Market Research Future Published a Research Study on Polyurethane Coatings Market Research Report – Global Forecast Till 2025
Industry News Update:
August 2019 – A team of chemists in Illinois is creating an eco-friendly polyurethane, a polymer that is hard to recycle which is used in various daily products. The molecules which make the polyurethane are tweaked so that after their initial purpose is served, these can be converted into useful materials as well as given another life.
Apr 2018 – Covestro AG has recently made public information that its first-quarter net profit has risen by more than 35 percent mainly due to higher prices and robust demand. The firm also stated that their polyurethanes and polycarbonates divisions were the main drivers for the sales of the firm, as higher prices through all regions have balanced the unfavourable currency swings and slight decline in volumes.
Polyurethane Coatings Market Overview:
According to the studies conducted by Market Research Future, the global polyurethane coatings market is probable to witness tremendous growth by gaining a valuation of USD 3781.2 KT by 2023. The market is also set to register a CAGR of 7.3% from 2018 to 2023, which portrays that the market is proliferating at a rapid pace and will continue to so in the future timeline.
Polyurethane coating considered as a layer of polymer applied to the surface of material referring to protect it from corrosion and weathering. Such coatings embrace high durability and toughness and inflammable. Thus, it can be used in places where combustion occurs. Polyurethane is generally produced by reacting polyalcohol with organic di-isocyanate and polyisocyanate. This reaction results in creating an exceptional wear resistance. These coatings are, hence, flexible, robust and are specifically designed for the protection of electronic circuits, and are majorly used for surface coatings, furniture, and packaging.
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The global polyurethane coating market is rapidly changing owing to the moves by leading players, continuous developments, product launches, joint ventures, mergers and accusations, and more. The above factors show that the global polyurethane coatings market for wood and furniture globally is mounting and will drive for more demand for polyurethane coating in the future timeline.
Polyurethane Coatings Market Competitive Analysis:
Challengers in the market who are constantly delivering customer value have devised their corporate strategy blueprint in a manner that can bring about the best outcomes for development in the current scenario, while also concurrently enhancing their product’s value. This state of events has shaped the opportunities for improvements in portfolio along with diversification in the sector, which has enhanced the scenario for market competitors immensely in this industry. The capability to fuel their competitive edge is one of the chief causes powering their efforts in this period. The opportunity for development in the industry appears to be encouraging through the forecast period. The escalating interest for diversification in the industry, has indirectly allowed the companies to utilize many scenarios available in the industry. The firms in this industry are also trying to improve and preserve financial liquidity that can be vital to invest in growth prospects as and when they arise.
Polyurethane Coatings Market Key Players:
In the reports of Market Research Future Reports, the key players of the global polyurethane coatings market are listed as Akzo Nobel N.V.(Europe), Valspar Corporation (US), Sherwin Williams Company (US), PPG Industries, Inc. (US), Axalta Coating Systems, LLC (US), Asian Paints Limited (India), BASF SE (Europe), Covestro AG (Europe), Jotun A/S (Europe), Evonik Industries (Europe),and Others.
Polyurethane Coatings Market Segmentation:
The segmentation of the polyurethane coatings industry globally is broadly segmented on the basis of end users, technology and region. The technology-based segmentation of the market comprises of spray, powder, solvent-borne, water-borne, and others such as high solids and acrylic based. The end user segment of the market consists of aerospace industry, automotive, construction, household industry, electronics industry among others such as transportation, textile. Finally, on the basis of region the market is segmented into Europe, APAC, Latin America, North America and Middle East & Africa.
The industry of polyurethane coating which comprises of the Asia Pacific region as one key market has the largest market for polyurethane coatings owing to demand in numerous end user markets such as the aerospace and automotive industries in China followed by Japan. Growing demand for automotive product offerings in nations such as Taiwan, India and South Korea have led to the Asia Pacific region becoming the main consumer of the polyurethane coatings industry globally followed by growth in the consumption of polyurethane coatings in the North America region. The third largest market in the industry is the European region. The Middle East and Latin American region have also observed significant growth in the industry due to the innumerable applications for the industry such as aerospace industry, construction, household industry, automotive, electronics industry among others.
Polyurethane Coatings Market Table Of Contents to be Continue……,
Browse key industry insights spread across 140 pages with 35 market data tables & 10 figures & charts from the report, “Global Polyurethane Coatings Market Information by Technology (Solvent-Borne, Water-Borne, Spray, Powder) End-Use Industry (Automotive, Aerospace, Household, Construction, Electronics) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast, 2025” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/polyurethane-coatings-market-2976
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