Jan 19, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Polyaspartic Coatings Market.
It was estimated prior to this unanticipated outbreak that the Polyaspartic Coatings Market is likely to witness an impressive CAGR of 7.5% during the forecast period. The major factor contributing to the demand for polyaspartic coatings is mainly the increasing usage of polyaspartic esters in various end-use applications, such as industrial, building & construction, and transportation, by simple manipulation. Further, polyaspartic coatings cure quicker than other coating systems, such as epoxy and polyurethane. All these factors are driving the growth of the polyaspartic coatings market.
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Polyaspartic coatings are the protective layers of aliphatic polyurea, which are applied to metal or concrete floor surfaces, by spraying, painting or plastering. These coatings are hard and tough, which enhance the protection capability, by preventing corrosion and erosion.
The polyaspartic coatings can be easily formulated for different applications at temperatures below freezing. These coatings are used for bridges, flooring, OEM coatings, automotive repair, wind turbines, and pipelines in the oil & gas industry, among others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as pure polyurea and hybrid polyurea. The hybrid polyurea segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. Hybrid polyurea is a combination of polyamine, polyol, and isocyanate. It possesses various properties such as resistance from high abrasion and adhesion to metal and concrete structures. Further, these hybrid polyaspartic coatings are used in various applications such as building & construction, transportation, industrial, and power generation.
Based on the end-use industry type, the polyaspartic coatings market is segmented as building & construction, transportation, industrial, power generation, and landscape. The building & construction industry segment is expected to be the fastest-growing segment during the forecast period. There are various applications in which these coatings are used such as bridge construction, floor & roof coating, caulks, joint fill, parking decks, concrete repair, and structural bonds. These coatings are used as topcoats, stone carpets, sealants, and waterproofing in these applications.
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing polyaspartic coatings market during the forecast period, with China, Australia, Malaysia, and Indonesia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as building & construction, transportation, industrial, and power generation, which is generating huge demand for polyaspartic coatings and the presence of a large number of polyaspartic coating manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key players operating in the global Polyaspartic Coatings market are-
- Covestro AG
- The Sherwin-Williams Company
- PPG Industries, Inc.
- BASF SE
- AkzoNobel N.V.
- Hempel Group.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Polyaspartic Coatings analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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