Hybrid Coating Technologies Inc (fka HCTI)

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Global Polyurea Coatings Industry Report 2020-2025 - Disruption in Value Chain due to COVID-19, Action Plan Against Such Vulnerability
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Research and Markets
May 29, 2020, 10:30 ET

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DUBLIN, May 29, 2020 /PRNewswire/ -- The "Polyurea Coatings Market by Type (Pure And Hybrid), Technology (Spraying, Pouring and Hand Mixing), End-Use Industry (Building & Construction, Transportation, Industrial, and Landscape), by Raw Material, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global polyurea coatings market size is expected to grow from USD 885 million in 2020 to USD 1,481 million by 2025, at a CAGR of 10.8% between 2020 and 2025. The rising demand for polyurea coatings across various end-use industries, such as building & construction, transportation, industrial, and landscape, is expected to drive the growth of the polyurea coatings industry.

Market players offering different product grades and the shift in consumer preference toward high-quality products are also driving factors for the market. Increasing environmental concerns and growing regulatory policies have propelled manufacturers of polyurea coatings to focus on the development of eco-friendly products. However, the restraining factor for the market is the higher cost of polyurea coatings than the other coating technologies.

Based on raw material, the aromatic isocyanate segment is expected to lead the polyurea coatings market during the forecast period.

Based on raw material, the aromatic isocyanate segment accounted for the largest share of the polyurea coatings industry in 2019, in terms of both volume and value. The aromatic isocyanate-based polyurea coatings segment is highly dependent on the growth of its end-use industries, including transportation, building & construction, marine, and industrial.
Aromatic isocyanate-based polyurea has excellent physical properties with high-performance features along with abrasion and corrosion resistance for coating applications in the marine (boat hulls, docks, and others), construction (wall & floor coatings and others), industrial (machinery, containment, and others), and other industries. Aromatic polyurea coatings are not color stable when exposed to UV light due to the aromatic content.