Polyurea Market Global Trends 2015 to 2022, Future Growth & Industry Drivers

The proliferation of technology across major end-use sectors across the globe has a major role to play in the growth of Gas Insulated Switchgear Market. Major firms have undertaken the tactics of technological innovations to steer the growth path of this industry toward a positive axis. For instance, in August 2015, ABB, a Swiss-Swedish multinational firm functioning in the areas of power, robotics, and automation, had developed the world’s first environment friendly gas mixture to be used across high & medium voltage GIS bays, which was expected to replace the toxic & hazardous SF₆ gas.

Global Market Insights has a new study based report titled " Polyurea Market Size By Product (Lining, Coating, Sealants), By Raw Material (Aliphatic, Aromatic), By Application (Industrial, Construction, Transportation), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2015 – 2022".

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The report offers all-inclusive analysis of:

1 Market structure
2 Factors restraining market growth
3 Market growth drivers
4 Opportunities and challenges
5 Market estimations and forecast for projected period

The global warming potential of the new eco-friendly gas is lesser than that of SF₆, which will substantially reduce the greenhouse emissions of gas insulated switchgears by 50%. The initiative will also minimize the costs incurred due to phasing out old substations through their disengagement, which will lead to their upgradation and eventually provide a positive impetus to gas insulated switchgear market.

The Polyurea Market Report Consists of,

1. Methodology and Scope
2. Executive Summary
3. Polyurea Market Industry Insights

3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2016 - 2024
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights

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3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter's analysis
3.10. Company market share, 2015
3.11. PESTEL analysis
3.14. Regional price trends

4. Polyurea Market Product Insights
Polyurea is available in three product variants which includes sealants, coatings, and linings. Global polyurea coatings market size was more than USD 600 million in 2014 and is expected to flourish at a CAGR beyond 6.5% up to 2022. It is increasingly gaining advantage over epoxy coatings, paints, fiberglass, and vinyl esters because of its superior performance qualities. It is used in construction for waterproofing of roofs, floors, parking decks, and walls and also for water containment in swimming pools, playgrounds, etc.

5. Polyurea Market Application Insights

Global polyurea market has been segmented according to application in construction, industrial purposes, transportation of fluids and other materials, along with other applications. Construction applications led the global polyurea industry accounting for more than 40% of the overall demand. Major use cases include multi-purpose joint filling, caulking, and as a sealant material as it provides a flexible, long-lasting, corrosion resistant, and weather-tight seal for various building joints including control and expansion joints in masonry floor, doors and window panels, perimeter joints, water tanks, etc. It is also used to fill cracks due to high tensile strength and elongation properties. Industrial applications generated close to USD 300 million in 2014.

6. Polyurea Market Regional Insights

Asia Pacific had the maximum polyurea market share with more than 35% of the total size, recording a revenue over USD 350 million in 2014. The region is also expected to witness the fastest growth over the forecast timespan at close to 7.0% CAGR. This growth is on the account of increasing awareness about protective coatings in automotive and industrial applications in China and India. Rising construction industry in East and South East Asia will also have a positive effect on the global polyurea market share.

North America, led by the U.S. polyurea market, accounted for over a fifth of the global revenue, registering more than USD 200 million in 2014. U.S. construction industry witnessed a notable growth after the economic slowdown and is expected to drive the industry in the upcoming years. The ongoing shale gas exploration has also provided an opportune moment for the market to flourish, owing to the application in railcar lining, pipeline construction, etc.

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7. Competitor Profiles

A considerable number of domestic and multinational players have participated in the polyurea market and are proceeding towards consolidation through strategic M&A activities. Some of the polyurea industry participants include Huntsman Corp, Bayer (Covestro), Specialty Products Inc., PPG Industries, and BASF SE.

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