Polyurea Coatings Market Growth till 2028 by Global Industry Trends

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

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  CAGR (2022 - 2028)

  9.5%
• Market Size 2022
  US$ 681.10 Million
• Market Size 2028
  US$ 1,173.44 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• BASF SE
• PPG Industries Inc
• Sika AG
• Fosroc Inc
• The Sherwin Williams Co
• VIP Coatings International GmbH Co KG
• Nukote Coating Systems International LLC
• Huntsman International LLC
• Rhino Linings Corp

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Raw Material

• Aliphatic Polyurea and Aromatic Polyurea

Type

• Pure Polyurea and Hybrid Polyurea

Technology

• Spraying
• Pouring
• Hand Mixing

Application

• Building and Construction
• Transportation
• Industrial Application

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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.

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.

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

Polyurea Coatings Market Report Scope

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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