The global polyurea coatings market is segmented into raw material such as aromatic isocyanate based polyurea coating and aliphatic isocyanate based polyurea coating. Among these segments, aromatic isocyanate based polyurea coating segment accounted for the dominating segment in overall polyurea coatings market. Likely, increasing adoption of polyurea coatings by various industries such as oil and gas, automotive and others is propelling the market of polyurea coatings across the globe. In addition to that, growing adoption of environmental friendly products is also predicted to foster the growth of polyurea coatings market.
The building & construction segment by application seized the biggest market of overall polyurea coatings. The growth of building & construction segment is attributed to the growing population coupled with increasing number of construction activities all over the globe. In terms of regional platform, North America and Europe region are the notable regional markets of polyurea coatings. With 36% share, North America region captured the largest market of polyurea coatings in 2016. Moreover, rising reconstruction activity and strict environmental rules and regulations in this region is pushing the demand for polyurea coatings. Apart from this, Asia-Pacific region is believed to be the most lucrative market of polyurea coatings owing to emerging economies such as India and China.
Global polyurea coatings market is anticipated to mask a noteworthy CAGR of 12.7% during the forecast period i.e. 2017-2024. Moreover, the global polyurea coatings market is projected to account revenue of USD 1.3 Billion by the end of 2024. Additionally, the market is riding on the back of spiked growth in construction and oil & gas industry.
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Swift Growth in Real Estate Sector
Rapid boom in the real state sector in developing and developed nation such as China, U.S. and others is believed to augment the demand for polyurea coatings. Furthermore, heavy spending in infrastructure sector in developing regions along with growing consumer awareness regarding the benefits of polyurea coatings is also projected to foster the growth of polyurea coatings market.
Wide Scale Applications
Rising number of application of polyurea coatings in various industries such as aerospace, automotive, infrastructure and oil & gas industries is anticipated to impel the growth of polyurea coatings market by the end of 2024. Moreover, various properties of polyurea coatings such as high strength, long life and waterproof features and polyurea coatings are available with anti-microbial agents are attracting the consumers which are believed to flourish the growth of polyurea coatings market.
The report titled “Polyurea coatings Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global polyurea coatings market in terms of market segmentation by raw material, by type, by application and by region.
On the contrary, high cost associated with polyurea sprayer and equipment is expected to dampen the growth of polyurea coatings market throughout the globe.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global polyurea coatings market which includes company profiling of BASF SE, The Sherwin-Williams Company, Nukote Coating Systems, PPG Industries, Inc., Specialty Products Inc. (SPI), Armorthane Inc., Wasser Corporation, Kukdo Chemical Co., Ltd, Huntsman Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global polyurea coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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