DUBLIN--(BUSINESS WIRE )--The "Polyaspartic Coatings Market by Type (Pure Polyurea, Hybrid Polyurea), Systems (Quartz, Metallic), End-use Industry (Building & Construction, Transportation, Industrial, Power Generation, Landscape), Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The polyaspartic coatings market is estimated at USD 358 million in 2018 and is projected to reach USD 521 million by 2023, at a CAGR of 7.8% between 2018 and 2023.

The market is driven by factors such as these polyaspartic coatings being durable and formulated to meet essential characteristics such as resistance to humidity, fast curing time, smooth surface finish, chemical & abrasion resistance, excellent adhesion, and other mechanical & physical properties required in various applications as the building & construction, transportation, industrial, and power generation sectors.

Polyaspartic coatings are more expensive than their substitutes such as epoxy and polyurethane coatings. This increased cost is due to the high prices of raw materials, the cost involved in developing aliphatic polyurea systems, and high investments made by manufacturers in R&D to develop the product. Also, the need for skilled workforce during formulation and operation increases the cost of its application. Thus, the high cost acts as a major restraint to the demand for polyaspartic coatings. However, increasing awareness of polyaspartic coatings is a major opportunity for various market players.

Building & construction end-use industry is expected to register the highest CAGR in the global polyaspartic coatings market during the forecast period.

Polyaspartic coatings are widely used in the building & construction industry. Their application areas include bridge construction, commercial architecture, floor & roof coating, caulks, joint fill, parking decks, concrete repair, and structural bonds. Polyaspartic coatings are used as topcoats, stone carpets, sealants, and waterproofing. The use of polyaspartic coatings in infrastructure is increasing because they have good wear, abrasion, and weather resistance. Polyaspartics are available in high-solid formulations. In order to meet VOC regulations, improve aesthetic appeal and corrosion control, they are used as topcoats.

Pure polyurea segment is expected to register the highest CAGR in the global polyaspartic coatings market during the forecast period.

Pure polyurea coating is a result of the chemical reaction of isocyanates and amine-terminated resins. Pure polyurea plays a vital role in determining the properties of the final coated surface. These systems serve a wide variety of applications including coating or lining applications over substrates such as concrete or metals to protect them from corrosion. The main advantages of pure polyurea over hybrid polyurea are rapid reactivity, better chemical & mechanical resistance, high resistance to tearing, better abrasion & impact resistance, and resistance to water.

The leading players in the polyaspartic coatings market are Covestro AG (Germany), The Sherwin-Williams Company (US), PPG Industries (US), BASF SE (Germany), AkzoNobel (Netherlands), Hempel Group (Denmark), Rust-Oleum (US), Laticrete (US), SIKA AG (Switzerland), Satyen polymers (India), and VIP Coatings (Germany).

For more information about this report visit https://www.researchandmarkets.com/r/ojfmt3

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 Related Topics: Paints and Coatings

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 Related Topics: Paints and Coatings