The Polyurethane Coatings Market is being driven by Growing demand from transportation industry
The Polyurethane Coatings Market is expected to grow at a CAGR of 6.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 11378.7 million.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
188 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 11378.7 million |
Market structure |
fragmentation |
YoY growth 2023-2024(%) |
6.23 |
Key countries |
China, US, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Polyurethane Coatings Market encompasses various types of protective coatings, including Polyurea, Epoxy, Acrylic, Polyester, Alkyd, Silicone, Fluoropolymer, Nano, Hybrid, and more. These coatings offer distinct advantages such as thermal conductivity, insulation rating, and fire resistance, adhering to ASTM and ISO standards. Coatings formulation involves pigmentation technology, colorant dispersion, rheology control, and surface tension. Application equipment includes spray guns and air compressors, while inspection, quality control, failure analysis, repair, and maintenance ensure the coating's lifecycle.
The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals used in the production of various products, such as fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the market's size is determined by the consolidated revenue of these businesses. Factors propelling the market's expansion include the increasing preference for specialty adhesives and sealants. Specifically, the demand for these products is anticipated to fuel market growth throughout the forecast period. Within the coatings sector, polyurethane coatings, including solvent-based, water-based, two-part, one-part, high-performance, protective, and decorative variants, are significant contributors to the specialty chemicals market's growth trajectory. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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