Global Polyurea Market to Reach US$1.2 Billion by the Year 2026

Polyurea basically is a synthetic elastomer created when a diisocyanate reacts with a diamine. Polyurea products are used in the form of lining solutions, coatings and sealants for ensuring pigment compatibility, higher thermal stability, faster curing time and higher water sensitivity. The product is widely used in building construction, transportation, mining, automotive manufacturing and such other major domains. Growth in the global market is led by the fast rising demand for spray based elastomeric coatings in the construction and automotive end-use industries where the property of faster curing time offered by the product is critical. In residential construction, importance of use of waterproof membrane has been increasing significantly. In both mining and construction sectors use of lining systems had increased, for environmental protection. Government regulations governing emissions of VOCs by the construction industry are encouraging users to procure and use polyurea linings. This factor is anticipated to create strong demand growth scenario for the market. Demand is also surging for polyurea used as adhesive in the automotive manufacturing industry where it is replacing metal fasteners for reducing overall weight of cars for improved fuel efficiency.

Amid the COVID-19 crisis, the global market for Polyurea estimated at US$844 Million in the year 2020, is projected to reach a revised size of US$1.2 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Aromatic, one of the segments analyzed in the report, is projected to grow at a 6.4% CAGR to reach US$813 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Aliphatic segment is readjusted to a revised 4.7% CAGR for the next 7-year period. This segment currently accounts for a 37.6% share of the global Polyurea market. Aromatic polyureas find extensive applications across industries owing to their desirable physical properties that make them suitable for diverse uses. Polyurea obtained from aliphatic diisocyanates can be resistant to color change on account of exposure to sunlight and maintain their physical characteristics even during exposure to UV rays. They are preferred for application outdoors as they can improve aesthetic appeal with a glossy appearance and can be used at about 30 mils of film thickness.

The U.S. Market is Estimated at $289.2 Million in 2021, While China is Forecast to Reach $169.8 Million by 2026

The Polyurea market in the U.S. is estimated at US$289.2 Million in the year 2021. The country currently accounts for a 33.18% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$169.8 Million in the year 2026 trailing a CAGR of 7.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR while Rest of European market (as defined in the study) will reach US$182.9 Million by the end of the analysis period. The Asia-pacific market is anticipated to witness strong growth in demand for polyurea based products, driven by the factor of increasing incomes of people. Consumers here are appreciating the significance of quality life which is leading to increased public spending on infrastructure projects like bridges, roads, shipping ports and airports, which is anticipated to increase demand for polyurea products, including linings and coatings, considerably over the coming years. Europe is also a major market for polyurea. Several European authorities sanction use of roofing membranes made of polyurea for waterproofing application because of its ecological and resistive properties.