VOC Reduction Programs to Drive Polyurea Market Demand to US$989.6 Million in 2022

The growing demand for polyurea-based coatings will be created US$2 billion Market opportunity in 2032

Fact.MR’s new report on the global polyurea market provides a 10-year forecast to 2022 and beyond. The report further explains crucial dynamics, such as emerging opportunities, challenges, and drivers shaping the global market. The report has also been segmented in terms of raw material, product type, application and region to present the information comprehensively.

NEW YORK , July 19, 2022 /PRNewswire/ — The global polyurea market size is expected to reach US$2 billion in 2032, increasing to 7.1% CAGR over the 2022 to 2032 forecast period. use polyurea coatings.

According to Fact.MR, the polyurea market is expected to reach a valuation of US$989.6 million in 2022. Increasing use of various polyurea products as coating solutions, coatings and sealants is expected to increase growth. Polyurea products help provide excellent water insensitivity, pigment compatibility and good thermal stability.

In addition, polyurea is mainly adopted by end users because they comply with the strict standards issued by the authorities governing the harmful effects of VOCs on the environment. Polyurea solutions also find applications in industrial decking, as well as the lining of safety pools.

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In addition, substantial investments in industries including manufacturing, marine, automotive and building and construction, especially in China should stimulate the Asia Pacific market.

Several international companies based in Europe and North America should move their manufacturing facilities to China and India due to the easy availability of cost-effective raw materials and labor.

In North Americaon the other hand, the rapid improvement of infrastructure in the United States to accelerate the number of residential structures is likely to increase the use of polyurea in the form of coatings, as well as adhesives.

Additionally, the growing emphasis on environmental protection, particularly in the manufacturing and construction sectors across the UK, is expected to boost the demand for polyurea in Europe.

Key points to remember:

  • The U.S. Polyurea Market is Expected to be Valued at US$608.8 million and is growing at a CAGR of 6.9% over the forecast period.
  • Based on product type, the coatings segment is expected to remain at the forefront by growing at a CAGR of 7.6% in 2032.
  • The coatings segment had achieved a slightly higher CAGR of 7.6% during the assessment period from 2022 to 2032.
  • By feedstock, the aromatic category is expected to generate the largest polyurea market share and register a CAGR of 7.7% by 2032.
  • The global polyurea market is expected to grow at a steady pace with a CAGR of 7.1% in 2032.

Growth drivers:

  • Strong demand for polyurea coatings in landscaping, building & construction, industrial and transportation sectors is expected to drive growth.
  • The excellent water insensitivity, fast curing time, pigment compatibility and high thermal stability properties of polyurea are expected to propel its demand.

Constraints:

  • The increasing use of polyolefin-based coating systems, such as LDPE and HDPE in the mining and construction industries, could hamper growth.
  • Applying polyurea adhesive requires the use of high-tech equipment that can be expensive to buy or rent.

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Competitive Landscape:

The global polyurea market is highly fragmented with the presence of several small and medium-sized companies. The major players in the market are focusing on the development of cutting-edge products to meet the ever-increasing consumer demand. They also engage in merger and acquisition activities, as well as partnerships to strengthen their position and gain a competitive advantage in the global market.

For instance,

  • In April 2022, Bayer, a German multinational pharmaceutical company, announced that Ginkgo Bioworks plans to acquire its in-house lead discovery and optimization platform, as well as the research and development (R&D) site of West Sacramento Biologics. The deal would help Bayer strengthen its position in biologics and develop new technologies related to synthetic biology.
  • In February 2022The Sherwin-Williams Company, a U.S.-based paint and coatings manufacturing company, has signed an agreement with the city of Statescity, Iredell Countyand the state of North Carolina. The company aims to establish a larger distribution facility and expand its manufacturing capacity for architectural paints and coatings in Statescity.

Top Companies Featured by Fact.MR

  • Hunter’s Society
  • BASF SE
  • Bayer AG
  • Specialty Products Inc.
  • VersaFlex Inc.
  • Rhino Linings Corporation
  • Covestro S.A.
  • Nukote Coating Systems
  • Urethane SWD
  • Sherwin-Williams Company

More Valuable Insights into the Polyurea Market

In the latest study, Fact.MR offers a detailed study on the global polyurea market for the forecast period 2022 to 2032. This study also highlights the key drivers driving the sales of polyurea through detailed segmentation as follows :

By raw material:

By product type:

  • coating
  • Trim
  • Adhesive and sealants
  • Other types of products

Per application:

  • Construction
  • Industrial
  • Transportation
  • Other Apps

By region:

  • North America
  • Latin America
  • Europe
  • APAC
  • AEM

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Key Questions Answered in the Polyurea Market Report

  • What is the projected value of the polyurea market in 2022?
  • At what rate will the global polyurea market grow up to 2032?
  • What are the factors hindering the growth of the polyurea market?
  • Which region is expected to lead the global polyurea market in 2022-2032?
  • What are the factors driving the polyurea market during the forecast period?
  • What is the expected market value of Polyurea market during the forecast period?

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