According to estimates of Fact.MR in its new research analysis, the global market for spray polyurea elastomers will reflect an impressive 9.6% volume CAGR during the period 2017 to 2026. Nearly US$ 2,760 Mn worth of spray polyurea elastomers are envisaged to be sold across the globe by 2026-end. Analysis on Sherwin Williams, Huntsman Corporation, Specialty Products Inc., and other prominent participants operating in the global spray polyurea elastomers has been incorporated in the report.
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Corrosion protection and abrasion resistance attributes of spray polyurea elastomers have been driving their demand in mining-related equipment and facilities. Erosion protection, waterproofing, and concrete surface protection are other key characteristics of polyurea that have fuelled their adoption in the construction sector. With robust balance sheets across the mining sector, miners in North America are adhering to an investment-led approach, which in turn has given birth to a renewed focus on constructing portfolios that lead to sustainable shareholder returns.
President Trump’s recent orders for reducing the dependency on imported imperative minerals is highly likely to spark activity by the U.S. miners for considering exploration assets both inside and outside of the region, along with upstream & downstream collaborative ventures. In addition, major mining companies are eyeing investment in Canada’s gold mining sector that provides immense government support and a favorable macroeconomic environment.
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Hybrid Polyurea to Account for Bulk Market Share in Light of its Multi-purpose Attributes
Revenues from hybrid polyurea are expected to account for bulk share of the spray polyurea elastomers market throughout the forecast period. Hybrid polyurea delivers long-life, high-build protective coating to metal substrates and concrete used in major commercial, infrastructure, and civil construction projects.
Hybrid polyurea forms an impenetrable barrier, which is resistant to several chemicals as well as water. With inherent properties such as preventing corrosion and outlasting paints, this multi-purpose elastomer is perceiving an enormous demand from fuel containments, chemical tanks, and metallic pipelines applications.
Key producers of specialty coatings have been taking efforts for the development of cost-effective, one-step remedy for waterproofing and concrete resurfacing. For example, Specialty Products Inc., which has witnessed continues success in the region, has recently launched an innovative one-step waterproofing and concrete resurfacing solution, called Aquaseal Hi-Rise X3™.
North America is foreseen to lead the global spray polyurea elastomers market on account of flourishing mining and construction industries in the U.S. The Canadian economy also offers a favorable environment for growth of these sectors, driven by government support and investments in infrastructure development. This will further rub off on demand for spray polyurea elastomers in waterproofing and wear-resistant coating applications.
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