Polyurethane Coating Market to Flourish with Growing Usage of...

Polyurethane Coating Market to Flourish with Growing Usage of Thermoplastic Polyurethane Coatings

Posted 2024-09-11 06:21:20

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Polyurethane coatings are extensively used across a range of industries owing to their excellent durability, abrasion resistance, weather resistance, and tensile strength properties. Polyurethane coatings are suitable for use in various applications ranging from architectural and industrial flooring, automotive, wood & furniture, and others. Increasing demand for thermoplastic polyurethane coatings in various end-use industries is estimated to drive the growth of the global polyurethane coatings market.

The Global polyurethane coating market is estimated to be valued at US$ 21.34 Bn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the polyurethane coating market are Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, DOW, Axalta Coating Systems, BASF SE, Jotun, RPM International Inc., Asian Paints, Covestro AG, Huntsman International LLC, Nippon Paint Holdings Co., Ltd., Mitsubishi Chemical Corporation, Masco Corporation, Kansai Paint Co., Ltd., Beckers Group, Hempel A/S, Sika AG, RTP Company, and Lubrizol Corporation.

Key Polyurethane Coating Market Demand coatings from emerging economies and increasing usage of polyurethane coatings in various industrial applications. Technological advancements leading to product differentiation and development of eco-friendly polyurethane coating materials is also estimated to present growth opportunities over the forecast period.

Market drivers: Growth in the building & Playground Hybrid Turf Market construction industry globally is estimated to be a key driver for the polyurethane coatings market. Increasing automotive production along with rising preference for lightweight and durable vehicles will further support the market growth. Growing deman d from other end-use industries such as industrial machinery and wood coatings will also augment the polyurethane coatings market over the forecast period.

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