The global demand for Polyurethane Coatings Market is presumed to reach the market size of nearly USD 28.57 MN by 2028 from USD 19 MN in 2021 with a CAGR of 6% under the study period 2022 - 2028.
Polyurethane coating is a polymer that is made up of a chain of organic units connected by urethane linkages. Polyurethane coating is based on a combination of polyols, such as polyethers, polyacrylates, and polyesters, with polyisocyanates, primarily MDI and TDI. In the case of PU coatings, polyols are converted to stock coatings before being combined with a polyisocyanate crosslinker and processed, resulting in a two-component system. High-solids PU coatings, PU powder coatings, water-borne PU coatings, and solvent-borne polyurethane coatings are all PU coatings based on distinct technologies. Textile, construction, electronics and electrical, wood and furniture, and automotive and transportation are a few industries that employ these coatings.
Market Dynamics
The market for PU coating is growing due to an increase in demand for 1-K PU coating. Over the forecast period, consumer willingness to spend on a wide range of consumables and expanding applications in the automotive and transportation industries will likely propel the global PU coatings market forward. Water-borne PU coatings are becoming more popular, and technical advancements are projected to offer new growth opportunities for the worldwide PU coatings market in the coming years. The PU coatings market is predicted to develop as people's disposable income rises and the economies of the various countries in the region grow. However, the cost-intensive nature of new technologies and volatility in the price of raw materials are anticipated to stifle the worldwide PU coatings market's expansion in the coming years.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of polyurethane coatings. The growth and trends of polyurethane coatings industry provide a holistic approach to this study.
Market Segmentation
This section of the polyurethane coatings market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Technology
- Solvent-Borne
- Water-Borne
- Spray
- Powder
- Others
By End-User
- Automotive
- Aerospace
- Household
- Construction
- Electronics
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Polyurethane Coatings market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Polyurethane Coatings Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the polyurethane coatings market include Akzo Nobel NV, American Polymers Corp., Axalta Coating Systems Ltd., BASF SE, Covestro AG, IVM Chemicals Srl, Jotun AS, PPG Industries Inc. RPM International Inc., The Sherwin-Williams Co. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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