The global polyurea coatings market is likely to register a valuation of US$ 902.9 million in 2023. Between 2023 and 2033, a robust CAGR of 9.3% should fuel the acceleration of the market. This should culminate in a market valuation of US$ 2,204.6 million in 2033.
Polyurea, a synthetic polymer, is derived from the reaction between a di-amine and a di-isocyanate. The use of polyurea-based coatings is common across a variety of industries such as automotive & transportation, and building & construction. This is due to polyurea’s beneficial characteristics such as
The formulation of polyurea coatings consist of the following elements
In the coming years, sales of hybrid polyurea products should dominate the market. This is due to the fact that hybrid polyurea offers several advantages over pure variants such as
However, pure polyurea sales are likely to continue for applications where temperature and moisture resistance are necessary.
Developing economies should contribute to market expansion. Across these economies, there is an increasing need for protecting equipment, machine parts, and infrastructural investments. Car parking lots, offshore structures, bridges, rooftop coatings, and containment liners are examples of applications where polyurea coatings play important roles.
North America is a key market that accounts for a prominent share in the global polyurea coatings market. The market in South Asia is expected to register a significant CAGR in the coming years and provide lucrative opportunities.
From a regional perspective, East Asia is anticipated to hold a significant share from 2023 to 2033. In recent years, environmental regulations have become more stringent in regions such as North America and Europe. Also, countries such as China are adopting such regulations pertaining to VOC emissions, owing to which, there is rising demand for eco-friendly polyuria coatings.
According to Future Market Insights (FMI) estimates, global polyurea coatings sales are likely to increase rapidly between 2023 and 2033. This should generate an absolute growth opportunity of US$ 1,301.7 million.
| Attribute | Key Insights |
|---|---|
| Estimated Polyurea Coatings Market Value (2023) | ~US$ 902.9 million |
| Projected Market Value (2033) | ~US$ 2,204.6 million |
| Value-based CAGR (2023 to 2033) | ~9.3% |
| Top Players Share in 2022 | ~59.2% |
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Between 2018 and 2022, a healthy 7.6% CAGR accelerated the market. In 2022, the value of the global market reached around US$ 823.9 million.
Compared to the 9.3% CAGR likely for the market in the years ahead, the 7.6% CAGR recorded across recent years is reflective of a slight lull in acceleration. This was primarily owing to the COVID-19 pandemic, which had a crippling effect on the global economy along with various industrial activities.
However, now that the global economy is recovering, industrial activities are on the rise once more. This should work in favor of polyurea coatings companies and provide lucrative opportunities in the future.
Demand should be particularly substantial from rapidly-developing economies such as India and China. Across these nations, industrial expansion is happening at a breakneck pace. Both public and private players across these countries are fueling diverse building & construction projects.
All in all, it’s safe to say that the ongoing industrial activities across developing economies should accelerate the market for polyurea coatings. In the near future, however, FMI expects consumers to be cautious owing to economic uncertainties.
| Market Statistics | Details |
|---|---|
| January to June (H1), 2021 (A) | 9.10% |
| July to December (H2), 2021 (A) | 9.40% |
| January to June (H1),2022 Projected (P) | 9.20% |
| January to June (H1),2022 Outlook (O) | 9.40% |
| July to December (H2), 2022 Outlook (O) | 9.60% |
| July to December (H2), 2022 Projected (P) | 9.80% |
| January to June (H1), 2023 Projected (P) | 9.40% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 20 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 30 ↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | (+) 20 ↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | (+) 40 ↑ |
The above graphic demonstrates market movements caused by several global economic issues. Rising population and increasing building and construction activities, together with strong industrial expansion, are expected to drive considerable growth in the market. Prominent developing economies have shown excellent economic development potential, owing predominantly to increased urbanization and strong demand from the automobile and food and beverage industries. During the next decade, the leading end-use sectors will account for more than 70% of absolute growth.
Principal Consultant
Rising Environmental Concerns and Significant Application Costs to Shape Polyurea Coatings Demand
Environmental consciousness has resulted in a revolution in coating technology. Water-borne, high-solid, and powder coatings are gaining popularity in a variety of sectors. Coating technology advancements have also resulted in the creation of spray, injection, and roto-cast application equipment that enhances the performance of polyurea coatings.
Polyurea coatings have shown to be a successful and cost-effective solution for a variety of applications in a wide range of end-use industries, while also meeting environmental requirements. Polyurea coatings are extremely reactive and cure fast.
The application of polyurea coatings on damp surfaces may result in poor surface adherence. As a result, the surface requires appropriate drying time before applying a polyurea coating.
Also, the cost of applying polyurea coatings is significantly greater due to the expense of spraying equipment. Handling such machinery necessitates the use of professional laborers and technicians. The challenges listed above may impede the acceleration of the market for polyurea coatings.
Hybrid Polyurea’s Advantages Compared to Pure Variants to Fuel Sales in the Coming Years
According to FMI, the hybrid polyurea segment should lead in terms of sales from 2023 to 2033. Hybrid polyurea coatings are known for being environment-friendly due to the lack of volatile organic components (VOCs). They also feature waterproofing material along with two-component coating.
Here is a brief glimpse at the various advantages of hybrid polyurea coatings
These advantages are likely to result in substantial hybrid polyurea coatings sales. However, players exclusively dealing in pure polyurea can rest assured that their sales will not be significantly affected. After all, there are certain applications for which only pure polyurea is suitable.
Building & Construction Segment to Generate Significant Polyurea Coatings Demand in an Era of Rising Infrastructure Projects
Polyurea coatings are ideal for corrosion prevention and waterproofing applications. In the coming years, FMI expects the building & construction industry to lead the market in terms of demand generation.
All over the world, the building & construction industry is advancing as infrastructure projects soar. As a result, the building & construction segment is likely to lead polyurea coatings demand. However, it is not the only segment that should generate significant demand for polyurea coatings.
FMI also expects the automotive, mining, oil & gas, chemicals, and water treatment sectors to contribute to market acceleration. Players in the market for polyurea coatings should focus on diversifying products to increase sales to multiple industries.
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| Country | United States |
|---|---|
| Market Share (2023) | 28.7% |
| Market Share (2033) | 28.1% |
| BPS Analysis | -60 |
| Country | China |
|---|---|
| Market Share (2023) | 12.8% |
| Market Share (2033) | 14.1% |
| BPS Analysis | +130 |
| Country | Germany |
|---|---|
| Market Share (2023) | 4.5% |
| Market Share (2033) | 4.0% |
| BPS Analysis | -60 |
| Country | Japan |
|---|---|
| Market Share (2023) | 5.3% |
| Market Share (2033) | 5.2% |
| BPS Analysis | -10 |
| Country | India |
|---|---|
| Market Share (2023) | 4.1% |
| Market Share (2033) | 5.0% |
| BPS Analysis | +80 |
Europe, North America, East Asia, South Asia, and Latin America to Drive Acceleration for the Market for Polyurea Coatings
Future Market Insights (FMI) forecasts North America and Europe as significant markets where polyurea coatings sales are likely to thrive. This forecast is owing to rising demand for eco-friendly and sophisticated coatings as a result of rigorous VOC emission laws.
Growing government attempts to embrace sophisticated coating technologies as a result of increased environmental consciousness in places such as South Asia and East Asia are likely to fuel polyurea coatings demand across these regions. The South Asia market is expected to expand at an impressive 11% CAGR. East Asia is predicted to outperform Europe on the basis of market valuation between 2023 and 2033.
Due to an increase in building & construction activities along with automobile manufacturing, areas such as South America are expected to see significant development from 2023 to 2033. Markets in areas such as the Middle East and Africa and Oceania are also predicted to rise strongly in the coming years.
The market for polyurea coatings is fiercely competitive. FMI expects the competition to gather further momentum between 2023 and 2033 due to the opportunities that are likely to emerge. In the recent past, players have been firmly focused on launching new products. Prominent acquisitions have also facilitated the expansion of prominent names.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | US$ 902.9 million |
| Projected Market Size (2033) | US$ 2,204.6 million |
| Anticipated Growth Rate (2023 to 2033) | 9.3% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million for Value |
| Key Regions Covered | North America; Europe; Latin America; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Covered | The United States, Canada, Mexico, Brazil, Germany, France, Italy, Spain, BENELUX, Russia, The United Kingdom, China, Japan, South Korea, India, Philippines, Thailand, Malaysia, Australia and New Zealand, Gulf Co-operation Council Countries, Türkiye, South Africa |
| Key Segments Covered | Type, Isocyanate Type, Application, Region |
| Key Companies Profiled | BASF SE; Huntsman Corporation; Teknos Groups; DuPont de Nemours, Inc.; Versaflex Incorporated; Sherwin Williams Company; Pidilite Industries Ltd.; Covestro AG; PPG Industry Inc.; Rhino Linings Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities, and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is valued at US$ 902.9 million in 2023.
The market rose at a 7.6% CAGR from 2018 to 2022.
The market will reach US$ 2,204.6 million by 2033.
The market CAGR until 2033 is 9.3%.
Building & construction applications will generate substantial demand.
1. Executive Summary | Polyurea Coatings Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
4. Key Success Factors
5. Parent Market Analysis - Global Elastomeric Coating Market
5.1. Introduction
5.2. Historical Market Size and Volume Analysis By Resin Type 2018 to 2022
5.3. Market Size and Volume Forecast By Resin Type 2023 to 2033
5.3.1. Acrylic
5.3.2. Polyurethane
5.3.3. Silicone
5.3.4. Polyurea
5.3.5. Other Resins
6. Global Polyurea Coating Market Consumption (Tons) Analysis
6.1. Historical Market Volume Analysis
6.2. Current and Future Market Volume Projections
6.3. Y-o-Y Growth Trend Analysis
7. Pricing Analysis
7.1. Global Average Pricing Analysis Benchmark
8. Global Polyurea Coating Market Consumption (Market Size US$ million) Analysis
8.1. Historical Market Value (US$ million) Analysis
8.2. Current and Future Market Value (US$ million) Projections
8.2.1. Y-o-Y Growth Trend Analysis
8.2.2. Absolute $ Opportunity Analysis
9. Market Context
9.1. Key Regulations
9.2. Manufacturing Process Overview
9.3. Raw Materials
9.4. End User Preference for Value Added Functionalities
9.5. Macro-Economic Factors
9.5.1. Global GDP Outlook
9.5.2. Growth Industry Value Added
9.5.3. Global Automotive industry Outlook
9.5.4. Global Building & Construction Outlook
9.6. Forecast Factors – Relevance & Impact
9.7. Value Chain
9.8. Market Dynamics
9.8.1. Drivers
9.8.2. Restraints
9.8.3. Opportunity Analysis
10. Global Polyurea Coating Market Analysis By Type
10.1. Introduction
10.1.1. Market Value Share Analysis By Type
10.1.2. Y-o-Y Growth Analysis By Type
10.2. Historical Market Size and Volume Analysis By Type 2018 to 2022
10.3. Market Size and Volume Forecast By Type 2023 to 2033
10.3.1. Pure Polyurea
10.3.2. Hybrid Polyurea
10.4. Market Attractiveness Analysis By Type
11. Global Polyurea Coating Market Analysis By Isocyanate Type
11.1. Introduction
11.1.1. Market Value Share Analysis By Isocyanate Type
11.1.2. Y-o-Y Growth Analysis By Isocyanate Type
11.2. Historical Market Size and Volume Analysis By Isocyanate Type 2018 to 2022
11.3. Market Size and Volume Forecast By Isocyanate Type 2023 to 2033
11.3.1. Aromatic
11.3.2. Aliphatic
11.4. Market Attractiveness Analysis By Isocyanate Type
12. Global Polyurea Coating Market Analysis By Application
12.1. Introduction
12.1.1. Market Value Share Analysis By Application
12.1.2. Y-o-Y Growth Analysis By Application
12.2. Historical Market Size and Volume Analysis By Application 2018 to 2022
12.3. Market Size and Volume Forecast By Application 2023 to 2033
12.3.1. Building & Construction
12.3.1.1. Roof
12.3.1.2. Wall
12.3.1.3. Floor
12.3.1.4. Bridges
12.3.1.5. Others
12.3.2. Industrial
12.3.2.1. Pipes
12.3.2.2. Containment Tanks
12.3.2.3. Equipment & Machinery
12.3.3. Automotive & Transportation
12.3.4. Others
12.4. Market Attractiveness Analysis By Application
13. Global Polyurea Coating Market Analysis By Region
13.1. Introduction
13.1.1. Market Value Share Analysis By Region
13.1.2. Y-o-Y Growth Analysis By Region
13.2. Historical Market Size and Volume Analysis By Region 2018 to 2022
13.3. Market Size and Volume Forecast By Region 2023 to 2033
13.3.1. North America
13.3.2. Europe
13.3.3. Middle East and Africa
13.3.4. East Asia
13.3.5. South Asia
13.3.6. Oceania
13.3.7. Latin America
13.4. Market Attractiveness Analysis By Region
14. North America Polyurea Coating Market Analysis
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size and Volume Analysis By Market Segments, 2018 to 2022
14.4. Market Size and Volume Forecast By Market Segments, 2023 to 2033
14.4.1. By Country
14.4.1.1. The United States
14.4.1.2. Canada
14.4.2. By Type
14.4.3. By Isocyanate Type
14.4.4. By Application
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Type
14.5.3. By Isocyanate Type
14.5.4. By Application
15. Latin America Polyurea Coating Market Analysis
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size and Volume Analysis By Market Segments, 2018 to 2022
15.4. Market Size and Volume Forecast By Market Segments, 2023 to 2033
15.4.1. By Country
15.4.1.1. Brazil
15.4.1.2. Mexico
15.4.1.3. Rest of Latin America
15.4.2. By Type
15.4.3. By Isocyanate Type
15.4.4. By Application
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Type
15.5.3. By Isocyanate Type
15.5.4. By Application
16. Europe Polyurea Coating Market Analysis
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size and Volume Analysis By Market Segments, 2018 to 2022
16.4. Market Size and Volume Forecast By Market Segments, 2023 to 2033
16.4.1. By Country
16.4.1.1. Germany
16.4.1.2. Italy
16.4.1.3. France
16.4.1.4. The United Kingdom
16.4.1.5. Spain
16.4.1.6. BENELUX
16.4.1.7. Russia
16.4.1.8. Rest of Europe
16.4.2. By Type
16.4.3. By Isocyanate Type
16.4.4. By Application
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Type
16.5.3. By Isocyanate Type
16.5.4. By Application
17. South Asia Polyurea Coating Market Analysis
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size and Volume Analysis By Market Segments, 2018 to 2022
17.4. Market Size and Volume Forecast By Market Segments, 2023 to 2033
17.4.1. By Country
17.4.1.1. India
17.4.1.2. Thailand
17.4.1.3. Malaysia
17.4.1.4. Philippines
17.4.1.5. Rest of South Asia
17.4.2. By Type
17.4.3. By Isocyanate Type
17.4.4. By Application
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Type
17.5.3. By Isocyanate Type
17.5.4. By Application
18. East Asia Polyurea Coating Market Analysis
18.1. Introduction
18.2. Pricing Analysis
18.3. Historical Market Size and Volume Analysis By Market Segments, 2018 to 2022
18.4. Market Size and Volume Forecast By Market Segments, 2023 to 2033
18.4.1. By Country
18.4.1.1. China
18.4.1.2. Japan
18.4.1.3. South Korea
18.4.2. By Type
18.4.3. By Isocyanate Type
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Type
18.5.3. By Isocyanate Type
19. Oceania Polyurea Coating Market Analysis
19.1. Introduction
19.2. Pricing Analysis
19.3. Historical Market Size and Volume Analysis By Market Segments, 2018 to 2022
19.4. Market Size and Volume Forecast By Market Segments, 2023 to 2033
19.4.1. By Country
19.4.1.1. Australia
19.4.1.2. New Zealand
19.4.2. By Type
19.4.3. By Isocyanate Type
19.4.4. By Application
19.5. Market Attractiveness Analysis
19.5.1. By Country
19.5.2. By Type
19.5.3. By Isocyanate Type
19.5.4. By Application
20. Middle East and Africa (Middle East and Africa) Polyurea Coating Market Analysis
20.1. Introduction
20.2. Pricing Analysis
20.3. Historical Market Size and Volume Analysis By Market Segments, 2018 to 2022
20.4. Market Size and Volume Forecast By Market Segments, 2023 to 2033
20.4.1. By Country
20.4.1.1. GCC Countries
20.4.1.2. Turkey
20.4.1.3. South Africa
20.4.1.4. Rest of Middle East and Africa
20.4.2. By Type
20.4.3. By Isocyanate Type
20.4.4. By Application
20.5. Market Attractiveness Analysis
20.5.1. By Country
20.5.2. By Type
20.5.3. By Isocyanate Type
20.5.4. By Application
21. Emerging Countries Analysis
21.1. Introduction
21.1.1. Market Proportion Analysis
21.1.2. Global Vs. Country Growth Comparison
21.2. China Market Analysis
21.2.1. PEST Analysis
21.2.2. Market Proportion Analysis By Market Taxonomy
21.2.3. China Market Volume Analysis By Market Taxonomy
21.2.3.1. By Type
21.2.3.2. By Isocyanate Type
21.2.3.3. By Application
21.2.4. China Market Value (US$ million) Analysis By Market Taxonomy
21.2.4.1. By Type
21.2.4.2. By Isocyanate Type
21.2.4.3. By Application
21.3. India Market Analysis
21.3.1. PEST Analysis
21.3.2. Market Proportion Analysis By Market Taxonomy
21.3.3. India Market Volume Analysis By Market Taxonomy
21.3.3.1. By Type
21.3.3.2. By Isocyanate Type
21.3.3.3. By Application
21.3.4. India Market Value (US$ million) Analysis By Market Taxonomy
21.3.4.1. By Type
21.3.4.2. By Isocyanate Type
21.3.4.3. By Application
21.4. Brazil Market Analysis
21.4.1. PEST Analysis
21.4.2. Market Proportion Analysis By Market Taxonomy
21.4.3. Brazil Market Volume Analysis By Market Taxonomy
21.4.3.1. By Type
21.4.3.2. By Isocyanate Type
21.4.3.3. By Application
21.4.4. Brazil Market Value (US$ million) Analysis By Market Taxonomy
21.4.4.1. By Type
21.4.4.2. By Isocyanate Type
21.4.4.3. By Application
22. Competition Analysis
22.1. Market Structure Analysis
22.2. Competition Dashboard
22.3. List of Manufacturers
22.4. Global Intensity Mapping
22.5. Company Profile
22.5.1. BASF SE
22.5.2. Sherwin-Williams Company
22.5.3. PPG Industries Inc.
22.5.4. Teknos Group
22.5.5. Huntsman Corporation
22.5.6. Covestro AG
22.5.7. DowDuPont Inc.
22.5.8. Pidilite Industries Ltd.
22.5.9. Versaflex Inc.
22.5.10. Rhino Linings Corporation
22.5.11. Nukote Coating Systems
22.5.12. Marvel Industrial Coatings LLC
23. Assumption & Acronyms
24. Research Methodology
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Polyurea Coatings Market
