The
global Polyurea Market size is expected to reach USD 1.1
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 4.9% over the forecast period. Increasing importance of
spray-based elastomeric coatings in the automotive and construction industries
on account of providing fast cure time is expected to remain a favorable factor
for the growth. In addition, rising importance of waterproofing membrane in
civil construction and residential structures is expected to augment the use of
sealing materials and thus likely to fuel demand.
Expansion
of the automotive industry in China, India, and Mexico due to new product
launches, along with easy access of raw materials, is expected to fuel the
demand for polyurea coatings. These coatings exhibit good rust prevention and
excellent build-crack resistance. Surging demand for eco-friendly coatings in
the automotive industry on account of rising concerns over greenhouse gas
emissions is fueling the growth. Demand for the polymer in transportation
applications is anticipated to reach 32.4 kilo tons by 2025.
Rising
expenditure on usage of lining systems for environment protection on account of
stringent regulations aimed at mitigating the pollution problems is expected to
fuel product demand. However, increased usage of polyolefin-based lining
systems, including HDPE and LDPE, in the construction and mining sectors on a
global level is expected to remain a credible threat over the next few years.
Further
key findings from the study suggest:
- The market volume was
pegged at 133.2 kilo tons in 2018 and is expected to reach over 180.7 kilo
tons by 2025. Enhanced material characteristics and increasing awareness
pertaining to its application are expected to drive the polyurea market
over the forecast period
- Aliphatic compounds are
capable of providing light stability, along with exceptional UV
protection. Manufacturers use aliphatic compounds such as isophorone
diisocyanate (IPDI) and hexamethylene diisocyanate (HDI) for the production
of finished products used as coatings, sealants, and lining materials. The
global aliphatic demand is expected to exceed 50 kilo tons by 2025
- Demand for adhesives and
sealants was 12.9 kilo tons in 2018. Surging application of adhesive as a
substitute to metal fastener in automobiles for reducing the overall car
weight and improving fuel efficiency is expected to play a crucial role in
accelerating market growth
- The coatings segment in
U.S. is expected to expand at a CAGR of 4.8% from 2019 to 2025 in terms of
revenue. Gains in the automotive industry of U.S. on account of increasing
domestic consumption of four-wheelers, particularly SUVs, are expected to
promote the application of coatings and thus likely to augment growth
- The market in Asia Pacific
was valued at USD 198.3 million in 2018. Expansion of the construction
industry in China and India on account of rising government spending on
infrastructure improvement as a part of 12th Five Year
Plan is expected to fuel demand
- Major market players include
BASF; Bayer; Huntsman; Versaflex; Specialty Products, Inc.; Nukote; and
SWD Urethane. The market is characterized by new product development and
establishment of strategic partnerships with buyers.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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