The global Polyurea Coatings Market involves technologies that provide ultra-fast dry polyurethanes and polyureas coatings for a wide range of applications. Polyurea coatings provide outstanding corrosion resistance, high abrasion resistance, seamless flexible lining, moisture triggered chemical resistance and adhesion to almost any type of substrate.
The global Polyurea Coatings Market is estimated to be valued at US$ 1.32 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rapidly increasing infrastructural development activities across both developed and developing nations over the recent past have driven considerable growth of the construction industry. Polyurea coatings find widespread application in protecting concrete, steel and other building materials from corrosion and wear & tear. Their excellent adhesion properties along with resistance to UV light degradation make them suitable for use in bridges, pipelines, parking decks and other infrastructural projects. The global infrastructure segment is expected to witness significant investments over the coming years to support economic growth. This is anticipated to propel the demand for polyurea coatings at a rapid pace during the forecast period.
SWOT Analysis
Strength: Global Polyurea Coatings Market Size are highly resistant to chemicals, abrasion and corrosion and form a monolithic barrier to protect surfaces from environmental degradation. They require no drying time and can be applied at subzero temperatures.
Weakness: Polyurea coatings have high raw material costs compared to conventional protective coatings like epoxy and polyurethane. Exposure to ultra-violet rays can cause fading of colored polyurea coatings over time.
Opportunity: Growing construction industry in Asia Pacific and infrastructure revamp in North America and Europe are driving the demand for polyurea coatings in industrial, commercial and civil applications. Development of bio-based raw materials can help reduce dependency on petroleum-derived chemicals.
Threats: Stringent environmental regulations around VOC emissions during coating application can restrain market growth. Substitute products like polyaspartic coatings pose competition.
Key Takeaways
The global polyurea coatings market is expected to witness high growth over the forecast period of 2023 to 2030. The global Polyurea Coatings Market is estimated to be valued at US$ 1.32 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
Regional analysis: Asia Pacific dominates the global polyurea coatings market and is expected to retain its leading position till 2030 supported by huge infrastructure investments and rapid urbanization in major economies like China and India. Countries like the US, Germany, UK are also prominent markets driven by infrastructure modernization programs.
Key players: Key players operating in the polyurea coatings market are GloboForce Ltd, BI Worldwide, SalesForce.Com, Jive Software, Inc., Aurea, Reffind Ltd, Recognize Services, Inc., Kudos, Inc., Vmware, Inc., Achievers Solutions Inc., serving diverse industrial sectors with innovative coating solutions and technologies. They are investing in R&D to develop more sustainable and cost-effective products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it