Polyurethane resins paints and coatings are used in a variety of applications ranging from furniture, wall paneling and flooring to architectural, automotive and industrial coatings. They provide excellent corrosion and scratch resistance along with enhanced durability and flexibility. The global construction industry has seen significant growth in recent years, driving increased demand for polyurethane resins based paints and coatings.

The global Polyurethane Resins Paints and Coatings Market is estimated to be valued at US$ 35306.54 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Rising demand from construction industry

The global construction industry is witnessing high growth over the past few years especially in emerging economies of Asia Pacific and Middle East & Africa region. Polyurethane resins find wide application in construction sector for coating applications such as wall paneling, roofing, flooring etc. Their properties such as flexibility, durability and scratch resistance makes them suitable for this end-use industry. According to statistics, the global construction industry is expected to grow at over 4% annually until 2030. This rising construction spending is anticipated to propel the demand for polyurethane resins paints and coatings market during the forecast period.

SWOT Analysis
Strength: Polyurethane resins paints and coatings have good durability and flexibility. They provide corrosion and moisture resistance.
Weakness: Volatile organic compounds emission during manufacturing is an environmental concern. Vulnerability to UV light degradation is also a weakness.
Opportunity: Growing construction and automotive industries in emerging economies offer scope to increase market share. Development of bio-based polyurethane resins reduces dependency on fossil fuels.
Threats: Stringent environmental regulations regarding VOC emissions act as a challenge. Fluctuations in raw material prices also impact the market.

Key Takeaways

The Global Polyurethane Resins Paints And Coatings Market Share is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 35306.54 Mn by 2024, expanding at a CAGR of 6.8% through 2030.

Regional analysis: Asia Pacific currently dominates the market and is expected to maintain its leading position over the next few years. Rapid industrialization and infrastructural growth in China, India, Indonesia, and other countries provide a boost to market growth in the region. European and North American markets are more mature, however continue expanding steadily.

Key players: Key players operating in the polyurethane resins paints and coatings market include F. Hoffmann-La Roche Ltd, Becton Dickinson & Company, Cepheid (Danaher),Siemens Healthineers, Abbott, Diasorin S.p.a., Thermo Fisher Scientific Inc. , Qiagen, BIOMÉRIEUX, Hologic Inc., Bio Rad Laboratories, Quidel Corporation, EKF Diagnostics, SEKISUI Diagnostics, DiaSys-Diagnostic Systems GmbH, InBios International, Inc., Jiangsu Mole Bioscience Co., Ltd., ACON Laboratories, Inc., Visby Medical, Inc., UNIMA, INC. These companies focus on new product launches, partnerships, and acquisitions to strengthen their foothold.

For more details on the report, Read- https://www.ukwebwire.com/polyurethane-resins-paints-and-coatings-market-overview/