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Polyurea Coatings Market Report by Type (Pure Polyurea, Hybrid Polyurea), Technology (Spraying, Pouring, Hand Mixing), Raw Material (Aromatic Isocyanate-based, Aliphatic Isocyanate-based), End Use Industry (Building and Construction, Transportation, Industrial, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6533
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Polyurea Coatings Market Size:
The global polyurea coatings market size reached USD 1.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 2.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.98% during 2024-2032. The market is expanding substantially mainly due to the heightening demand in automotive and infrastructure industries. Its exceptional durability and fast curing abilities make it an ideal coating solution. At present, Asia Pacific holds the largest market share, primarily driven by amplifying construction activities and industrialization.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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USD 1.2 Billion |
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Market Forecast in 2032
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USD 2.3 Billion |
| Market Growth Rate 2024-2032 | 6.98% |
Polyurea coating is a protective coating that is made from a combination of resin and liquid polyurethane. This coating is highly durable, resistant to chemicals, heat and water, non-toxic in nature and therefore environmentally friendly. Along with protecting wooden, concrete and steel structures from abrasions and corrosion, it can help preserve a deteriorating concrete structure, repair canals, and keep them intact. An aluminized polyurea coating protects against corrosion and abrasion on pipes that carry corrosive and abrasive materials. In order to prevent cathodic breakdown, it is used as a base coat in pumps as it reduces cavitation and erosion while also increasing pump performance. Due to its beneficial properties, including quick cure and shortening of maintenance cycles, it is swiftly replacing paint and fiberglass coatings across numerous applications, especially in the construction of water parks, aquariums, pools, theme parks, bathtubs, reservoirs, facades, and cabins.
Polyurea Coatings Market Trends:
Rising Product Demand in Infrastructure Development
The global polyurea coatings market is currently witnessing substantial growth predominantly due to the accelerating demand for durable protective coatings in infrastructure ventures. Polyurea coatings are extensively leveraged for its exceptional protection against abrasion, waterproofing, and high corrosion resistance in pipelines, bridges, and tunnels. Moreover, magnifying urbanization and elevating investments in public infrastructure, particularly in developing regions, are significantly driving the demand. As per industry reports, in 2023, 56.6% of the total world population dwelled in urban regions. Furthermore, by the year 2050, more than two-thirds of the global population is estimated to live in urban areas. In addition, the excellent functionality and fast curing time of polyurea coatings position them as an ideal solution for comprehensive construction projects, where durability and efficacy are crucial. The ability of polyurea to endure strong chemical exposure and extreme environmental conditions further improves its appeal in infrastructure applications.
Increasing Adoption in Industrial and Automotive Industries
The polyurea coatings market analysis indicates that the industrial and automotive industries are major drivers of the global market, pertaining to the material's superior durability, excellent resistance against chemicals, and fast curing attributes. Polyurea is rapidly being leveraged for protective coatings on industrial machinery, vehicle parts, and various other equipment. Moreover, the material's capability to offer prolonged protection against abrasion, impact, and resistance against corrosion establishes it as an appealing option for producers actively seeking to expand the lifespan of their products. In addition, the elevation in requirement for electric vehicles (EVs) as well as industrial automation is bolstering the utilization of advanced coatings in these industries, as they demand materials that can provide both lightweight and strength benefits, further supporting the expansion of polyurea coatings market scope. According to the U.S. Bureau of Labor Statistics, EVs sales is expected to exceed 50% of total passenger car sales by 2030.
Growing Emphasis on Environmental Sustainability
The global polyurea coatings market is experiencing significant expansion majorly due to the magnifying focus on environmentally sustainable products. VOCs (volatile organic compounds), generated by numerous coating solutions, adversely affect air quality and contribute to environmental pollution. According to a research article published in the journal Atmosphere, in March 2023, a study revealed that the aromatics emitted from the water-based coatings contributes to the 85.9% of ozone formation potential and 52.9% of VOCs emissions. Consequently, polyurea coatings are increasingly being produced with reduced VOC content, aligning with stringent environmental policies and heightening customer awareness regarding environmentally friendly products. Moreover, key sectors, such as marine, construction, and automotive, are rapidly adopting greener solutions to cater to the sustainability targets, and polyurea coatings, which effectively provide long-term resilience and lower environmental impact, are notably gaining momentum. This trend is majorly prominent in developed regions where regulatory protocols regarding sustainable methods and emissions are stricter, further fueling the requirement for environmentally safe polyurea coatings. In addition, the polyurea coatings market research indicates that this notable inclination towards sustainable solutions will continue bolstering the global market growth in coming years.
Polyurea Coatings Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, technology, raw material and end use industry.
Breakup by Type:
- Pure Polyurea
- Hybrid Polyurea
Breakup by Technology:
- Spraying
- Pouring
- Hand Mixing
Breakup by Raw Material:
- Aromatic Isocyanate-based
- Aliphatic Isocyanate-based
Breakup by End Use Industry:
- Building and Construction
- Transportation
- Industrial
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global polyurea coatings market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
- Albemarle Corporation
- ArmorThane USA Inc.
- BASF SE
- Covestro AG
- Huntsman Corporation
- PPG Industries Inc.
- Rhino Linings Corporation
- Specialty Products Inc.
- Teknos Group Oy
- The Sherwin-Williams Company
- VIP Coatings Intl Gmbh & Co. KG
- Wasser Coatings
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Polyurea Coatings Market News:
- In September 2024, Delta Coatings International, a leading polyurea coatings company, announced a tactical expansion of its coating business into Vietnam and broader Southeast Asian region.
- In October 2023, Everest Systems launched EverMax Polyurea, its new polyurea coating with exceptional flexibility and durability for commercial roofing purposes, which, in turn, is anticipated to enhance polyurea coatings market share.
Polyurea Coatings Market Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Billion USD |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Types Covered | Pure Polyurea, Hybrid Polyurea |
| Technologies Covered | Spraying, Pouring, Hand Mixing |
| Raw Materials Covered | Aromatic Isocyanate-Based, Aliphatic Isocyanate-Based |
| End Use Industries Covered | Building and Construction, Transportation, Industrial, Others |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Albemarle Corporation, ArmorThane USA Inc., BASF SE, Covestro AG, Huntsman Corporation, PPG Industries Inc., Rhino Linings Corporation, Specialty Products Inc., Teknos Group Oy, The Sherwin-Williams Company, VIP Coatings Intl Gmbh & Co. KG, Wasser Coatings, etc. |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the polyurea coatings market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the global polyurea coatings market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the polyurea coatings industry and its attractiveness.
- The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.
The global polyurea coatings market was valued at USD 1.2 Billion in 2023.
We expect the global polyurea coatings market to exhibit a CAGR of 6.98% during 2024-2032.
The rising demand for polyurea coatings across various applications, such as construction of water parks, aquariums, pools, theme parks, etc., as they offer quick cure and shortening of maintenance cycles over paint and fiberglass coatings, is primarily driving the global polyurea coatings market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for polyurea coatings.
Based on the type, the global polyurea coatings market has been segmented into pure polyurea and hybrid polyurea. Currently, hybrid polyurea holds the majority of the total market share.
Based on the technology, the global polyurea coatings market can be divided into spraying, pouring, and hand mixing. Among these, spraying currently exhibits a clear dominance in the market.
Based on the raw material, the global polyurea coatings market has been categorized into aromatic isocyanate-based and aliphatic isocyanate-based, where aromatic isocyanate-based accounts for the majority of the global market share.
Based on the end use industry, the global polyurea coatings market can be segregated into building and construction, transportation, industrial, and others. Currently, building and construction holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global polyurea coatings market include Albemarle Corporation, ArmorThane USA Inc., BASF SE, Covestro AG, Huntsman Corporation, PPG Industries Inc., Rhino Linings Corporation, Specialty Products Inc., Teknos Group Oy, The Sherwin-Williams Company, VIP Coatings Intl Gmbh & Co. KG, and Wasser Coatings.
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