Global polyurea coating market is expected to reach USD 1.48 billion by 2024, according to a new report by Grand View Research, Inc. Polyurea coating have numerous advantages over conventional coating products, namely, epoxy, fiberglass, and paints. Its properties such as faster setting time, resistance to atmospheric conditions, and high mechanical strength are expected to drive the demand over the next eight years. Polyurea coating offer high standards of corrosion protection, waterproofing, and chemical & structural enhancement. Moreover, these exhibit superior characteristics in spray applications such as improved mechanical, thermal, and chemical resistance, short curing and setting time and high durability as compared to its substitutes.
Increased resistance to crack allows it to be utilized in a host of applications. Rising demand for coating in automotive, buildings & construction, marine, oil & gas, metallurgy & metal forming, aerospace, and mining is expected to propel growth over the forecast period. Extensive R&D is being undertaken by manufacturers to develop innovative technologies for coating manufacturing and development of superior quality products.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/polyurea-coating-market
Further key findings from the report suggest:
·
Polyurea coating use in industrial application
is expected to witness growth at a CAGR of over 12.0% from 2016 to 2024 on
account of rising manufacturing sectors in emerging economies. Numerous
companies have been expanding production capacities in order to tap potential
markets which are expected to propel demand. Increasing demand for protective
coating from the oil & gas and mining sectors is projected to have a
positive impact on market growth over the next eight years.
·
Aromatic isocyanate-based coating are expected
to grow at a CAGR of over 10% from 2016 to 2024 on account of properties such
as excellent UV resistance leading to increasing application scope in the
automotive industry. However, the increased price of these products is expected
to hinder growth over the forecast period.
·
North America dominated the market in 2015 on
account of the presence of a substantial number of market players in the
region. The U.S. market for polyurea coating was valued at over USD 150 million
in 2015. Supportive regulations and rising investments in Asia Pacific
automotive industry is expected to accelerate growth.
·
In March 2014, Bayer Material Science opened a
coating, Adhesives, and Specialties Laboratory in Dubai, to enhance its
services by providing customized technical support to the customers in the
Middle East & Africa. In February 2012, Alberts Spray Solutions LLC
opened a new manufacturing site for polyurea liners in Ohio to cater to the
demand from Utica Shale Region of Eastern Ohio and Southwest Pennsylvania. New
product development, R&D investments, and expansion strategies are being
adopted by the market players to expand their global footprint.
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Grand View Research has segmented the global polyurea market on the basis of raw material, product, technology, application and region:
Global Polyurea coating Raw Material Outlook (Volume, Thousand Liters; Revenue, USD Million, 2013 - 2024)
·
Aromatic Isocyanate-Based
·
Aliphatic Isocyanate-Based
Global Polyurea coating Product Outlook (Volume, Thousand Liters;
Revenue, USD Million, 2013 - 2024)
·
Pure Polyurea
·
Hybrid Polyurea
Global Polyurea coating Technology Outlook (Volume, Thousand Liters;
Revenue, USD Million, 2013 - 2024)
·
Spraying
·
Pouring
·
Hand Mixing
Global Polyurea coating Application Outlook (Volume, Thousand
Liters; Revenue, USD Million, 2013 - 2024)
·
Building & Construction
·
Transportation
·
Industrial
·
Others
Global Polyurea coating Regional Outlook (Volume, Thousand Liters;
Revenue, USD Million, 2013 - 2024)
·
North America
·
U.S.
·
Europe
·
Germany
·
Asia Pacific
·
China
·
India
·
Latin America
·
Brazil
·
Middle East & Africa
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
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