Polyurea Coating Market Hits $1.48 Billion By 2024: Grand View Research, Inc.
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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Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/polyurea-coatings-market
Further
key findings from the study 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.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
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
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-polyurea-coating-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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