Adoption of polyaspartic coatings continues to grow, with a new report by Fact.MR estimating revenues to grow at nearly 5.5% through 2031. Growing demand of water-based coatings, especially the hike witnessed after COVID-19, has accelerated the adoption of polyaspartic coatings in U.S.
According to latest study by Fact.MR, steady recovery in construction industry has attracted stakeholders fueling the sales globally. However, growing inclination towards water-based coatings to boost polyaspartic coatings sales in China.
According to a press release by The Construction Association of America, in March 2021, construction spending had an upsurge in January as private non-residential sectors gained momentum. Construction spending in U.S. totaled $1.52 trillion with an increase of 1.7%, which is 5.8% higher than in January 2020. Hence, aiding the growth for polyaspartic coatings in North America.
“Speedy recovery of construction industry and increasing demand for water-based coatings from the end-users are fostering the sales of polyaspartic coatings. Backed by highly developed manufacturing hubs and advanced construction and transportation industry, polyaspartic coatings sales to manifold through 2021,” says a Fact.MR analyst.
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- By end-user, power generation to bolster the sales for polyaspartic coatings
- Remarkable surge in sales post-pandemic for water-based coatings driving growth in U.S.
- Construction sector to remain lucrative
- North America and Europe to collectively hold largest market share revenue
- Highly developed manufacturing hub in India spearheading the Asia Pacific market growth
- Water-based polyaspartic coating to emerge as a lucrative segment
- Germany to emerge as a potential market backed by the expanding manufacturing companies
- China’s market reliant on increased preference for water-based polyaspartic coatings from construction sectors
Abbott Laboratories, Akzo Nobel NV, Cipy Polyurethanes Pvt. Ltd., Covestro AG, PPG Industries AG, Rust-Oleum Corporations, Sika Corporation, and The Sherwin-Williams Company are some of the key companies that are profiled by Fact.MR. Demand for improved durability and sustainable products are some of the features pushing manufacturers to develop eco-friendly products.
For instance, in March 2021, Akzo Nobel NV completed the acquisition of the shares of Industrias Titan S.A.U. stregthning its business in Spain to become of the market leaders in the region, including one of the most modern manufacturing plants for water-based paints in Europe.
Also, in February 2021, PPG completed the acquisition of Coatings Manufacturer VersFlex from Dalfort Capital Partners.
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More Valuable Insights on Polyaspartic coatings Market
Fact.MR, in its new offering, presents a detailed analysis of the global polyaspartic coatings market. The study divulges essential insights on the polyaspartic coatings market on the basis of end-use industry (construction, transportation, power generation, and other end uses), technology (water, solvents, and powder), and regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
Key Questions Covered in the Report
- Which is the most lucrative market for polyaspartic coatings?
- Which are the major companies leading the global polyaspartic coatings market?
- What are the key challenges faced by polyaspartic coatings suppliers?
- Which factors will drive the sales of polyaspartic coatings market?
- Which technology is most preferred for polyaspartic coatings?
- What is the impact of Covid-19 on polyaspartic coatings market?
Read Fact.MR Exclusive Article on Emerging Growth Frontiers in the Global Coatings Industry –
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