Market Size of Polyurea Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Polyurea Coatings Market Analysis
The polyurea coatings market is projected to register a CAGR of more than 8% during the forecast period (2021-2026).
The market has been negatively impacted by the COVID-19 pandemic due to nationwide lockdowns, strict social distancing measures, and disruption in supply chains. Most of the industries and factories were shut down, which led to a slow down of the building and construction sector, which, in turn, negatively affected the market demand for polyurea coatings. Over 65% of companies in the construction ecosystem have been severely affected by the prolonged construction inactivity, thus, having a negative impact on the market studied.
- Over the medium term, the major factors driving the polyurea coatings market are the growing demand from the construction industry and the adoption of regulations in VOC emissions.
- On the flip side, factors such as poor color stability on exposure to UV light and unfavorable conditions arising due to the COVID-19 outbreak are likely expected to hinder the market growth of the market.
- The building and construction industry is expected to dominate the global polyurea coatings market over the forecast period.
- The Asia-Pacific region is expected to be the fastest-growing market over the forecast period, owing to the growing consumption from emerging economies such as China and India.
