Polyurea Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The report covers Global Polyurea Market Size and it is Segmented by Chemical Structure (Aromatic and Aliphatic), Type (Hot Polyurea and Cold Polyurea), Product (Lining, Coating, and Sealant), End-user Industry (Construction, Paints and Coating, Automotive, Industrial, Marine, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

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Polyurea Market Size

polyurea market size
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR > 6.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

polyurea market major players

*Disclaimer: Major Players sorted in no particular order
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Polyurea Market Analysis

The polyurea market is expected to register a CAGR of over 6% during the forecast period. One of the main factors driving the market is the growing demand for polyurea from the construction industry. However, Volatility in the raw material price of polyurea is expected to hinder the growth of the market studied.

  • By application, polyurea from the construction industry is expected to dominate the market over the forecast period.
  • The increasing use of polyurea in the food industry and drinking water application is likely to act as an opportunity for the market studied in the coming years.
  • The Asia-Pacific region is expected to dominate the market with the largest consumption from countries, such as China and India.

Polyurea Market Trends

This section covers the major market trends shaping the Polyurea Market according to our research experts:

Growing Demand for Polyurea from the Construction Industry

  • Polyurea is a kind of elastomer that is resulted from the reaction product of an isocyanate component and synthetic resin blend through advanced development polymerization.
  • Polyurea is ideal for protecting pipes and pipelines against corrosion and external influences and can be applied to both steel and polyurethane foam, which is the thermal insulation of the pipeline.
  • The ability of polyurea to insulate both steel and concrete and high durability allows to secure structures without the need for renovation for many years.
  • The increasing focus on infrastructure and customization in construction and manufacturing processes had a significant impact on the growing demand of polyurea in the construction industry.
  • Hence, owing to the above-mentioned factors, the application of polyurea from the construction industry is likely to dominate during the forecast period.
polyurea market trends

The Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market for polyurea during the forecast period. The rising demand for polyurea, along with the growing population and construction activities in developing countries, like China and India, is expected to drive the demand for polyurea in this region.
  • The largest producers of polyurea are located in the Asia-Pacific region. Some of the leading companies in the production of polyurea are BASF SE, Covestro AG, Huntsman International LLC, Rhino Linings Corporation, and Speciality Products Inc., among others.
  • The Indian government aims to make automobile manufacturing the main driver of 'Make in India' initiative, as it expects the passenger vehicles market to triple to 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-2026.
  • According to Global Construction 2030 (published by Global Construction Perspectives and Oxford Economics), Southeast Asia's construction market is anticipated to exceed USD 1.0 trillion, by 2030 which in turn boosts the demand for polyurea.
  • Owing to the above-mentioned factors, the market for polyurea in the Asia-Pacific region is projected to grow significantly during the study period.
polyurea market size

Polyurea Industry Overview

The global polyurea market is partially consolidated in nature with only few major players dominating the market. Some of the major companies are BASF SE, Covestro AG, Huntsman International LLC, Rhino Linings Corporation, and Speciality Products Inc., among others.

Polyurea Market Leaders

  1. BASF SE

  2. Huntsman International LLC

  3. Covestro AG

  4. Rhino Linings Corporation

  5. Speciality Products Inc.

*Disclaimer: Major Players sorted in no particular order

BASF SE, Covestro AG, Huntsman International LLC, Rhino Linings Corporation, and Speciality Products Inc.,

Polyurea Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand of Polyurea from Construction Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Volatility in Raw Material Price

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Chemical Structure

      1. 5.1.1 Aromatic

      2. 5.1.2 Aliphatic

    2. 5.2 Type

      1. 5.2.1 Hot Polyurea

      2. 5.2.2 Cold Polyurea

    3. 5.3 Product

      1. 5.3.1 Lining

      2. 5.3.2 Coating

      3. 5.3.3 Sealants

    4. 5.4 End-user Industry

      1. 5.4.1 Construction

      2. 5.4.2 Paints and Coatings

      3. 5.4.3 Automotive

      4. 5.4.4 Industrial

      5. 5.4.5 Maritime

      6. 5.4.6 Others

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. 5.5.1.1 China

        2. 5.5.1.2 India

        3. 5.5.1.3 Japan

        4. 5.5.1.4 South Korea

        5. 5.5.1.5 Rest of Asia-Pacific

      2. 5.5.2 North America

        1. 5.5.2.1 United States

        2. 5.5.2.2 Canada

        3. 5.5.2.3 Mexico

      3. 5.5.3 Europe

        1. 5.5.3.1 Germany

        2. 5.5.3.2 United Kingdom

        3. 5.5.3.3 France

        4. 5.5.3.4 Italy

        5. 5.5.3.5 Rest of Europe

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle-East and Africa

        1. 5.5.5.1 Saudi Arabia

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Huntsman International LLC

      2. 6.4.2 Teknos Group

      3. 6.4.3 Covestro AG

      4. 6.4.4 Green Energy

      5. 6.4.5 Lonza

      6. 6.4.6 Hydromer

      7. 6.4.7 SATYEN POLYMERS PVT. LTD

      8. 6.4.8 Rhino Linings Corporation

      9. 6.4.9 Dorf Ketal

      10. 6.4.10 Speciality Products Inc.

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Use of Polyurea in Food Industry and Drinking Water Application

    2. 7.2 Other Opportunities

**Subject to Availability

Polyurea Industry Segmentation

The polyurea market report includes:

Chemical Structure
Aromatic
Aliphatic
Type
Hot Polyurea
Cold Polyurea
Product
Lining
Coating
Sealants
End-user Industry
Construction
Paints and Coatings
Automotive
Industrial
Maritime
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Polyurea Market Research FAQs

The Polyurea Market is projected to register a CAGR of greater than 6% during the forecast period (2023-2028).

BASF SE, Huntsman International LLC, Covestro AG, Rhino Linings Corporation and Speciality Products Inc. are the major companies operating in the Polyurea Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia Pacific accounts for the largest market share in the Polyurea Market.

Polyurea Industry Report

Statistics for the 2023 Polyurea market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Polyurea analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Polyurea Market Report Snapshots

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