APAC to Dominate Polyurethane (PU) Coatings Market through 2025
According
to TechSci Research report, “Global
Polyurethane
(PU) Coatings Market By Technology (Chemical Vapor
Deposition Vs Physical Vapor Deposition), By Substrate (Metal, Ceramic,
Composite, Others), By End Use (Electronics, Mechanical, Industrial.
Medical, Automotive, Others), By Region, Forecast & Opportunities, 2025”, global
polyurethane (PU) coatings market is expected to witness significant CAGR during
the forecast period. Rapidly growing shipbuilding industry is one of the major factors accounting
for the growth of global polyurethane coatings market.
Moreover, surging demand for polyurethane coatings from numerous end-use
industries such as electronic, automotive, construction, among others, which is
further expected to bode well for the growth of global polyurethane coatings
market through the forecast years. In addition to this, exploitation of
water-borne polyurethane coating to be used for more and more applications, which
in turn is anticipated to positively influence the growth of global polyurethane
coatings market in the years to come. Also, the benefits offered by the PU
coatings such as excellent adhesion, flexibility, hardness, better durability are
making headway for the growth of global polyurethane coatings market, globally.
Along with this, burgeoning wood coatings industry is anticipated to positively
contribute to the market growth during the next five years. However, there are
some factors that might act as major impediment to the growth of global polyurethane
coatings market through 2025 such as high investment and requirement of a
qualified workforce for operation.
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Global
polyurethane (PU) coatings market can be segmented based on type, end industry,
company and region. The automotive & transportation segment dominated the
global polyurethane coatings market in terms of largest market share until 2019
and is further anticipated to hold its dominance during the forecast years as
well which can be accredited to rising demand for water-borne and 1-K PU
coating. Along with this, the construction segment is anticipated to register
highest CAGR during the forecast period. This high growth is because water-borne
polyurethane coatings are used for both floor and wall coatings. Moreover, the
key market players are focusing more on performance improvement, because of
which the polyurethane coatings is slowly emerging as the go-to-stop for
applications, like high-performance architectural coatings, which is
responsible for aiding the growth of segment across the globe. In addition to
this, PU coatings are used as a topcoat in floor coatings. The areas of
application are offices, showrooms, lobbies, warehouses, schools, supermarkets,
tennis courts, industrial workshops, among others. This is further expected to bolster
the segment growth through 2025.
Akzo Nobel N.V., PPG Industries, Sherwin
William, RPM International In, Axalta Coating Systems, Asian Paints Limited,
BASF Se, Bayer Materialscience, Jotun A/S, Valspar Corporation, Evonik
Industries AG, Covestro AG, Solvosol, Endura are among others
are the leading players operating in global polyurethane coatings market. The
players are adopting several growth strategies to enhance the market scenario
of polyurethane coatings. Other competitive strategies include product
launches; mergers & acquisitions; agreements, partnerships, and collaborations;
and expansions to diverse their product portfolio in order to strengthen their
market position.
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“Asia-Pacific is forecast to dominate the global polyurethane coatings market
through 2025 on account of easy availability of raw materials in the region. Furthermore,
growing foreign investments is also contributing to the growing trend. Additionally,
existence of policies for mandating the use of environment-friendly and low-VOC
products is further anticipated to boost the market growth in the region until
2025. Also, increase in construction activities is further boosting the market in
the region”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Polyurethane (PU)
Coatings Market By Technology (Chemical Vapor Deposition Vs Physical Vapor
Deposition), By Substrate (Metal, Ceramic, Composite, Others), By End Use (Electronics,
Mechanical, Industrial. Medical, Automotive, Others), By Region, Forecast &
Opportunities, 2025” has evaluated the future growth potential of global polyurethane
coatings market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global polyurethane coatings
market.Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]