Polyurea Coatings Market is expected to reach US$ 1,173.44 million by 2028

Rapid Growth of Construction & Infrastructure Sector to Escalate Polyurea Coatings Market Growth During 2022–2028

According to our latest market study on “Polyurea Coatings Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Raw Material, Type, Technology, and Application,” the polyurea coatings market size is expected to grow from US$ 681.10 million in 2022 to US$ 1,173.44 million by 2028; it is estimated to register a CAGR of 9.5% from 2022 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Polyurea is an elastomer formed by the step-growth polymerization of synthetic resin and isocyanate. The nature of isocyanate could be aliphatic or aromatic, and the resin made of hydroxyl-terminated polymer resin or an amine-terminated polymer resin. Aromatic isocyanate polyurea is the best high-performance polyurea available in the market.

Polyurea has the largest application in the building & construction industry. In the construction industry, polyurea coating is used for metal, concrete, and wood coating for waterproofing and corrosion safety. The coatings are used in commercial and residential applications to increase the life of a structure. The transportation industry also widely uses polyurea coating for trains, buses, helicopters, and cars. An increase in construction activities globally is expected to boost the global polyurea coatings market during the forecast period.

Global Polyurea Coatings Market Breakdown – by Region

BASF SE; PPG Industries, Inc; Sika AG; Fosroc, Inc; The Sherwin – Williams Company; VIP Coatings International Gmbh; Nukote Coating Systems International; Huntsman International LLC; Rhino Linings Corporation; and Teknos Group are among the key players operating in the global polyurea coatings market. Players operating in the market focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as research and development investments, new product launches, and expanding production capacities.

Impact of COVID-19 Pandemic on Polyurea Coatings Market

The unprecedented rise in the number of COVID-19 cases across the world and the subsequent shutdown of numerous manufacturing facilities hampered the polyurea coatings market growth. The construction sector was severely affected due to project delays, laborer shortages, increased material costs, and supply chain delays that reduced the demand for polyurea coatings. However, the various end use markets are reviving due to significant measures, such as vaccination drives, taken by governments of various countries. The rising vaccination rate is boosting the construction industry’s overall growth. The growing government investments in construction are also expected to provide lucrative opportunities for the global polyurea coatings market growth over the coming years.  

The report includes the segmentation of the global polyurea coatings market as follows:

The global polyurea coatings market is segmented on the basis of raw material, type, technology, application, and geography. Based on raw material, the market is bifurcated into aliphatic polyurea and aromatic polyurea. Based on type, the global polyurea coatings market is bifurcated into pure polyurea and hybrid polyurea. Based on technology, the market is segmented into spraying, pouring, and hand mixing. Based on application, the global polyurea coatings market is segmented into building and construction, transportation, industrial application, and others. By geography, the global polyurea coatings market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America polyurea coatings market is further segmented into the US, Canada, and Mexico. The Europe polyurea coatings market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific polyurea coatings market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America polyurea coatings market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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