Pune, India -- (SBWIRE) -- 01/30/2018 -- The Polyurea Coating is extensively utilized in the production of lining systems, sealants, coatings and adhesives. The rising utilization of protective coatings in the construction and automotive sector owing to high durability and rust prevention is anticipated to increase the utilization of polyurea. However, the availability of alternative coatings those are low-cost like polyurethane and epoxy may hamper the growth of the polyurea market. Polyurea is used in adhesives and sealants owing to its outstanding adhesion features on surfaces such as concrete, wood blasted steel and bitumen. Increasing utilization of sealants and adhesives as bonding substances in sectors like construction and automotive is anticipated to boost the growth of the market.

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The global polyurea market was worth USD 0.87 billion in the year 2014 and is foreseen to garner roughlyUSD 1.40 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 5.39% during the forecast period. In 2014 the global polyurea market was sized 114.3 kilo tons. Polyurea is utilized in a number of applications that include transportation and construction due to its unusual features like high thermal stability, fast curing time, outstanding water insensitivity and pigment compatibility. This Polyurea Coating is obtained from the reaction of synthetic resin blended Polyurea Coatings and isocyanate compounds via step-growth Polyurea Coatingization. Growing disbursement on the utilization of lining systems for the protection of the environment processes like landfill control, owing to strict regulations with the aim of reducing the harmful effects of pollution the demand of the polyurea is expected to boost.

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A switch in preference in the manufacturing industry from breakdown maintenance to condition-based monitoring is one of the factors to increase the usage of protective coatings, thereby boosting the growth of the polyurea market.

Polyurea renders high reactivity and moisture insensitivity that boosts its usage in applications like tank liners, secondary containment structures and manhole & tunnels. The requirement of polyurea in industrial applications in 2014 crossed 30 kilo tons. The regional market of North America registered for 39.8 percent of the total volume in 2014. Enhancement in the infrastructure in the United States owing to rising number of residential structures is anticipated to boost the utilization of the Polyurea Coating as adhesives and coatings. Asia Pacific is anticipated to encounter significant growth owing to confident outlook towards the construction sector in countries like India and China on account of growing expenditure for urban development.

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Competitive Insights

The major industries in the global Polyurea market are Nukote Coating Systems International, Specialty Products, Inc. (SPI), LineX Protective Coatings, BASF, SWD Polyurethane, PPG Industries and VersaFlex Inc. Nukote Coating Systems inaugurated manufacturing at its new facility based in Dammam, Saudi Arabia, Versaflex, PPG Industries, Sherwin-Williams, Rhino Linings, Kukdo Chemicals, Nukote Coating Systems, Specialty Products and Wasser Corporation