The global spray polyurea elastomer was valued at $669.3 million in 2023, and is projected to reach $900.3 million by 2033, growing at a CAGR of 3.1% from 2024 to 2033.
Spray polyurea elastomer is a polymer coating that exhibits high flexibility, durability, and curing properties, which make it crucial across construction, automotive, industrial, and marine industries. This elastomeric material is applied through a spray process, creating a seamless and resilient protective layer against water and corrosion, thereby enhancing the longevity of structures and equipment.
The growth of the global spray polyurea elastomer is primarily driven by the expansion of the automotive and industrial sectors. This is attributed to the fact that spray polyurea elastomers possess water resistance and adhesion properties, which make it suitable for use in automotives. However, fluctuations in prices of raw materials such as polyols and isocyanates, which are essential components used in the production of spray polyurea elastomer, hamper the growth of the global market. Contrarily, continuous R&D to develop inexpensive spray polyurea elastomer with enhanced efficiency is expected to offer remunerative opportunities for the expansion of the global market during the forecast period. For instance, scientists in the at the University of Illinois developed a polymer with self-healing property. The polymer - made using commercially available compounds, including polyurea elastomer - melds back together after being cut in half without the use of any catalyst or other chemicals. The researchers tweaked the structure of its molecules to strengthen the bond between them, making the molecules easier to pull apart as well as to bond them back together.
The global spray polyurea elastomer (SPUA) market is segmented into type, application, by end-use industry, and region. Depending on type, the market is bifurcated into universal and waterproof. By application, it is classified into industrial anti-corrosion, building waterproofing, wear-resistant lining, and others. On the basis of end-use industry, it is fragmented into automotive, marine, construction, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Depending on application, the building waterproofing segment was the major shareholder in 2023 and is expected to continue the same trend in the coming years.
On the basis of end-use industry, the construction segment dominated the market in 2023, in terms of share, and is expected to maintain its leadership status throughout the forecast period.
Region wise, Asia-Pacific registered the fastest growth rate in 2023.
Spray polyurea elastomer is a polymer coating that exhibits high flexibility, durability, and curing properties, which make it crucial across construction, automotive, industrial, and marine industries. This elastomeric material is applied through a spray process, creating a seamless and resilient protective layer against water and corrosion, thereby enhancing the longevity of structures and equipment.
The growth of the global spray polyurea elastomer is primarily driven by the expansion of the automotive and industrial sectors. This is attributed to the fact that spray polyurea elastomers possess water resistance and adhesion properties, which make it suitable for use in automotives. However, fluctuations in prices of raw materials such as polyols and isocyanates, which are essential components used in the production of spray polyurea elastomer, hamper the growth of the global market. Contrarily, continuous R&D to develop inexpensive spray polyurea elastomer with enhanced efficiency is expected to offer remunerative opportunities for the expansion of the global market during the forecast period. For instance, scientists in the at the University of Illinois developed a polymer with self-healing property. The polymer - made using commercially available compounds, including polyurea elastomer - melds back together after being cut in half without the use of any catalyst or other chemicals. The researchers tweaked the structure of its molecules to strengthen the bond between them, making the molecules easier to pull apart as well as to bond them back together.
The global spray polyurea elastomer (SPUA) market is segmented into type, application, by end-use industry, and region. Depending on type, the market is bifurcated into universal and waterproof. By application, it is classified into industrial anti-corrosion, building waterproofing, wear-resistant lining, and others. On the basis of end-use industry, it is fragmented into automotive, marine, construction, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
By type, the waterproof concrete segment held the highest market share in 2023 and is anticipated to maintain its leadership status throughout the forecast period.Depending on application, the building waterproofing segment was the major shareholder in 2023 and is expected to continue the same trend in the coming years.
On the basis of end-use industry, the construction segment dominated the market in 2023, in terms of share, and is expected to maintain its leadership status throughout the forecast period.
Region wise, Asia-Pacific registered the fastest growth rate in 2023.
Competition Analysis
The competitive analysis and profiles of the major players in the global spray polyurea elastomer include Johnson Fine Chemical Co., Taiwan PU Corporation, Pearl Polyurethane Systems LLC, Shundi new material (Shanghai) Co., Ltd, Specialty products (SPI), Nukote Coating Systems, PPG Industries, Inc., Futura Europe, SWD POLYURETHANE (SHANGHAI) CO., LTD., and Perflex Group These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Type
- Universal
- Waterproof
By Application
- Industrial Anti-Corrosion
- Building Waterproofing
- Wear-Resistant Lining
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of LAMEA
- Johnson Fine Chemical Co.
- Taiwan PU Corporation
- Pearl Polyurethane Systems LLC
- Shundi new material (Shanghai) Co., Ltd
- Specialty products (SPI)
- Nukote Coating Systems
- PPG Industries, Inc.
- Futura Europe
- SWD POLYURETHANE (SHANGHAI) CO., LTD
- Perflex Group
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: SPRAY POLYUREA ELASTOMER (SPUA) MARKET, BY TYPE
CHAPTER 5: SPRAY POLYUREA ELASTOMER (SPUA) MARKET, BY APPLICATION
CHAPTER 6: SPRAY POLYUREA ELASTOMER (SPUA) MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
Key Market Players in the Spray Polyurea Elastomer Market include:- Johnson Fine Chemical Co.
- Taiwan PU Corporation
- Pearl Polyurethane Systems LLC
- Shundi new material (Shanghai) Co., Ltd
- Specialty products (SPI)
- Nukote Coating Systems
- PPG Industries, Inc.
- Futura Europe
- SWD POLYURETHANE (SHANGHAI) CO., LTD
- Perflex Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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