The Europe Polyurea Coatings Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 456.22 Hundred Tonnes, showcasing a growth of 5.4% (2019-2022).
Pure polyurea is a remarkable class of synthetic polymers known for their exceptional durability, versatility, and rapid curing properties. Comprising a two-component system – an isocyanate component and a resin blend – polyurea exhibits impressive resistance to abrasion, corrosion, and chemicals. What sets pure polyurea apart is its unique elastomeric nature, providing unparalleled flexibility and toughness, making it ideal for applications requiring high impact resistance. Therefore, Germany utilized 108.16 Hundred Tonnes of these coatings by 2022.
The Germany market dominated the Europe Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $98.5 Million by 2030. The UK market is exhibiting a CAGR of 6.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 8.1% during (2023 - 2030).
Marine environments, especially those with exposure to saltwater, can accelerate corrosion in metal structures. These coatings create a robust barrier that protects against corrosion, extending the lifespan of boats, docks, and offshore platforms. The constant movement of water and potential contact with debris can cause abrasion to boat hulls and marine structures. These coatings provide a durable, abrasion-resistant surface, reducing wear and tear. Boat hulls may encounter impacts from floating debris, rocks, or other obstacles. These coatings act as a protective layer, absorbing and dispersing impact energy to minimize damage.
In addition, these coatings excel as linings for industrial equipment and containers. The demand for these coatings can significantly increase worldwide with the rising industrial sector. As per the data provided by the State Council of China, in July 2023, annual growth was 3.7% for the total value added by industrial enterprises exceeding the designated size. The manufacturing value added of basic materials increased by 8.8 percent annually.
As per Eurostat, the gross value added of the construction sector in the EU was 5.5 % of GDP in 2020 and 2021. In 2021, the Member States with the largest proportions – all 7 % or more of total gross value added (GVA)– were Finland (7.7 %), Romania (7.3 %), Austria (7.2 %) and Lithuania (7.1 %). Thus, the increasing demand in Europe's construction sector is expected to drive the growth of the regional market.
Free Valuable Insights: The Global Polyurea Coatings Market will Hit USD 2 Billion by 2030, at a CAGR of 7.8%
Based on End User, the market is segmented into Building & Construction, Transportation, Industrial, and Others. Based on Polyurea Type, the market is segmented into Pure, and Hybrid. Based on Raw Material, the market is segmented into Aliphatic Isocyanate, and Aromatic Isocyanate. Based on Technology, the market is segmented into Spraying, Pouring, and Hand Mixing. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By End User (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Polyurea Type (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Raw Material (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Technology (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Country (Volume, Hundred Tonnes, USD Billion, 2019-2030)
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