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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Polyurea Market Share
The growing demand for hybrid polyurea, a mixture of polyurethane and polyurea with properties halfway between polyurethane and pure polyurea, is one of the major factors driving the polyurea market revenue, due to their advanced adhesion to metallic and concrete surfaces and high abrasion resistance. Additionally, the affordable nature of these products is also increasing their utilisation for commercial and industrial applications.
Another crucial trend aiding the polyurea market growth is the rapid growth of the transportation sector. Polyurea is used in the automotive sector because of its properties such as impact resistance and as a bed liner in material handling trucks and large commercial vehicles.
Polyurea Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of approximately USD 1,075.38 million in 2023.
The market is estimated to grow at a CAGR of 6.3% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 1,870.56 million by 2032.
The major market drivers include booming construction industry and rising applications of polyurea in sealants and adhesives as bonding agents.
The key trends fuelling the growth of the market include rising adoption of polyurea by defence and security sectors, growing utilisation of hybrid polyurea products, and the rapid growth of the automotive industry.
Polyurea offers significant mechanical strength, high abrasion resistance, and impact resistance.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market is categorised according to the product, which includes coating, lining, and adhesive and sealants, among others.
The primary applications of polyurea include construction, industrial, and transportation, among others.
The market key players are BASF SE, Huntsman International LLC, Covestro AG, The Dow Chemical Company (Dow Inc.), Citadel Floor Finishing Systems, PPG Industries, Inc., VersaFlex Incorporated, Shundi New Material (Shanghai) Co., Ltd, Teknos Group, and Line-X LLC, among others.
Based on the raw material, the market is divided into aromatic and aliphatic.
Based on the type, the market is divided into hot polyurea and cold polyurea.
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