A LOOK AT THE GLOBAL POLYUREA MARKET & THE TOP POLYUREA MANUFACTURERS
ADVANTAGES OF POLYUREA COATINGS & WHY FINDING
THE TOP POLYUREA MANUFACTURERS IS VITAL
OVERVIEW OF THE
POLYUREA MANUFACTURING
MARKET
The global polyurea market is segmented based on:
- Raw materials used to produce the product
- Major polyurea producers and competitive strategy
- Geographic regions
- End-user application segments
- Application technology
We will examine each of these in more detail in the following sections.
RAW MATERIALS USED TO PRODUCE POLYUREA
Aromatic isocyanate-based polyurea products dominate the market due to their superior corrosion and abrasion resistance. They are ideal for coating boat hulls, marine applications, building floors, wall construction, and machinery. The page “Marine Applications” provides more information on polyurea in marine environments.
Aromatic isocyanate can lead to color and shine deterioration due to UV exposure, whereas aliphatic polyurea is preferred for applications requiring color stability.
Application TECHNOLOGY
The progress in spray technology has driven the acceptance of polyurea as a favored coating option. This shift has gradually phased out epoxy coatings in favor of polyurea spray coatings. One major benefit of using a spray system is the boost in application speed, which results in faster project completion times. Moreover, the rapid curing time of polyurea spray coatings is an advantage, enabling downtime and faster resumption of services.
Geographic Regions
Polyurea markets are broadly categorized into the following regions:
- North American
- European
- Asia Pacific
- The Middle East and African
- South American
North America holds the share of the market at 35%, surpassing Asia Pacific (30%), Europe (20%), and the Middle East and Africa (10%). The Asia Pacific area in developing nations, like Malaysia, Vietnam, Indonesia, Taiwan, China, and India, is projected to experience rapid growth. Certain countries in this region enjoy advantages such as lower labor expenses, access to materials, tax benefits, and more relaxed environmental regulations.
End-User (Applications) Segments
End users are divided into the following classifications:
- Building, housing, and general construction
- Transportation
- Marine (boats, ships, ocean liners)
- Oil and gas
- Infrastructure
- Industrial
The growing demand for building construction and housing, driven by urbanization, is expected to lead to market growth for polyurea products. South American countries and the emerging economies of the Asia Pacific region are investing in construction projects, causing increased demand for polyurea coatings.
The transportation sector is driving the increasing demand for polyurea based on aromatic isocyanate, as people prefer individual vehicles over public transportation due to the Covid-19 pandemic.
Type of Product (Pure Polyurea versus Hybrid Polyurea- Polyurethane)
Pure polyurea boasts improved resistance to moisture and temperature, whereas hybrid polyurea excels in adhering to metal surfaces. Hybrid polyurea also offers durability against abrasion. It is favored for specialized uses like construction equipment. Moreover, hybrid polyurea is a budget option compared to pure polyurea and is anticipated to secure a notable portion of the worldwide market demand.
Major Polyurea Producers and Competitive Strategy
Some of the leading polyurea manufacturers and solution providers include:
- BASF, Teknos and Voelkel Industrial products, GmBH (VIP)
- Kukdo Chemical Co Ltd, Covastro, Huntsman International
- PPG Industries, Sherwin-Williams
- Rhino Linings Corporation, Wasser Corporation
- Armothane Inc, Versa Flex Inc, Nucoat Coating Systems
Customers face technical barriers when switching suppliers due to the importance of after-sale technical services. Global polyurea brands rely on product innovations and quality control. Major players focus on developing tailored polyurea formulations for unique customer challenges.
WHY DEMAND FOR POLYUREA IS EXPECTED TO GROW
Demand is expected to increase for various reasons, as explored below.
Growth in Building and Infrastructure Construction
The building construction segment is expected to drive global demand, with Asia Pacific’s polyurea demand growing rapidly and reaching a volume comparable to North America.
In North America, polyurea is commonly used for waterproofing infrastructure like bridges, parking decks, and corrosion prevention coatings for pipelines and roadways.
Polyurea is used as a waterproofing film to protect bridge structures that need maintenance. Demand continues to grow as more bridges are added to the list of secondary structures. The United States has over 612,000 bridges, and an estimated one-third require repair or replacement. The remaining bridges may also need thorough inspection, repair, or replacement.
In 2015, United States and China consumed 27.91% and 15.92% of global polyurea, respectively, with Europe also being a major consumer. The demand for polyurea coatings in these regions is driven by building construction, bridge and infrastructure waterproofing, and the transportation sector.
The polyurea market is projected to grow from $1.1 billion to $1.485 billion, with a 10% CAGR. The growth is driven by expanding infrastructure, maintenance, construction, landscaping, railroad transportation, and other industries.
Regulatory Factors
Buyers now prefer eco-friendly polyurea coating products with no volatile organic compounds (VOCs) due to regulatory requirements and growing environmental awareness. Global polyurea manufacturers offer high-quality, durable, and cost-effective products, leading to a shift in buyer preference.
Technological
Developments
Polyurea is being used widely, thanks to progress. Even though the raw materials can be pricey, polyurea systems are considered cost-efficient because they cure quickly and offer top-notch qualities. In some cases, polyurea is the only option available. Furthermore, polyurea coatings do not contain volatile organic compounds (VOCs), ensuring they meet regulatory standards.
Population Trends
The growth of populations in tier-2 and tier-3 cities worldwide is driving the demand for polyurea coatings due to increased urban infrastructure requirements and higher demand for petroleum products and shipping.
New polyurea systems are expected to achieve double-digit growth rates by replacing competing coatings like epoxy systems. They cure quickly and tolerate variable conditions, with new applications continuously emerging.
ADVANTAGES OF POLYUREA
Polyurea coatings offer superior surface strength, water repellent qualities, high tensile load capacity, chemical inertness, and flexibility in design. They also allow for the use of fibers for reinforcement.
FACTORS INHIBITING POLYUREA DEMAND
Polyurea coatings may have a higher initial cost, but their effectiveness and durability make them cost-effective. The Covid-19 pandemic has disrupted polyurea supply chains and manufacturing, impacting market demand. However, ArmorThane customers are experiencing minimal supply chain disruptions.
FACTORS INCREASING POLYUREA DEMAND
The demand for polyurea coatings is steadily increasing, making it the future of protective coatings.
Conclusion
The demand for polyurea is steadily increasing as new applications and infrastructure spending in emerging economies drive the need for polyurea coatings. The increasing populations in tier-2 and tier-3 cities are leading to a construction boom, further boosting the demand for polyurea coatings and linings.
