Polyurethane Coatings Market Share, Overview, Trends and COVID-19 Analysis Forecast to 2023
Polyurethane Coatings Market Analysis
The global polyurethane coatings market is predicted to grow at a
7.3% CAGR over the forecast period (2016-2023), states the new Market Research
Future (MRFR) report. A polyurethane coating, simply put, is a layer of
polyurethane which is applied to the surface of the material to protect it.
This coating helps to protect the base material against abrasion, weathering,
corrosion, and other processes which may degrade the material with time.
Polyurethane coatings are of different types, including muted, glossy,
transparent, and opaque. It has excellent properties such as high optical
properties, good weathering features, high flexibility, higher durability,
low-temperature curing, and high corrosion and abrasion resistance, among
others.
Various factors are propelling the polyurethane coatings market
growth. These factors in accordance to the MRFR report, include growing demand
for durable and lightweight products in the electronics, construction, and
automotive industries, and increasing demand for surface coating in floor and
bridges, ships and containers, gas pipeline, and storage tanks.
On the contrary, strict environmental policies due to release of
toxic gases while burning fossil fuels, fluctuating cost of raw materials, high
cost of new technologies, and challenges in the production process are factors
that may impede the polyurethane coatings market growth over the
forecast period.
Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/polyurethane-coatings-market-2976
Key Players
Leading players profiled in the polyurethane coatings market
report include Evonik Industries AG (Germany), Jotun A/S (Norway), Covestro AG
(Germany), BASF SE (Germany), Asian Paints Limited (India), Axalta Coating
Systems, LLC (US), PPG Industries, Inc. (US), Sherwin Williams Company (US),
Valspar Corporation (US), and Akzo Nobel NV (Netherlands), among others. Key
players are incorporating various strategies to create a foothold in the market
such as partnerships, research and development, expansions, mergers and
acquisitions, and more.
Polyurethane Coatings Market Segmentation
The MRFR report provides a complete segmental analysis of
the COVID-19 analysis on polyurethane
coatings market growth on the basis of end
use industry and technology.
Based on technology, the polyurethane coatings
industry is segmented into powder, spray, water-borne, solvent-borne, and
others.
Based on end use, the polyurethane coatings
market size is segmented into electronics, construction, household,
aerospace, automotive, and others. Of these, the automotive segment will lead
the market over the forecast period.
Polyurethane Coatings Market Regional Analysis
By region, the polyurethane coatings market
production report covers the latest trends and growth opportunities across
the Asia Pacific, Europe, North America, Latin America, and the Middle East and
Africa. Of these, the APAC region will lead the market over the forecast
period. This is owing to its growing demand in different applications,
especially in the construction, electrical, aerospace, and automotive industry in
Japan, India, and China. Besides, the burgeoning demand for polyurethane
coatings in the construction industry in Thailand, Indonesia, and India are
also predicted to boost the market growth. Moreover, the growth of electric
cars in China, the growing automotive industry, and increasing
industrialization, are also propelling the market growth in this region.
The polyurethane coatings application market in North America will have the second-largest share
in the market over the forecast period. The US is the key contributor in this
region owing to huge growth in the automotive and construction industry.
The polyurethane coatings market in Europe is predicted to have
favorable growth over the forecast period. Switzerland, Germany, France, and
the UK are the key contributors in this region.
The polyurethane coatings market in Latin America is predicted to
have significant growth over the forecast period. This is owing to high growth
potential and the reviving economy of Mexico and Brazil.
The polyurethane coatings market in the Middle East and Africa is
predicted to have considerable growth over the forecast period. This is owing
to the significant growth opportunities provided by the construction
sector.
Read more reports at: https://www.marketresearchfuture.com/categories/chemicals-market-report
Read more details at: https://www.marketresearchfuture.com/videos
Read more details at: https://www.marketresearchfuture.com/infographics
About Market Research Future
At Market
Research Future (MRFR), we enable our customers to unravel
the complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Pune - 411028
Maharashtra, India
+1 646 845 9312
Very informative blog post friend. Thank you for sharing. The applications of polyurethane is on the rise these days and there are many reliable chemical suppliers in Nigeria and all across the African continent who offers the best quality industrial chemicals. The insights provided in the article are highly relevant. Keep on writing :)
ReplyDelete