What are the Key Challenges in Polyaspartic Coatings Market?

Global Polyaspartic Coatings Market: Highlights

• The global polyaspartic coatings market is projected to grow at a CAGR of more than 6.5% between 2019 and 2027. Rising demand for protective coatings for transportation structural maintenance to impede the deterioration process and elongate the service lives of infrastructures is fuelling the demand for polyaspartic coatings.
• Polyaspartics coatings are extensively utilized in various commercial, industrial, and residential structures as they provide greater protection against deviating climatic conditions. These coatings play a vital role in protecting industrial floors at warehouses, factories, automotive shops, and chemical processing units.
• Significant expansion of the automotive industry has led to considerable demand for paints & coatings products. Shift in consumer preference toward quality coating products is estimated to drive product innovation in the automotive industry, which in turn is boosting the polyaspartics coatings market. Polyaspartic coatings play a very important role in the automotive industry. They aid in corrosion protection of commercial vehicles and OEM fascia parts.
• Polyaspartics coatings is a two part resin system which contains polyurea aliphatics. It is manufactured by mixing resin and a catalyst in order to initiate a curing reaction that leads to hardening of the materials. This imparts high durability and hardness to the coating resins. It can be also manufactured by carrying out polymeric condensation of maleic anhydride and ammonia in the presence of a polar solvent without active hydrogen to give polysuccinimide and hydrolyzing the resulting polysuccinimide to obtain polyaspartic coatings.

Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=24056

Global Polyaspartic Coatings Market: Segmental Trends

• In terms of demand, solvent based is the leading technology segment, however over the coming years water based technology expected to surpass solvent based technology due to stringent regulations on VOC emission.
• Water based technology expected to gain substantial share during the forecast period due to rising demand for environmental friendly formulation in paints & coatings industry. The powder-based technology segment held minor share of the polyaspartic coatings market in 2018 and its demand is expected to decline during the forecast period, due to high production cost, inability to provide thin finish, and difficulties in changing colour.
• In terms of end-user, construction and transportation was leading segment in 2018. The construction industry is increasingly leaning toward green and sustainable products, which consume less fuel and thereby, release low levels of CO2. Demand for BREEAM and LEED-certified buildings is anticipated to propel the market due to the expanding commercial and residential sectors across the globe.
• Power generation segment accounted for smaller share in the global polyaspartic coatings market in 2018. However, the rise research & development activities and increasing demand for protective coating for offshore wind turbines are expected to boost the market during the forecast period.

More Trending Reports
https://www.prnewswire.com/news-releases/growth-in-oil-and-gas-activities-generates-promising-demand-opportunities-in-monochloroacetic-acid-market-301237277.html

Global Polyaspartic Coatings Market: Regional Highlights

• In terms of volume, North America accounted for a significant share in polyaspartic coatings market in 2018 followed by Asia Pacific. This trend is expected to continue during the forecast period due to the high penetration of manufacturing facilities of FMCG, pharmaceutical, food & beverage and oil & gas sectors in the U.S.
• Rapid growth in construction industry as well as rising investment in automotive industry propelling the demand for polyaspartic coatings in Asia Pacific. China, India, and ASEAN countries are the lucrative market for polyaspartic coatings due to rising population and disposable income in the countries.
• Middle East & Africa and Latin America are also witnessing moderate growth during the forecast period due to growing commercial and industrial construction activities. Countries in GCC and other countries such as Brazil, Mexico, and South Africa recently witnessed high investments, particularly related to new construction sites and real estate properties. Considering the high untapped potential in the region, these new proposed projects make Latin America as well as Middle East & Africa an attractive destination for producers of polyaspartic coatings.

Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=24056<ype=S

Key Developments in Global Polyaspartic Coatings Market

• 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.

Request Covid19 analysis on this market
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=24056

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, and Rust-Oleum Corporation.
• Government enforcement on improving the durability of concrete structures is pushing manufacturers to develop environment-friendly quality products.

The Polyaspartic Coatings Market has been undergoing some remarkable growth dynamics, shaped increasingly by digital technologies and environmental sustainability concerns of product development. Over the decades, the feedstock variability and the onslaught of cheaper substitutes have squeezed in profit margins of the chemical and materials sector. On the other hand, the value chain of several businesses in the Polyaspartic Coatings Market has undergone overhaul, increasingly rendering some aspiring players with greater control over the forces and demand. The penetration of Industry 4.0 in in the market has stirred game-changing trends for range of stakeholders in the overall chemicals and materials sector. Manufacturing and production environments of businesses in the Polyaspartic Coatings Market are keen on formulating and implementing strategic frameworks that will turn them into digital enterprises.

Companies in the Polyaspartic Coatings Market
have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

US Office Contact

90 State Street, Suit e 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

This release was published on openPR.