Sales of Spray Polyurea Elastomers to Decline, on Back of Supply Chain Disruptions amid nCoV-19 Pandemic Outbreak
Polyurea is a newly used adhesive and sealant material, which has gained significant demand in the market for protective coatings. Polyurea finds application in areas and equipment that need to exhibit high tensile strength, high abrasion resistance, greater temperature limit, high permeability and impact resistance. It has the property to overcome these problems and provide increased life span for the equipment likely to be affected.
However, outbreak of nCoV-19 pandemic is adversely impacting the market for spray polyurea elastomers as a result of disrupted supply chain and ceased production activity. Furthermore, impact of soaring infections on vitality of the market is intensifying, resulting in a sharp fall in construction activities across the globe. The effect of this pandemic is expected to last for a minimum of three quarters of this year. The market is anticipated to make quick recovery in near term and is poised to grow at an impressive CAGR of 10.6% over the forecast period (2020-2030). By product, pure polyuria is projected to witness prolific growth over the forecast period. On the other hand, hybrid polyuria will capture a large chunk of market share through 2030.
Spray Polyurea Elastomers Market to Exhibit Surge in Demand for Aromatic Isocyanate based Products
Aromatic spray polyurea elastomers provide high variety, are cost competitive and do not support UV rays. Sloped roofs, terraces, balconies and overhangs, tanks and irrigation canals, coatings for bridges, swimming pools, aquariums and lakes, vehicles and boat coatings, etc. are common end-use application areas for aromatic spray polyurea elastomers. With ascending demand for aromatic isocyanate based spray, polyurea elastomers are expected to create an absolute $ opportunity of US$ 3.5 Bn by 2030. In contrast, aliphatic isocyanate based spray polyurea elastomers finds limited usage. Aliphatic spray polyurea elastomer technology possess many VOC problems, resulting in a declining market share.
APEJ to Account for more than One-Third of Total Market Share by 2030
APEJ is a rapidly growing market. This is attributed to various progressive economic trends, which are expected to drive future growth. Rapid increase in population and development of infrastructure industry provide larger scope for this market. Strategies to expand in this region by several growing industries is driving the market growth in this region. In a very short span of time, the spray polyurea elastomers market has witnessed intense competition, particularly in developed markets. This clearly indicates product preference among end users and rapid penetration. Furthermore, Latin America is expected to grow impressively. MEA, being a key exporter for oil and gas, provides increased use for primary and secondary containment across globe. Governments aiming to improve infrastructure and provision of increased durability for building and construction provides a positive role in driving the growth for spray polyurea elastomers.
Collaboration to Remain Key Players’ Strategy to Gain Access over Global and Regional Market
The global spray polyurea elastomers market is fragmented, dominated by various regional and global players. Companies, like Versaflex, invest in R&D to produce more efficient and economical Polyurea Elastomers, uplifting market growth. Furthermore, key players are collaborating with end-user industries to strengthen their supply chain and ensure availability of their product across globe. For instance, VersaFlex Incorporated announced that it has signed a co-labelling agreement with Renner Coatings for the Brazilian and Chilean markets. Effective immediately, Renner Coatings will have access to the full line of VersaFlex’s pure polyurea coatings, linings, sealants, and repair materials under the name RenFlex gaining market opportunities for Latin America.
“Targeted organic and inorganic strategies undertaken by the top players in market is projected to add value till 2030. Dedicated product launches towards protective coating and waterproofing applications along with partnerships have been the highlights of increased market penetration historically”, says the Fact.MR analyst.
About the Report
Fact.MR published an exclusive forecast report for spray polyurea elastomers market between 2020 and 2030. The foremost objective of this report on spray polyurea elastomers market is to pitch spearhead insights on market scenario, demand generators and technological advancements in the spray polyurea elastomers market. Also, the study on spray polyurea elastomers market addresses key dynamics, which are expected to diversify the sales and future prominence of spray polyurea elastomers market.
The report on spray polyurea elastomers market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of spray polyurea elastomers market elaborating on the key segments. Also, the report outlines visionary insights on dynamics spray polyurea elastomers market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for spray polyurea elastomers. Supply chain analysis and pricing analysis of spray polyurea elastomers market along with the difference between spray polyurea elastomers used as per applications have also been included in the report to help the readers clearly understand the product framework map in spray polyurea elastomers market.
Spray Polyurea Elastomers Market- Scope of the Report
The recent study by Fact.MR on spray polyurea elastomers market offers a 10-year forecast between 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of spray polyurea elastomers market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of spray polyurea elastomers. The study also provides dynamics that are responsible for influencing the future status of the spray polyurea elastomers market over the forecast period.
A detailed assessment of spray polyurea elastomers market value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the spray polyurea elastomers market along with their product portfolio enhances the reliability of this comprehensive research study.
Spray Polyurea Elastomers Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in spray polyurea elastomers market across the globe.
A comprehensive estimate on spray polyurea elastomers market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of spray polyurea elastomers during the forecast period. Price point comparison by region with global average price is also considered in the study.
Spray Polyurea Elastomers Market Segmentation
Fact.MR has studied the spray polyurea elastomers market with detailed segmentation on the basis of product type, application, raw material and key regions.
|
Product Type |
Application |
Raw Material |
Region |
|
Pure Polyurea |
Roof and Deck Coating |
Aromatic Isocyanate based |
North America |
|
Hybrid Polyurea |
Primary Containments |
Aliphatic Isocyanate based |
Latin America |
|
|
Secondary Containments |
Europe |
|
|
|
Wear Resistant Lining |
|
Japan |
|
|
|
Asia Pacific Exc. Japan |
|
|
|
MEA |
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Spray Polyurea Elastomers Market: Analysis on Market Size Evaluation
Spray polyurea elastomers market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for spray polyurea elastomers is available in terms of “US$ Mn” for value and in “Tons” for volume. A Y-o-Y growth contrast on prominent spray polyurea elastomers market segments, along with market attractiveness evaluation has been incorporated in the report. Furthermore, the absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a service provider can look to achieve along with identifying potential resources, considering distribution perspective in the global spray polyurea elastomers market.
Spray Polyurea Elastomers Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the spray polyurea elastomers report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of spray polyurea elastomers market during the forecast period.
Country-specific valuation on demand for spray polyurea elastomers has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Spray Polyurea Elastomers Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of spray polyurea elastomers along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of the spray polyurea elastomers, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which includes essentials such as product portfolio, key strategies along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition level in spray polyurea elastomers market. Prominent service providers with established market presence in global spray polyurea elastomers market are Sherwin Williams, SIKA AG, AXALTA Coating Systems, Huntsman Corporation, BASF SE, Krypton Chemicals and Rhino Linings.
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Spray Polyurea Elastomers Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030