Latin America polyurea market presently holds share of over 6.4% owing to growth in automobile sales in the Brazil and Mexico

Latin America polyurea market presently holds share of over 6.4% owing to growth in automobile sales in the Brazil and Mexico. Likewise, strong presence of automotive manufacturing base in Mexico is likely to drive the market growth for polyurea. Over the years, the country has built up a robust automotive manufacturing ecosystem.

From a regional frame of reference, North America polyurea market will witness a growth of around 4% owing to rising oil & gas exploration activities. North America, led by the U.S. has increasingly been witnessing tremendous growth in oil exploration and production activities owing to the presence of vast oil and natural gas reserves in the region. Both U.S. and Canada have discovered significant oil & gas reserves that have allowed them to foray into the list of some of the world's top oil producing regions. in fact, in 2018, U.S. oil production was 12.04 million barrels per day with gross natural gas withdrawals reaching 108.56 Bcf/d.

The global polyurea market is expected to witness high growth on account of high demand from industrial, transportation, oil & gas, building and construction industries. Polyurea is a elastomer/coating that is derived through a reaction between an isocyanate component as well as a resin blend component. The material has exceptional physical properties that make it a highly innovative product.

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Polyurea-based coatings generally combine significant application properties like insensitivity to humidity, fast cure at temperatures below 0°C, along with excellent physical characteristics like chemical and water resistance, tear & tensile strength, constant flexibility, hardness, abrasion, and high bond strength.

The polyurea market is likely to witness tremendous gains owing to the exceptional film properties and specific curing profile. The polyurea spray coating technology has a tremendous application scope across numerous markets such as food processing and manufacturing, mining, civil infrastructure, transportation, and construction.

Successful polyurea coatings generally depend on a combination of four factors, which are an appropriate preparation of surface area, primer selection and polyurea formulation, professional equipment and lastly trained application teams. With proper application of these parameters, the exceptional benefits of the polyurea systems can be utilized correctly.

The global polyurea market is segmented in terms of raw materials, product, application, and regional landscape.

Based on application, the overall polyurea market is bifurcated into transportation, industrial, construction, and others. The others segment currently holds a share of over 7.5% and is likely to show similar growth trends over the forecast time period. In the maritime industry, polyurea is utilized for soundproofing hold and hull linings. Polyurea is also used in sports surfaces, loudspeaker coatings, bulletproof glass, foundation insulation, aquarium insulation, and armoring.

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