Global Polyurea Coatings Market Size 2024, Forecast To 2033
11 Mar, 2024
The polyurea coatings market has witnessed rapid growth, increasing from $1.27 billion in 2023 to $1.43 billion in 2024, showcasing a compound annual growth rate (CAGR) of 12.7%. This growth during the historic period is attributed to the expansion of emerging markets, growth in the oil and gas sector, environmental concerns, and the flourishing automotive industry. Looking ahead to 2028, the market is expected to experience rapid growth, reaching $2.26 billion with a CAGR of 12.2%. Factors influencing this growth include increasing building and construction activities, rising infrastructure investments, rapid urbanization, and government support. Notable trends in the forecast period encompass a focus on the use of modified polyurea technology, product innovations and next-generation coating solutions, new facility expansions to increase product portfolios, and strategic partnerships and collaborations to improve financial strength and geographical presence.
Global Polyurea Coatings Market Key Driver
The expanding construction industry is set to propel the polyurea coatings market. Used to protect exterior surfaces and buildings from corrosion and weathering, polyurea coatings find applications in the construction sector due to their resistance to chemical and abrasion attacks. As per Stats NZ Tatauranga Aotearoa, building activities in New Zealand increased by 3.7% in March 2021, with a 4.3% rise in residential activities in 2021 compared to 2020. The US Census Bureau reports a substantial growth rate of 10.2%, with the value of construction activities increasing from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. The market sizes for 2023, 2024, and 2028 are expected to align with the growth in the construction industry, driving the polyurea coatings market forward.
Get A Free Sample Of The Global Polyurea Coatings Market ReportGlobal Polyurea Coatings Market Segments
The polyurea coatings market covered in this report is segmented –
1) By Raw Material Type: Aliphatic, Aromatic
2) By Type: Pure, Hybrid
3) By Technology: Spraying, Pouring, Hand Mixing
4) By End-User: Building And Construction, Transportation, Industrial, Chemical, Other End-Users
By Geography:The regions covered in the polyurea coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the polyurea coatings market in 2023. The regions covered in the polyurea coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Polyurea Coatings Industry Players
PPG Industries Inc, Sherwin-Williams Company, Huntsman Corporation, BASF SE, Covestro AG,Kukdo Chemical Co. Ltd, Rust-Oleum, Teknos Group, Rhino Linings Corporation, VIP GmbH, Asia Polyurethane, DuPont de Nemours Inc, Versaflex Incorporated, Indurit Coatings, Sika AG, AkzoNobel N. V, Kansai Paint Co Ltd., Wattyl, RPM International Inc, Armorthane, Nukote Coatings Systems, Huisins Coatings, Poliuretany Sp. z o.o, Polyurea Polska, Jotun A/S, Nippon Paint Holdings Co, Ltd, DuluxGroup, Renner Coatings, Delta Coatings International, Polycare Insulation Works LLC, Oasis Adhesive Industries LLC, Tecnopol SA, VersaTech Coatings, SpecPolyurea, Abe Construction Chemicals
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Polyurea Coatings Market Overview
Polyurea is an organic polymer that resembles plastic or rubber and can be used in many applications. The polyurea coatings are waterproof, resistant, and instantly cured coatings. These are frequently used in commercial or outdoor applications like outdoor furniture, signposts, and building facades. Polyurea coatings are used for coating the substrate to prevent it from abrasion and corrosion damage.
Polyurea Coatings Global Market Report 2023 provides data on the global polyurea coatings market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The polyurea coatings market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.