August 10,2022/IndustryNewsGlobal/ — The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Polyurea Coatings Market.
Polyurea Coatings market is likely to witness an impressive CAGR of 10.8% during the forecast period. The major driving factor contributing to the demand for polyurea coatings is the increasing requirement for improving performance, durability, and ease-of-use of products.
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By Raw Material Type
Based on the raw material type, the market is segmented as aromatic isocyanate and aliphatic isocyanate. The aromatic isocyanate segment is expected to govern the market owing to its unique physical properties such as high-performance features along with abrasion and corrosion resistance for coating applications in the marine, construction, and other industries and in industrial applications.
By Polyurea Type
Based on the polyurea type, the polyurea coatings market is segmented as pure polyurea and hybrid polyurea. The pure polyurea segment is expected to dominate the market due to its vital role in the determination of the final coated surface properties. It is also driven by its excellent properties such as its zero VOC content, fast curing time, long pot life, outstanding chemical resistance, and moisture resistance.
By Technology Type
Based on the technology type, the polyurea coatings market is segmented as spraying, pouring, and hand-mixing. The spraying technology is expected to remain the dominant segment. It is driven by its easy, quick, and accurate application on the surface, infrastructural growth in countries, along with increase in applications in floor coatings, roof coatings, bed-linings, secondary containment, and wastewater treatments.
In terms of regions, Asia-Pacific is estimated to be the largest region for the polyurea coatings market during the forecast period. The growth of the region is mainly driven by its high economic growth and substantial investment in industries, such as automotive, marine, building & construction, and manufacturing. The region is also experiencing an increased demand for premium and high-quality products due to the increasing disposable income of the middle-class population, causing a surge in demand for the polyurea coatings market.
Some of the major polyurea coating manufacturers are-
- PPG Industries, Inc.
- The Sherwin-Williams Company
- Nukote Coating Systems
- Versaflex Incorporated
- Armorthane Inc.
- Wasser Corporation
- Rhino Linings Corporation
- Kukdo Chemical Co., Ltd.
- Voelkel Industrial Products Gmbh (VIP)
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