The polyurea coatings market is projected to grow from $684.3 Million in 2017 to $1,266.5 Million by 2022, at a CAGR of 13.10% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
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The polyurea coatings market has a diversified and established ecosystem of upstream players such as raw material suppliers and downstream stakeholders such as manufacturers, vendors, end users, and government organizations.
Key players operational in the market include
- VersaFlex Inc. (U.S.),
- PPG Industries, Inc. (U.S.),
- Sherwin-Williams Company (U.S.),
- Rhino Linings Corporation (U.S.),
- Kukdo Chemical Co., Ltd. (South Korea),
- Nukote Coating Systems (U.S.),
- VIP GmbH (Germany),
- Specialty Products, Inc. (U.S.),
Key Target Audience:
- Manufacturers of Polyurea Coatings
- Raw Material Suppliers
- Traders, Distributors, and Suppliers of Polyurea Coatings
- Government & Regional Agencies and Research Organizations
- Investment Research Firms
The polyurea coatings market in the Asia-Pacific region is expected to witness significant growth, owing to increase in infrastructural activities and rise in initiatives undertaken by research institutions to drive R&D investments for the technological development of polyurea coatings. These institutions are focused on improving the performance, efficiency, and durability of polyurea coatings, thereby enhancing their applicability across varied end-use industries.
The break-up of primary interviews is given below:
- By Company Type:Tier 1 – 27%, Tier 2 – 46%, and Others – 27%
- By Designation:C-level – 36%, D-level – 28%, and Others – 36%
- By Region:Asia-Pacific – 46%, Europe – 27%, North America – 18%, and South America & MEA – 9%
The building & construction segment was the largest application segment of the polyurea coatings market in 2016.
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The transportation industry is one of the potential markets for polyurea coatings, as these coatings are widely utilized in truck bed linings, railcar linings, and conveyor belt linings.
Based on type, the hybrid polyurea segment is projected to lead the polyurea coatings market from 2017 to 2022. The pure polyurea type segment is projected to grow at the highest CAGR during the forecast period both, in terms of value and volume.
This growth is mainly attributed to the high demand for pure polyurea coatings across varied applications that include roof coat, floor coat, and bonded area, among others.
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