Future Market Insights (FMI) has released its latest market survey revealing that the global PU Coating market achieved a valuation of US$ 17,769.5 Million in 2022, with a projected compound annual growth rate (CAGR) of 5.2% during the period from 2022 to 2032. FMI anticipates the market to exceed a valuation of US$ 29,782.3 Million by the end of the forecast period. Despite being relatively nascent and open to new players, the PU Coating industry is poised to constitute approximately 3.1% of the global polymer market.
The demand for advanced manufacturing techniques and rapid prototyping has significantly boosted the metal PU Coating sector. The growth of the automotive industry, driven by rising standards of living and increasing per capita incomes, is also expected to indirectly contribute to the expansion of the PU coatings market. The study highlights a remarkable CAGR of 4.9% in the PU Coatings market between 2017 and 2021, primarily attributed to the surging need for polyurethane products within the automotive and transportation sectors.
The market’s progression faced setbacks due to the adverse impacts of COVID-19 and a struggling automobile sector in 2020, which were predicted to recover by 2021. Nevertheless, FMI’s latest survey predicts a CAGR of 5.3% for the PU Coating materials market between 2022 and 2032. This growth will be driven by the increasing use of PU Coating in construction, both in developing countries with expanding construction rates and developed countries experiencing renovation activity. Government initiatives like smart cities and rising infrastructure spending, alongside the surge in demand for eco-friendly buildings, are expected to further propel industry growth.
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The report conducts an in-depth analysis into factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for the demand and sales across seven major regions. It also provides refines sales projections and assist market players in identifying the remunerative segments among the verticals.
Upsurge in the Trend of Green Chemistry to Facilitate the Growth in the PU Coating Market
Governments of several countries are emphasizing on implementing regulations on chemicals that are hazardous for environment, owing to the rising concerns regarding environment sustainability. Hence, growing trend of green chemistry or sustainable chemistry is being witnessed across the chemical industry.
Citing this trend, chemical manufacturers are reviewing their business strategies and shifting their focus towards adopting eco-friendly practices for the production of sustainable alternatives or less toxic chemicals. This is expected to favor the growth in the PU Coating market.
Key PU Coating Market Takeaways and Projections
- The US will lead the North America PU Coating market, projecting the fastest growth in the region between forecast period
- Germany will collectively hold the largest share in the Europe market over the assessment period.
- India will emerge as a highly remunerative market in South Asia, contributing significant revenue share in the region through forecast period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- In terms of segments, will hold the lion’s share in the market, expanding at a robust CAGR during the next ten years.
Competitive Landscape Analysis
The survey offers insights into critical trends and opportunities across technology industry and studies their impact on demand-supply forces in the PU Coating market. It also profiles a list of prominent companies including
- PPG Industries
- BASF SE
- Sherwin William
- Axalta Coating System
- Jotun
- Covestro AG
- Evonik Industries AG
- Sherwin Williams Company
- Jotun A/S
- Akzo Nobel N.V.
- Techchoat Contractors Inc.
- Ellsworth Adhesives
- RPM International Inc.
- Valspar Corporation
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Key Segments Profiled in the PU Coating Industry Survey
Market Segmentation
By Application Method:
- Spray
- Brush
- Roller
By Substrate Material:
- Concrete
- Metal
- Wood
- Plastic
- Fabric
- Cotton
- Leather
- Nylon
- Others
- Others
By Grade:
- Technical Grade
- Industrial Grade
By Packaging:
- Cans
- Plastic Drums
- Others
By Application:
- Pavement
- Industrial Flooring
- Metal Roofs
- Pipeline Externals
- Automotive Finishes
- Wind Turbines
- Industrial Equipment
- Airport Hanger Floors
- Others
By End Use:
- Furniture
- Marine Industry
- Construction
- Residential Construction
- Commercial Construction
- Automotive
- Commercial Vehicle
- Passenger Vehicle
- Electronics
- Circuit Board
- Transformer
- Relays
- Aerospace,
- Textile
- Fashion Garments
- Leather Items
- Power & Energy Industry
- Wind
- Solar
- Hydro
By Region:
- North America
- Latin America
- Europe
- South Asia Pacific
- East Asia
- Middle East & Africa
Why Buy FMI’s Report?
- Extensive analysis on high growth niche markets across major regions
- Detailed assessment on key segments and sub-segments
- Recent and upcoming strategies tracked of manufacturers for the PU Coating market
- Reliable information on new product launches, technological advancements, and more
- Valuable insights on the impact of regulatory framework on the global PU Coating market
About Future Market Insights, Inc. (FMI)
Future Market Insights, Inc. (ESOMAR-certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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