Report : Europe Polyurea Coatings Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Raw Material (Aliphatic Polyurea and Aromatic Polyurea), Type (Pure Polyurea and Hybrid Polyurea), Technology (Spraying, Pouring, and Hand Mixing), and Application (Building and Construction, Transportation, Industrial Application and Others)
At 10.1% CAGR, the Europe Polyurea Coatings Market is speculated to be worth US$ 222.16 million by 2028, says Business Market Insights
According to Business Market Insights research, the Europe Polyurea Coatings Market was valued at US$ 124.78 million in 2022 and is expected to reach US$ 222.16 million by 2028, registering a CAGR of 10.1% from 2022 to 2028. Increase in building and construction activities are the critical factors attributed to the Europe polyurea coatings market expansion.
Polyurea coatings have higher temperature resistance, moisture resistance, UV resistance, abrasion resistance, and chemical resistance, as well as more durability than epoxy coatings. Compared with polyurethane coatings, polyurea coatings have higher chemical and moisture resistance and more durability. Polyurea coatings have significantly lesser curing time in comparison to epoxy coatings, owing to their advanced characteristics. Polyurea is a more flexible material than epoxy. As polyurea has more elasticity, it will move with the concrete rather than crack. Unlike epoxy flooring, polyurea flooring will not bubble, peel, or crack over time. Polyurea has a higher resistance to chemicals than epoxy and is UV stable. It is better for garage floors and exterior spaces and protects the floor against damage, stains, chemicals, and wear. Polyurea are light reflective, easy to clean, and long-lasting. Furthermore, polyurea coatings are easy to maintain. Epoxy floors have a shorter life span compared to polyurea coatings. Moreover, expensive repairs are needed when cracks happen on epoxy coatings. Floors with epoxy coatings can be slippery when wet and need regular maintenance. Epoxy flooring can be worn out prematurely if exposed to high temperatures, and the coating used is not of high quality. Epoxy coatings are also challenging to install in garages because high temperatures can quickly harden the epoxy coating materials before being spread out evenly on the floor. Polyurea lasts longer in environments where vehicles or forklifts are moving on the floor. It does not require costly recoating every few years, unlike epoxy, which saves money in the long run. Polyurea is applied at lower temperatures than epoxy and does not damage the flooring materials. Additionally, since polyurea is a 100% solids coating, it has no added chemicals to thin out the product as epoxy has. Therefore, fewer VOCs (volatile organic compounds) are emitted into the environment during the application and curing of polyurea coating, making it safer for everyone involved. Therefore, the properties of polyurea are better than epoxy and polyurethane coatings, hence the demand for polyurea coatings is surging.
On the contrary, high price and toxic raw material hampers the Europe Polyurea Coatings Market.
Based on raw material, the Europe polyurea coatings market is segmented into aliphatic polyurea and aromatic polyurea. The aromatic polyurea segment held 86.5% share of Europe Polyurea Coatings Market in 2022, amassing US$ 108.00 million. It is projected to garner US$ 188.65 million by 2028 to expand at 9.7% CAGR during 2022–2028.
Based on type, the Europe polyurea coatings market is segmented into pure polyurea and hybrid polyurea. The hybrid polyurea segment held 83.0% share of Europe Polyurea Coatings Market in 2022, amassing US$ 103.58 million. It is projected to garner US$ 180.16 million by 2028 to expand at 9.7% CAGR during 2022–2028.
Based on technology, the Europe polyurea coatings market is segmented into spraying, pouring, and hand mixing. The spraying segment held 58.5% share of Europe Polyurea Coatings Market in 2022, amassing US$ 73.04 million. It is projected to garner US$ 130.80 million by 2028 to expand at 10.2% CAGR during 2022–2028.
Based on application, the Europe polyurea coatings market is segmented into building and construction, transportation, industrial application and others. The building and construction segment held 45.2% share of Europe Polyurea Coatings Market in 2022, amassing US$ 56.37 million. It is projected to garner US$ 101.37 million by 2028 to expand at 10.3% CAGR during 2022–2028.
Based on country, the Europe polyurea coatings market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 22.0% share of Europe Polyurea Coatings Market in 2022. It was assessed at US$ 27.45 million in 2022 and is likely to hit US$ 53.83 million by 2028, exhibiting a CAGR of 11.9% during the forecast period.
Key players dominating the Europe polyurea coatings market are BASF SE; Fosroc Inc; Huntsman International LLC; Nukote Coating Systems International LLC; PPG Industries Inc; Rhino Linings Corp; Sika AG; Teknos Group Oy; The Sherwin-Williams Co; and VIP Coatings International GmbH & Co KG, among others.
- Feb 2021, PPG Industries Inc acquired VersaFlex from DalFort Capital Partners. VersaFlex specializes in polyurea, epoxy, and polyurethane coatings for water and wastewater infrastructure, flooring, transportation infrastructure, and industrial applications.
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