Polyurethane Coatings Market 2019 to 2023 | Emerging Trends to Projected a Reach USD 3781.2 KT | Research Report by MRFR | Global Growth Analysis, Industry Size, Share Reports and Region Forecasted
Polyurethane Coatings Market Overview:
Polyurethane Coatings Market is expected to witness a significant growth in terms of consumption of USD 3781.2 KT by 2023 with CAGR of 7.3% between by 2023.
Polyurethane Coatings have led to their amplified use in the transportation and automotive sector. The anti-corrosive and anti-abrasive properties have intensified their application in products of various end user sectors. Use of polyurethane coatings in flooring applications have provided additional opportunities for growth of the industry. Exceptional weathering performance characteristics have further increased the expansion of the market.
Polyurethane Coatings Market includes growing demand from rapidly growing end use industries such as building & construction, packaging, and automotive. In addition to this shifting consumer trends in favour of damage prevention to their devices, equipment and vehicle form the thermal, corrosion and other impact action.
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Polyurethane Coatings Market Key Players:
- Akzo Nobel N.V.(Europe)
- Valspar Corporation (US)
- Sherwin Williams Company (US)
- PPG Industries, Inc. (US)
- Axalta Coating Systems, LLC (US)
- Asian Paints Limited (India)
- BASF SE (Europe)
- Covestro AG (Europe)
- Jotun A/S (Europe)
- Evonik Industries (Europe)
Polyurethane Coatings Market Segment Analysis:
Polyurethane Coatings Market has been segmented into technology and end use industries. On the basis of technology, the market has been divided into solvent-borne, water-borne, spray, powder, and others (high solids, acrylic based). Among these technology, water-borne polyurethane coatings have covered the largest market due to highly applicable in plastic coating, wood coating, metal coating, fibre coating and others.
The driver for water-borne polyurethane coatings is its low volatile organic chemical (VOC) content which makes it a better coating option in various end use industries due to this water-borne polyurethane coating market has scope for its extension in different regions which can make a bigger market in terms of consumption of polyurethane coatings. Secondly, solvent-borne polyurethane coating remains the dominant polyurethane coating type and is expected to be the largest in coming future market.
Polyurethane Coatings Market Regional Analysis:
Polyurethane Coatings are largely consumed in Asia Pacific region owing to robust end use industry growth, favourable government policies and low labour cost. China and India are leading countries owing to increasing demand of polyurethane coatings in automotive and construction industry. Construction industry causes major environmental impact owing to demolition waste and consumes large amount of energy thus, to minimize environmental impact polyurethane coatings is expected to exhibit strong market growth.
Infrastructural development with modern structure and technology in emerging markets are anticipated to propel the polyurethane coatings market. Germany and UK are leading countries in European regions on account of large automotive hub. Automotive refinishes and rapid industrialization is driving huge demand of polyurethane water borne coatings. Moreover, Middle East & Africa is anticipated to witness high demand of polyurethane coatings in construction industry on account of increasing disposable income and growing expenditure on interior of building.
Polyurethane Coatings Market Competitive Landscape:
Polyurethane Coatings Market is one of the highly mature markets in the coatings industry, which is mainly driven by the surging demand from in automotive industry, along with the growing building & construction industry around the world. The market consist of significant number of tier 1 manufacturers, yet Axalta Coating Systems, LLC, Pidilite Industries Limited, Evonik Industries AG, and Covestro AG are the key players operating in this market. According to the study conducted by MRFR, almost all of them are majorly adopting the product launch and an expansion tactics to augment their production capacities and market share. This is anticipated to help them sustain the growing competition in coming years.
Polyurethane Coatings Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Polyurethane Coatings Market
Polyurethane Coatings Market Table of Content to be Continue……,
Polyurethane Coatings Market List of Table:
Table 1 World Population: By Major Regions (2016 To 2030) (Million)
Table 2 Global Polyurethane Coatings Market: By Region, 2016-2023 (Kilo Tons)
Table 3 North America Polyurethane Coatings Market: By Country, 2016-2023 (Kilo Tons)
Table 4 Europe Polyurethane Coatings Market: By Country, 2016-2023 (Kilo Tons)
Table 5 Asia-Pacific Polyurethane Coatings Market: By Country, 2016-2023 (Kilo Tons)
Polyurethane Coatings Market List of Table to be Continue……,
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