Polyaspartic Coatings Market Projected To Hit $515.1 Million By 2031 | Business Opportunities and Current Trends

Polyaspartic coating, a protective layer of aliphatic polyurea is generally applied on concrete floor surfaces or metals. It can be either of 100% solid or hybrid type. It was firstly developed as a coating for steel bridges. It possesses excellent significant properties such as corrosion resistance, flexibility, and superior adhesion that make it best-suited for use in a wide range of end-use industries such as building & construction, transportation, industrial manufacturing, power generation, and others.

Increase in investments in building infrastructure in countries such as the U.S., China, Japan, Mexico, and India, have led the building & construction sector to witness a significant growth where polyaspartic coatings are used for flooring, wall finishing, and roofing applications.

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For instance, according to a report published by National Investment Promotion and Facilitation Agency, the infrastructure activities accounted for 13% share of the total foreign direct investment (FDI) inflows in 2021. In addition, sustainable economic growth coupled with increase in demand for consumer goods has led the automotive & transportation sector to witness a significant increase in demand where polyaspartic coating is widely used for corrosion protection applications in under hood parts, engine components, interior of containers, and storage vessels. These factors are predicted to contribute toward the global polyaspartic coatings industry growth.

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However, the cost involved the formulation of polyaspartic coating is high that results in expensive final product. Furthermore, polyaspartic coatings are relatively expensive as compared to its other substitutes such as polyurethane and epoxy coatings. In addition to this, the production of polyaspartic coating required skilled workforce. These factors altogether may retrain the polyaspartic coatings market growth during the forecast period.

Impact Of Covid-19 On the Polyaspartic Coatings Market:

► The polyaspartic coating market was negatively impacted due to the wake of the COVID-19 pandemic. However, the increasing awareness for using eco-friendly products among citizens of both developed and developing economies may surge the popularity of polyaspartic coatings with minimal or no VOC emissions in various end-use sectors including transportation, building & construction, industrial, aerospace, and others.

► Furthermore, the building & construction and transportation activities are projected to get back on track and start functioning at full capacity post-COVID-19 period which in turn may enhance the performance of the polyaspartic coating market during the forecast period.

Key Benefits For Stakeholders:

► This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the polyaspartic coatings market analysis from 2021 to 2031 to identify the prevailing polyaspartic coatings market opportunities.

► Market research is offered along with information related to key drivers, restraints, and opportunities.

► Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.

► An in-depth analysis of the polyaspartic coatings market segmentation assists to determine the prevailing market opportunities.

► Major countries in each region are mapped according to their revenue contribution to the global market.

► Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

► The report includes an analysis of the regional as well as global polyaspartic coatings market trends, key players, market segments, application areas, and market growth strategies.

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Key Market Players:

► LATICRETE International Inc

► Resinwerks

► AkzoNobel

► PPG Industries

► Covestro AG

► SIKA AG

► Rust-Oleum Corporation

► The Sherwin-Williams Company

► IndMar Coatings Corporation

► BASF SE

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