Sales of Spray Polyurea Elastomers to Decline, on Back of Supply Chain Disruptions amid nCoV-19 Pandemic Outbreak

Polyurea is a newly used adhesive and sealant material, which has gained significant demand in the market for protective coatings. Polyurea finds application in areas and equipment that need to exhibit high tensile strength, high abrasion resistance, greater temperature limit, high permeability and impact resistance. It has the property to overcome these problems and provide increased life span for the equipment likely to be affected.

However, outbreak of nCoV-19 pandemic is adversely impacting the market for spray polyurea elastomers as a result of disrupted supply chain and ceased production activity. Furthermore, impact of soaring infections on vitality of the market is intensifying, resulting in a sharp fall in construction activities across the globe. The effect of this pandemic is expected to last for a minimum of three quarters of this year. The market is anticipated to make quick recovery in near term and is poised to grow at an impressive CAGR of 10.6% over the forecast period (2020-2030). By product, pure polyuria is projected to witness prolific growth over the forecast period. On the other hand, hybrid polyuria will capture a large chunk of market share through 2030.

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Spray Polyurea Elastomers Market to Exhibit Surge in Demand for Aromatic Isocyanate based Products

Aromatic spray polyurea elastomers provide high variety, are cost competitive and do not support UV rays. Sloped roofs, terraces, balconies and overhangs, tanks and irrigation canals, coatings for bridges, swimming pools, aquariums and lakes, vehicles and boat coatings, etc. are common end-use application areas for aromatic spray polyurea elastomers. With ascending demand for aromatic isocyanate based spray, polyurea elastomers are expected to create an absolute $ opportunity of US$ 3.5 Bn by 2030. In contrast, aliphatic isocyanate based spray polyurea elastomers finds limited usage. Aliphatic spray polyurea elastomer technology possess many VOC problems, resulting in a declining market share.

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APEJ to Account for more than One-Third of Total Market Share by 2030

APEJ is a rapidly growing market. This is attributed to various progressive economic trends, which are expected to drive future growth. Rapid increase in population and development of infrastructure industry provide larger scope for this market. Strategies to expand in this region by several growing industries is driving the market growth in this region. In a very short span of time, the spray polyurea elastomers market has witnessed intense competition, particularly in developed markets. This clearly indicates product preference among end users and rapid penetration. Furthermore, Latin America is expected to grow impressively. MEA, being a key exporter for oil and gas, provides increased use for primary and secondary containment across globe. Governments aiming to improve infrastructure and provision of increased durability for building and construction provides a positive role in driving the growth for spray polyurea elastomers.

Collaboration to Remain Key Players’ Strategy to Gain Access over Global and Regional Market

The global spray polyurea elastomers market is fragmented, dominated by various regional and global players. Companies, like Versaflex, invest in R&D to produce more efficient and economical Polyurea Elastomers, uplifting market growth. Furthermore, key players are collaborating with end-user industries to strengthen their supply chain and ensure availability of their product across globe. For instance, VersaFlex Incorporated announced that it has signed a co-labelling agreement with Renner Coatings for the Brazilian and Chilean markets. Effective immediately, Renner Coatings will have access to the full line of VersaFlex’s pure polyurea coatings, linings, sealants, and repair materials under the name RenFlex gaining market opportunities for Latin America.

“Targeted organic and inorganic strategies undertaken by the top players in market is projected to add value till 2030. Dedicated product launches towards protective coating and waterproofing applications along with partnerships have been the highlights of increased market penetration historically”, says the Fact.MR analyst.

About the Report

Fact.MR published an exclusive forecast report for spray polyurea elastomers market between 2020 and 2030. The foremost objective of this report on spray polyurea elastomers market is to pitch spearhead insights on market scenario, demand generators and technological advancements in the spray polyurea elastomers market. Also, the study on spray polyurea elastomers market addresses key dynamics, which are expected to diversify the sales and future prominence of spray polyurea elastomers market.

The report on spray polyurea elastomers market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of spray polyurea elastomers market elaborating on the key segments. Also, the report outlines visionary insights on dynamics spray polyurea elastomers market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for spray polyurea elastomers. Supply chain analysis and pricing analysis of spray polyurea elastomers market along with the difference between spray polyurea elastomers used as per applications have also been included in the report to help the readers clearly understand the product framework map in spray polyurea elastomers market.