Specialty Products Inc.

What Specialty Products Inc. does

Specialty Products Inc. (SPI) is a manufacturer of polyurea elastomeric coatings and polyurethane foam systems, operating under original ownership since its 1974 founding. The company's core technology centers on spray-applied polyurea elastomers, polyurethane foams, and proprietary plural-component spray equipment (notably the LPG Low Pressure Proportioner introduced in 2009), supported by a registered trademarked adhesion chemistry called ULTRA BOND that allows primerless application on properly prepared organic and inorganic substrates. Multiple proprietary product families — including Polyshield HT (100F, SL, Traffic Coat), PTU polythiourea, ELASTAFLEX HP aliphatic/aromatic blend, Full Metal Jacket, DragonShield, EPL, AQUASEAL, Hard Cap, K5, and AMP — serve protective coating, waterproofing, abrasion/chemical resistance, and secondary containment use cases with FDA/USDA and ASTM E84-97a Class 1 compliance credentials.

The company monetizes through four revenue streams: one-time sales of polyurea coating and polyurethane foam products, sales of plural-component spray equipment and parts, applicator training services, and supporting consumables (primers, additives, cleaners). Go-to-market is direct-to-customer via geographically organized sales representatives in North America, complemented by international distributors and agents — most notably the wholly-owned UK subsidiary SPI Performance Coatings Ltd which serves Pan-European markets. Customer segments span contractors/applicators (primary), engineers/architects (primary), international distributors (primary), and infrastructure, environmental, energy, and OEM/engineering verticals. Distribution is reinforced by a 24/7 technical support line, certified applicator training classes, and equipment business-expansion packages (turn-key spray rigs, concrete lifting equipment) that convert new applicators into the SPI ecosystem.

SPI is a privately held subsidiary of PPG Industries, Inc., with headquarters in Lakewood, Washington and additional U.S. operation centers in Rowlett (Texas), Chicago (Illinois), and Anchorage (Alaska). Revenue is not publicly disclosed. The founding-era leadership and 250 combined years of technical staff experience underpin the company's positioning as a long-tenured specialty chemicals supplier serving industrial, infrastructure, environmental, and energy end-markets globally.

Name

Specialty Products Inc.

Legal name

Specialty Products, Inc.

Website

https://specialty-products.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

101–250 employees

Short description

Specialty Products Inc. (SPI) is a Lakewood, Washington-based manufacturer, founded in 1974, of polyurea elastomeric coatings, polyurethane foam systems, and proprietary spray equipment serving contractors, engineers, architects, international distributors, and infrastructure, energy, environmental, and OEM end-markets globally as a subsidiary of PPG Industries.

Ownership category

akta.pro rank

Product category

Specialty Chemical Coatings

NAICS

Paint and Coating Manufacturing (325510), Urethane and Other Foam Product (except Polystyrene) Manufacturing (32615), Resin, Synthetic Rubber, and Artificial and Synthetic Fibers and Filaments Manufacturing (3252)

SIC

Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851), Plastics Foam Products (3086), Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821)

akta.pro primary industry

Coating & Adhesive Raw Materials (Resins, Additives, Solvents) (IMAEAGAK)

akta.pro secondary industries

Polyurethane (PU) Flexible Foam Manufacturing (IMANAIAC), Polyurethane (PU) Rigid Foam Manufacturing (IMANAIAD)

Keywords

• Polyurea coatings manufacturing
• Polyurethane foam systems
• Spray proportioning equipment
• Protective elastomeric coatings
• Industrial waterproofing solutions

Headquarters

HQ city

Lakewood

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Polyurea Coatings: Sale of proprietary polyurea coating products across multiple product lines including AMP, K5, Polyshield, PTU, ElastaFlex, FMJ, DragonShield, EPL, and Hard Cap series. Products are 100% solids with zero VOCs.
2. Polyurethane Foam Systems: Sale of spray polyurethane foams, geo-technical foams, and concrete lifting foams (e.g., Eco-Rise 2.5) for insulation, waterproofing, and construction applications.
3. Spray Equipment and Parts: Sale of plural-component spray equipment including LPG Low Pressure Proportioner, and related parts and accessories. Equipment is sold as turn-key packages for business expansion.
4. Training and Technical Services: Applicator training classes providing certification and skills development for polyurea and spray foam application.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Specialty Products Inc. manufactures and globally supplies spray-applied pure polyurea elastomeric coatings, polyurethane foam systems (including concrete lifting and roofing insulation foams), and proprietary plural-component spray equipment (LPG Low Pressure Proportioner). Products are sold through a regional direct sales representative network and international distributors to contractors, applicators, engineers, architects, and OEMs for protective coating, waterproofing, abrasion resistance, chemical resistance, and insulation applications across infrastructure, energy, environmental, and OEM/engineering sectors.

Product overview

Specialty Products Inc. (SPI) is a manufacturer of polyurea coatings and polyurethane foam systems operating under original ownership since 1974. The company's product portfolio centers on multiple polyurea elastomer product series (POLYSHIELD HT, PTU, ELASTAFLEX, FULL METAL JACKET, DRAGONSHIELD, EPL, AQUASEAL, HARD CAP, and K5 families) that provide protective coatings, waterproofing, chemical resistance, and abrasion resistance for industrial, infrastructure, environmental, and energy applications. Supporting the coatings are polyurethane foam products including roofing insulation foam (Envelo-Seal) and concrete lifting foam (Eco-Rise), along with proprietary low-pressure spray equipment (LPG Proportioner). The company also offers primers, additives, single-component coatings, and equipment parts/accessories. SPI provides 24/7 technical support and applicator training classes as part of its service offering.

Differentiator

Problem solved

Functional benefit

Brands

• Versaflex: Product brand line mentioned in partnership with PPG PMC resources
• Polyshield
• ElastaFlex
• Synergy
• Full Metal Jacket
• DragonShield
• PTU
• EPL
• AQUASEAL
• LPG
• Eco-Rise
• Hard Cap
• Envelo-Seal
• ChemShield

Products and services

• POLYSHIELD HT Polyurea Series Spray-applied polyurea elastomer series for protective coatings, concrete waterproofing, and traffic deck coatings. Used by contractors and applicators in infrastructure, containment, and industrial applications where monolithic membrane performance, chemical resistance, and abrasion resistance are required.
• PTU Chemical-Resistant Polythiourea Spray-applied polythiourea elastomer for chemical resistant tank linings, secondary containment, and industrial surfaces requiring fast return-to-service and high chemical resistance.
• ELASTAFLEX Polyurea Series Polyurea elastomer series including ELASTAFLEX HP with aliphatic/aromatic blend for UV and color stability and ELASTAFLEX 1.0 for waterproofing and containment. Targeted at applications requiring FDA/USDA compliance, high tensile strength, and elongation.
• FULL METAL JACKET Truck Bed Liner Polyurea Pure polyurea thermoplastic elastomer for truck bed liners and protective coatings where abrasion resistance and economic value are required.
• DRAGONSHIELD Polyurea Series Polyurea coating series for protective barrier applications and high-temperature service environments.
• EPL Self-Leveling Polyurea Series Self-leveling polyurea elastomers with ULTRA BOND primer-free adhesion for construction joint filling, deck repairs, crack repairs, and self-leveling base coats. Includes EPL 9, EPL 25 UB, EPL 1.5, and EPL 4 variants.
• AQUASEAL Expanding Polyurea Series Expanding polyurea elastomer series for waterproofing, concrete resurfacing, and high-pressure equipment applications. Includes AQUASEAL Hi Rise X3 AP and AQUASEAL Hi Rise X5 variants.
• HARD CAP 100 Aliphatic Polyurea Topcoat Clear aliphatic polyurea topcoat for interior and exterior applications requiring color stability, gloss retention, and FDA/USDA compliance.
• HM-VK Ultra High Strength Handmix Polyurea Ultra high strength hand-mix polyurea elastomer for hand-mixed applications where spray equipment is not used.
• K5 General-Purpose Polyurea General-purpose polyurea coating for industrial protective coating applications.
• AMP 100 UB Polyurea ULTRA BOND-enabled polyurea coating for industrial and commercial applications.
• Eco-Rise 2.5 Concrete Lifting Foam Spray polyurethane foam for concrete slab lifting and foundation repair. Used by contractors with LPG proportioner equipment for slab stabilization applications.
• Envelo-Seal 2.5lb Roofing Insulating Foam Spray polyurethane foam for roofing insulation and energy conservation applications.
• LPG Low Pressure Proportioner Equipment Proprietary low pressure plural-component proportioning equipment for applying SPI polyurea coatings and polyurethane foam. Sold as turn-key packages for contractors entering the spray application business, with service and repair support.
• Primers, Additives, and Cleaners Supporting chemical products for SPI coating systems, including surface preparation primers, formulation additives, and equipment maintenance cleaners.
• Single Component Coatings Single-component industrial and commercial coating products complementing the SPI polyurea portfolio.
• Applicator Training Classes Paid applicator training program for contractors learning polyurea coating and polyurethane foam application, with scheduled class locations and online enrollment.

Quantifiable outcome

• Tank lining repair completed in under 48 hours with return to service under 12 hours
• +2 more outcomes

Named customers8 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• SPI Performance Coatings, Ltd (UK)coreChannel Partner/ Reseller/ DistributorSPI Performance Coatings is a leading supplier of plural component sprays including elastomeric polyurea and epoxies, serving UK and Pan-European markets. They provide manufacturing expertise combined with application expertise for quick return-to-service solutions in marine, offshore, oil and gas, telecoms, industrial, commercial building management, and municipal sectors. Won SPI's 2016 Global Distributor of the Year Award.
• Corroless Eastern Performance Coatings and LiningsminorChannel Partner/ Reseller/ DistributorUK-based contractor that applied SPI's Polyshield HT-100F UB for a 48-hour tank lining corrosion repair project at a green energy plant, completing 230m2 surface area in under 48 hours.
• Polyurea Development Association (PDA)coreStrategic or Co-development PartnerIndustry association for polyurea technology development and standards. SPI is a founding member, demonstrating commitment to industry leadership and standards development.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Sherwin-Williams: Largest US coatings company with a heavy industrial protective and marine coatings portfolio. Competes with SPI in industrial protective coatings for infrastructure and OEM customers at much greater scale and breadth.
• Covestro: Major polyurethane raw materials supplier (MDI, TDI, polyols) used in spray polyurethane foam and polyurea formulations. Comparable at the chemistry-input layer that feeds SPI's competing foam systems.
• Huntsman Corporation: Diversified chemical manufacturer with polyurethanes, performance products, and advanced materials divisions serving construction, insulation, and coatings. Competes at the foam and specialty polymer system layer.
• Dow Chemical: Global chemical major producing polyurethanes, isocyanates, and construction chemicals. Indirect competitor through PU systems houses and competitors' chemistry that serve overlapping spray foam and protective coating end uses.
• PPG Industries (Protective & Marine Coatings): SPI's parent conglomerate segment that supplies protective and marine coatings globally. Overlaps with SPI in corrosion protection and infrastructure end markets but operates at vastly larger scale and breadth.
• BASF: Global chemical major that produces polyurea raw materials (MDI, polyetheramines) and competing coating/foam systems. Comparable at the polymer chemistry layer and competes indirectly through downstream formulators.

Direct peers

• LINE-X: Spray-on polyurea/polyurethane protective coatings franchise with a national applicator network covering truck bed liners, industrial, and military applications. Comparable product portfolio and contractor-driven distribution model.
• Rhino Linings: Global spray-on polyurea and protective coating company serving truck bed liners, industrial, and infrastructure applications. Highly comparable chemistry, applicator network, and end markets to SPI's Full Metal Jacket and Polyshield lines.
• Versaflex: Polyurea coating brand also under the PPG umbrella and co-marketed on SPI's site. Directly comparable as a polyurea systems manufacturer selling through the same protective and marine coatings channel.
• Armorthane: Spray-applied polyurea and polyurethane protective coatings manufacturer with a similar applicator/distributor model covering industrial, military, and infrastructure end uses. Direct competition for SPI in protective elastomer systems.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/spipolyurea
• YouTubeyoutube.com/channel/UCtghO2VNhGXpbqYbS4LbIKg?view_as=public
• Facebookfacebook.com/spipolyurea
• LinkedInlinkedin.com/company/specialty-products-inc.

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Specialty Products Inc.