Industry News

Polyurea Coating Market to Reach USD 971.5 Million by 2020: M&M

Published on 2015-11-12. Author : SpecialChem

The report “Polyurea Coating Market by Raw Material, Polyurea Type, Technology, Application (Building & Construction, Transportation, Industrial, & Landscape), and by Region, (North America, Europe, Asia-Pacific, & RoW) - Global Forecast to 2020”, report analyzes the polyurea coatings market with respect to market drivers, restraints, opportunities, and challenges in different regions.

Fig. 1: MarketsandMarkets

Polyurea is one of the significant developments in the coatings industry and is a growing technology in coatings market with unlimited number of applications in different industrial sectors. The key advantage of polyurea coatings which make them viable than other coating technologies are high abrasive resistance, excellent resistance against corrosion and chemical, insensitivity to moisture, fast curing time, and other physical & mechanical properties. It is also an eco-friendly and high performance product with no VOC content.

The drivers identified for the polyurea coating market are the expected replacement of polyurea coatings with other coating technologies and high growth in the end-use market building & construction, transportation, industrial, and landscape industries. Countries, such as U.S., China, and Germany are the key markets of polyurea coatings. The market in countries of the Middle East and Africa are also growing. In developed countries, such as U.S., Germany, Japan, and Italy the market is growing at a moderate rate compared to Asia-Pacific and RoW countries. The restraint for the market includes high cost of polyurea technology than polyurethane and epoxy coating technology. The opportunities for the polyurea coatings industry are emergence of new polyurea technology in the coating market and impending applications.

Asia-Pacific is the second-largest market for polyurea coating, both in terms of volume and value, followed by Europe and RoW. The key players in this market are Versaflex Inc. (U.S.), PPG Industries (U.S.), Sherwin-Williams Company (U.S.), Rhino Linings (U.S.), Kukdo Chemicals (Korea), Nukote Coating Systems (U.S.), Specialty Products, Inc. (U.S.), Wasser Corporation (U.S.), and VIP GmbH (Germany), among others.

The polyurea coating market size, in terms of value and volume, is estimated by considering the current and future projections according to the economic and industrial outlook. This analysis also covers important developments, expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.

The market size, in terms of value, of polyurea coating was estimated at USD 531.1 Million in 2015 and is projected to reach USD 971.5 Million by 2020, at a CAGR of 12.84% between 2015 and 2020.

About MarketsandMarkets

MarketsandMarkets annually publishes premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. It specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Its 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

Source: MarketsandMarkets

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