Polyaspartic Coatings Market by Type (Pure Polyurea and Hybrid Polyurea), by Technology (Water-Borne, Solvent-Borne, and Powder Coatings), and by End-User (Building & Construction, Transportation, Infrastructure, Power Generation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Polyaspartic is an aliphatic polyurea that is derived from an aliphatic polyisocyanate component reaction product and a polyaspartic ester element, which is a new diamine/amine functional coreactant of aliphatic polyisocyanate. Polyaspartic coatings are used in a wide variety of applications, such as metal coatings in bridge beams, railways, offshore marine items, sports stadiums, etc.

The global polyaspartic coatings market is projected to witness notable growth over the forecast time period, owing to the increasing applications of polyaspartic coatings in the building and construction industry. Polyaspartic coating is widely used as stone carpets, topcoats, sealants, and waterproofing. Moreover, the emerging applications of polyaspartic coatings in the marine industry, as these coatings provide excellent corrosion resistance and dry extremely fast, which are anticipated to further propel the polyaspartic coatings market globally. However, the high cost of polyaspartic coatings than its substitutes, such as polyurethane and epoxy coatings, may hamper the polyaspartic coatings market growth in the years ahead. Conversely, the growing polyaspartic coatings use, particularly in the emerging economies, is expected to further boost the polyaspartic coatings market growth.

Polyaspartic coatings market is classified on the basis of type, technology, and end-user. The type segment includes pure polyurea and hybrid polyurea. Hybrid polyurea contributed the largest share to the global polyaspartic coatings market in 2018 and is projected to maintain its growth in the upcoming years as well. Based on technology, the polyaspartic coatings market includes solvent-borne, water-borne, and powder coatings. Solvent-borne technology dominated the global polyaspartic coatings market in 2018. The end-user segment of the polyaspartic coatings market comprises transportation, building and construction, infrastructure, power generation, and others. The building and construction segment contributed the largest share to the global market in 2018 and is expected to register the fastest growth in the future.

The Asia Pacific is the largest contributor to the polyaspartic coatings market globally and is projected to continue its dominance in the future as well. This regional dominance is attributed to the rising polyaspartic coatings demand by the automotive and construction industries in the developing countries of India, China, and Indonesia. Moreover, technological advancements witnessed in polyaspartic coatings are likely to enhance its consumption globally. The North American polyaspartic coatings market is predicted to grow significantly over the upcoming years.

Some major players of the global polyaspartic coatings market are The Sherwin-Williams, BASF, Covestro, AkzoNobel, PPG Industries, Rust-Oleum, Hempel, Laticrete, VIP Coatings, and SIKA.