Global Polyaspartic Coatings Market Size By Technology (Water-borne, Solvent-borne, Powder Coatings), By Product Type (Pure Polyaspartic Coatings, Hybrid Polyaspartic Coatings), By Product End-User (Building and Construction, Marine, Infrastructure, Power Generation), By Geographic Scope And Forecast
Report ID: 325098|No. of Pages: 202
Global Polyaspartic Coatings Market Size By Technology (Water-borne, Solvent-borne, Powder Coatings), By Product Type (Pure Polyaspartic Coatings, Hybrid Polyaspartic Coatings), By Product End-User (Building and Construction, Marine, Infrastructure, Power Generation), By Geographic Scope And Forecast
Polyaspartic Coatings Market Size And Forecast
Polyaspartic Coatings Market size had a valuation of USD 321 million in 2022. We expect that the Market will reach a valuation of USD 539.78 million by 2030, with an exceptional CAGR of 3.13% during the forecast period of 2024-2030.
The global Polyaspartic Coatings Market is expanding due to the expansion of the construction industry. The advantages offered by Polyaspartic Coatings over conventional coatings have acted in favor of the global Market as many other industries, such as marine infrastructure, power generation, etc., are also showing higher demand for Polyaspartic Coatings. During the forecast period, the demand from these industries is forecasted to carry the Market forward, especially in the Asian Market, which is offering growth opportunities to new entrants and established Market leaders. The Global Polyaspartic Coatings Market report delivers a holistic evaluation. The report thoroughly analyzes key segments, trends, drivers, restraints, competitive landscape, and factors that play a substantial role in the Market.
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Global Polyaspartic Coatings Market Definition
Polyaspartic coatings are coatings prepared using aliphatic polyurea that protects various components, such as steel support, used in the construction industry. The poly aspartic coatings are manufactured using a chemical fusion of aspartic with aliphatic polyisocyanates, which then produce poly aspartic esters.
Polyaspartic esters are far more versatile than polyurethanes, as simple changes can make them useful for distinct applications. Furthermore, polyurethane and other conventional coating systems require longer curing time because of their chemical composition. However, Polyaspartic Coatings can be set within a shorter period because of their shorter cutting time.
Due to such advantages, Polyaspartic coatings are being preferred in the construction industry over polyurethanes. Polyaspartic coatings can also withstand temperatures that are below the freezing points, which many conventional coatings cannot do.
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Global Polyaspartic Coatings Market Overview
The primary driver for the global Polyaspartic Coatings Market is the growth of the building and construction sector. The Asia Pacific region is expecting rapid growth in its population, especially in countries like China and India, which accumulate almost 35% of the global population.
Due to such a higher population, many Western companies and Market leaders are shifting to Asian countries to set up their manufacturing units which are offering employment to the locals. Due to such Market development, the region is experiencing faster industrial growth, which has sent a boom across the construction sector in the Asia Pacific region.
During the forecast period, these factors are expected to assist the global Polyaspartic Coatings Market in the Asia Pacific region, offering attractive expansion opportunities to the new and established Market players. However, stringent government regulations due to environmental concerns are expected to hinder Market growth as it restricts the free expansion of the industry.
Global Polyaspartic Coatings Market Segmentation Analysis
The Global Polyaspartic Coatings Market has distinct segments Based on Technology, Product Type, End-User, and Geography.
Polyaspartic Coatings Market, By Technology
- Water-borne
- Solvent-borne
- Powder Coatings
- Others
Based on the Technology, the global Market for Polyaspartic Coatings is segmented into water-borne, solvent-borne, powder coatings, and other technologies. The water-borne segment is forecasted to procure the largest Market share, owing to the higher durability of water-borne-based Polyaspartic Coatings. Furthermore, the demand for solvent-borne products is expected to fall as governments are implementing many stringent regulations, which will benefit the water-borne segment in the coming period.
Polyaspartic Coatings Market, By Product Type
- Pure Polyaspartic Coatings
- Hybrid Polyaspartic Coatings
Based on the Product Type, we have segmented the global Market for Polyaspartic Coatings into Pure Polyaspartic Coatings and Hybrid Polyaspartic Coatings. The pure Polyaspartic Coatings segment is estimated to have a prominent Market share due to higher demand for the product based on its improved characteristics, such as durability and premium quality. Pure Polyaspartic Coatings have low or zero concentrations of VOC and have relatively shorter curing times, making them suitable compared to hybrid types.
Polyaspartic Coatings Market, By End-User
- Building and Construction
- Marine
- Infrastructure
- Power Generation
- Others
Based on End-User, the global Market for Polyaspartic Coatings is segmented into building and construction, marine, infrastructure, power generation, and others. The building and construction segment is forecasted to acquire a larger Market share and generate higher revenue compared to other segments because of the higher demand for Polyaspartic Coatings in the construction industry. With the rising industrialization and expansion of cities, the construction industry is booming at an exponential rate, propelling the Market for Polyaspartic Coatings.
Polyaspartic Coatings Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Based on Regional Analysis, the global Market for Polyaspartic Coatings is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The Asia Pacific region is forecasted to reign in the global Polyaspartic Coatings Market due to its emerging markets that are experiencing rapid industrialization and urbanization. Because of this, the construction industry in the Asian region is booming at an unprecedented rate, assisting the growth of the Polyaspartic Market.
Key Players
The “Global Polyaspartic Coatings Market” study report will provide valuable insight with an emphasis on the global Market. The major players in the Market are Akzo Nobel NV, BASF SE, PPG Industries Inc, Sika AG, Covestro AG, and others
Our Market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, Market share, and Market ranking analysis of the above-mentioned players globally.
Key Developments
- In May 2020, Hampel developed a new factor in China with an investment of around USD 100 million with a goal to expand its presence in the Chinese construction industry.
- In August 2020, the Sherwin-Williams Company launched a product named, Environlastic 2500. The product can improve the structural integrity of steel, offering better protection to the building.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators
Market Attractiveness
The image of Market attractiveness provided would further help to get information about the region that is majorly leading in the Global Polyaspartic Coatings Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Force
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Polyaspartic Coatings Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | Akzo Nobel NV, BASF SE, PPG Industries Inc, Sika AG, Covestro AG |
| SEGMENTS COVERED | By Technology, By Product Type, By End-User, By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Qualitative and quantitative analysis of the Market based on segmentation involving both economic as well as non-economic factors
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• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the Market within each region
• Competitive landscape which incorporates the Market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major Market players
• The current as well as the future Market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the Market from various perspectives through Porter’s five forces analysis
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Exploratory data mining
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Data Collection Matrix
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Econometrics and data visualization model
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Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
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We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
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The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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