Polyaspartic Coatings Market
Polyaspartic Coatings Market (Technology - Water, Solvent, and Powder; End-user - Construction (Residential, Commercial and Industrial), Transportation (Automotive and Rail Car), and Power Generation) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Global Polyaspartic Coatings Market: Key Highlights
- The global demand for polyaspartic Coatings stood nearly US$ 525 Mn in 2018 and is projected to reach over US$ 931 Mn by 2027. Increased awareness and a recovering construction industry are some of the factors improving the market scenario of polyaspartics globally. Thus, the polyaspartic coatings market expected to exhibit the highest growth rates over other coatings in the coatings market.
- Polyaspartic coatings are a comparatively new product type of in the paints & coating market, and is gaining momentum across world. The coating is usually occur as a 2-part system, and is derived by mixing resin with a catalyst in order to initiate a curing reaction that leads to hardening of the materials. This imparts high durability and hardness to the polyaspartic coating resins. Reduced drying times, greater film thickness, odourless, low colour values, long pot life and high compatibility with most surfaces makes these coatings superior to their counterparts such as epoxy, polyurethane etc.
- Easy availability of substitutes such as epoxy, polyurethane etc., volatility in raw material prices and low product awareness among consumer are some of the factors restraining the market.
- Rising research activities in field of high performance environmental friendly protective coatings for marine, automotive, and power generation industry expected to boost the water based polyaspartic coatings market.
To gauge the scope of customization in our reports Ask for a Sample
Global Polyaspartic Coatings Market: Segmental Insights
- Demand for water based segment expected to increase significantly over the forecast period due to its characteristic features such as low VOC and high durability. Demand for solvent based technology expected to decline during the forecast period due to rising stringent regulations on VOC emissions and rising interest for LEED certified buildings.
- Powder based technology is the least attractive segment in the market due to high production cost, inability to product thin finish, and risk of contamination.
- In terms of revenue, construction held a major share of more than 50% in global polyaspartic coatings market in 2018. Increasing demand for green and sustainable building products that consumes less energy and emits less CO2 and VOC estimated to drive the polyaspartic coatings market. Polyaspartic coatings provides better UV stability and high durability compared to its counterparts. Thus, increasing need for cost-effective protective, waterproofing coating products in the market due to the unpredictable weather, rising cost of living, and changing lifestyles pushing manufacturers to produce technologically advanced products in the market which is propelling the global polyaspartic coatings market.
Get an idea about the offerings of our report from Report Brochure
Global Polyaspartic Coatings Market: Regional Insights
- In 2018, North America was the leading consumer of polyaspartic coatings market followed by Asia Pacific. Stringent building regulations and a focus on reducing VOC emission have been major factors for the high adoption rate of polyaspartic coatings in North America. There is a higher emphasis on green building, energy saving, and superior waterproofing products due to the varying climatic conditions in the region.
- Demand for polyaspartic coatings in Asia Pacific originates from new construction projects and refurbishment of existing buildings. Development programs regarding quality products and foreign direct investment (FDI) are boosting the housing and commercial sectors.
- Europe combined with Asia Pacific held more than 50% share of the total consumption of polyaspartic coatings. Expansion of the automotive sector in China, India, Indonesia, Malaysia, Thailand, and Vietnam is estimated to propel the demand for polyaspartic coatings during the forecast period. Increasing the content of plastics in vehicles requires low-temperature cure coating systems. The automotive industry is rapidly moving toward an 80°C cure process and faster drying, with very high gloss. In addition, rise in demand for automotive refinish performance characteristics such as self-healing and self-cleaning or resistance/easy removal of dirt and solar-reflective functionalities are boosting the demand for polyaspartic coatings in the automotive industry.
- The wind energy market is expanding in Europe due to increase in compliance to substitute fossil and nuclear primary energy with energy generated from renewable sources. Most of the installed wind turbine capacity in Europe are offshore based which require coatings that can withstand intense stress such as impact of heavy rain or hailstorm. Rise in demand for developing large number of offshore wind turbines with higher energy output and improved coatings is driving the polyaspartic coatings market in the region.
Looking for Regional Analysis or Competitive Landscape in Polyaspartic Coatings Market, ask for a customized report
Global Polyaspartic Coatings Market: Competition Landscape
- Major players in the polyaspartic coatings market
- Akzo Nobel N.V
- The Sherwin Williams Company
- PPG Industries
- Covestro AG
- Sika Corporation
- Cipy Polyurethanes Pvt. Ltd
- Rust-Oleum Corporation.
- Government enforcement on improving the durability of concrete structures is pushing manufacturers to develop environment-friendly quality products.
- In March 2020, Akzo Nobel N.V. completed the acquisition of the remaining 25% stake in Akzo Nobel Boya Sanayi ve Ticaret A.S., a major producer of powder coatings in Turkey. The company has now acquired full ownership, having previously held the majority share.
- In January 2020, BASF SE introduced innovative waterproofing membrane, MasterSeal® 730 UVS in Asia, to expand its versatile waterproofing portfolio under its Master Builders Solutions brand.
- In December 2019, BASF SE launched the next generation of high-performance flooring systems, MasterTop XTC, for the construction industry.
- In November 2019, Akzo Nobel N.V. has completed the acquisition of French aerospace coatings manufacturer Mapaero. The deal will strengthen AkzoNobel’s global position in aerospace coatings, notably in the structural and cabin coating sub-segments.
- In October 2019, Coatings for Industry, Inc., (CFI) introduced WearCOAT 2015, a low-VOC polyaspartic primer that offers quick cure times and can be applied at low temperatures. This product is well suited for bakeries, hospitals, restaurants, pharmaceutical and other healthcare facilities, or food service facilities that require both safety and fast return-to-service.
Global Polyaspartic Coatings Market: Scope of the Report
TMR’s recent publication on the global polyaspartic coatings market provides audiences with an overall market outlook, with the help of comprehensive assessment of the global market scenario. TMR’s study on the global polyaspartic coatings market analyzes the market with respect to the historical and current market scenario and offers forecast for the period from 2019 to 2027.
Report readers are able to make important decisions pertaining to their business with a wealth of information and exclusive insights on the global polyaspartic coatings market enclosed in the study. The report on the global polyaspartic coatings market also provides in-depth understanding of key market trends and advancement made by companies. This TMR report is divided into different sections to allow readers to gain individual understanding of the global polyaspartic coatings market.
Global Polyaspartic Coatings Market: Key Queries Addressed in Report
- How much volume sales is expected to be generated in the global polyaspartic coatings market by the products during the forecast period?
- What are key growth indicators and market dynamics that are expected to drive the global polyaspartic coatings market in the next five years?
- Which regions are estimated to provide lucrative opportunities to the global polyaspartic coatings market during the forecast period?
- What are the essential strategies adopted by key players operating in the global polyaspartic coatings market in order to expand their geographical presence?
The first section of the TMR’s report on the global polyaspartic coatings market begins with a premise that includes report scope, market segmentation, and research highlights. This is followed by the executive summary that highlights aspects of the global polyaspartic coatings market covered in the study. This section provides brief understanding of market elements and enables readers to understand the aspects covered in the study. The report also includes market dynamics on polyaspartic coatings that offer understanding of market drivers, restraints, and opportunities.
The next section includes segmentation analysis of the global polyaspartic coatings market. This evaluation includes segmentation of the global polyaspartic coatings market based on technology, end-user and region. Furthermore, analysis of key segments, year-on-year growth projection, and basis point share analysis are included in the report. These help readers identify promising areas for growth of the market.
The TMR’s study on the global polyaspartic coatings market offers assessment of the geographical landscape of the market. The regional study helps market competitors make important decisions pertaining to their business. Individualized, region-wise, and segment-wise analysis helps readers decipher the growth potential for the market across various geographies. Supported by year-on-year growth projection and global market value and volume share, this section is a vital part of the polyaspartic coatings report.
The study on the global polyaspartic coatings market offers a holistic competitive value judgment, with details of leading as well as emerging market players. The dashboard view of competitors operating in the global polyaspartic coatings market allows readers to understand business strategies of these players along with their performance.
Global Polyaspartic Coatings Market: Research Methodology
The TMR’s report on the global polyaspartic coatings market is based on detailed estimation of the market, with the inclusion of comprehensive primary and secondary research inputs. Detailed investigation of the global polyaspartic coatings market, in terms of competition scenario, is supported by individual-level examination of different avenues related to the market. Furthermore, for secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the required understanding of the global polyaspartic coatings market. This helps TMR’s analysts derive crucial predictions and forecast of the global polyaspartic coatings market. Readers can access the study of the global polyaspartic coatings market to gain projected market analysis for the period from 2019 to 2027.
Global Polyaspartic coatings Market: Segmentation
Middle East & Africa