New Research Report Explore Polyaspartic Coatings Market Expected to Represent a Value of US$819.0 mn by the 2025

This research report offers a comprehensive analysis of the “Polyaspartic Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025” The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Global Polyaspartic Coatings Market: Snapshot

The global market for polyaspartic coatings is witnessing growth on the back of recovery of the construction sector globally. The escalating number of skyscrapers and modern residential units that employ high-quality coatings to protect core components is fuelling the demand for polyaspartic coatings.

Polyaspartic coatings display features of high durability and hardness that make them preferable over commonly used coatings such as epoxy and polyurethanes. Reduced drying times, greater film thickness, long pot life, odorless, low color values, and high compatibility with most surfaces also make them preferable for concrete floor applications. Polyaspartic coatings also offer prevention against corrosion that makes them suitable for harsh environment applications.

According to a report by Transparency Market Research, the global polyaspartic coatings was pegged at US$463.5 mn in 2016. Expanding at a CAGR of 6.6% for the 2016-2025 forecast period, the market is anticipated to be worth US$819.0 mn by 2025.

Water based Technology to Emerge Lucrative in Future

The report studies the global polyaspartic coatings market based on a few parameters, viz. technology, end user, and geography. In terms of technology, the market is segregated into water based, solvent based, and powder based. Solvent based technology currently displays leading demand in the market. However, water based technology is anticipated to surpass solvent based technology due to stringent regulations on VOC emissions. The rising demand for water based paint and coating formulations due to environmental concerns is expected to bode well for solvent based technology in the upcoming years.

On the other hand, powder-based technology segment held minuscule share of the polyaspartic coatings market in 2016, and its demand is anticipated to dip during the forecast period. This is because of high production cost, difficulties of changing color, and inability to provide a thin finish.

In terms of end user, the global polyaspartic coatings market could be segmented into construction, power generation, transportation, and others. Residential, industrial, and commercial are the sub-segments within construction segment, whereas automotive, railcar, and others are the sub-segments within transportation. At present, the construction sector displays a surging demand for green and sustainable products that do not discharge toxic substances in the environment. Demand for BREEAM and LEED-certified buildings is anticipated to be on the rise, which in turn, will propel demand for polyaspartic coatings.

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In the transportation segment, rising demand for protective coatings to slower the deterioration process and elongate the service lives of automobiles is fuelling the demand for polyaspartic coatings. Power sector also accounts for significant demand for polyaspartic coatings. This is because polyaspartic coatings provide attributes of prevention against corrosion coupled with low maintenance costs that make them suitable for wind tower, off shore wind turbine blades, and power equipment among others.

North America to Continue to Remain Leader

North America held a significant share in the polyaspartic coatings market in 2016 vis-à-vis volume. Stringent building regulations and focus on curbing VOC emissions have been key factors for the adoption of polyaspartic coatings in North America. Construction of green buildings equipped with energy saving systems and superior waterproofing products are on a continual rise to serve the varying climatic conditions in the region.

Europe and Asia Pacific collectively accounted for more than 50% demand for polyaspartic coatings in 2016. Expansion of the automotive sector in China, India, Malaysia, Thailand, Vietnam, and Indonesia is likely to propel the demand for polyaspartic coatings during the report’s forecast period.

Leading players in the global polyaspartic coatings market include Akzo Nobel N.V., PPG Industries, Sika Corporation, The Sherwin Williams Company, Covestro AG, Cipy Polyurethanes Pvt. Ltd., and Rust-Oleum Corporation.

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