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Global Polyaspartic Coatings Market Will Reach to USD 603 Million By 2025

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Update time : 2020-07-07 20:58:57
New York, NY, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Polyaspartic Coatings Market by Type (Pure Polyurea and Hybrid Polyurea), by Technology (Water-Borne, Solvent-Borne, and Powder Coatings), and by End-User (Building & Construction, Transportation, Infrastructure, Power Generation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global polyaspartic coatings market was USD 356 million in 2018 and is expected to reach around USD 603 million by 2025, at a CAGR of 7.8% between 2019 and 2025.
Polyaspartic is an aliphatic polyurea that is derived from an aliphatic polyisocyanate component reaction product and a polyaspartic ester element, which is a new diamine/amine functional coreactant of aliphatic polyisocyanate. Polyaspartic coatings are used in a wide variety of applications, such as metal coatings in bridge beams, railways, offshore marine items, etc. The global polyaspartic coatings market is projected to witness notable growth over the forecast time period, owing to the increasing applications of polyaspartic coatings in the building and construction industry. Polyaspartic coating is widely used as stone carpets, topcoats, sealants, and waterproofing. Moreover, the emerging applications of polyaspartic coatings in the marine industry, as these coatings provide excellent corrosion resistance and dry extremely fast, which are anticipated to further propel the polyaspartic coatings market globally.
The global polyaspartic coatings market is classified on the basis of type, technology, and end-user. The type segment includes pure polyurea and hybrid polyurea. Hybrid polyurea contributed the largest share to the global polyaspartic coatings market in 2018 and is projected to maintain its growth in the upcoming years as well. This can be attributed to increased product usage in construction and automotive industries. Hybrid polyurea is a mixture of polyol, polyamine, and isocyanate, which has high adhesion to metal and concrete structures and abrasion resistance. Additionally, pure polyurea is projected to grow at the highest rate in the future.
Based on technology, the polyaspartic coatings market includes solvent-borne, water-borne, and powder coatings. Solvent-borne technology dominated the global polyaspartic coatings market in 2018. Water-borne technology is estimated to grow at the fastest rate over the upcoming years.
The end-user segment of the polyaspartic coatings market comprises transportation, building and construction, infrastructure, power generation, and others. The building and construction segment contributed the largest share to the global market in 2018 and is expected to register the fastest growth in the future.
The Asia Pacific is the largest contributor to the polyaspartic coatings market globally and is projected to continue its dominance in the future as well. This regional dominance is attributed to the rising polyaspartic coatings demand by automotive and construction industries in the developing countries of India, China, Indonesia, the Philippines, and Vietnam and growing investments infrastructural projects across the region.
Browse the full “Polyaspartic Coatings Market by Type (Pure Polyurea and Hybrid Polyurea), by Technology (Water-Borne, Solvent-Borne, and Powder Coatings), and by End-User (Building & Construction, Transportation, Infrastructure, Power Generation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/polyaspartic-coatings-market
The North American polyaspartic coatings market is predicted to grow significantly over the upcoming years, owing to the rising regional adoption of polyaspartic coatings due to stringent building legislation and growing focus on reducing VOC emissions. The U.S. dominated the polyaspartic coatings market in the region, due to continuous developments witnessed in the construction of green buildings equipped with energy saving systems and superior waterproofing products.
The European polyaspartic coatings market is projected to grow gradually, owing to the rising demand for polyaspartic coatings in the marine industry. The reduced drying time and corrosion resistant properties of polyaspartic coatings make it an ideal coating product for the marine industry. Additionally, the surging applications of polyaspartic coatings in the automotive industry are also projected to fuel the polyaspartic coatings market in the region.
The Latin American market is driven by rapid industrialization. Brazil is the major regional consumer of polyaspartic coatings, owing to the rising number of construction activities and the increasing use of polyaspartic coatings by the power generation industry. The corrosion protection for turbines with long service life and low maintenance demands is an important prerequisite, which is also fuelling the polyaspartic coatings market.
The Middle Eastern and African polyaspartic coatings market is predicted to grow moderately owing to the region’s flourishing transportation industry. Moreover, the rising of polyaspartic coatings demand in the construction industry is also expected to spur this market. The growing number of construction projects in the region is the key factor driving the polyaspartic coatings market in the region.
Some major players of the global polyaspartic coatings market are The Sherwin-Williams, BASF, Covestro, AkzoNobel, PPG Industries, Rust-Oleum, Hempel, Laticrete, VIP Coatings, SIKA,and Huisins Coatings.