Polyurethane Coatings Marketby Type (Solvent-borne, Water-borne, High Solids, Powder), End-Use Industry Type (Automotive & Transportation, Wood & Furniture, Industrial, Textile, Construction, Electrical & Electronics), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Polyurethane Coatings Market by Type (Solvent-borne, Water-borne, High Solids, Powder), End-Use Industry Type (Automotive & Transportation, Wood & Furniture, Industrial, Textile, Construction, Electrical & Electronics), and Region...
"The global polyurethane coatings market is likely to rebound at a promising CAGR of 5.2% during the forecast period."
Polyurethane (PU) coatings are polymers characterized by a chain of organic units connected by urethane links, resulting from the reaction between an isocyanate component and a resin blend comprising solely hydroxyl-containing resins. The chemistry of PU coatings involves the amalgamation of polyisocyanates, primarily TDI and MDI, with polyols such as polyesters, polyacrylates, and polyethers. These coatings come in various types and technologies, including solvent-borne polyurethane coatings, water-borne PU coatings, high-solids PU coatings, and PU powder coatings. They find application in diverse industries such as automotive and transportation, wood and furniture, industrial, construction, textile, and electrical and electronics.
Various end-use industries for polyurethane coatings, such as automotive, construction, and industrial manufacturing, experienced fluctuations in demand due to lockdowns, reduced consumer spending, and project delays due to the COVID-19 pandemic. Uncertainty about economic recovery further influenced purchasing decisions in the market.
Polyurethane coatings, a sizeable market, could not escape from such trends and witnessed a colossal decline amid the pandemic, quite aligned with the decline in the automobile and transportation industry. However, the industry is gradually rebounding in the year 2021 with the ramp-up in consumer confidence. Furthermore, increasing awareness of environmental regulations, rising infrastructure development, and increased focus on corrosion protection are likely to give impetus to the demand for PU coatings.
Segment Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Type Analysis
Solvent-borne, Water-borne, High Solids, and Powder
Water-borne PU coatings are expected to remain the dominant type of polyurethane coatings in the years to come.
Automotive & Transportation is anticipated to remain the biggest demand generator for PU coatings in the years to come.
Regional Analysis
North America, Europe, Asia-Pacific, and The Rest of the World
Asia-Pacific is expected to remain the largest as well as the fastest-growing market over the next five years.
By Type
"The water-borne PU coating segment accounted for the largest market share."
Based on the type, the polyurethane coatings market is segmented into solvent-borne, water-borne, high-solids, and powder. With the lowest decline in demand for polyurethane coatings by the pandemic, water-borne PU coating is expected to remain the largest and fastest-growing type in the market during the forecast period. Water-borne polyurethane coatings have lower volatile organic compound (VOC) content compared to solvent-borne coatings. With increasing environmental regulations and a focus on reducing air pollution, water-borne formulations align with stricter emission standards, making them more compliant and environmentally friendly.
End-Use Trends
"The automotive & transportation segment accounted for the largest market share."
Based on the end-use industry type, the market is segmented into automotive & transportation, wood & furniture, industrial, textile, construction, electrical & electronics. The Automotive & Transportation industry is expected to remain the dominant as well as the fastest-growing end-use industry in the market during the forecast period. Polyurethane coatings provide effective corrosion resistance, making them ideal for protecting metal surfaces in automotive applications. Corrosion can significantly impact the structural integrity of vehicles, and polyurethane coatings help prevent rust and corrosion, extending the lifespan of automotive components.
Regional Insights
"Asia-Pacificaccounted for the largest market share."
In terms of regions, Asia-Pacific is expected to remain the largest market for polyurethane coatings during the forecast period. Asia, particularly countries like China and India, has experienced significant industrialization and economic growth in recent decades. The expansion of industries such as automotive, construction, electronics, and manufacturing has driven the demand for high-performance coatings, including polyurethane coatings.
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
What deliverables will you get in this report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Polyurethane Coatings Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
The polyurethane coatings market is segmented into the following categories:
By Type
Solvent-borne
Water-borne
High Solids
Powder
By End-Use IndustryType
Automotive & Transportation
Wood & Furniture
Industrial
Textile
Construction
Electrical & Electronics
By Region
North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, The UK, and The Rest of Europe)
Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s polyurethane coatings market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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The polyurethane coatings market is estimated to grow at a CAGR of 5.2% by 2028, driven by continuous growth in the automotive and shipbuilding industries.
Akzo Nobel N.V., Ppg Industries, Sherwin Williams, Rpm International Inc, Axalta Coating Systems, Asian Paints Limited, Basf Se, Bayer MaterialScience, Jotun A/S, and Valspar Corporation are the leading players in the polyurethane coatings market.
Asia-Pacific is estimated to remain dominant in the polyurethane coatings market in the foreseeable future. The key economies driving the region’s demand for polyurethane coatings are China, India, and Japan. The Asia-Pacific region is a major player in global trade and exports. The demand for polyurethane coatings is driven by domestic consumption and the need for high-quality coatings in products destined for export markets.
Asia-Pacific is estimated to remain the fastest-growing market for polyurethane coatings in the foreseeable future. Asia has seen significant advancements in technology and manufacturing processes. This includes the development of advanced formulations and technologies in the polyurethane coatings sector, contributing to the overall growth of the market.
The Automotive & Transportation industry is estimated to be dominant in the market in the coming years. Polyurethane coatings offer exceptional durability and protection against environmental factors such as UV radiation, moisture, chemicals, and abrasion. In the automotive & transportation industry, where vehicles are exposed to harsh conditions on the road, the need for a protective and long-lasting coating is crucial to maintain the appearance and integrity of surfaces.
