(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Polyurea Coatings Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Polyurea Coatings Market products.
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Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
The Polyurea Coatings Market is expected to grow at a significant CAGR during the forecast period. Increasing demand for commercial and personal electric vehicles around the globe is anticipated to drive the growth of the MARKET over the forecast period. According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
A report on Polyurea Coatings Market has recently been added into the market research report database of Kenneth Research, which provides a full assessment to its readers on the growth prospects of the market, along with the potential business opportunities in the industry. The study, which focuses on the latest trends, business dynamics, growth opportunities and drivers that are influencing the market growth, also includes the market size and the compounded average growth rate (CAGR) for the forecast period 2021 and 2025. The report on Polyurea Coatings Market also includes comprehensive analysis on both the macro- and micro-environmental factors that may influence the market growth during the forecast period. Additionally, analytical tools such as PESTEL analysis and Porter's five forces analysis are used to calculate and compile the factors that are acting as the driving force for the growth of the market.
Global Polyurea Coatings Market was valued at USD 748Million in the year 2018. Global Polyurea Coatings Market is further estimated to grow at a CAGR of 13.5% from 2019 to reach USD 1809 Million by the year 2025. North America region holds the highest Market share and the Asia Pacific is considered as the fastest growing Market in the forecasted period. At the country level, Canada and Mexico are projected to grow strongly in the coming years.
Major market players in Polyurea Coatings Market are VersaFlex Inc., PPG Industries Inc., Sherwin-Williams Company, Rhino Linings Corporation, Kukdo Chemical Co. Ltd., Nukote Coating Systems, VIP GmbH, Specialty Products Inc., Albemarle Corporation, Huntsman Corporation, Covestra AG, BASF SE, Duraamen Engineered Types Inc., and Zhuhai Feiyang Novel Materials Corporation Limited.
The polyurea coating Market classified on the bases of type, raw material, technology, application, and region. Based on the type, the polyurea coating Market divided into pure polyurea and hybrid polyurea. Based on application, the polyurea coating Market divided into building & construction, industrial, transportation and landscape. Building and construction dominate the Market compared to others because of increasing the demand for waterproof buildings.
Based on raw material, the global polyurea coating Market divided as aromatic isocyanate and aliphatic isocyanate. Based on technology, the polyurea coating Market divided into spraying, pouring, hand mixing of which spraying application holds the highest Market share in 2018 and is expected to grow with highest CAGR of XX% in the forecasted period.
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SWOT analysis of Polyurea Coatings Market
Strength:
Growing use in end-user Market
Technological advancement
Weakness:
High R & D investment and cost
Opportunities:
Growing popularity and application
Threats:
Environmental regulations
Available substitute products
Polyurea Coatings Market Segmentation
Polyurea Coatings Market Overview, By Raw Material
*Aromatic Isocyanate
*Aliphatic Isocyanate
Polyurea Coatings Market Overview, By Type
*Pure Polyurea
*Hybrid Polyurea
*By Technology
*Spraying
*Pouring
*Hand Mixing
Polyurea Coatings Market Overview, By Application
*Building & Construction
*Transportation
*Industrial
*Landscape
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Polyurea Coatings Market Overview, By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Reasons to Purchase this Report
*Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
*Provision of market value (USD Billion) data for each segment and sub-segment
*Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
*Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
*Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
*Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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