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Tuesday, June 14, 2022

Global Polyurethane Coating Market to be Driven by rising application of polyurethane coating in the automotive and transportation industry During the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘Global Polyurethane Coating Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global polyurethane coating market report, assessing the market based on its segments like type, end user, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Size (2021): USD 17.4 billion

• Forecast CAGR (2022-2027): 5.48%

• Forecast Market Size (2027): USD 24 billion

Polyurethane coating's increasing use in the automotive and transportation industries is propelling the market forward. Polyurethane coatings are widely used in the automobile industry as a primer, intermediate coat, and finishing paint. Furthermore, the market's expansion is being accelerated by growing industrialisation and urbanisation. Furthermore, rising sales of commercial and passenger vehicles in emerging economies are expected to boost market growth throughout the forecast period. These factors are expected to drive the market for global polyurethane coating market during the forecast period.

Industry Definition and Major Segments

Polyurethane coating is a polymer that has a chain of organic units and is used to protect the surface of a substrate. Corrosion, weathering, abrasion, and other degrading processes are all prevented by polyurethane coating. Polyurethane coatings also offer excellent tensile strength, modulus, percent elongation, and shore hardness.

By type, the market is divided into:

• Solvent-Borne

• Water-Borne

• High Solids

• PU Powder Coating

• Others

By end user, the market is divided into:

• Automotive and Transportation

• Aerospace

• Wood and Furniture

• Construction

• Textile and Apparels

• Electrical and Electronics

• Others

By region, the market is categorized into:

• North America

• Europe

• The Asia Pacific

• Latin America

• The Middle East and Africa

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Market Trends

Water-borne polyurethane coatings' favourable qualities, such as surface hardness, high performance in low-temperature, and user-friendliness, among others, are driving demand in a variety of end-use sectors. In addition, the growing use of water-borne polyurethane coatings on solvent-sensitive substrates is expected to boost market growth throughout the forecast period.

The Asia Pacific polyurethane coating market is driven by rising protective coatings investments and increased construction activity in the region as a result of rapid urbanisation and rising living standards. The industry has been propelled even further by the huge development in indigenous manufacturing in countries such as India and China. Furthermore, the market is expected to benefit from the strong presence of various manufacturers in the region over the forecast period.

Key Market Players

The major players in the market are Akzo Nobel N.V., BASF SE, Sherwin-Williams Company, PPG Industries, Inc., and Axalta Coating Systems, LLC, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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