Global Polyaspartic Coatings Market Is Predicted to Value Over USD 680 Million by 2026 End

  • 01 Jul 2019

Global Polyaspartic Coatings Market is predicted to value over USD 680 million by 2026 end and record a CAGR of over 6.3% during the forecast period of 2019 to 2026.  

Market Introduction:
The construction sector has been on a rise in recent times. Polyurethanes and epoxy coatings that are commonly used for coating construction components are less durable and hard when compared to polyaspartic coatings. Furthermore, they are also corrosion-resistant which makes them susceptible to harsh environments. 

Market Drivers and Restraints:
The growing number of modern residential units and skyscrapers and the employment of coatings of high quality for protecting core components are some of the factors that are driving the Polyaspartic coatings market worldwide. Applying polyaspartic coatings is a time-saving and cost-saving process when compared to conventional coatings and these factors will surely drive forward the global market during the forecast period.

Insights on Global Polyaspartic Coatings Market:
1.    By Region

•    North America
•    Europe
•    Asia Pacific
•    Rest of the World

North America currently holds the major market share and it is expected that it will continue to dominate the market during the forecast period. The key factors for adopting polyaspartic coatings are stringent construction regulations and prioritizing the reduction of VOC emissions. The Asia Pacific and Europe are experiencing a rise in demand for polyaspartic coatings since 2016. Moreover, the ever-expanding automotive sector in India, Malaysia, China, Thailand, Indonesia and Vietnam is likely to increase the exigency for polyaspartic coatings during the forecast period. 

2.    By Technology
•    Solvent Based
•    Water-Based
•    Powder Based
Solvent-based technology segment dominates the market as of now. However, it is predicted that water-based will surpass the solvent-based technology during the forecast period and the primary reason for this to happen is the strict VOC emission regulations. Concern for the environment is another key factor responsible for the rise in demand for water-based paint. Powder-based technology, on the other hand, is predicted to hold a small market share during the forecast period. 

3.    By End-User
•    Construction
o    Residential
o    Industrial
o    Commercial

•    Power Generation

•    Transportation
o    Automotive
o    Railcar
o    Others

The construction sector has a huge requirement for eco-friendly products that don’t discharge toxic gases in the environment. There is a huge demand for LEED and BREEAM-certified buildings which will be a propelling factor for the polyaspartic coatings market globally. Polyaspartic coating is also applied on automobiles for slowing down the process of deterioration and increase their longevity which will help drive the market even further. Furthermore, power sector possesses a significant market share and the reason behind this is the attribute of corrosion resistance that polyaspartic coatings offer along with a reduction in maintenance costs making them suitable for offshore wind turbine blades, power equipment, wind tower and many more.

Competitive Landscape: 
•    Akzo Nobel N.V
•    PPG Industries
•    Sika Corp. 
•    The Sherwin Williams Company
•    Covestro AG
•    Rust-Oleum Corp.

Covestro’s Pasquick polyaspartic coating technology has a variety of benefits like it is cost efficient and it saves time as it provides a same level of protection any conventional coating will do but with a layer less applied. Hempel A/S used Pasquick to use it as a topcoat along with a zinc epoxy primer which has now become an industry standard. Enercon Windtower Production (EWP) was the end client and Midroc Alucrom AB were the contractors who assigned this project to Hempel in order to speed up the coating process. 

The Sher-Williams company emphasizes more on the research and development in coating technology and by acquiring Valspar, they have started their operations with 84 distribution and manufacturing facilities. They recently launched EnviroLastic which can be used to resist mildew, molds and fungus in storage tanks due to its anti-microbial characteristics. They signed an agreement with Axalta Coatings in April 2017 to sell some of the Valspar’s North American industrial woods coatings business assets to Axalta for USD 420 million 

PPG industries have reduced their carbon emission by 25% and energy usage by 22% by using polyaspartic coatings. They introduced the Kwikspar 600SG and Kwikspar 600 polyaspartic coating range in 2017 which is a fast curing, corrosion-resistant coating that can be used in structural components and steel buildings that require corrosion resistance.


FutureWise Key Takeaways:

•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study:

•    To provide with an exhaustive analysis on the global polyaspartic coatings market by region, by technology, by end-user
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific and rest of the world
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies 


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