Dublin, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The "Polyurethane (PU) Coatings Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The Global Polyurethane (PU) Coatings Market was valued at $18.26 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.21% through 2028
The comprehensive analysis of the Global Polyurethane (PU) Coatings Market offers strategic insights and a detailed outlook for the industry from the period of 2018 through 2028. As a crucial component in a myriad of industries, from automotive to construction, the report dives deep into the market's expansion, the thriving substrate segments, and noteworthy regional developments.
Market Insights Highlight PU Coatings' Versatility and Eco-Friendly Progression
Polyurethane coatings, acclaimed for their durability, chemical resistance, and flexible properties, are encountering robust demand across diverse sectors. The automotive industry recognizes their effectiveness in vehicle protection, whereas in construction, they are essential for dependable waterproofing and insulation. The rising trend of sustainable and eco-conscious products aligns with advancements in this market, as manufacturers actively engage in research to formulate innovative, low-emission PU coatings.
Medical and Automotive Sectors Accelerate Market Growth
Enhanced safety standards in the medical device arena and the growing production in the automotive industry propel forward the global polyurethane coatings market. PU coatings' capacity to inhibit infection risks in healthcare environments and their superior resistance to automotive stressors underscore the integral role these products play in safeguarding patient well-being and extending vehicle longevity respectively.
Raw Material Volatility Challenges Sustainability Initiatives
The volatility of raw material prices presents an operational challenge that the industry navigates through strategic supplier relationships and advancements in technology for procurement optimization.
Waterborne Formulations Emerge as Eco-Friendly Solutions
A significant pivot towards waterborne PU coatings, driven by environmental stewardship and strict VOC regulations, is a prominent trend in the sector. Investments flow into developing waterborne solutions that marry performance with sustainability, illustrating the industry's commitment to a greener future.
Segmental Insights Reveal Metal Substrates Spearheading Demand
Within substrate insights, the metal segment dominates due to its critical need for rust and corrosion protection. End-user analysis predicts the automotive sector will continue to surge with increasing vehicle production and consumption necessitating durable coatings.
From a regional perspective, the Asia Pacific region leads the market share, with key economies contributing significantly to usage within vital industries. The report provides granular details regarding substrate types, end-user industries, and geographical representation, ensuring an encompassing view of the market.
The competitive landscape section offers a thorough analysis of major companies shaping the Global Polyurethane (PU) Coatings Market, imparting key decision-makers with vital company profiling and market positioning.
In summary, the report anticipates sustained growth and innovation in the global polyurethane coatings market, with a keen focus on technological advancements, regional market demands, and the sustained push for eco-friendly products.
The future outlook is bright, marked by the market's resilient expansion and the industry's readiness to meet the needs of a diverse range of applications while adopting more sustainable and environmentally conscious approaches.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $18.26 Billion |
| Forecasted Market Value (USD) by 2028 | $24.73 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Report Scope:
In this report, the Global Polyurethane (PU) Coatings Market has been segmented into the following categories:
Polyurethane (PU) Coatings Market, By Substrate:
- Metal
- Ceramic
- Composite
- Others
Polyurethane (PU) Coatings Market, By End User:
- Electronics
- Industrial
- Medical
- Automotive
- Others
Companies Profiled:
- Akzo Nobel
- Asian Paints Limited
- Axalta Coating Systems
- BASF SE
- IVM Chemicals
- Jotun A/S
- Polycoat Products
- PPG Industries
- RPM International
- The Sherwin-Williams Company
For more information about this report visit https://www.researchandmarkets.com/r/2jb2zn
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