Polyaspartic Coatings Market
Polyaspartic Coatings Market By Technology (Water-based, Solvents-based, Powder-based Polyaspartic Coatings), By End-use Industry (Construction, Transportation, Power Generation) & By Region - Global Insights to 2031
Market Outlook for Polyaspartic Coatings
Polyaspartic coatings revenue is expected to total US$ 335 Mn for 2021, according to Fact.MR. In the long-run, the market is expected to reach US$ 572 Mn by 2031, expanding 1.7x. Demand for water-based coatings will accelerate, with top 5 providers holding 40% of market revenue.
Attributed to its exceptional properties such as durability, flexibility, and high resistance polyaspartic coatings are gaining extensive popularity across diverse end-use industries, starting from construction to power generation worldwide.
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Key Points Covered in Polyaspartic Coatings Industry Survey
- Market Estimates and Forecasts 2016-2031
- Key drivers and restraints shaping market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Polyaspartic Coatings Market and How to Navigate
- Recommendation on a Key Winning Strategy.
Sales Analysis of Polyaspartic Coatings 2016-2020 Vs Outlook 2021-2031
According to Fact.MR- a market research and competitive intelligence provider- polyaspartic coatings demand expanded at around 4% CAGR across the 2016-2020 historical period, reaching US$ 317 Mn in 2020.
Prospects dipped in the first half of 2020, attributed to the recessionary impacts ushered in by the COVID-19 pandemic. Cessation of manufacturing activities, as well as sluggish outlook across major end use industries stalled demand. Fortunately, recovery has been witnessed since the Q4 of 2020, aiding in the progress of manufacturers.
The global market is projected on a positive trajectory, following a 5.5% CAGR across the 2021-2031 forecast period. Manufacturers are seeking to penetrate markets in Asia, spurred by augmented research and development operations for high performance and eco-friendly protective coatings for end-use industries such as automotive, marine, and power generation.
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What are the Factors Driving the Demand for the Polyaspartic Coatings Market?
Backed by latest innovation and emerging demand for improved products, polyaspartic coatings exhibit progressive growth potential in upcoming future. Soaring construction activities along with increased product awareness are boosting the demand for polyaspartic coatings in world market.
Further, polyaspartic coatings deliver fast curing as compared with regular coatings made of epoxy and polyurethane which will further gush the demand in emerging countries like China and India.
Owing to increasing environmental concerns, water-based paints and coating formulations is expected to bode well for solvent-based technology in the forthcoming future.
Considering the factors such as greater film thickness, low color values, less drying time, odorless, long pot-life, and exceptional compatibility with typically all the surfaces make these products ideal for concrete floor applications, thereby swelling the product demand across the world.
How is the Construction Industry Impelling Polyaspartic Coatings Demand?
Polyaspartic coatings are widely deployed across the construction industry, primarily used for bridge construction, commercial architecture, parking decks, floor & roof coating, concrete repair and structural bonds.
Being an integral part of construction flooring, interior and exterior infrastructure, architectural sector, and others, owing to their abrasion- and chemical-resistant properties, recovery of the construction industry is predicted to create new growth prospects for polyaspartic coatings manufacturers.
In addition, these coatings are utilized as topcoats, stone carpets, sealants and waterproofing material. The ever increasing scope of construction and infrastructure projects, particularly in countries such as China and India, will immensely broaden application prospects of polyaspartic coatings in the future.
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Why the Increased Emphasis on Environmentally Friendly Polyaspartic Coatings?
Development of eco-friendly, sustainable and high-solid (low-VOC) coatings have received a lot of attention due to environmental concerns and legislative issues. Hyperbranched polymers (HBPs) are suitable for low-VOC coating formulations as they exhibit a globular shape, high molecular mass at lower viscosity and high solubility.
HBPs can be designed based on specific needs and economically bulk synthesized. They can be further modified for useful applications and improve functionality.
Why is the U.S Fuelling Demand for Polyaspartic Coatings?
The United States is fostering the world’s largest polyaspartic coatings industry following the highest CAGR of 7.4% and is foreseen to sustain its position throughout the forecast period. Increasing investments have caused the fast recovery of construction and transportation industries, which will gradually boost the global sales of water-based polyaspartic coatings in the country.
The Associated General Contractors of America estimates that the U.S construction industry comprises over 7 million employees, generating nearly US$ 1.3 trillion worth of structures each year. Considering these aforementioned trends, polyaspartic coatings uptake is expected to take a turn for the better across the country.
How is China Yielding Growth Opportunities?
China emerged as the epicentre of the world’s fastest-growing polyaspartic coatings industry and is forecast to maintain its lead through 2031. Progressive transport and construction sectors coupled with growing inclination towards water-based polyaspartic coatings is boosting sales in China.
Moreover, the swelling awareness for hybrid polyaspartic coatings and the presence of local manufacturers reinforce its dominance in the global polyaspartic coatings market in the future.
Likewise, China recently launched the “New Infrastructure” campaign in order to offset the economic impact of the COVID-19 pandemic and boost sustainable growth. This explains why suppliers and manufacturers are eyeing China to increase their sales and profit margins.
China’s transport ministry and the National Development and Reform Commission (NDRC) has announced their plans to invest USD 72 billion to construct transportation projects, including railways, highways, waterways, airports, and urban rail. Fact.MR expects the Chinese market to capture nearly 60% of global polyaspartic coatings demand.
Why are Water-based Polyaspartic Coatings Gaining Traction?
The water-based technology is extensively used worldwide due to strict volatile organic compound (VOC) emission rules for solvent-based polyaspartic coatings. Additionally, environmental concerns regarding the use of solvents in coatings also intensify the demand for water-based technology.
According to Fact.MR, a CAGR of 5% is projected for this segment. In addition, a prospering ship-building industry across the military and commercial sectors, is ensuring escalated growth for the water-based polyaspartic coatings.
How Construction Industry is influenced by the Polyaspartic Coatings Market?
Polyaspartic coatings for the construction sector will account for over 50% of the global revenue share until 2031. Polyaspartic coatings reduces the time consumption and labor cost as it hardly takes 5 hours to coat a garage floor from start to finish which when compared to conventional coatings system is nearly 1/3rd of total curing time.
Henceforth, polyaspartic coatings might replace conventional coating technologies such as epoxy and polyurethane in the near future. Polyaspartic coatings are increasingly replacing two-layer systems of epoxy-based coat and urethane topcoats with one coat systems that provide fast curing and superior performance.
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.
- In November 2019, Chromaflo Technologies announced the release of its FLV series of colorants for tinting epoxy, polyurethane, and polyaspartic coatings. The FLV series is based on a sustainable binder that has been shown to improve coating properties such as early hardness and chemical and physical resistance.
- The technological development and commercialization of the FLV Series is a major step forward in supplying a high-performing colorant line for solvent-free epoxy, polyurethane, and polyaspartic coatings.
- In March 2017, Avery Dennison Corporation announced the completion of acquisition of Hanita Coatings, a pressure-sensitive materials manufacturer of specialty films and laminates, from Kibbutz Hanita and Tene Investment Funds.
|Market Size Value in 2021||USD 335 Million|
|Market Value Forecast in 2031||USD 572 Million|
|Growth Rate||CAGR of 5.5% from 2021 to 2031|
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
|Pricing||Available upon Request|
Key Segments Covered
- Water-based Polyaspartic Coatings
- Solvents-based Polyaspartic Coatings
- Powder-based Polyaspartic Coatings
End Use Industry
- Polyaspartic Coatings for Construction
- Polyaspartic Coatings for Transportation
- Polyaspartic Coatings for Power Generation
- Polyaspartic Coatings for Other End Uses
- FAQs -
As of 2020, sales of Polyaspartic coatings Market estimated to reach nearly US$ 317 Mn
From 2016 to 2020, sales of polyaspartic coatings expanded at approximately 4% CAGR
According to Fact.MR, polyaspartic coatings sales will surge at a CAGR of 5.5% until 2031
Soaring demand for green buildings in emerging countries such as India, China is expected to create lucrative opportunities for the market over the assessment period.
Rising construction activities along with increased product awareness are boosting the demand for polyaspartic coatings in world market.
According to Fact.MR, China will likely account for 3/5th of global polyaspartic coatings industry demand
Polyaspartic coatings sales in the U.S will likely register a CAGR of 7.4% until 2031
Water-based polyaspartic coatings are expected to grow at a CAGR of 5% from 2021 to 2031
The top 5 polyaspartic coatings manufacturers are likely to capture 40% of global revenue
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