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.