polyurea market size, analysis | industry report, 2022
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Polyurea Market 2015 – 2022
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Polyurea market size is expected to reach 249.6 kilo tons by 2022 growing at a CAGR of 4.8% from 2015 to 2022..
Increasing investments in infrastructure spending particularly in Asia Pacific is likely to drive polyurea market growth over the next seven years.
One of the key areas of application is in steel and concrete bridges. Since it has high tensile strength and elongation, it is well-suited for sealing cracks. It is a fast-set polymer; as a result, it can be used in pavement marking and line striping.
Asia Pacific is anticipated to lead the construction market and account for 39% of the total volume by 2018.
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Global Market Scenario of Polyurea Market
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Increasing industrial coatings demand is likely to positively influence polyurea market size. Its linings are flexible, waterproof and environmentally friendly in nature.
It is used by landscape designers, wherein it is applied over geotextiles for reinforcement. This results in higher preservation and reduced maintenance costs.
Superior advantages over other substitutes such as epoxy and polyurethane is likely to drive polyurea industry.
It can last indefinitely and has excellent elongation properties, 50 times that of Epoxy. As a result, it is highly crack resistant and suitable for a variety of applications.
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Europe polyurea market size, by raw material, 2012-2022 (KiloTons)
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Application Analysis
Construction applications led demand with market valuation of over USD 400 million in 2014. It serves as a joint-filling, sealing and caulking material which is applied in building joints, control joints and expansion joints in doors & panels, perimeter joints and masonry floors.
Regional Analysis
Asia Pacific polyurea market size was the dominant region with valuation of over USD 350 million in 2014 U.S. polyurea market share accounted for over 20% of the total demand in 2014 and is likely to grow at moderate rates with an estimated CAGR of over 4% up to 2022.
Competitive Market Share
The global polyurea market share is characterized by the presence of international and domestic industry participants. The market is likely to witness mergers & acquisitions and proceed towards consolidation. Key companies operating include Bayer MaterialScience (Covestro), Huntsman Corporation, BASF, Specialty Products, Inc., and PPG Industries.
360° Analysis
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