Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Polyurethane Coatings Market Size is Expected to Grow from USD 20.34 Billion in 2023 to USD 34.34 Billion by 2033, at a CAGR of 5.38% during the forecast period 2023-2033.
Browse 210 Market Data Tables and 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Polyurethane Coatings Market Size, Share, and COVID-19 Impact Analysis, By Technology (Solvent-borne, Water-borne, Powder, and Radiation-based), By End-use (Automotive, Transportation, Construction, Electrical & Electronics, and Wood Furniture), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
The polyurethane coatings industry covers the international supply chain of polyurethane coatings, including suppliers, manufacturers, and customers in various sectors, owing to the material's abrasion, sunlight, chemical resistance, durability, and flexibility. Polyurethane (PU) coatings find extensive applications in various industries owing to their outstanding durability, chemical resistance, and flexibility. These offer excellent abrasion resistance, moisture resistance, and UV resistance, making them suitable for applications in the automotive, construction, furniture, and industrial equipment industries. Furthermore, PU coatings also provide very good adhesion to substrates such as metal, wood, and concrete, improving surface life. Their fast-curing characteristics and availability in both solvent-based and water-based types are factors driving their increased demand. Further driving their usage are developments in green, low-VOC polyurethane coatings, as well as complying with tough environmental regulations. However, on account of unstable raw material prices, influenced mainly by volatility in the cost of major constituents such as isocyanates, polyols, and additives. These are petrochemical-derived materials whose prices are very sensitive to changes in crude oil prices, supply chain disruptions, and geopolitical considerations.
The solvent-borne segment dominated the largest share in 2023 and is anticipated to grow at a CAGR of 55.5% during the forecast period.
Based on the technology, the global polyurethane coatings market is divided into solvent-borne, water-borne, powder, and radiation-based. Among these, the solvent-borne segment dominated the largest share in 2023 and is anticipated to grow at a CAGR of 55.5% during the forecast period. Solvent-borne polyurethane (PU) coatings utilize organic solvents as carriers, providing superior durability, chemical resistance, and rapid curing characteristics. These coatings deliver better adhesion and moisture protection, abrasion resistance, and UV resistance, making them best suited for industrial, automotive, and wood finishing applications.
The automotive segment held the highest share in 2023 and is estimated to grow at a CAGR of 28.12% during the projected period.
Based on the end-use, the global polyurethane coatings market is divided into automotive, transportation, construction, electrical & electronics, and wood furniture. Among these, the automotive segment held the highest share in 2023 and is estimated to grow at a CAGR of 28.12% during the projected period. Polyurethane (PU) coatings are extensively applied to vehicle exteriors, interiors, and under-the-hood parts because of their superior durability, abrasion resistance, and weather protection. PU coatings improve vehicle appearance with better gloss and color retention while offering corrosion, chemical, and UV protection.
North America is anticipated to hold the highest share of the global polyurethane coatings market over the projected period.
North America is anticipated to hold the highest share of the global polyurethane coatings market over the projected period. This is owing to the increase in construction activity, rising automotive production, and demand for polyurethane coating products. During the forecast period, the U.S. market is forecasted to increase. The reason behind this growth is the growing automobile production, general industry, construction, and oil & gas industries, this is going to favorably affect the polyurethane coatings market.
Asia Pacific is estimated to grow at the fastest CAGR of the global polyurethane coatings market during the forecast period. Growing urbanization and rising product consumption from the automotive and vehicle refinish industries in nations like South Korea, Japan, and India are predicted to propel the Asia Pacific region.
Company Profiling
Major vendors in the global polyurethane coatings market are Axalta Coating Systems, BASF SE, Akzo Nobel N.V., Donau Carbon GmbH, Jotun, PPG Industries Inc., RPM International Inc., Valspar Corporation, The Sherwin-Willams Company, Valspar Corporation, and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global polyurethane coatings market based on the below-mentioned segments:
Global Polyurethane Coatings Market, By Technology
Global Polyurethane Coatings Market, By End-use
Global Polyurethane Coatings Market, By Regional
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