“The worldwide market size of Polyurea is anticipated to cross USD 763.1 million in 2019 and is expected to increase from 2019 to 2029 at a CAGR 4.1%”, says Visiongain report
11 September 2019
Visiongain’s new report the Polyurea Market Report 2019-2029: Forecasts by Product (Coating, Lining, Adhesives & Sealants, Others), by Raw Material (Aromatic, Aliphatic), by Application (Construction, Industrial, Transportation, Others), by Region and Analysis of Leading Companies Operating in This Industry. The worldwide market size of Polyurea is anticipated to cross USD 763.1 million in 2019 and is expected to increase from 2019 to 2029 at a CAGR 4.1%.
Polyurea is obtained through step-growth polymerization from the reaction of synthetic resin and isocyanate compounds mixed polymers. This polymer is processed for the production of coatings, lining structures, sealants and adhesives. Due to its outstanding adhesion to smooth substrates such as concrete, bitumen, wood and blasted steel, polyurea is added to adhesive and sealant formulations. Increasing use of adhesives and sealants as bonding agents in the automotive and building sectors is anticipated to play an important role in the growth of automotive and building sector in the near future.
Increasing use of protective coatings in automotive and construction applications is anticipated to encourage the use of polymer due to their avoidance of rust and high durability. However, the existence of low-cost fabric replacements including epoxy and polyurethane over the forecast period is anticipated to adversely affect development.
Rapid industrialization around the globe is anticipated to have a positive impact on the polyurea industry, among other driving factors. Growing demand for linings in chemical tanks, metal pipelines, fuel containments, etc. to provide waterproofing and corrosion resistance will increase usage. Increased use in designing landscapes, water parks, architectural designs etc. will also have a beneficial effect on the polyurea worldwide market.
Lack of standardization is anticipated to have adverse impacts on the polyurea sector, combined with less product variance and marketing. Effective laws against the sale of poor hybrids will solve this issue and promote the worldwide polyurea industry, as per reports of Polyurea Development Association (PDA).
On the basis of application, the global market has been segmented into industrial purposes, construction, and transportation of fluids among other numerous applications. Building applications resulted dominated the global market with more than 42% share. Major applications comprise multi-purpose joint filling, caulking, and as a sealant material as it provides a corrosion-resistant, durable, flexible and weather-resistant seal for various building joints including masonry floor expansion and control joints, perimeter joints, window and door panels, water tanks.
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