According to a new report, published by KBV research, The Global Polyurea Coatings Market size is expected to reach $2 billion by 2030, rising at a market growth of 7.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,523.45 Hundred Tonnes experiencing a growth of 5.6% (2019-2022).
Polyurea coatings, a versatile and advanced class of protective coatings, have witnessed significant growth and adoption across diverse industries. These coatings have emerged as a preferred choice for various applications as they are known for their exceptional durability, rapid curing times, and unique physical properties. The adoption of these coatings has been robust in the industrial and commercial sectors. Manufacturing, automotive, and infrastructure industries have embraced these coatings for their protective qualities. The rapid curing nature of polyurea allows for quick turnaround times, minimizing downtime in industrial facilities.
The Building & Construction segment is generating the highest revenue in the Global Polyurea Coatings Market by End User in 2022; thereby, achieving a market value of $844.6 Million by 2030. Global growth in construction and infrastructure projects contributes to the demand for high-performance coatings like polyurea. Increasing urbanization and the need for modern, durable construction materials drive the use of advanced coatings in building projects. Therefore, owing to these factors, there will be increased demand in the segment.
The Pure segment is registering a CAGR of 7.1 % during the forecast period. Pure polyurea coatings refer to formulations where the entire coating system consists of polyurea. These coatings are known for their fast-curing times, excellent durability, and versatility in various applications. These coatings have the unique characteristics of pure polyurea formulations, such as rapid curing, seamless application, and exceptional resistance to abrasion and chemicals. Thus, the segment will grow rapidly in the upcoming years.
The Aliphatic Isocyanate segment led the Global Polyurea Coatings Market by Raw Material in 2022; thereby, achieving a market value of $1.4 Billion by 2030. The resistance of aliphatic isocyanates to ultraviolet radiation renders them appropriate for outdoor applications in which the preservation of color and luster is critical. In polyurea coatings, aliphatic isocyanate is often preferred for applications requiring high weather and UV resistance, such as exterior coatings on buildings, bridges, and outdoor structures. Therefore, these aspects can help in the expansion of the segment.
The Spraying segment is growing at a CAGR of 7.5 % during the forecast period. Spraying allows for quick and efficient application of polyurea coatings, making it well-suited for large surface areas and projects with tight timelines. Spray application ensures a seamless and even coating, which is important for achieving the desired protective and aesthetic properties. The spraying method is adaptable to different surfaces and complex shapes, providing versatility in application across various industries. Thus, these factors can assist in the growth of the segment.
Full Report: https://www.kbvresearch.com/polyurea-coatings-market/
The Asia Pacific region dominated the Global Polyurea Coatings Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $802.9 Million by 2030. The North America region is anticipated to grow at a CAGR of 7.1% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 7.3% during (2023 - 2030).
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 Geography (Volume, Hundred Tonnes, USD Billion, 2019-2030)
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