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Covestro targets coatings industry to boost demand for polyurethane materials business in India

India: Covestro, a Germany based high technology polymer supplier, is set to target the industrial coatings end application area for supplying its polyurethane based polymers. Prior to 1st September 2015, the company was known as Bayer MaterialScience. The company manufacturers polyurethane based raw materials under the Coatings, Adhesives & Specialties (CAS) business unit. The company is seeing huge potential in new application areas such as industrial coatings on the back of technological innovation and growing demand from end user industries such as automotive, wood furniture, construction, etc., Polyurethane are used as building blocks for coatings and can be applied on any substrate, that is, metal or composite. With the objective to target the medium scale industrial coatings manufacturer, Covestro is offering 20-kilo pack against 225-kilo drum that is used globally. In addition to industrial coatings, the company is focusing on expanding the polyurethane based product portfolio that is supplied to automotive industry.

TechSci Research depicts the demand for polyurethane based polymers would grow at significant pace over the coming years on account of such technological innovations and company initiatives. Since the polyurethane based coating products penetration is still low, India offers myriad opportunities for growth. However, polyurethane based adhesives and sealants are very much penetrated in the market and have been registering significant demand growth.

According to TechSci Research report, India Adhesives Market Forecast and Opportunities, 2020, market continues to be dominated by polyurethane based adhesives and are largely used in automobile and construction sectors. Polyurethane based adhesives offer properties such as high thermoplastic and adhesion property, good electrical insulation, high elasticity, strong resistance against chemicals and moisture and thus they suitable for use in heavy industries.

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