Published Date: Jul 2020 | Report ID: GMI163 | Authors: Kunal Ahuja, Sonal Singh



Report Format: PDF | Pages: 200 | Base Year: 2019

Industry Trends

Polyurea market size exceeded over USD 1 Billion, in 2019 and is estimated to grow at over 6% CAGR between 2020 and 2026. Stringent government regulations aimed at reducing the emission of volatile compounds in construction industry are motivating end-users to procure polyurea linings, which in turn estimated to boost the growth of global market.



Polyurea products are used as sealants, coats and lining solutions in order to ensure high thermal stability, pigment combability, fast curing time, and high-water insensitivity. This product finds such common applications in transportation, building construction, and other industrial domains.





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This product is widely procured by end-users as they are eco-friendly and complaint with the norms stipulated by authorities monitoring the environmental effects of Volatile Organic Compounds (VOCs). For instance, the European Union Ecolabelling Board (EUEB) identifies and lists the hazardous classifications and characteristics of preparations, compounds and substances that cannot be used by automotive and construction end-users as stipulated by the Ecolabel Regulation.



Rising urbanization has led to an increased application scope in the transportation and construction industries. The polyurea solutions are often used in construction and automotive industries to repair tunnels and bridges, construct highways and roads, and as vehicle coatings. The rapidly increasing infrastructural spending and emphasis on improvement of public transport, construction of subways, and urbanization are facilitating favourable conditions for the polyurea market growth.



The coronavirus pandemic has led to an imposition on travel ban and shutdown of manufacturing units, offices & marketplaces by governments all over the world, which have led to value chain disruptions throughout the globe. This has adversely affected raw materials supply for producing polyurea. This pandemic has led to global lockdown of constructions, manufacturing plants and transportation which may decrease polyurea utilization.



Polyurea Market Report Coverage Report Coverage Details Base Year: 2019 Market Size in 2019: 1.31 Billion (USD) Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026 Forecast Period 2020 to 2026 CAGR: 6.1% 2026 Value Projection: 1.98 Billion (USD) Pages: 200 Tables, Charts & Figures: 232 Geographies covered (20): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Thailand, Malaysia, Brazil, Mexico, Saudi Arabia, UAE, South Africa Segments covered: Raw material, Product, Application, Region Companies covered (10): BASF, Bayer AG, Huntsman Corporation, Specialty Products Inc., VersaFlex Inc., Nukote Coating Systems International, SWD Urethane, Albert Spray Solutions, W.R. Grace & Co., PPG Growth Drivers: North America: Booming Construction industry should accelerate regional market growth

Europe: Rising regional manufacturing sector should promote market growth

Asia Pacific: Supportive government initiatives for transportation related infrastructure developments should propel regional product demand Pitfalls & Challenges: Expensive as compared to other alternative coatings

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Polyurea as an alternative to incompatible raw materials in industrial application

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Industrial application is expected to reach over USD 600 million by 2026. Polyurea solutions find common applications in industrial end-uses like safety-pool coating and industrial bridging. This factor is projected to support market growth during the forecast period. The polyurea coating and sealing solutions have turned out to be lucrative alternatives to incompatible materials like lead. Polyurea has unique characteristics such as high tensile strength and elongation property, which makes it preferable for crack sealing applications. Moreover, it also has low setting and curing duration, which makes the product suitable for line stripping and pavement marking, fuelling the polyurea market demand across the globe.



Environmental sustainability, water resistance, and flexibility are the key performance metrics for polyurea. Thus, it is very commonly preferred by landscape architects for reinforcement applications in geotextile industry. Hence, it increases shelf life and lowers maintenance cost. Additionally, it is also used in arts and entertainment industry to ensure provision of stable surfaces for art objects, artificial landscape and stage props on the sets.



Unique elastomeric properties surge the market demand for aromatic polyurea

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Among all the polyurea raw materials, the aromatic polyurea segment is estimated to reach over USD 1 billion by 2026. Aromatic polyurea is witnessing a wider adoption for paint and coating applications as it is relatively fast curing and insensitive to moisture. Additionally, it is cost effective, abrasion resistant, and has excellent adhesive properties towards concrete and metal structures, driving the polyurea market sales from building & construction applications.



Growing demand in Europe has stimulated polyurea market growth

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Europe is expected to reach over USD 500 million by 2026. Rising emphasis on environmental protection in construction and manufacturing industries is projected to boost demand. Increasing construction spending in Europe is driving the polyurea market growth. European authorities have sanctioned the use of polyurea roofing membranes for waterproofing applicatons owing to their flexibility, resistive and ecological propoerties.



Other key properties include longer shelf life and enhanced elongation, which is approximately 50 times of epoxy. This imparts pure polyurea with excellent crack resistive properties that make it attractive for infrastructural end-uses. Pure polyurea also plays a major role in preventing growth of microbes in wall cavities which in turn facilitates easy maintenance. This characteristic makes it suitable for use as single surface coating between the walls and floors.



New product launches and R&D initiatives to be key business strategies incorporated by manufacturers

Polyurea market is a fragmented market, owing to the presence of large number of small and medium-sized companies operating in the market. Some of the key manufacturers operating in the global market are BAYER AG, Specialty Products Inc., VersaFlex Inc, Nukote Coating Systems and International, BASF, SWD Urethane, Huntsman Corporation, Alberts Spray Solutions, W.R. Grace & Co. and PPG .



The key players in the polyurea industry are engaged in offering new products and are entering into partnerships, mergers and acquisition activities, in order to strengthen their market position For Instance, In November 2018, Speciality Products Incorporation launched its latest product named AQUASEAL Hi Rise X3 AP. During spray application process this product enlarge 300% approx. of its original volume.



Apart from this when it put on the porous surfaces including concrete masonry (CMU), wood or vertically poured concrete it virtually eliminates blowholes and pinholes and bridges substrate imperfections.



Other market participants are showing keen interest in the market, owing to numerous applications and end-uses in construction, transportation, automotive and other industrial domains.



Polyurea market report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2015 to 2026 , for the following segments:

By Raw Materials

Aromatic Polyurea

Aliphatic Polyurea

By Product

Coating

Lining

Sealants

By Application

Construction

Industrial

Transportations

Others

The above information has been provided for the following Regions :

By Region

North America U.S. Canada

Europe Germany UK France Italy Spain Russia

APAC China Japan India South Korea Australia Malaysia

Latin America Brazil Mexico

MEA Saudi Arabia South Africa UAE



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