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Polyurea Market Expected To Grow At A Highest CAGR Over The Forecast Timeframe

Author : Rahul Varpe | Published Date : 2019-06-21 

Global Market Insights, Inc. added Polyurea Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Market over a longer period of time. 

Growth is primarily driven by the developing application segments such as construction and industrial uses. Infrastructural developments such as residential and commercial buildings, roads, bridges, parking lots, etc. will bolster the global polyurea market in the forecast timespan. China, U.S., India, and Japan construction market is expected to account for close to half of the overall USD 8 trillion construction market by 2030. Construction spending in Asia Pacific due to high number of government and non-government projects and its rising trend will drive the polyurea market size in the upcoming years.

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As reported in a new study by Global Market Insights, Inc. Polyurea market size could be in excess of USD 1.5 billion by 2022. Rapidly flourishing industrial environment and growing automotive industry of Asia Pacific will also support the overall polyurea market growth in the next few years. Industrial applications include waterproofing and corrosion resistance of pipelines, providing chemical and impact resistance to tanks and reservoirs, machineries, etc.

Another important driving factor for the global polyurea market will be the superior quality in comparison to epoxy coating. Higher durability and flexibility along with UV stability, high tensile strength, impact resistance, chemical and oil resistance, faster curing time, and easy application techniques gives the product an upper hand in the coating industry, and will boost global polyurea market up to 2022. The product is also environmentally safe, owing to its lower volatile organic compound (VOC) content. Polyurea coating provides good aesthetic quality to the floors, walls, and other surfaces by giving a glossy finishing and it will influence the global industry positively.

Polyurea market may be hindered due to low product variety on a commercial level and lack of marketing. Due to increasing commoditization, the product sustainability is weakened.

Polyurea coating is the leading product segment, with over USD 600 million in sales. These coatings find extensive application in the construction industry for waterproofing of rooftops, walls, and floors.

Polyurea applications have been segmented into construction, industrial, transportation, and others. Construction segment is the most significant application segment and had a volume share of over 40% of the global polyurea market size and generated more than USD 400 million.

Asia Pacific leads the global market based on increasing constructional activities and rapid industrialization. Global shift of the manufacturing sector towards Asia Pacific is expected to boost the global polyurea market, which generated over USD 350 million in the region. It will also be the fastest growing region, with the CAGR forecast to be around 7% up to 2022.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/163

Key market players include BASF SE, PPG Industries, Specialty Products Inc., Bayer (Covestro), and Huntsman Corp.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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