Hybrid Polyurea Materials Market: Introduction
- Hybrid polyurea material is a combination of two coating systems: polyurea coatings and polyurethane coatings.
- Hybrid polyurea materials are utilized to coat concrete, metal parts, porous, stone as well as organic and inorganic materials. Hybrid polyurea materials offer various processing advantages such as reaction-free components of plasticizers and solvents, system can be managed on simple low and high pressure equipment at a mixing ratio 1:1, can be cured at room temperature`, and range of thicknesses from around 2 mm to 2 cm and can be manufactured in single step.
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Key Drivers of Hybrid Polyurea Materials Market
- Rising demand for advanced coating material and increasing adoption of protective coatings in construction and automotive applications owing to their durability and ability to provide protection against corrosion, is a major factor that is projected to drive the global hybrid polyurea materials market during the forecast period
- Polyurea hybrid materials are mixed with sealant formulations owing to their excellent adhesion with respect to clean substrates, including wood, bitumen, blasted steel, and concrete. Increasing end-use applications of sealants, as bonding agents, in construction and automotive industries is also projected to drive the global market in the near future.
- Increasing awareness among consumers regarding utilization of enhanced quality waterproofing coating in commercial and residential buildings is expected to boost the market. Moreover, increasing adoption of containment solutions in construction and mining sectors, owing to increase in focus on environmental protection activities, is projected to augment the demand for hybrid polyurea materials during the forecast period.
- Hybrid polyurea materials are majorly employed in construction and infrastructure development applications including commercial architecture, bridge construction, floor and roof coating, joint fill, caulks, parking decks, structural bonds, and concrete repair. Additionally, these materials are utilized to improve tensile and compressive strength, crack-bridging, waterproofing, providing chemical, corrosion- and water-resistance, as well as to enhance various other mechanical properties of structures.
- Rise in demand for hybrid polyurea materials in various industrial applications owing to their excellent physical properties is another key factor that is estimated to propel the global hybrid polyurea materials market. Hybrid polyurea coatings are being majorly used for applications in decks, parking, water treatment, and tanks, which in turn is projected to propel their demand during the forecast period.
- However, availability of low-cost coating substitutes, such as polyurethane and epoxy, is expected to restrain the market during the forecast period
Significant Opportunity in Construction Industry
- Based on type, the global hybrid polyurea materials market can be segmented into coating, sealant, and other. The coating segment is projected to hold a significant share of the market, in terms of revenue, owing to a rise in the demand for polyuria materials from automotive, building and construction, and transportation industries.
- Based on application, the global hybrid polyurea materials market can be divided into building & construction, transportation, industrial, and other (landscape, etc.)
- Increase in initiatives for development and renovation in the construction industry in various developing and developed countries is a major factor that is projected to drive the hybrid polyurea coatings market. Moreover, the transportation segment is projected to expand at a moderate growth rate during the forecast period, as these materials are majorly utilized in railcar linings, conveyor belt linings, and truck bed linings.
Asia Pacific to be a Key region for Hybrid Polyurea Materials Market
- In terms of region, the global hybrid polyurea materials market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, the hybrid polyurea materials market in Asia Pacific is expected to account for a major share of the global market for hybrid polyurea materials. Demand for hybrid polyurea material is increasing rapidly in automotive and transportation industries in countries across Asia Pacific. Hybrid polyurea coatings possess several features including high curing rate, moisture insensitive, applicability at varying temperatures, impermeability of membranes, excellent abrasion resistance, and high thickness buildup. These are driving the polyurea coatings market.
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Key Manufacturers Operating in Hybrid Polyurea Materials Market
- The global hybrid polyurea materials market was highly fragmented in 2018. Moreover, rapid expansion of construction and automotive industries across the global market is expected grow at substantial pace during the forecast period
- Moreover, several major players engage in significant research and development activities in order to enhance their product portfolio
Key manufacturers operating in the global market include:
- Specialty Products Inc.
- BASF SE
- VersaFlex Incorporated
- PPG Industries, Inc.
- Polycoat Products
- Krypton Chemical
- The Sherwin-Williams Company
- Kukdo Chemicals Co., Ltd.
- Wasser Corporation
- Rhino Linings Corporation
- SWD Urethane
- The China Paint MFG.Co.,(Shenzhen)Ltd
Global Hybrid Polyurea Materials Market: Research Scope
Global Hybrid Polyurea Materials Market, by Product Type
Global Hybrid Polyurea Materials Market, by End-user
- Building & Construction
- Other (Landscape, etc.)
Global Hybrid Polyurea Materials Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.