Polyurea Coatings Market Size and Growth Rate:
According
to our research report, the Polyurea Coatings Market is estimated to grow from
USD $ 673. 1 Million In 2018 and it is projected to reach a value of USD $
1188. 3 Million, with a CAGR of 12.09% during the forecast period 2025.
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Polyurea Coatings market @
Polyurea Coatings market Overview:
The
polyurea coating is a one-step reaction between methyl-terminated diphenyl
isocyanate (MDI) or isocyanate and resin formulation ingredients such as
amine-terminated resin and hexamethylene diisocyanate (HDI). Polyurea coatings
are more advanced than conventional coatings (including epoxy, vinyl ester,
polyurethane and polychloroprene). All types of industries provide protective
coatings that require polyurea. Due to its high durability, the demand for
waterproof buildings is increasing in recent years, which affects the polyurea
coating market.
Some
advantages offered by polyurea coatings include concrete coating, waterproofing
application, pipeline coating, tank lining, truck bed liner, railcar coating,
floor joint or seam sealant, secondary containment, foam and EPS coating, among
others. Growth in construction and infrastructure activities is estimated to be
one of the most influential driving forces for growth in the worldwide polyurea
coating market. The increase in infrastructure spending, such as subway
construction, public transport enhancement emphasis, and urbanization, is
another driver of the global market.
Polyurea Coatings market Growth Drivers and Restraints:
In
addition, evaluation efforts for polyurea coatings for other applications are
estimated to fuel growth in the future. The Polyurea coating application
process involves high health risks and requires skilled labor. Health risks
associated with spray and toxicity from exposure to vapor and high-pressure
equipment of amine substrates are estimated to be a constraint to the growth of
the worldwide market. Strict regulations related to the use of polyurea
coatings are expected to affect market growth. In addition, market
opportunities will allow various local players and raw material suppliers to
enter the market, driving growth margins.
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Polyurea Coatings market Geographical Segmentation:
Currently,
North America and Europe have the largest market share due to the increased
environmental requirements of the manufacturing and construction industries.
Demand for the polyurea coating market is expected to increase because of the
active presence of extraction and production sites in Canada and Mexico. This
area is rich in minerals such as silver and gold. Asia Pacific is expected the
highest CAGR in the coming years. This growth is due to increased awareness of
industrial applications and protective coatings in automobiles. China and India
have a tremendous growth in the market when demand for construction and
waterproofing buildings grows. Southeast Asia has a positive impact on the
global market.
Key Market Players of the Polyurea Coatings market:
Key
industry players of polyurea coatings market include BASF; W.R. Grace; SWD
polyurethane; Nukote Coating Systems International; LINE-X protective coating;
PPG industry; Specialty Products Inc.;VersaFlex Inc. and Nukote Coating Systems
began production at a new manufacturing facility in Dammam, Saudi Arabia.
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