NEW YORK, June 6, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the polyurea coatings market revenue was over $995.2 million in 2021, and it is likely to advance at an 11.0% CAGR during 2021-2030 and reach $2,553.5 million. Because of the rising ecological concerns and necessity for sustainable development, the polyurea technology plays a major part in the coatings sector, thus garnering high investment in R&D.
The automotive and transportation industry, in 2021, accounted for the second-largest share, of 25.7% in the polyurea coatings market. The use of these coatings is on the outsides of automobiles, such as two-wheelers and trucks. They are usually applied on the chassis, gearboxes, transmissions, engines, and driveshafts, as they deliver strong resistance to physical, external and thermal pressure.
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Germany, China, and Japan are the top producers of passenger automobiles. Consequently, the use of polyurea coatings has advanced significantly in these countries. Audi, Volkswagen, Opel, Mercedes, Porsche, and BMW are part of Germany's extremely competitive auto industry. This sector has a value of approximately $468.5 billion, which is about 20% of Germany's industrial output.
Most truck OEMs use spray-on protective coatings, which are not just striking but also offer lasting protection. These coatings deliver resistance to dynamic and static impact, rust, UV rays, and scratches. These benefits augment the appearance of substrates, while also keeping them safe from environmental and human forces for a long time with few resources. Polyurea coatings are usually used as a primer on vehicle chassis and as topcoats on the vehicle bodywork.
Regional Analysis of Polyurea Coatings Market
- The requirement for polyurea coatings will surge in the APAC region with an 11.9% CAGR in the coming years. The rapid economic growth and substantial investments by private and public companies in the automotive, maritime, building and construction, and manufacturing industries are pushing the demand for industrial coatings.
- The share of the polyurea coatings market in China was 25.4% of the total APAC revenue in 2021 because of the rampant development of the automotive, construction, and manufacturing sectors.
- Construction is the second-largest industry of India; therefore, it has an enormous impact on the nation's economy. Government programs, such as the PMAY, are mainly responsible for the growth of the industry.
- Similarly, Japan's automobile industry, which has manufacturers such as Toyota, Honda, Mazda, Nissan, Kawasaki, Mitsubishi, Subaru, and Yamaha, has a momentous monetary influence. The prospering Japanese vehicle sector is predicted to increase the need for coatings made of polyurea in the nation.
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In the worldwide polyurea coatings market, aromatic isocyanates had approximately 70% share in 2021. They comprise chemicals reacting with amine hydroxyl groups to produce polyurea coatings. Aromatic isocyanates are made from benzene and toluene. Methylenediphenyl disocyanate and toulenedisocyanate are the two prevalent aromatic isocyanates used in the construction and building industry.
Polyurea Coatings Market Segmentation Analysis
By Raw Material
- Aromatic
- Aliphatic
By Type
- Pure Polyurea
- Hybrid Polyurea
By Technology
- Spraying
- Pouring
- Hand-mixing
By Application
- Building and Construction
- Industrial
- Automotive and Transportation
- Others
Regional Outlook
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
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