Polyaspartic technology has emerged as a promising hybrid coating technology in a variety of industrial applications and concrete conditions. The use of polyaspartic coatings for the protection of industrial assets, mainly against corrosion, has gathered steam in the recent decades in various developing and developed economies. The vast popularity as protective resinous concrete floor coating applications is driven by several key advantages these have over commonly used traditional coatings, notably epoxy and polyurethanes. Polyaspartic coatings are considered as more versatile owing to their high adhesion values in harsher environmental applications and provide markedly high structural protection. In addition, the markedly high impact resistance, reduced curing time, and better gloss retention, and high pot life are some of the compelling cases bolstering the uptake among chemists and formulators world over.
The reduced lag time these coatings have make them attractive to be used for the cost-effective maintenance of commercial and industrial assets, especially in infrastructure, marine, and energy markets. The substantial demand for high-quality coatings in a burgeoning construction sector is a key factor boosting the market. Technological advances in material sciences are opening new protective coating applications in the construction and automotive industry. Bustling with opportunities, the global polyaspartic coatings market is projected to reach a valuation of US$819.0 million by 2025 end, according to Transparency Market Research (TMR).
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Which coating technology and end-use industry are anticipated to witness substantial uptake in the coming years?
The various technologies used for applying polyaspartic coatings are water, solvent, and powder-based. Of these, solvent-based coating technology is currently the dominant one. However, the demand for water-based polyaspartic coatings technology is rising at a promising pace and is expected to emerge to the forefront by the end of the assessment period. The vastly rising demand for water-based technology can be attributed to the substantial demand for lower- and zero- volatile organic compound (VOC) coatings. Furthermore, the implementation of stringent regulations on controlling VOC emissions in the construction industry is a crucial factor stoking the demand for water-based polyaspartic coatings.
The major end-use industries are construction, power generation, and transportation. Of all the segments, the construction industry is witnessing substantial demand for polyaspartic coatings. This is driven in part by the growing demand for eco-friendly and sustainable coatings for buildings. The uptake of polyaspartic coatings is also fueled by the rising adoption of Leadership in Energy and Environmental Design (LEED)-certified buildings in various developing regions. The transportation is another industry witnessing prominent demand for polyaspartic coatings. The extensive demand is driven by the surging need for protecting automobile assets from corrosion and prolong the average life expectancy of vehicles.
In recent years, there have been substantial R&D investments by coating solutions manufacturers for the building and construction industry, which helps in the development of innovative installation products. In November 2017, Laticrete International, Inc., a prominent U.S.-based company offering construction solutions, has sought to unveil polyaspartic concrete coatings, LATICRETE SPARTACOTE. The coating promises high levels of flexibility, durability, rate of adhesion, potentially high corrosion resistance and other chemical resistance. These coatings, claim manufacturers, enable versatile product formulations, effective against all weather conditions.
Which geographic regions are likely to witness substantial uptake or present promising prospects?
The various regions witnessing the are North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Of these, North America accounted for a leading share of the global polyaspartic coatings in 2016 in terms of volume. The wide demand can be attributed to the implementation of strict building regulations and the adoption of VOC norms in the region. The pressing demand for less energy-efficient building products in various parts of the region and the mounting concern of VOC emissions. The advent of advanced water-proofing and anti-corrosive systems to suit the varying environmental conditions is expected to boost the regional market.
Meanwhile, Europe and Asia Pacific are rising at prominent pace and expected to account for substantial share in the global market. The spiraling demand for protecting core components in the construction industry is also expected to accentuate the growth.