The polyaspartic coatings market is expected to reach USD 718.2 Million by 2028, according to a new report by Reports and Data.
NEW YORK CITY, NY, UNITED STATES, September 27, 2021 /EINPresswire.com/ — The report studies the historical data of the Polyaspartic Coatings market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Polyaspartic Coatings industry based on the recent technological and research advancements. The market is propelled by factors to reach essential characteristics such as resistance to fast curing time, humidity, smooth surface finish, chemical & abrasion resistance, superior adhesion, and other mechanical & physical properties needed in several applications such as the transportation, building & construction, industrial, and power generation sectors.
Pure polyurea coating is the effect of chemical reaction of isocyanates and amine-terminated resins. Pure polyurea plays a crucial role in defining the characteristics of the final coated surface. It is applied where higher tensile strength, elongation, and abrasion protection are required. Pure polyurea is favored as an anti-corrosive in effluent treatment, sewage, bed liners in automotive, harsh surfaces in flooring, and has a life span of 15-20 years. The rise in demand for properties such as superior tensile strength, better abrasion resistance, better film quality, and moisture sensitivity is pushing the market.
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APAC is anticipated to witness the highest rate of 7.8% during the forecast period. Developing innovation & growth and increasing demand from the industrial sector for enhanced products are spurring the use of polyaspartic coatings. China is investing in residential and commercial construction to match the infrastructure demand of the increasing population, which in turn plays an essential role in accelerating the market in the country.
The Key players in the Polyaspartic Coatings Market include:
Akzonobel, The Sherwin-Williams Company, Covestro AG, SIKA AG, BASF SE, PPG Industries, Carboline, Hempel, Flexmar Coatings, Inc. Chromaflo Technologies Corporation, Neogard, and Polyval Coatings Inc.
Further key findings from the report suggest
The polyaspartic coatings market is estimated to reach USD 630.8 Million by 2026, at a CAGR of 7.0% during the forecast period.
China’s NDRC (transport ministry and National Development and Reform Commission) has proposed to invest USD 724 billion during the period 2016-2018 to build 303 key transportation projects, including highways, railways, airports, waterways, and urban rail.
Government of India has declared allocation of about USD 7.34 billion for the development of smart cities, across the country.
The hybrid polyurea accounts for a larger share of 62.8% of the market in 2018.
The building and construction application segment accounts for the largest share of 27.3% of the market in 2018.
The powder coatings technology is anticipated to witness the highest CAGR of 8.2% during the forecast period.
North America dominates the market with the largest share of 31.3% of the market in 2018. The market in this region is expected to dominate due to the thriving aerospace and defense industry on account of the growing production of aircrafts to meet global demand.
Various players are developing strategies to mark their presence in the industry.
The Sherwin-Williams Company is one of the principal producers of polyaspartic coatings and launched EnviroLastic, which has anti-microbial characteristics and can be applied to resist mildew, molds, and fungus in storage tanks and the food processing industry.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Type, Technology, Application, and region:
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Technology Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Building & Construction
Regional Outlook (Volume, Square Meters; and Revenue, USD Million ; 2018-2028)
Middle East & Africa
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Source: EIN Presswire