The
global Polyurea Market size is expected to reach USD
1,404.9 million by 2030, according to a new report by Grand View Research, Inc.
The market is expected to expand at a CAGR of 6.1% from 2023 to 2030. Rising
industrial output and growing disposable consumer income in emerging markets
such as Germany and Canada is expected to augment the market growth of consumer
goods, construction, and automotive products. As a result, the aforementioned
trends are expected to promote the application of adhesives and
sealants as bonding agents in the automotive and construction industries.
The
rising application of residential, non-residential, and commercial structures
in the U.S. on account of improvements in household and manufacturing sectors,
post the Great Recession of 2008-09, is anticipated to fuel demand for flooring
solutions, waterproofing membrane, and lining materials over the forecast
period. As a result, the aforementioned favorable trends pertaining to the
growth of the construction industry in the U.S. is expected to fuel polyurea
demand over the coming years.
The
increasing use of waterproofing membranes in the construction sector for
providing excellent seal protection is expected to promote the incorporation of
polyurea as a raw material for manufacturing finished products. The growing
application of adhesives & sealants in footwear and automotive industries
owing to the rising importance of bonding agents is expected to remain a
favorable factor for the polyurea market over the forecast period.
Furthermore,
the increasing requirement for coating solutions with specifications such as
enhanced service life, improved corrosion resistance, and providing good
thermal stability, on account of the rising importance of condition-based
monitoring over breakdown maintenance in manufacturing industries, is expected
to further fuel market growth.
Related Press
Release@ Polyurea Market Report
Polyurea Market Report Highlights
- In terms of
revenue, the coating accounted for a prominent share of the market in 2022
and is further expected to witness prominent growth over the forecast
period
- The
construction application segment dominated the market and accounted for
more than 43.4% of the revenue share in 2022. Growing domestic consumption
of specialty polymers and textiles in the Middle East, in light of
application growth in the household, automotive, FMCG, and healthcare
industries, has forced governments to build manufacturing facilities to
cater to the regional demand
- As of 2022,
North America accounted for more than 40.0% of the market share in terms
of revenue. Gains in the automotive industry of the 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
the polyurea market
- Major top
players are continuously working on developing their manufacturing plants
owing to the increased usage of polyurea in the construction industry.
Additionally, many companies have started focusing on strategies such as
mergers and acquisitions to broaden their product portfolio and strengthen
their presence in the market
About Us:
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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