Transparency Market Research in one of its latest
reports reveals the global polyaspartic coatings market to be largely
consolidated led by a handful of players. The intense competition in
the market has compelled players to introduce differentiator
products. Mergers and acquisitions and strategic alliances are also
key growth strategies adopted by companies in this market.
Prominent participants in the polyaspartic
coatings market include Akzo Nobel N.V., PPG Industries, Sika
Corporation, The Sherwin Williams Company, Covestro AG, Cipy
Polyurethanes Pvt. Ltd., and Rust-Oleum Corporation.
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As per estimations of a TMR report, the global
polyaspartic coatings market will clock a CAGR of 6.6% between 2016
and 2025, for the demand in the market to be worth US$819.0 mn by the
end of 2025. The market was valued at US$463.5 mn in 2016.
Based on technology, solvent based is currently
the leading segment. However, water based technology is likely to
emerge as a key segment in the upcoming years. Construction and
transportation are the leading end-use segments of polyaspartic
coatings market. Vis-à-vis volume, North America held a significant
share in the polyaspartic coatings market in 2016. Driven by the
growth in the U.S., the region is anticipated to retain its dominant
position over the forecast period.
Attributes of Corrosion Prevention Make
Polyaspartic Coatings Preferable for Harsh Environments
Despite being a new product in the paints &
coating market, the demand for polyaspartic coatings is gaining
momentum, says a TMR analyst. Polyaspartic coatings display features
of high durability and hardness that make them preferable over other
coatings such as epoxy and polyurethane. Polyaspartic coatings occur
as a 2-part system, and are derived by mixing resin with a catalyst
in order to initiate a curing reaction that leads to hardening of the
materials. Reduced drying times, odorless, long pot life, greater
film thickness, low color values, and high compatibility with most
surfaces are some other features of polyaspartic coatings that make
them preferable over other coatings for concrete floor applications.
Polyaspartic coatings based flooring safeguards against corrosion for
bridges and other harsh environments. Commercial kitchens, retail,
shop floors, garage floor, and industrial and manufacturing
facilities are some other key application areas of polyaspartic
coatings.
Protection of Core Components Boosts Adoption
in Construction Sector
The recovery of the world’s construction
industry is also fuelling demand for polyaspartic coatings globally.
Today, the escalating number of high-rise buildings and modern
residential units that employ high-quality products is having a
positive impact on ancillary industries. Polyaspartic coatings offer
excellent durability with color and gloss retention that make them
preferred over other coatings. Polyaspartic coatings are primarily
used for the protection of steel and concrete in construction
undertakings.
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Polyaspartic coatings are also manufactured by
carrying out polymeric condensation of ammonia and maleic anhydride
in the presence of a polar solvent sans active hydrogen to produce
polysuccinimide. The hydrolyzing of polysuccinimide results in
polyaspartic coatings. Polyaspartic coatings several attractive
properties such as UV stability and high abrasion resistance. They
can be applied in multiple layers which make them different from
commonly used coatings such as polyurethanes and epoxy.
The review presented here is based on the findings
of a TMR report, titled “Polyaspartic Coatings Market (Technology -
Water, Solvent, and Powder; End-user - Construction (Residential,
Commercial and Industrial), Transportation (Automotive and Rail Car),
and Power Generation) – Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2017–2025.”
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