Latest News- Polyurethane Coatings Market: Wood and furniture is expected to lead the End-user segment during 2024-2028

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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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Wood and furniture
  • Automotive and transportation
  • Electrical and electronics
  • Others
• Type
  • Solvent-borne
  • Water-borne
  • Others
• Geography
  • APAC
    • China
    • Japan
  • Europe
    • Germany
    • UK
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand from transportation industry
• Increasing application of polyurethane coatings on wooden products
• Expansion of building and construction industry

However, the market also witnesses some limitations, which are as follows:

• Environmental regulations
• Cost-intensive nature of production technologies
• Volatile raw material prices

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Market Scope in Polyurethane Coatings Market Research Report

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Research Analysis Overview

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.

Market Research Overview

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
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/