Polyurea Market Is Projected To Be Around $1.40 Billion By 2022
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A research study titled, “Polyurea Market by target audience, type, raw material and technology - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Polyurea Market is projected to be around $1.40 billion by 2022.
The global Polyurea market was worth USD 0.87 billion in the year of 2014 and is expected to reach approximately USD 1.40 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 5.39% during the forecast period. Polyurea is a kind of elastomer that is retrieved from gotten from the response result of an isocyanate segment and an engineered sap mix component through stride development polymerization. This can be aliphatic or aromatic in nature. It can be monomer, polymer, or any variation response of isocyanates, semi prepolymer or a prepolymer. The semi prepolymer or prepolymer can be composed of a hydroxyl-terminated polymer resin or an amine-terminated polymer resin. The resin mixture may be composed of amine-terminated polymer resins or amine-terminated chain extenders. Any hydroxyls are the consequence of inadequate change to the amine-ended polymer resins. This resin mixture may also consist of additives or secondary components.
Polyurea is use in various applications that incorporate transportation and construction because of its exceptional highlights like high thermal security, quick curing time, exceptional water obtuseness and pigment similarity which is one the major factors that boosts the growth of this market. The extensive usage of this polymer in the manufacturing of sealants, adhesives, lining systems and coatings is anticipated to bolster the demand of the product. The rising use of defensive coatings in the construction and automotive segment inferable from high solidness and rust avoidance is foreseen to build the use of polyurea. It is utilized in adhesives and sealants due to its excellent adhesion characteristics on platforms like wood blasted steel, concrete and bitumen. Rising requirement of sealants and adhesives as bonding agents in the construction and automotive industry is expected to have a significant impact on the growth of this market.
On the basis of target audience the global polyurea market is segmented into Traders, Distributors, and Suppliers of Polyurea Coating, Raw Material Suppliers, Manufacturers of Polyurea Coatings, Government & Regional Agencies and Research Organizations and Investment Research Firm. On the basis of type the market is segmented into Pure Polyurea and Hybrid Polyurea. On the basis of raw material the market is segmented into Aromatic Isocyanate and Aliphatic Isocyanate. On the basis of technology the market is segmented into Transportation, Industrial, Landscape, Building & Construction. The major industries in the global Polyurea market are BASF, Specialty Products, Inc., VersaFlex Inc., SWD Polyurethane, Nukote Coating Systems International, LineX Protective Coatings and PPG Industries. Geographically, the market is segmented into Europe, North America, Asia Pacific and Rest of the world.
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Key findings of the Polyurea market
- In 2014 the global polyurea market was valued 114.3 kilo tons and is expected to witness significant growth in the upcoming years. Improved material qualities and expanding mindfulness relating to its application are anticipated to drive worldwide polyurea market development over the estimate time frame.
- The global polyurea based sealants and adhesives market was worth 11.3 kilo tons in 2014. Developing use of adhesive as an alternative to metal clasp in vehicles for lessening the general auto weight to enhance fuel proficiency is anticipated to play a vital part in boosting market development.
- The United States coatings market is anticipated to observe significant growth in the following years. Profits in car industry of the U.S. because of expanding domestic utilization of four-wheelers, especially SUVs is relied upon to advance the use of coatings and along these lines prone to increase development.
- In 2014 the Asia Pacific polyurea market was worth USD 157.1 million. Enhancement in construction sector of India and China by virtue of rising government expenditure towards infrastructure change as a piece of twelfth Five Year Plan is required to fuel request.