Rise in the Construction Activities around the World Fuels Demand in the Polyaspartic Coatings Market

Products in the global polyaspartic coatings market are most commonly used in the building and construction industry. Some of the key applications for the products in the global polyaspartic coatings market in the building industry include bridge construction, roof and floor coating, joint fills, concrete repairs, structural bonds, commercial architecture, caulks, and parking decks.

Products in the global polyaspartic coatings market are used in the construction industry for various applications such as stone carpets, waterproofing agents, topcoats, and sealants. Rapid increase in the construction activities as well as increasing product awareness are expected to fuel the demand in the global polyaspartic coatings market in coming years.

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Products in the global polyaspartic coatings market feature a higher efficiency as compared to the traditional coating materials and technologies. This trend is expected to drive the growth in the global polyaspartic coatings market in coming years. The products in the global polyaspartic coatings market are fast curing, abrasion resistant, UV stable, more flexible than epoxies, and insensitive to moisture.

These qualities make products in the global polyaspartic coatings market a highly lucrative product in the construction industry. However, high cost of these products, as compared to the traditional coating materials, such as epoxy and polyurethanes may hinder the growth in the global polyaspartic coatings market in coming years.

Global Polyaspartic Coatings Market: Key Highlights

The global demand for polyaspartic Coatings stood nearly US$ 525 Mn in 2018 and is projected to reach over US$ 931 Mn by 2027. Increased awareness and a recovering construction industry are some of the factors improving the market scenario of polyaspartics globally. Thus, the polyaspartic coatings market expected to exhibit the highest growth rates over other coatings in the coatings market.
Polyaspartic coatings are a comparatively new product type of in the paints & coating market, and is gaining momentum across world. The coating is usually occur as a 2-part system, and is derived by mixing resin with a catalyst in order to initiate a curing reaction that leads to hardening of the materials. This imparts high durability and hardness to the polyaspartic coating resins. Reduced drying times, greater film thickness, odourless, low colour values, long pot life and high compatibility with most surfaces makes these coatings superior to their counterparts such as epoxy, polyurethane etc.
Easy availability of substitutes such as epoxy, polyurethane etc., volatility in raw material prices and low product awareness among consumer are some of the factors restraining the market.
Global Polyaspartic Coatings Market: Competition Landscape

Major players in the polyaspartic coatings market
Akzo Nobel N.V
The Sherwin Williams Company
PPG Industries
Covestro AG
Sika Corporation
Cipy Polyurethanes Pvt. Ltd
Rust-Oleum Corporation.
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Global Polyaspartic Coatings Market: Regional Insights

In 2018, North America was the leading consumer of polyaspartic coatings market followed by Asia Pacific. Stringent building regulations and a focus on reducing VOC emission have been major factors for the high adoption rate of polyaspartic coatings in North America. There is a higher emphasis on green building, energy saving, and superior waterproofing products due to the varying climatic conditions in the region.
Demand for polyaspartic coatings in Asia Pacific originates from new construction projects and refurbishment of existing buildings. Development programs regarding quality products and foreign direct investment (FDI) are boosting the housing and commercial sectors.
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