Increasing demand for industrial coatings is expected to positively impact the polyurea market through the forecast period. Formed through the reaction between a resin blend component and an isocyanate component, polyurea exhibits fire-retardant properties and are used for protecting steel structures. Some of the application areas include concrete bridges, social housing programs and government construction projects. The global polyurea market is estimated to reach USD 1.40 billion by 2020.
Eco-friendly characteristics of polyurea due to lack of Volatile Organic Compounds (VOCs) is expected to favorably impact the market and increase applications in construction sector.
Browse Detailed report with TOC at:
Polyurea also has high elongation and tensile strength that makes it suitable for sealing cracks. Superior performance as compared to alternatives such as epoxy and polyurethanes is expected to drive polyurea market demand. Increasing demand from these application industries is expected to fuel overall market growth. However, improper specification of hybrid and pure products results in dissatisfaction among the buyers causing lack of standardization, which may act as a barrier to market growth. There exists a need for proper technical support and surface preparation solutions in order to overcome the barrier and realize its market potential.
Raw Material Insights
Aromatic raw material occupied over 75% of the global polyurea market share in 2013. It is further expected to be the dominant market segment through the forecast period. These materials are formed by the presence of an aromatic diisocyanate such as TDI and MDI.
Related Reports By Hexa Research:
PP (Polypropylene) Nonwoven Fabrics Market:
Specialty And High Performance Films Market:
Latin America Adhesives And Sealants Market:
Aliphatic polyurea, on the other hand, is expected to exhibit slower growth than the global average through the forecast period. Aliphatic raw materials are based on aliphatic diisocyanates including HDI and IPDI. Due to the difficulty in processing, these raw materials are retailed at high price as opposed to their counterparts. However, companies such as BASF are ensuring competitive costs in order to further boost the polyurea market.
Product segment includes sealants, lining and coating. Coatings accounted for over 65% of the market in 2013 and are expected to remain the market leader by 2020. These coatings provide advantages over traditional materials such as paint, epoxy, fiberglass and vinyl esters. In addition, they provide features such as high tensile strength, resistance to extreme atmospheric conditions and fast setting time. Lining systems possess rapid drying finishes, high build thickness characteristics and are used in alternatives to polyurethane, epoxy and fiberglass.
Application segments can be categorized into transportation, industrial and construction. Polyurea is most widely used in the construction industry; it accounted for over 40% of the global market share in 2013. Roofing membranes are used for waterproofing and repairing concrete elements on bridge structures. This can be attributed to its properties such as flexibility and high resistance. The market for industrial applications is estimated to grow at a CAGR of over 5.0% from 2014 to 2020, in terms of volume.
Request a sample copy of this Report at:
Asia Pacific is expected to be the dominant regional segment, mainly due to increasing applications in transportation, industrial and construction sectors. Growing demand from end-use industries such as industrial and automotive due to high growth potential from protection coatings in countries such as China and India are expected to further widen the application avenues and boost the polyurea market.
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Company Name: Hexa Research
Contact Person: Michelle Thoras and Ryan Shaw
Email: Send Email
Address:Felton Office Plaza, 6265 Highway 9
Country: United States