Polyurea Coatings Market - Global Industry Analysis and Forecast 2024
A
polyurea coating is formed by the reaction of a pre-polymer such as
methylene diphenyl di-isocyanate (MDI) or hexamethylene di-isocyanate
(HDI) with amine-terminated resins. Polyurea was developed in the 1980's
for the automotive industry and was originally used as a truck-bed
liner to form a lasting watertight layer. Polyurea coatings are now used
for a wide variety of applications in building & construction,
infrastructure, automotive, marine, and manufacturing industries.
Polyurea coatings are elastomeric in nature. It is a more advanced
technology than traditional coating technologies such as epoxy, vinyl
ester, PU, and polychloroprene. Polyurea coatings are applied on
infrastructure and building components such as tunnels, water reservoir
containers, pedestrian footpaths, floor coverings, and sewage pits.
Polyurea coatings are widely applied also on bridges, tanks, truck
linings, and secondary containments. Due to its excellent resistance to
hydrocarbons and corrosive gases, polyurea is employed as an industrial
coating for highly demanding applications in oil & gas and chemical
industries.
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Depending
upon the method of formulation and application of polyurea coatings,
different types of polyurea coatings can be formulated to attain an
extensive range of properties. These properties vary from high
elongation to high tensile strength and from a very hard material to a
soft one. Polyurea coatings have superior water resistance, abrasion
resistance, chemical resistance, durability, resistance to weathering,
corrosion resistance, and mechanical strength. These coatings can be
applied in a variety of designs and colors and they are available as
water-based formulations also. One of the key advantages of polyurea
coatings over other competing materials is their fast set
characteristics. Cure times for polyurea coatings usually range from a
few seconds to a few minutes as opposed to much longer cure times
required for traditional coatings. Low set time ensures that a facility
can be back in use without suffering revenue loss due to downtime.
Polyurea
coatings also form strong and durable bonds with different substrates
such as metals, concrete, ceramics, and wood. Properties of polyurea
coatings sustain over a wide temperature range and a variety of climatic
conditions. However, polyurea coatings have some drawbacks with the
most significant being higher cost of the material as compared to other
substitutes. Also, the application of polyurea coatings requires the use
of expensive equipment. However, polyurea coatings last substantially
longer than their substitutes and hence, they are more cost-effective
throughout the life of the coating.
The
global polyurea coatings market has witnessed rapid growth in the last
decade and this trend is likely to continue in the near future. The
building & construction industry is the leading consumer of polymer
coatings. Rapid industrialization and urbanization in several parts of
the world is likely to fuel the demand for polyurea coatings in the next
few years. Polyurea coatings are also employed extensively in the
industrial sector as protective coatings against corrosion. North
America is the leading consumer of polyurea coatings accounting for more
than 33% share of the global market. The ongoing recovery of the
construction sector in the U.S. as well as the renewed focus on
manufacturing in the country are factors likely to boost the demand for
polyurea coatings in North America. Europe also accounts for a
significant share of the plastic coatings market, owing to the rise in
demand from automobile manufacturers concentrated in the region.
Germany, the U.K., France, and Italy are the key consumers of polyurea
coatings in Europe. Demand for polyurea coatings is expected to surge in
Asia Pacific and the market in the region is expected to expand rapidly
in the near future. Rapid industrial growth and boom in the
construction sector in China are factors expected to provide high
opportunity to the polyurea coatings market in Asia Pacific in the next
few years. The polyurea coatings market in emerging economies such as
India, Thailand, and Malaysia is poised to expand at a significant rate
during the forecast period.
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Despite
the slowdown in the oil & gas industry, the outlook of the polyurea
market appears positive, due to increasing use of protective coatings
in the oil & gas industry; as companies are beginning to prefer
condition-based monitoring over the breakdown maintenance approach.
Brazil, Mexico, and South Africa are the other major countries for the
polyurea market.
Key
players operating in the global polyurea market are PPG Industries,
Nukote Coating Systems, Sherwin-Williams Company, VIP GmbH, Rhino
Linings, Kukdo Chemicals, Versaflex Inc., Specialty Products, Inc., and
Wasser Corporation.
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