Polyurethane Resins Paints And Coatings Market Poised to Grow at a...

Polyurethane Resins Paints And Coatings Market Poised to Grow at a High Rate Owing to Growing Construction Industry

Posted 2024-07-10 11:27:59

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The global polyurethane resins paints and coatings market is expected to be valued at US$ 40,673.14 million in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period of 2024 to 2031. Polyurethane resins are versatile synthetic polymers that provide high tensile strength and durability to paints and coatings. Polyurethane resin-based paints and coatings offer excellent adhesion, corrosion and UV resistance which make them suitable for usage in construction, automotive, furniture and other industrial applications. The need for durable, high-performance and sustainable coatings is driving the demand for polyurethane resins in paints and coatings.

The global polyurethane resins paints and coatings market is estimated to be valued at US$ 40,673.14 million in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the polyurethane resins paints and coatings are 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. Key players are focusing on new product development and strategic collaborations to gain more market share in the polyurethane resins paints and coatings market.

The growing construction industry across the globe especially in the emerging economies of Asia Pacific and Latin America is creating huge opportunities for Polyurethane Resins Paints And Coatings Market Demand players. Polyurethane resins paints and coatings are highly used in construction for building exteriors and interiors owing to their superior properties.

North America and Europe currently dominate the global polyurethane resins paints and coatings market. However, players are focusing on expanding their presence in Asia Pacific and Latin America through partnerships with regional players and by setting up manufacturing units to cater to the growing demand for polyurethane resins paints and coatings in these regions.

Market Drivers
- Growing construction industry worldwide driven by rapid urbanization is a major growth driver for polyurethane resins paints and coatings market. Polyurethane coatings and paints are widely used in residential and commercial construction for their durability.
- Increasing automotive production particularly in Asia Pacific region augments the demand for polyurethane resins used in automotive coatings and paints. Polyurethane coatings provide scratch and impact resistance to vehicle bodies and parts.

Market Restraints
- Volatility in raw material prices such as crude oil derivatives and isocyanates pose a major challenge for polyurethane resins paints and coatings manufacturers.
- Stringent environmental regulations regarding VOC emissions from polyurethane coatings may restrict market growth to some extent especially in developed regions.

Segment Analysis
Water-borne segment currently dominates the polyurethane resins paints and coatings market. This is because water-borne polyurethane resins have lower VOC emissions as compared to solvent-borne polyurethane resins. Lower VOC emissions help improve indoor air quality and assist manufacturers comply with various environmental regulations. Water-borne polyurethane resins also have advantages in terms of easier application, less odor and fire hazard. The high performance properties and eco-friendly nature of water-borne polyurethane resins is expected to help this segment retain its leading position in the market during the forecast period.

Global Analysis
Regional Analysis: Asia Pacific region currently accounts for the largest share in the global polyurethane resins paints and coatings market. This is due to rapid industrialization and infrastructural development activities in countries such as China and India. The construction industry in Asia Pacific is booming which is driving the demand for polyurethane resins paints and coatings. North America is projected towitness significant growth owing to stringent environmental regulations favoring low VOC emitting water-borne coatings.

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About Author
Alice Mutum, is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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