GAITHERSBURG, Md., July 25, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Polyurethane Coatings market is accounted for $19,957.16 million in 2019 and is expected to reach $34,034.58 million by 2027 growing at a CAGR of 6.9% during the forecast period.
Some of the key players in Polyurethane Coatings Market include AkzoNobel N.V, Asian Paints Limited, Axalta Coating Systems, BASF SE, Bayer Materialscience , Covestro AG, Endura, Evonik Industries AG , Jotun A/S, PPG Industries, RPM International Inc , Sherwin Williams, Solvosol and Valspar Corporation.
Some of the key factors propelling the market growth are elevated demand for construction insulation in light of sustainability concerns and development of automotive & shipbuilding industries. However, strict rules related to volatile organic compound are the restraining factor for the growth of the market.
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Polyurethane coating is a polymer containing of a chain of organic units attached by urethane links which is a result of the reaction between an isocyanate component and a resin blend made with only hydroxyl-containing resins. Polyurethane coating chemistry is based on the mixture of polyisocyanates mainly TDI and MDI with polyols such as polyesters, polyacrylates, and polyethers.
By end user, construction segment is expected to grow at the significant market share during the forecast period owing to emulsion and epoxy paints are extensively used for wall and floor coatings. With growing focus on development in performance, polyurethane coatings are gradually emerging as the go-to-stop for applications, like high-performance architectural coatings.
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On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to rising purchasing power and superior economic growth in Asia-Pacific. A major amount of innovations are made by different market players in order to be prepared to serve up the high potential end-use industries in future.
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- Radiation Cured
- High Solids
- PU Powder Coating
End Users Covered:
- Wood & Furniture
- Automotive & Transportation
- Electrical & Electronics
- Textile & Apparels
- North America
- Asia Pacific
- South America
- Middle East & Africa
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