Polyurethane Coatings Market Overview 2022 by Top Players, Demand, Industry Dynamics and Forecast till 2030
Research Reports
Dec 16, 2022
The Polyurethane Coatings Market is expected to generate a revenue of around $18,669.0 million by 2030 with a CAGR growth rate of 5.40%. Because there’s a huge demand for Polyurethane Coatings by the automotive industry.
Polyurethane Coatings contain various characteristics like high-performance coatings with excellent abrasion and corrosion resistance, low-temperature curing, higher durability, high flexibility, good weathering features, and high optical properties.
These coatings are largely consumed by the Automotive & Transportation industry especially in Ships & automobiles. The reason being used of these Polyurethane Coatings is because these coatings possess a Anti-corrosion property which protects the automotive part. Along with this it also has a high gloss, durability, and scratch resistance.Therefore, the Automotive segment will define the expansion of this Polyurethane Coatings Market.
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Regional analysis
The Polyurethane Coatings Market is dominated by the Asia-Pacific region. Because this is the region where there’s a large demand for Polyurethane Coatings in various applications such as automotive, aerospace, electrical and construction industry. Plus the government spending in this region also contributed to the demand for the coatings. There’s an increase in demand too for waterborne &1-K Pu coating which is pushing the demand for Polyurethane Coatings.
After the Asia-Pacific region, North America is the second largest region who’s dominating the Polyurethane Coatings Market, then followed by other regions like Europe, US, Latin America, UK, France, Germany, and Switzerland is anticipated a moderate growth for this Polyurethane Coatings Market.
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Market Segmentation
The polyurethane coatings market, internationally, had been segmented into 2 bases. They are majorly based on Technology & on End-use Industry.
Based on Technology, market had been divided into Solvent Borne,
Water Borne & Spray. Then based on End-use Industry, it is further classified into Automotive, Aerospace, Household, Construction & Electronics.
Market has been Segmented by focusing mainly on the target audience based on Polyurethane coatings manufacturers, Traders and distributors, Research and development institute, Potential investors, Raw material suppliers & National laboratory.
Key players
Most of the prominent key companies are from countries like the US, then followed by Germany, Netherlands, India & Norway.
The name of the key companies are from Akzo Nobel NV (Netherlands), Valspar Corporation (US), Sherwin Williams Company (US), PPG Industries, Axalta Coating Systems, LLC (US), Asian Paints Limited (India), BASF SE (Germany), Covestro AG (Germany), Jotun A/S (Norway) and Evonik Industries AG (Germany).
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