The global polyurea market is
expected to reach USD 936.7 million by 2022, according to a new report by Grand
View Research, Inc. Increasing importance of spray-based elastomeric coatings
in automotive and construction industries on account of providing fast cure
time is expected to remain a favorable factor for growth. In addition, rising
importance of waterproofing membrane in civil construction and residential
structures is expected to increase the use of sealing materials and thus likely
to fuel demand.
Growth of the automotive
industry in China, India and Mexico in light of new product launches along with
easy access of raw materials is expected to fuel the demand for polyurea
coatings. These coatings exhibit good rust prevention and excellent build-crack
resistance. Increasing demand for eco-friendly coatings in automotive industry
on account of rising concerns over greenhouse gas emissions is expected to
drive growth. Demand for the polymer in transportation applications is
anticipated to be 28.6 kilo tons by 2022.
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Research :
Further key findings from the report suggest:
·
Global polyurea market was 114.3 kilo tons
in 2014 and is expected to reach over 150 kilo tons by 2022. Enhanced material
characteristics and increasing awareness pertaining to its application are
expected to drive global polyurea market growth over the forecast period.
·
Aliphatic compounds are capable of
providing light stability along with exceptional UV protection. Manufacturers
use aliphatic compounds such as isophorone diisocyanate (IPDI) and
hexamethylene diisocyanate (HDI) for the production of finished products used
as coatings, sealants and lining materials. The global aliphatic demand is
expected to exceed 45 kilo tons by 2022.
·
Global polyurea based adhesives &
sealants market was 11.3 kilo tons in 2014. Growing application of adhesive as
a substitute to metal fastener in automobiles for reducing the overall car
weight to improve fuel efficiency is expected to play a crucial role in
accelerating market growth.
·
U.S. coatings market is expected to witness
growth at a CAGR of 4.6% from 2015 to 2022, in terms of revenue. Gains in
automotive industry of the U.S. on account of increasing domestic consumption
of four-wheelers, particularly SUVs is expected to promote the application of
coatings and thus likely to augment growth.
·
Asia Pacific polyureamarket was valued at
USD 157.1 million in 2014. Improvement in construction industry of China and
India on account of rising government spending towards infrastructure
improvement as a part of 12th Five Year Plan is expected to fuel demand.
·
Major market players include BASF, Bayer,
Huntsman, Versaflex, Specialty Products, Inc., Nukote and SWD Urethane. The
market is characterized by new product development and establishment of
strategic partnerships with buyers. In addition, positive outlook towards
automotive and construction industries in emerging economies including China
and India is expected to force manufacturers to establish strategic business
units in vicinity.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has
segmented the global polyurea market by raw material, product, application and
region:
Raw Material Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2012 - 2022)
·
Aromatic
·
Aliphatic
Product Outlook (Volume, Kilo Tons; Revenue, USD Million,
2012 - 2022)
·
Coating
·
Lining
·
Adhesives & Sealants
·
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2012 - 2022)
·
Construction
·
Industrial
·
Transportation
·
Others
·
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2012 - 2022)
·
North America
o U.S.
·
Europe
o Germany
·
Latin America
o Brazil
·
Asia Pacific
o China
·
MEA
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-polyurea-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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