Global Polyurea Market Research Report - Industry Analysis, Size, Growth and Forecast to 2024 : Hexa Research

Global polyurea market value is expected to exceed USD 13 billion by 2024 and is estimated to grow at a CAGR of over 12.5% from 2016 to 2024. The polymer is widely used in applications including transportation, industrial and construction owing to its distinctive properties and characteristics such as high thermal stability, fast curing time, excellent water insensitivity, and pigment compatibility.

Polyurea is obtained by the reaction of synthetic resin polymer and isocyanate compounds, through step-growth polymerization technique. It is treated to manufacture lining systems, coatings, sealants, and adhesives.

The growing use of protective coatings in construction and automotive applications on account of its high durability and rust prevention is anticipated to encourage the usage of the polymer. Production of low-cost and efficient coating alternatives including polyurethane and epoxy is expected to hinder the market growth over the next eight years.

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Polyurea is added to sealant formulations and adhesives to provide high adhesion to clean substrates including concrete, wood, blasted steel and bitumen. The increasing demand and need for sealants & adhesives as bonding materials particularly in construction and automotive industries is anticipated to be a dominant factor in propelling market growth in the future.

Growing expenditure on environment safety measures including lining systems in landfill control and containment ponds is expected to steer polyurea demand. Stringent regulations to mitigate environmental pollution by using polyurea to contain water for pool decorations and ponds to form the main containment liner can be attributed as the major factor driving the market growth.

Increased adoption of polyolefin built lining systems such as LDPE and HDPE in mining and construction sectors at the global level is expected to pose a major threat for the...