Polyurea Coatings Market Growth Accelerated by Prominent End-Use Industry Adoption

 


Polyurea coatings are advanced protective linings noted for high elongation, high strength, and abrasion & chemical resistance properties. They are widely used in various end-use industries such as building & construction, transportation, industrial, and others to protect infrastructural assets from weathering and corrosive environments. The global polyurea coatings market is estimated to be valued at US$ 1.5 Billion in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023-2030.

Market key trends:
The significant growth in infrastructure development projects across emerging economies has emerged as a key contributor toward the rising demand for polyurea coatings in recent years. Polyurea coatings are increasingly adopted in civil construction applications such as bridge deck waterproofing, tank lining, containment linings, and secondary containments due to their long-lasting corrosion protection. Spray application of polyurea allows rapid installation and creates a monolithic membrane that fully encapsulates substrates, thus driving their increasing preference over conventional coating materials in the infrastructure industry. Furthermore, polyurea coatings manufacturers are focusing on developing innovative and sustainable product formulations to expand their application scope and gain market share.

Segment Analysis
Polyurea coatings market is fragmented with industrial infrastructure, transportation, and roof systems segments. Industrial infrastructure segment accounts for largest market share as polyurea coatings offer excellent thermal insulation and chemical resistance to concrete, masonry and steel substrates used in oil & gas, chemical processing, mining and infrastructure industries. Transportation segment is expected to witness highest growth rate during forecast period owing to increasing usage of polyurea in truck bedliners, bridge expansion joints and automotive parts as it bonds strongly to various surfaces and protects them from corrosion.

Key Takeaways
The Global Polyurea Coatings Market Size is expected to witness high growth during 2023-2030.

Regional analysis: Asia Pacific dominates the market currently and is expected to maintain its dominance during forecast period. Rapid industrialization and infrastructure development projects in China, India and other ASEAN countries is driving the demand for polyurea coatings in this region.

Key players operating in the Polyurea Coatings market are RPM International Inc., VersaFlex Incorporated, Armorthane, Sherwin-Williams Company, Krypton Chemical LLC, PPG Industries, Wasser Corporation, Huntsman Corporation, Rhino Linings Corporation, and SPI. Rhino Linings Corporation leads the market with its innovative spray application systems and wide product portfolio for transportation and industrial segments.

For More Insights, Read: https://www.newswirestats.com/polyurea-coatings-market-size-share-and-growth-forecast-2023-2030/

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