Polyurea Market Size Is Projected To Reach $936.7 Million By 2022: Grand View Research, Inc.

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According to new report published by Grand View Research, the global polyurea market stood at 114.3 kilo tons in 2014 and is projected to rise to 150 kilo tons by 2022. Rising industrialization worldwide is also playing an important role in the development of the market.

As per the findings of Grand View Research Inc., the global polyurea market stood at 114.3 kilo tons in 2014 and is projected to rise to 150 kilo tons by 2022. Polyurea is an elastomer obtained by a polyaddition reaction of aromatic isocyanate or aliphatic or of an isocyanate prepolymer with a polyfunctional mixture of amines, which are generally mixed in a ratio of 1:1. Inherent inertness of polyurea to various chemicals and fluids is promoting its applications in several industries. Besides this, the polymer offers several unique characteristics, including high thermal stability, fast curing time, and superior pigment compatibility.

The market is poised to amount to USD 936.7 million by 2022. Polyurea is extensively used in the construction and transportation sectors. Therefore, rapid infrastructural development such as commercial and residential buildings, bridges, parking lots, and roads, especially in emerging economies, is likely to stoke market growth. Surging use of protective coatings in the automotive industry for rust prevention and high durability is also anticipated to escalate the growth of the market.

Polyurea provides excellent adhesion to clean substrates such as bitumen, wood, blasted steel, and concrete and is, therefore, added to adhesive and sealant formulations on a large scale. The volume of polyurea-based adhesives and sealants used in 2014 summed up to 11.3 kilo tons. Expanding applications of adhesives and sealants as bonding agents in industries such as construction and automotive can augment the market. Rising industrialization worldwide is also playing an important role in the development of the market. Spiraling demand for linings to provide corrosion resistance and waterproofing qualities in fuel containers, chemical tanks, and metallic pipelines can drive the market.

Full Research Report On Polyurea Market Analysis:

U.S. polyurea market volume, by application, 2012 – 2022 (Kilo Tons)

U.S. polyurea market volume, by application, 2012 - 2022 (Kilo Tons)

The elastomer is environmentally safe due to its lower volatile organic compound (VOC) content. Growing investments in the construction of lining systems in practices including landfill control to promote environmental protection are expected to positively influence growth. Besides this, polyurea offers good aesthetic quality to surfaces such as walls and floors by imparting a glossy finish, which in turn can stir up its demand in landscape designing and other architectural designs.

On the other hand, strong presence of low-cost coating substitutes such as polyurethane and epoxy is one of the major stumbling blocks for polyurea manufacturers. Moreover, growing prominence of polyolefin-based lining systems in the mining and construction sectors can hamper growth prospects. Lack of standardization is encouraging the sales of poor hybrids, which is adversely affecting the growth of the market.

However, innovation in production methods of polyurea can spur its adoption in the near future. For instance, according to “Progress in Organic Coatings”, a paper published on ScienceDirect in May 2017, synthesis of phenalkamines from cardonal and their application as curing agents for blocked polyisocyanates can yield polyurea coatings with phenomenal mechanical and chemical properties.

View More Reports Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/plastics-polymers-and-resins

The global polyurea market has been divided based on raw material, product, application, and geography. By raw material, the market has been bifurcated into aliphatic and aromatic. Demand for aliphatic is estimated to cross 45 kilo tons by 2022. In terms of product, the market has been classified into lining, coating, adhesives and sealants, and others. Key applications reviewed in the report are industrial, transportation, construction, and others. The volume of polyurea consumed in the transportation sector is expected to reach 28.6 kilo tons by 2022, exhibiting a CAGR of 4.0% between 2015 and 2022 (forecast period).

From a geographical standpoint, the market has been segmented into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. North America commanded 39.8% of the overall volume in 2014. The growth of the region can be attributed to presence of advanced automotive manufacturing infrastructure in U.S. and Mexico. Population growth and subsequent increase in the number of residential structures are also contributing to market growth in the region.

Asia Pacific is poised to post a CAGR of 5.9% in terms of volume during the same period. Flourishing construction industry in emerging economies such as India and China, owing to increasing investments in the development of urban areas, is one of the primary growth stimulants of the regional market.

Some of the key players in the global arena are Specialty Products Inc.; PPG Industries; VersaFlex Inc.; BASF; and LINE-X Protective Coatings.

Access Full Press Release Of This Report By Grand View Research: https://www.grandviewresearch.com/press-release/global-polyurea-market

About Grand View Research

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: http://www.grandviewresearch.com

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