Global Polyurea Market Revenue is Estimated to Reach $1352 Million in 2023

Polyurea is a polymer elastomer material composed of isocyanates, polymer resins, pigments, additives, etc. It has good wear resistance, corrosion resistance, impact resistance, and insulation properties, and is widely used in fields such as construction, automotive, transportation, aerospace, etc.

Analysis of the segmented market for polyurea

According to their properties and uses, polyurea products are usually divided into three categories: polyurea coatings, polyurea linings, and polyurea sealants. Among them, polyurea coatings are the most widely used and occupy a dominant market position. According to our research data, the global sales of polyurea coatings are expected to reach 135.9k tons in 2023, accounting for an estimated 66.73% of the total sales.

From the perspective of downstream application patterns, the construction industry is the largest downstream application market for polyurea, mainly due to the high demand for materials such as waterproofing, anti-corrosion, and wear resistance in the construction industry. Data shows that the sales volume of polyurea in the construction industry is expected to reach 84.4k tons in 2023, accounting for an estimated 41.45% of the total sales.

From the development situation of various regions, the Asia-Pacific region is the largest consumer market for the global polyurea industry. According to our data, the sales of polyurea in the Asia-Pacific region are expected to reach 77.1k tons in 2023, accounting for an estimated 37.85% of the global total sales.

Polyurea Sales and Share Forecast by Type, Application, and Region in 2023

	Sales (K tons)	Sales Share
Segmented by Type
Coatings	135.9	66.73%
Linings	30.7	15.09%
Sealants	37.0	18.18%
Segmented by Application
Industrial	57.3	28.12%
Construction	84.4	41.45%
Transportation	43.4	21.29%
Others	18.6	9.14%
Segmented by Region
North America	63.4	31.12%
Europe	49.2	24.15%
Asia Pacific	77.1	37.85%
South America	7.6	3.73%
Middle East & Africa	6.4	3.14%

Source: www.globalmarketmonitor.com

Development Overview and Competitive Pattern Analysis of Global Polyurea Market

Based on our research data, the total revenue of the global polyurea market is expected to reach $1352 million in 2023 and may continue to increase to 1496 million by 2025. From the perspective of market competition, the concentration of the global polyurea market is relatively low. Data shows that in 2020, the top 3 companies in the industry achieved a total revenue of $283 million in the polyurea market, with a total market share of 25.82%. The top three companies were BASF, Covestro, and Huntsman. In 2020, these three companies accounted for 9.76%, 8.85%, and 7.03% of the global polyurea market revenue, respectively.

Global Polyurea Market Revenue Forecast and Competition Pattern Analysis