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.
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.
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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.
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.
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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.
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.
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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.
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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
Polyaspartic Coatings Market- Scope of Report
A recent study by Fact.MR on the polyaspartic coatings market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging associated with the manufacturing of the polyaspartic coatings.
The study also provides the dynamics responsible for influencing the future status of the Polyaspartic coatings market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the polyaspartic coatings market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers a comprehensive analysis of diverse features, including production capacities, demand, product developments, revenue generation, and sales of the Polyaspartic coatings Market across the globe.
A comprehensive estimate of the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the Polyaspartic coatings Market during the forecast period. Price point comparison by region with the global average price is also considered in the study.
Key Questions Answered in Report
- Which is the most lucrative polyaspartic coatings markets?
- Which factors will impact the growth of the Polyaspartic coatings market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the Polyaspartic coatings industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for the polyaspartic coatings market are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, 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 manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global polyaspartic coatings market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which has helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the polyaspartic coatings market during the forecast period.
Country-specific valuation on demand for polyaspartic coatings has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions ad countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of polyaspartic coatings, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering polyaspartic coatings have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which includes essentials such as product portfolios and key strategies, along with an all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the polyaspartic coatings domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the polyaspartic coatings market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the draw conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- 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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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.