Global Polyaspartic Coatings Market Is Growing at A CAGR of 7.1% During 2019-2026

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The global polyaspartic coatings market was valued at USD 352.1 million in 2018 and is expected to reach USD 640.7 million in 2026, growing at a CAGR of 7.1% during the forecast period.

Polyaspartic coatings are essentially designed to exhibit features such as rapid curing capabilities, and fast-drying. These coatings can dry in a matter of hours or less. The growth of the polyaspartic coatings market is primarily driven by the polyaspartic technology which can be applied in various end-use industries by simple manipulation. When compared with regular coatings made of epoxy and polyurethane polyaspartic coatings cure more quickly. These coatings can also be used in low-temperature applications with easy formulations. Typical applications of polyaspartic coatings include coatings for bridges, flooring, OEM coatings, automotive repair, wind turbines, and pipelines in the oil & gas industry, among others.

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The pure polyurea segment expected to dominate the market throughout the forecast periodBased on product, the global polyaspartic coatings market has been segmented into pure polyurea and hybrid polyurea. The pure polyurea of polyaspartic coatings accounted for approximately 54% of the share in the global polyaspartic coatings market in 2018. While hybrid polyurea accounted highest CAGR of around 9% in the global polyaspartic coatings market during the forecast period. Hybrid polyurea is widely adopted for its easy availability and low cost.

These benefits are expected to enhance the demand and sales for hybrid polyurea across the developed and developing countries in the global market.Based on the systems, the quartz segment is expected to grow at a CAGR of around 10% throughout the forecast periodBased on the system, the market has been segmented into quartz, and metallic. The quartz Product systems segment accounts of the largest share in the market and are expected to grow at a CAGR of around 10% during the forecast period. Based on the end-use industry, the building & construction segment is expected to dominate during the forecast periodBased on the end-use industry, the market has been segmented into building & construction and transportation among others.

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The building & construction segment accounts of the largest share in the market and held for more than 30% of the total market in 2018. The major factors that are driving the growth of this segment are the rising rate of infrastructure development across developing countries such as India, China, and Indonesia. Asia-Pacific to dominate the polyaspartic coatings market throughout the forecast periodAsia-Pacific accounted for nearly 36% share of the global polyaspartic coatings market in 2018 and is expected to dominate the market throughout the forecast period.

The rapid growth in the building & construction sector is one of the major driving factors for the region in the global market. Moreover, the increasing awareness for hybrid polyaspartic coatings and the presence of local manufacturers increases its dominance in the global polyaspartic coatings market in the future. North America is expected to hold the highest CAGR in the global market during the forecast period.

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The manufacturers are investing in North American countries to meet the demand for the transportation sector. Company Profiles and Competitive Intelligence:The major players operating in the global polyaspartic coatings market are Covestro AG (Germany), Hempel Group (Denmark), The Sherwin-Williams Company (US), Rust-Oleum (US), Laticrete (US), PPG Industries (US), BASF SE (Germany), AkzoNobel (Netherlands), SIKA AG (Switzerland), and Satyen polymers (India) among others.

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