The North America polyurea market size is anticipated to reach USD 484.8 million by 2025, expanding at a 5.0% CAGR during the forecast period, according to a new report published by Grand View Research, Inc. It is primarily driven by ascending construction, transportation, and industrial application of the product. Rapid infrastructure development in North America coupled with rise in industrial and automotive application is expected to positively impact the market growth.
Increasing expenditure on the usage of lining systems for environmental protection in practices, such as landfill control, on account of stringent regulations aimed at mitigating the adverse effects of pollution is expected to fuel the demand for polyurea. Product development and capacity expansion are found to be one of the most commonly adopted strategic initiatives by prominent market players to sustain the competition. The companies focus on extension of polyurea application fields by introducing new products, such as MDI prepolymers with low viscosity and NOC content.
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Polyurea is more advantageous than its substitutes such as polyurethane and epoxy. It is highly resistant to abrasion, crack, and water and has high cure speed, which makes it suitable for a variety of application. Furthermore, it can withstand several chemicals and helps prevent microbial growth in wall cavities. Development of automotive industry in countries, such as Mexico, India, and China, owing to new product launches along with easy availability of raw materials is expected to push the demand for polyurea over the forecast period. These coatings exhibit good rust deterrence as well as tremendous build crack resistance.
Pure polyurea coating is manufactured by a reaction between isocyanate amine terminated resins as well as chain extenders. They are the most preferred type owing to their various advantages which include fast drying time, insensitivity to atmospheric moisture, better abrasion resistance, excellent tensile strength, durability, and absence of volatile particles, among others. These type of coatings have been utilized in spray coatings over the past few years owing to their low sensitivity to humidity.
Further key findings from the study suggest:
- Pure polyurea type segment accounted for the prominent market share in terms of revenue in 2018 and is expected to witness below average CAGR over the forecast period
- Coatings product segment accounted for 64.97% of the North America polyurea market in terms of revenue in 2018 and is projected to expand at the maximum CAGR over the forecast period
- In 2018, U.S. accounted for the maximum revenue share, owing to ascending demand for the construction of cement and steel bridges in the country
- Improved material characteristics coupled with increasing awareness related to the product application is expected to drive the demand for polyurea over the forecast period
- Key players in the North America market include PPG Industries, Inc.; Nukote Coating Systems; SWD Urethane; LINE-X Protective Coatings; VersaFlex Incorporated; Covestro AG; BASF SE; and others
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Grand View Research has segmented the North America polyurea market on the basis of type, raw material, product, application and region:
North America Polyurea Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
North America Polyurea Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
North America Polyurea Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
North America Polyurea Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
North America Polyurea Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- North America
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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