Polyurea is produced through a process called step-growth polymerization. The reaction of amine resins with a pre-polymer forms polyurea coating. Polyurea coating is durable, exhibits high resistance from corrosion and is flexible in nature. With different methods of formation, the properties and applications of polyurea coatings vary. Polyurea coatings find wide application in construction, infrastructure, manufacturing, automobiles, and marine industries. Polyurea coatings experience significant demand from the oil & gas and chemical industries, owing to the high hydrocarbon and gas resistance properties. Moreover, due to the zero VOC content of polyurea coatings, demand for traditional coatings such as polychloroprene, epoxy, and polyurethane has decreased substantially.
The global polyurea coatings market is expected to witness rapid growth in the forecast period. Rapid urbanization and industrialization are some of the key factors driving the demand for polyurea coatings. Furthermore, significant growth in end-use industries and specific properties such as resistance to chemical, abrasion, weathering, and high durability are further expected to augment the growth of global polyurea coatings market. However, high cost of polyurea coatings and requirement of expensive equipment for its application are the major restraints of the global polyurea coatings market.
Polyurea Coatings Market Taxonomy
On the basis of raw material, the global polyurea coatings market is classified as:
On the basis of product type, the global polyurea coatings market is classified as:
On the basis of application, the global polyurea coatings market is classified as:
On the basis of technique, the global polyurea coatings market is classified as:
Building and construction is the largest application segment of the global polyurea coatings market. High resistivity of polyurea coatings increases its scope of application in bridges, roofing, decks, membranes, and car parking areas, thereby augmenting its demand in the construction industry. Aromatic isocyanate polyurea dominates the global polyurea coatings market, owing to its low price. Hybrid polyurea coatings segment has a major share in the global polyurea coatings market due to its wide application in flooring, marine applications, and bed liners in trucks.
Polyurea Coatings Market Outlook
The major market players adopt both organic and inorganic growth strategies to gain a stronghold in the global market. For instance, RPM International Inc. acquired Arnette Polymers LLC,in January 2017. Some of the major players identified across the value chain of the global polyurea coatings market are Specialty Products Inc., VersaFlex, PPG Industries, Rhino Linings Corporation, VIP GmbH, Sherwin-Williams Company, PPG Industries, and Kukdo Chemicals.
Polyurea Coatings Market: Key Developments