Polyurea Market Size

Polyurea Market Size

Polyurea market size exceeded over USD 1 Billion, in 2019 and is estimated to grow at over 6% CAGR between 2020 and 2026. Stringent government regulations aimed at reducing the emission of volatile compounds in construction industry are motivating end-users to procure polyurea linings, which in turn estimated to boost the growth of global market.

Polyurea products are used as sealants, coats and lining solutions in order to ensure high thermal stability, pigment combability, fast curing time, and high-water insensitivity. This product finds such common applications in transportation, building construction, and other industrial domains.

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This product is widely procured by end-users as they are eco-friendly and complaint with the norms stipulated by authorities monitoring the environmental effects of Volatile Organic Compounds (VOCs). For instance, the European Union Ecolabelling Board (EUEB) identifies and lists the hazardous classifications and characteristics of preparations, compounds and substances that cannot be used by automotive and construction end-users as stipulated by the Ecolabel Regulation.

Rising urbanization has led to an increased application scope in the transportation and construction industries. The polyurea solutions are often used in construction and automotive industries to repair tunnels and bridges, construct highways and roads, and as vehicle coatings. The rapidly increasing infrastructural spending and emphasis on improvement of public transport, construction of subways, and urbanization are facilitating favourable conditions for the polyurea market growth.

The coronavirus pandemic has led to an imposition on travel ban and shutdown of manufacturing units, offices & marketplaces by governments all over the world, which have led to value chain disruptions throughout the globe. This has adversely affected raw materials supply for producing polyurea. This pandemic has led to global lockdown of constructions, manufacturing plants and transportation which may decrease polyurea utilization.