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Global Polyaspartic Coatings Market to Reach Valuation of US$ 931 Mn by 2027: TMR

Global Polyaspartic Coatings Market to Reach Valuation of US$ 931 Mn by 2027: TMR
 

• Properties of polyaspartic coatings such as enhanced film thickness, compatibility with most surfaces, and condensed drying time may paint colors of growth on the canvas of polyaspartic coatings market. 

• The global polyaspartic coatings market is extrapolated to expand at a CAGR of more than 6.5 percent during the assessment period of 2019-2027

Transparency Market Research, New York: The escalating use of high performance and eco-friendly protective coatings for use in industries such as automotive, marine, and power generation may invite good growth opportunities for polyaspartic coatings market. Booming construction activities across the globe are further assisting in strengthening the growth rate of the polyaspartic coatings market.

The researchers at Transparency Market Research expect the global polyaspartic coatings market to expand at a CAGR of more than 6.5 percent during the assessment period of 2019-2027. The global polyaspartic coatings market was valued at US$ 525 mn in 2018 and is prognosticated to reach over US$ 931 mn by 2027.

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The properties of polyaspartic coatings such as high durability and hardness make them one of the preferred choices of numerous end-users. In addition, polyaspartic coatings act as a guard against the changing climatic conditions. Thus, all these factors assure steady growth for the polyaspartic coatings market through the forecast period of 2019-2027.

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Polyaspartic Coatings Market: Key Revelations

• The water-based segment may acquire a significant share among all the other technologies classified under the polyaspartic coatings market
• On the basis of revenue, the construction sector held more than 50 percent of the polyaspartic coatings market in 2018
• The construction and transportation segment were leading in 2018
• North America may assure promising growth across the forecast period
• Asia Pacific and Europe jointly held more than 50 percent of the global polyaspartic coatings market share and are expected to show the same growth between 2019 and 2027

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Polyaspartic Coatings Market: Growth Accelerators

The polyaspartic coatings market may record good growth owing to the various associated advantages.

• The ship-building industry is ensuring exponential growth for the polyaspartic coatings market
• The achievement of low or negligible VOC polyaspartic coatings leads to less harmful effect on the environment, thus making it a preferred choice among the end-users
• Rise in construction of green buildings may prove a boon for the growth of polyaspartic coatings market
• The non-yellowing nature of polyaspartic coatings may prove as a growth booster for the polyaspartic coatings market
• The prodigious demand from renewable power generation segment such as wind turbines may further propel the growth rate of the polyaspartic coatings market
• Increasing investments in the automotive sector is directly proportional to the growth of the polyaspartic coatings market
• Expanding redevelopment projects across numerous countries may serve as a prominent growth generator for the polyaspartic coatings market

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Polyaspartic Coatings Market: Geographical Dimensions

The polyaspartic coatings market is spread across North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe. North America was the leader in consumption of polyaspartic coatings in 2018 and the increasing demand for polyaspartic coatings may continue through this forecast period also. Strict regulations regarding construction of buildings and heightening awareness about decreasing VOC emissions may prove to be a boon for the growth of polyaspartic coatings market in North America.

Asia Pacific may also gain a significant share during the forecast period of 2019-2027 due to the rise in novel construction projects and redevelopment activities across densely populated countries like India. In addition, the proliferating automotive sector in Indonesia, Malaysia, Vietnam, Thailand, and India may serve as a prominent growth factor for polyaspartic coatings market.

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Global Polyaspartic Coatings Market: Segmentation

By Technology 

• Water
• Solvent
• Powder

By End user

• Construction
• Transportation
• Power generation

By Region

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East & Africa

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