Environmental Concerns Expected to Help Spur Strong Demand for Polyurea Coatings
The polyurea coatings market is expected to surpass $1.5 billion by the end of 2029, registering a CAGR of over 9%.
The global polyurea coatings market was valued nearly $600 million at the end of 2018, according to a recent report from Future Market Insights. The market is expected to surpass $1.5 billion by the end of 2029, registering a CAGR of over 9%.
On the basis of type, the hybrid polyurea segment is a prominent segment, as it has a lower price range and also various application areas. However, the pure polyurea coatings segment is projected to witness healthy growth during the forecast period. Rising environmental concerns regarding the risks associated with volatile organic compound (VOC)-content coatings, as well as shifting trends toward the adoption of advanced and eco-friendly coating technologies, are expected to drive the demand for polyurea coatings.