Polyurea Coatings Market Growth till 2028 by Global Industry Trends

Polyurea Coatings Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Raw Material (Aliphatic Polyurea and Aromatic Polyurea), Type (Pure Polyurea and Hybrid Polyurea), Technology (Spraying, Pouring, and Hand Mixing), and Application (Building and Construction, Transportation, Industrial Application, and Others)

Publication Month : Mar 2023

  • Report Code : TIPRE00005335
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 207
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The polyurea coatings market size is expected to grow from US$ 681.10 million in 2022 to US$ 1,173.44 million by 2028; it is estimated to record a CAGR of 9.5% from 2022 to 2028.

Polyurea is a waterproofing material that is often used in industrial and commercial settings to protect surfaces from water damage. It is applied as a liquid coating, which then quickly cures to form a durable, waterproof barrier. This can be used for waterproofing roofs, foundations, decks, and other surfaces.

In 2022, North America held the largest share of the global polyurea coatings market. The North America polyurea coatings market, by country, is segmented into US, Canada, and Mexico. The construction industry contributes a major part to the GDP of the region. The industry supports the growth of the economy by assisting the supply chain, which creates several business opportunities and services. The construction sector of the North America is a crucial industry as it significantly employs millions of people in the region. Rapid growth in construction activities in North America increases the demand for polyurea coatings.

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Polyurea Coatings Market: Strategic Insights

polyurea-coatings-market
Market Size Value inUS$ 681.10 million in 2022
Market Size Value byUS$ 1,173.44 million by 2028
Growth rateCAGR of 9.5% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Impact of COVID-19 Pandemic on Polyurea Coatings Market

Before the onset of COVID-19 pandemic, the polyurea coatings market was mainly driven by their increasing use in residential and nonresidential construction activities. However, the emergence of the pandemic hampered the growth of the chemicals & materials sector, thus hindering the growth of the polyurea coatings market. The implementation of measures to combat the spread of SARS-CoV-2 negatively impacted the growth of various industries. Builders experienced delays and increased costs for imported raw materials and off-site building materials due to the long-term shutdown of many factories. The damage caused by the impacts of the pandemic on the building & construction industry hampered the demand for polyurea coatings.

The global marketplace is recovering from the losses caused due to the COVID-19 pandemic, as governments of different countries have announced relaxation in the restrictions. Manufacturers are permitted to operate at full capacity, which helps them overcome the supply–demand gap. This is expected to create a positive impact on the polyurea coatings market growth in the coming years.

Global Polyurea Coatings Market Breakdown – by Region

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Market Insights

Rapid Growth of Construction and Infrastructure Sectors Drives Polyurea Market Growth

The demand for polyurea coatings has been increasing with the rise in construction activities. With the rising population and growing real estate industry, the need for polyurea coatings has also increased. Polyurea is a waterproofing material that is often used in industrial and commercial settings to protect surfaces from water damage. It is applied as a liquid coating, which then quickly cures to form a durable, waterproof barrier. This can be used for waterproofing roofs, foundations, decks, and other surfaces.

Rapid construction activities has increased the need for polyurea coatings of various materials and shapes. Increasing government expenditure and investment to improve domestic infrastructure and sustain economic growth and rising demand for these coatings in the construction industry, especially in developing countries, are a few major factors driving the polyurea coatings market growth.

Type-Based Insights

Based on type, the global polyurea coatings market is bifurcated into pure polyurea and hybrid polyurea. A pure polyurea coating is obtained from the reaction product of a polyisocyanate component and an amine-terminated resin blend. Pure polyurea is a combination of isocyanate and polyamine. This molecular structure is entirely insensitive to moisture. Pure polyurea does not react with water making it the best waterproofing material. Pure polyurea coating is a kind of urethane typically used for exterior or industrial applications such as outdoor furniture, signposts, and building facades. Compared to traditional systems such as epoxy paints, pure polyurea coating provides lower maintenance costs and higher durability.

Polyurea Coatings Market, by Raw Material – 2022 and 2028

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BASF SE; PPG Industries, Inc; Sika AG; Fosroc, Inc; The Sherwin – Williams Company; VIP Coatings International Gmbh; Nukote Coating Systems International; Huntsman International LLC; Rhino Linings Corporation; and Teknos Group are among the key players operating in the global polyurea coatings market. Players operating in the market focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as research and development investments, new product launches, and expanding production capacities.

Report Spotlights

  • Progressive industry trends in the polyurea coatings market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the polyurea coatings market from 2020 to 2028
  • Estimation of global demand for polyurea coatings
  • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook, as well as factors driving and restraining the growth of the polyurea coatings market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The polyurea coatings market size at various nodes
  • Detailed overview and segmentation of the market, as well as the polyurea coatings industry dynamics
  • The polyurea coatings market size in various regions with promising growth opportunities

Global Polyurea Coatings Market

Based on raw material, the market is bifurcated into aliphatic polyurea and aromatic polyurea. Based on type, the global polyurea coatings market is bifurcated into pure polyurea and hybrid polyurea. Based on technology, the market is segmented into spraying, pouring, and hand mixing. Based on application, the global polyurea coatings market is segmented into building and construction, transportation, industrial application, and others.

Company Profiles

  • BASF SE
  • PPG Industries, Inc
  • Sika AG
  • Fosroc, Inc
  • The Sherwin – Williams Company
  • VIP Coatings International Gmbh
  • Nukote Coating Systems International
  • Huntsman International LLC
  • Rhino Linings Corporation
  • Teknos Group
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Raw Material, Type, Technology, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Can you list some of the major players operating in the global polyurea coatings market?

The major players operating in the global polyurea coatings market are BASF SE; PPG Industries Inc; Sika AG; The Sherwin-Williams Co; Huntsman International LLC; amongst others.

What are the opportunities for polyurea coatings in the global market?

The advancement in infrastructure activities in the emerging economies, is expected to provide lucrative growth opportunities to the global polyurea coatings market during the forecast period.

Based on type, why does the hybrid polyurea segment have the largest revenue share?

Hybrid polyurea coatings are a type of coating that can be applied to concrete surfaces. They come with many benefits, like being resistant to abrasion, corrosion, and chemical attack. Therefore, this factor is expected to boost the hybrid polyurea segment, leading to largest revenue share.

What is the largest region of the global polyurea coatings market?

North America polyurea coatings market is expected to surge due to the growing product penetration in residential construction for flooring and roofing applications. Furthermore, the rising building and construction activities in the corporate and residential sectors are surging the demand for polyurea coatings in the region. Therefore, North America accounts for the largest share of the global polyurea coatings market.

Based on application, which is the fastest-growing segment in the polyurea coatings market?

Based on application, industrial application is the fastest-growing segment. In industrial sectors such as steel structures, concrete walls, or outdoor furniture, pure polyurea’s are often combined with other materials to create a hybrid coating that can be applied in roadway construction and bridge decks. Thus, wide range of applications is driving the segment’s growth.

What are the key drivers for the growth of the global polyurea coatings market?

The increase in building and construction activities, and the superiority of polyurea coatings over epoxy coatings are some of the key driving factors for the polyurea coatings market.

The List of Companies - Polyurea Coatings Market

  1. BASF SE    
  2. PPG Industries Inc               
  3. Sika AG    
  4. Fosroc Inc               
  5. The Sherwin-Williams Co                 
  6. VIP Coatings International GmbH & Co KG                
  7. Nukote Coating Systems International LLC                
  8. Huntsman International LLC            
  9. Rhino Linings Corp              
  10. Teknos Group Oy

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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