Global Polyurea Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Polyurea Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Polyurea is a type of elastomer that is derived from the reaction product of an isocyanate component and a synthetic resin blend component through step-growth polymerization. The isocyanate can be aromatic or aliphatic in nature. It can be monomer, polymer, or any variant reaction of isocyanates, quasi-prepolymer or a prepolymer. The prepolymer, or quasi-prepolymer, can be made of an amine-terminated polymer resin, or a hydroxyl-terminated polymer resin.

Market Overview:

The latest research study on the global Polyurea market finds that the global Polyurea market reached a value of USD 1276.75 million in 2022. It’s expected that the market will achieve USD 1751.68 million by 2028, exhibiting a CAGR of 5.41% during the forecast period.

Comprehensive impact

Due to the global epidemic of the new coronavirus, it has affected the development of all walks of life, including the polyurea market. Due to the promulgation of social isolation policies in various countries, people were restricted to their homes and many factories were shut down. The production of polyurea products was also affected by the shutdown. Downstream automobile, construction, and industrial production also stagnate and reduce the demand for polyurea products. Therefore, this epidemic has certain restrictions on the development of the polyurea market, and the future development and control of the epidemic will also have an impact on the polyurea market.

Environmental regulations

As people pay more and more attention to environmental issues, governments of various countries have successively promulgated strict environmental protection regulations. Among them, the use of lining systems for environmental protection in practice, including landfill control, is expected to increase the demand for polyurea, which will promote the development of the polyurea market...

Excellent performance

It is used in many applications due to its unique properties including fast curing time, high thermal stability, pigment compatibility and excellent water insensitivity. These excellent properties have promoted the use of polyurea in various industries, and the demand is constantly expanding.
Polyurea is added to adhesive and sealant formulations due to its excellent adhesion to clean substrates such as wood, concrete, asphalt and sandblasted steel. Because of their high chemical resistance to liquids and fast drying surface treatment properties, polyureas can be used in landfills and waterproof systems. Due to good properties, such as corrosion protection, wear resistance, waterproofing and structural enhancement, coating formulations can be used in the construction, automotive and healthcare industries. Due to its good crack bridging properties and high elongation and tensile strength, it is also used as expansion joints, control joints, joint fillers and sealing materials in floors and water storage tanks.

Region Overview:

Asia Pacific is projected to account for a considerable share of the Polyurea market and is expected to become the largest region by 2028.

Company Overview:

BSF is one of the major players operating in the Polyurea market, holding a share of 9.87% in 2023.

BASF

BASF is a German chemical company and the second largest chemical producer in the world. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas and Africa. Its headquarters is located in Ludwigshafen, Germany. BASF has customers in over 190 countries and supplies products to a wide variety of industries.

Covestro

Covestro AG is a German company which produces specialty chemicals for heat insulation foams and transparent polycarbonate plastics. It is a Bayer spin off formed in the fall of 2015 and was formerly called Bayer MaterialScience, Bayer's $12.3 billion materials science division.The main industries served are automotive manufacturing and supply, electrical engineering and electronics, construction and home products, and sports and leisure. Their products include coatings and adhesives, polyurethanes that are used in thermal insulation, electrical housings, and as a component of footwear and mattresses, and polycarbonates such as Covestro's Makrolon, which are highly impact-resistant plastics.

Segmentation Overview:

Among different product types, Coatings segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Transportation segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Polyurea market covered in Chapter 3:

Huntsman
Feiyang Group
The Sherwin-Williams
Versaflex Incorporated
BASF
PPG Industries
POLYCOAT PRODUCTS
Jiangsu Langke
Yantai Huate Polyurethane Co., Ltd.
NATIONWIDE PROTECTIVE COATING
Nukote Coating Systems International
Covestro

In Chapter 4 and Chapter 14.2, on the basis of types, the Polyurea market from 2018 to 2029 is primarily split into:

Coatings
Linings
Sealants

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Polyurea market from 2018 to 2029 covers:

Industrial
Construction
Transportation
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)