South Carolina, coatings services facility. This will help the company to meet the increasing demand for class A coating application and value-added service for the automotive and large truck market.

The Sherwin-Williams Company:

The Sherwin-Williams Company isa US-based company engaged in manufacturing, distributing, sales and development of paints, coating and related products. The company hasa presence in more than 120 countries across the globe. The Companymanufactures its products under various brands such as Sherwin-Williams, Valspar, HGTV HOME by Sherwin-Williams, Dutch Boy, Krylon, Minwax, Thompson's Water Seal, Cabot and many more. In June 2017, The Sherwin-Williams Company completed the acquisition of The Valspar Corporation with an aim to create a brand portfolio, expand its product range, premier technology, and innovation platform, and expand its global footprint.

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