The versatile application in the automotive industry will have a noticeable impact on polyurethane (PUR) coating manufacturers with significant income in the foreseeable future, according to IndustryARC’s expert findings. As per the study, the global — PUR coating market size breached $16 billion worth in the year 2018. The report analysis also estimates an increased compound annual growth rate (CAGR) of 7% to be experienced by the growing global PUR coating market demand for the period of 2019-2025.
The aforementioned report is titled “Polyurethane Coating Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2019-2024.” It gives a broad perspective about recent trends and prospects of global PUR coating market for the market players to gain proper market insight. This report covers Polyurethane Coating Market Size by Trends and applications, Polyurethane Coating Market share by top 5 companies and also the market share by start-ups during the forecast period.
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Global Polyurethane Coating Market: Demand Analysis
Polyurethane is one of the leading material markets in the world, augmenting with growing demand from all sectors. Applicable as surface coatings, PUR finds its way into automotive coatings, aircraft coatings, and furniture coatings. With the automotive industry-dominating in all regions, it opens up a pathway for huge opportunities for the PUR manufacturers to attain strong economic growth.
With increasing environmental issues, PUR products offer a revolutionary eco-friendly solution for every commercial and industrial sector.
Global Polyurethane Coating Market: Leading Segments
APAC is the largest region in the global PUR coating market owing to the significant growth of automotive, electronics, furniture, and construction industry. With the growing consumption of vehicles in the APAC region, PUR coating market is propelling due to the incremented demand from the automotive manufacturing companies. As per the analysis, APAC had a regional share of 36% in the year 2018.
The versatile properties of PUR coating such as low weightiness, comfortability, durability, sound-absorption, and resistivity to corrosion make it an ideal component for automobile manufacturers. With linear growth, the application of PUR coating market in the automotive sector will witness strong growth at a CAGR of 4% through to 2025.
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Global Polyurethane Coating Market: Disruptive Trend
Revolutionizing Packaging Industry:
PUR coating has created a new era for the packaging industry. The chemical, water, and abrasion resistance properties give PUR packaging a protective shielding, whence a wide scope of glossy and matte printing, graphic art and design on the packaging offers an attractive outlook to the product’s appearance.
Reaction Injection Molding:
PUR reaction injection molding system manufacturers make several molded products such as foams and other solid parts which can either have flexible or rigid characteristics. Due to its wide usage to produce almost every mechanical part including doors, shopping carts, steering wheels, refrigerators, dashboards, electronic appliances, and many more, it is able to acquire huge global demand.
Enhanced Textile Products:
Polyurethane coating is cost-effective yet resourceful in tailoring eco-friendly apparels and other fabric materials all across the world. PUR coating is trending in the textile industry for yielding lightweight, water-resistant, soft, and flexible fabrics. With new technological advancement continuously swaying-in across the globe, PUR coating market is propelling its application in creating fashion apparels, footwear, swimsuits, athletic suits, and so on.
Furnishing and Construction Application:
Wood and furniture industry is a robust business sector globally influencing the PUR market demand. Home and office furnishing are subjected to dirt and tears, temperature fluctuation as well as the other physical damage. PUR coating provides an excellent insulating layer to these valuable assets protecting them from any kind of scrapping. Used as sealants, foams, and adhesive in buildings, PUR coating enhances the longevity and outlook on its application. Additionally, this coating serves as a protective shield from weather damage to the constructed structures.
Usage in the Medical Sector:
Bio-compatibility, wear and tear, chemical resistivity and flexibility of PUR are the prominent reasons for its increasing usage in medical appliances and injection molding parts. Thermoplastic polyurethane, PUR coating, and liquid PUR have gained biomedical usage and are utilized in diverse materials including surgical drains, tubing, and piping, wound dressing, hospital bedding, artificial hearts, intra-aortic pumps, and others.
A. Protective Coatings Market
B. Paints and Coatings Market
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