Global Polyurethane Coatings Market Information-by Technology (Solvent-borne, Water-borne, Spray, Powder, and Others), by End User (Automotive Industry, Aerospace Industry, Household Industry, Construction Industry, Electronics Industry, and Others) and by Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 04/17/2018 -- The Global Polyurethane Coatings Market, by geography, has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and South America. In the global polyurethane coatings market, Asia Pacific is expected to witness comparatively faster growth and hence the growth rate as compared with other regions such as North America, Europe, and others.
In Asia Pacific, automotive and construction industry is anticipated to give the faster growth in terms of consumption and production due to increasing demand of aerospace industry and household industry in countries such as China, Japan, and India. Furthermore, many key players of polyurethane coatings such as Akzo Nobel N.V. (Europe), Valspar Corporation (US), Sherwin Williams Company (US), and others, are entering in the different region to increase the more market size of polyurethane coatings. In APAC region, China has the biggest market of polyurethane paints in terms of production and consumption because in the past years many construction and manufacturing companies have increased in numbers in China, which has additionally increased the demand of polyurethanes coatings.
Owing to this, the local production of Polyurethane Coatings in China has increased rapidly with both huge multinationals and local producers arriving into the market. On the other hand, Increasing standard of living and rise in per capita incomes of the consumers is expected to be major driving factor for automotive industry, which is further increase the polyurethane coatings market to grow in this region. Other major countries such as India and Japan are likely to exhibit higher demand for polyurethane coatings in few years.
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The Polyurethane Coatings market in North America holds the second position in terms of healthy growth of Polyurethane Coating Market, In North America, countries such as US, Mexico, and Canada are expected to drive the growth of Global Polyurethane Coatings Market. Technological developments and volume extensions are expected to give big opportunities for the Polyurethane Coatings Market in upcoming years. While, strict environmental regulations and unstable prices of raw materials cause as a major restraint for the Polyurethane Coatings Market in next years.
Furthermore, in Europe region increasing demand from automotive and household industry (coatings applications in wood & furniture) are the major drivers for polyurethane coatings in this region. Germany, Italy and UK has the biggest demand for polyurethane coatings in this region. Europe has biggest market demand of polyurethane powder coatings from various end-user industries such as household industry, construction, electronics industry, and others (transportation, textile). Latin America, and the Middle East and Africa regions accounted for smaller shares in the global intraocular lens market in 2016. The Rest of the World is expected to show potential growth for the polyurethane coatings market in the forecasted period.
Key players profiled in the Global Polyurethane Coatings Market includes 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.
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