August 2024 | Report Format: Electronic (PDF)
The global polyurea market size is expected to reach USD 1,373.34 million by 2030, registering a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. 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.
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Polyurea Market Report
Polyurea Market Report Highlights
In terms of revenue, the coating accounted for a prominent share of the market in 2023 and is further expected to witness prominent growth over the forecast period
The construction application segment dominated the market and accounted for more than 43.5% of the revenue share in 2023. 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 2023, 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
Grand View Research has segmented the global polyurea market based on raw material, product, application, and region:
Polyurea Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018–2030)
Aromatic
Aliphatic
Polyurea Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018–2030)
Coating
Lining
Adhesives & Sealants
Others
Polyurea Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018–2030)
Construction
Industrial
Transportation
Others
Polyurea Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Asia Pacific
China
India
Japan
Central & South America
Brazil
Argentina
Middle East & Africa
GCC Countries
South Africa
List of Key Players in the Polyurea Market
BASF
W.R. Grace
SWD Polyurethane
Specialty Products Inc.
LINE-X Protective Coatings
Nukote Coating Systems International
VersaFlex Inc. Nukote Coating Systems
PPG Industries