The polyaspartic coatings market is estimated at USD 329 million in 2020 and is projected to reach USD 388 million by 2025, at a CAGR of 3.4% between 2020 and 2025. The major driving factors for the market are the increased productivity and cost efficiency along with better properties compared to epoxy- and polyurethane-based coating technology act as a major driver for the market. Polyaspartic coatings are widely used for corrosion resistance and construction applications.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164349114
The leading players in the polyaspartic coatings market are The Sherwin-Williams Company (US), PPG Industries (US), BASF SE (Germany), AkzoNobel (Netherlands), Hempel (Denmark), Carboline (US), Rust-Oleum (US), Laticrete International (US), SIKA AG (Switzerland), Feiyang Protech (China), Indmar Coatings (US), Satyen Polymers (India), and VIP Coatings (Germany). These players adopted expansions, acquisitions, new product development, and agreements as their key growth strategies between 2017 and 2020, which helped them increase their capacities and cater to the widening customer base.
The global polyaspartic coatings market will be impacted by the COVID-19 pandemic and is estimated to see a slump of 10.3% in 2020, in terms of value. The intensity of the impact of COVID-19 varies in different countries. The demand for polyaspartic coatings in end-use industries has contracted due to lockdown measures, supply chain disruptions, and increasing unemployment, which leads to lesser public spending. In some countries, the construction sector has been exempted from lockdown; this has reduced the impact of COVID-19 on the demand of polyaspartic coatings in the buildings & construction segment in certain countries.
The companies have initiated the following developments:
- In May 2020, Hempel began construction of a new factory in Yantai Chemical Industrial Park, China. The new factory will help meet the increasing demand for more sustainable and innovative coating solutions in the region. The company will invest USD 100 million for the construction of the new factory.
- In August 2020, The Sherwin-Williams Company has launched Environlastic 2500 for structural and steel protection. It is used in bridges, highways, large manufacturing plants, ports, and machinery. It offers a life of 25 years.
- In December 2019, The Sherwin-Williams Company has announced the opening of a new 4,200-square-feet store in Alexandria Bay, New York, US.
- In August 2019, The Sherwin-Williams Company has acquired the business and assets of Dresdner Lackfabrik Novatic (Germany) in Germany, Poland, and the Czech Republic. It is a company that manufactures paints and coatings solutions. This company has polyaspartic coatings in its product portfolio.
Request Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=164349114
According to market analysis, the Asia-Pacific (APAC) region is expected to dominate and account for the largest share in the polyaspartic coatings market. This indicates that APAC will play a significant role in the production and consumption of polyaspartic coatings, likely due to factors such as increasing industrialization, infrastructure development, and a growing demand for durable and high-performance coatings in the region. The specific reasons behind this trend may include the construction industry boom, increased automotive production, and various other applications benefiting from the advantages of polyaspartic coatings, such as rapid curing and excellent durability.
Read Our Trending Press Release Below:
Rheology Modifiers Market – Global Forecast to 2024
Medical Foam Market – Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/polyaspartic-coating-market-164349114.html#:~:text=%5B170%20Pages%20Report%5D%20The%20market,aliphatic%20polyisocyanates%20to%20form%20polyaspartics.