Polyurethane Coatings Market Research Report - Global Forecast Till 2027

Global Polyurethane Coatings Market: Information by Technology (Solvent-Borne, Water-Borne, Spray, Powder and Others), End-Use Industry (Automotive, Aerospace, Household, Construction, Electronics and Others) and Region (North America, Asia-Pacific, Europe, Latin America and the Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/2190-HCR | August 2022 | Region: Global | 140 Pages         

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.3 List of Assumptions

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Dynamics of the Global Polyurethane Coatings Market

4.1 Introduction

4.2 Drivers

4.3 Restraints

4.4 Opportunities

4.5 Challenges

4.6 Trends/Technology

5 Market Factor Analysis of the Global Polyurethane Coatings Market

5.1 Supply Chain Analysis

5.1.1 Raw Material Suppliers

5.1.2 Manufacturers/Producers

5.1.3 Distributors/Retailers/Wholesalers/E-Commerce

5.1.4 End User

5.2 Porter’s Five Forces Analysis

5.2.1 Threat of New Entrants

5.2.2 Bargaining Power of Buyers

5.2.3 Bargaining Power of Suppliers

5.2.4 Threat of Substitutes

5.2.5 Intensity of Competitive Rivalry

5.3 Pricing Analysis

6. Global Polyurethane Coatings Market, by Technology

6.1 Introduction

6.2 Solvent-Borne

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast, by Region, 2020-2027

6.3 Water-Borne

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast, by Region, 2020-2027

6.4 Spray

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast, by Region, 2020-2027

6.5 Powder

6.5.1 Market Estimates & Forecast, 2020-2027

6.5.2 Market Estimates & Forecast, by Region, 2020-2027

6.6 Others

6.6.1 Market Estimates & Forecast, 2020-2027

6.6.2 Market Estimates & Forecast, by Region, 2020-2027

7. Global Polyurethane Coatings Market, by End-Use Industry

7.1 Introduction

7.2 Automotive

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast, by Region, 2020-2027

7.3 Aerospace

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast, by Region, 2020-2027

7.4 Construction

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast, by Region, 2020-2027

7.5 Electronics

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast, by Region, 2020-2027

7.6 Household

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast, by Region, 2020-2027

7.7 Others

7.7.1 Market Estimates & Forecast, 2020-2027

7.7.2 Market Estimates & Forecast, by Region, 2020-2027

8. Global Polyurethane Coatings Market, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast, by Technology, 2020-2027

8.2.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, 2020-2027

8.2.4.2 Market Estimates & Forecast, by Technology, 2020-2027

8.2.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, 2020-2027

8.2.5.2 Market Estimates & Forecast, by Technology, 2020-2027

8.2.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast, by Technology, 2020-2027

8.3.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3.4 Germany

8.3.4.1 Market Estimates & Forecast, 2020-2027

8.3.4.2 Market Estimates & Forecast, by Technology, 2020-2027

8.3.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3.5 France

8.3.5.1 Market Estimates & Forecast, 2020-2027

8.3.5.2 Market Estimates & Forecast, by Technology, 2020-2027

8.3.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3.6 Italy

8.3.6.1 Market Estimates & Forecast, 2020-2027

8.3.6.2 Market Estimates & Forecast, by Technology, 2020-2027

8.3.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3.7 Spain

8.3.7.1 Market Estimates & Forecast, 2020-2027

8.3.7.2 Market Estimates & Forecast, by Technology,2020-2027

8.3.7.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3.8 UK

8.3.8.1 Market Estimates & Forecast, 2020-2027

8.3.8.2 Market Estimates & Forecast, by Technology,2020-2027

8.3.8.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3.9 Russia

8.3.9.1 Market Estimates & Forecast, 2020-2027

8.3.9.2 Market Estimates & Forecast, by Technology,2020-2027

8.3.9.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3.10 Poland

8.3.10.1 Market Estimates & Forecast, 2020-2027

8.3.10.2 Market Estimates & Forecast, by Technology, 2020-2027

8.3.10.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.3.11 Rest of Europe

8.3.11.1 Market Estimates & Forecast, 2020-2027

8.3.11.2 Market Estimates & Forecast, by Technology, 2020-2027

8.3.11.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast, by Technology, 2020-2027

8.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, 2020-2027

8.4.4.2 Market Estimates & Forecast, by Technology, 2020-2027

8.4.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.4.5 India

8.4.5.1 Market Estimates & Forecast, 2020-2027

8.4.5.2 Market Estimates & Forecast, by Technology, 2020-2027

8.4.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2020-2027

8.4.6.2 Market Estimates & Forecast, by Technology, 2020-2027

8.4.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.4.7 Australia & New Zealand

8.4.7.1 Market Estimates & Forecast, 2020-2027

8.4.7.2 Market Estimates & Forecast, by Technology, 2020-2027

8.4.7.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2020-2027

8.4.8.2 Market Estimates & Forecast, by Technology, 2020-2027

8.4.8.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast, by Technology, 2020-2027

8.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.5.4 GCC

8.5.4.1 Market Estimates & Forecast, 2020-2027

8.5.4.2 Market Estimates & Forecast, by Technology, 2020-2027

8.5.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.5.5 Israel

8.5.5.1 Market Estimates & Forecast, 2020-2027

8.5.5.2 Market Estimates & Forecast, by Technology, 2020-2027

8.5.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.5.6 North Africa

8.5.6.1 Market Estimates & Forecast, 2020-2027

8.5.6.2 Market Estimates & Forecast, by Technology, 2020-2027

8.5.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.5.7 Turkey

8.5.7.1 Market Estimates & Forecast, 2020-2027

8.5.7.2 Market Estimates & Forecast, by Technology, 2020-2027

8.5.7.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.5.8 Rest of Middle East & Africa

8.5.8.1 Market Estimates & Forecast, 2020-2027

8.5.8.2 Market Estimates & Forecast, by Technology, 2020-2027

8.5.8.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2020-2027

8.6.2 Market Estimates & Forecast, by Technology, 2020-2027

8.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.6.4 Brazil

8.6.4.1 Market Estimates & Forecast, 2020-2027

8.6.4.2 Market Estimates & Forecast, by Technology, 2020-2027

8.6.4.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.6.5 Argentina

8.6.5.1 Market Estimates & Forecast, 2020-2027

8.6.5.2 Market Estimates & Forecast, by Technology, 2020-2027

8.6.5.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.6.6 Mexico

8.6.6.1 Market Estimates & Forecast, 2020-2027

8.6.6.2 Market Estimates & Forecast, by Technology, 2020-2027

8.6.6.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

8.6.7 Rest of Latin America

8.6.7.1 Market Estimates & Forecast, 2020-2027

8.6.7.2 Market Estimates & Forecast, by Technology, 2020-2027

8.6.7.3 Market Estimates & Forecast, by End-Use Industry, 2020-2027

9. Company Landscape

9.1 Introduction

9.2 Market Strategy

9.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)

10. Company Profiles

10.1 BASF SE

10.1.1 Company Overview

10.1.2 Financial Updates

10.1.3 Product/Business Segment Overview

10.1.4 Strategy

10.1.5 Key Developments

10.1.6 SWOT Analysis

10.2 AkzoNobel NV

10.2.1 Company Overview

10.2.2 Financial Updates

10.2.3 Product/Business Segment Overview

10.2.4 Strategy

10.2.5 Key Developments

10.2.6 SWOT Analysis

10.3 Valspar Corporation

10.3.1 Company Overview

10.3.2 Financial Updates

10.3.3 Product/Business Segment Overview

10.3.4 Strategy

10.3.5 Key Developments

10.3.6 SWOT Analysis

10.4 Sherwin Williams Company

10.4.1 Company Overview

10.4.2 Financial Updates

10.4.3 Product/Business Segment Overview

10.4.4 Strategy

10.4.5 Key Developments

10.4.6 SWOT Analysis

10.5 PPG Industries, Inc.

10.5.1 Company Overview

10.5.2 Financial Updates

10.5.3 Product/Business Segment Overview

10.5.4 Strategy

10.5.5 Key Developments

10.5.6 SWOT Analysis

10.6 Axalta Coating Systems, LLC

10.6.1 Company Overview

10.6.2 Financial Updates

10.6.3 Product/Business Segment Overview

10.6.4 Strategy

10.6.5 Key Developments

10.6.6 SWOT Analysis

10.7 Asian Paints Limited

10.7.1 Company Overview

10.7.2 Financial Updates

10.7.3 Product/Business Segment Overview

10.7.4 Strategy

10.7.5 Key Developments

10.7.6 SWOT Analysis

10.8 Covestro AG

10.8.1 Company Overview

10.8.2 Financial Updates

10.8.3 Product/Business Segment Overview

10.8.4 Strategy

10.8.5 Key Developments

10.8.6 SWOT Analysis

10.9 Jotun A/S

10.9.1 Company Overview

10.9.2 Financial Updates

10.9.3 Product/Business Segment Overview

10.9.4 Strategy

10.9.5 Key Developments

10.9.6 SWOT Analysis

10.10 Evonik Industries

10.10.1 Company Overview

10.10.2 Financial Updates

10.10.3 Product/Business Segment Overview

10.10.4 Strategy

10.10.5 Key Developments

10.10.6 SWOT Analysis

10.11 Eastman Chemical Company

10.11.1 Company Overview

10.11.2 Financial Updates

10.11.3 Product/Business Segment Overview

10.11.4 Strategy

10.11.5 Key Developments

10.11.6 SWOT Analysis

10.12 Tosoh Corporation

10.12.1 Company Overview

10.12.2 Financial Updates

10.12.3 Product/Business Segment Overview

10.12.4 Strategy

10.12.5 Key Developments

10.12.6 SWOT Analysis

11. Conclusion

LIST OF TABLES


Table 1 Global Polyurethane Coatings Market: by Region, 2020-2027

Table 2 North America: Polyurethane Coatings Market, by Country, 2020-2027

Table 3 Europe: Polyurethane Coatings Market, by Country, 2020-2027

Table 4 Asia-Pacific: Polyurethane Coatings Market. by Country, 2020-2027

Table 5 Middle East & Africa: Polyurethane Coatings Market, by Country, 2020-2027

Table 6 Latin America: Polyurethane Coatings Market, by Country, 2020-2027

Table 7 Global Polyurethane Coatings Technology Market, by Regions, 2020-2027

Table 8 North America: Polyurethane Coatings Technology Market, by Country, 2020-2027

Table 9 Europe: Polyurethane Coatings Technology Market, by Country, 2020-2027

Table10 Asia-Pacific: Polyurethane Coatings Technology Market, by Country, 2020-2027

Table11 Middle East & Africa: Polyurethane Coatings Technology Market, by Country, 2020-2027

Table12 Latin America: Polyurethane Coatings Technology Market, by Country, 2020-2027

Table 13 Global Polyurethane Coatings End-Use Industry Market, by Regions, 2020-2027

Table14 North America: Polyurethane Coatings End-Use Industry Market, by Country, 2020-2027

Table15 Europe: Polyurethane Coatings End-Use Industry Market, by Country, 2020-2027

Table16 Asia-Pacific: Polyurethane Coatings End-Use Industry Market, by Country, 2020-2027

Table17 Middle East & Africa: Polyurethane Coatings End-Use Industry Market, by Country, 2020-2027

Table18 Latin America: Polyurethane Coatings by End-Use Industry Market, by Country, 2020-2027

Table19 Global Technology Market, by Region, 2020-2027

Table20 Global End-Use Industry Market, by Region, 2020-2027

Table21 North America: Polyurethane Coatings Market, by Country, 2020-2027

Table22 North America: Polyurethane Coatings Market, by Technology, 2020-2027

Table23 North America: Polyurethane Coatings Market, by End-Use Industry, 2020-2027

Table24 Europe: Polyurethane Coatings Market, by Country, 2020-2027

Table25 Europe: Polyurethane Coatings Market, by Technology, 2020-2027

Table26 Europe: Polyurethane Coatings Market, by End-Use Industry, 2020-2027

Table27 Asia-Pacific: Polyurethane Coatings Market, by Country, 2020-2027

Table28 Asia-Pacific: Polyurethane Coatings Market, by Technology, 2020-2027

Table29 Asia-Pacific: Polyurethane Coatings Market, by End-Use Industry, 2020-2027

Table30 Middle East & Africa: Polyurethane Coatings Market, by Country, 2020-2027

Table31 Middle East & Africa: Polyurethane Coatings Market, by Technology, 2020-2027

Table32 Middle East & Africa: Polyurethane Coatings Market, by End-Use Industry, 2020-2027

Table33 Latin America: Polyurethane Coatings Market, by Country, 2020-2027

Table34 Latin America: Polyurethane Coatings Market, by Technology, 2020-2027

Table35 Latin America: Polyurethane Coatings Market, by End-Use Industry, 2020-2027

LIST OF FIGURES

FIGURE 1 Global Polyurethane Coatings Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of Global Polyurethane Coatings Market

FIGURE 4 Value Chain of Global Polyurethane Coatings Market

FIGURE 5 Share of Global Polyurethane Coatings Market in 2020, by Country

FIGURE 6 Global Polyurethane Coatings Market, 2020-2027,

FIGURE 7 Global Polyurethane Coatings Market Size, by Technology, 2020

FIGURE 8 Share of Global Polyurethane Coatings Market, by Technology, 2020-2027

FIGURE 9 Global Polyurethane Coatings Market Size, by End-Use Industry, 2020

FIGURE10 Share of Global Polyurethane Coatings Market, by End-Use Industry, 2020-2027

Polyurethane Coatings Market

The polyurethane (PU) coating market growing at a CAGR of 5.4% is expected to generate global revenue of $18,669.0 million by 2030

Segmentation

By Technology Solvent Borne Water Borne Spray
By End-use Industry Automotive Aerospace Household Construction Electronics

Key Players

  • Akzo Nobel NV (Netherlands)
  • Valspar Corporation (US)
  • Sherwin Williams Company (US)
  • PPG Industries
  • Axalta Coating Systems
  • LLC (US)
  • Asian Paints Limited (India)
  • BASF SE (Germany)
  • Covestro AG (Germany)
  • Jotun A/S (Norway)
  • and Evonik Industries AG (Germany)

Drivers

  • Applications area
  • Developing countries
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Polyurethane Coatings Market Overview


Polyurethanes are produced from the reaction of polyols with polyisocyanates such as methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI). In polyurethane coatings, polyols are converted to stock coatings and mixed with polyisocyanates in a cross-link before processing, thus providing a two-component system. The properties of the PU coating could be accustomed to the polyol used in during the production process and the crosslinker selected. Polyurethane coatings offer numerous properties which include high-performance coatings with excellent abrasion and corrosion resistance, low-temperature curing, higher durability, high flexibility, good weathering features, and high optical properties. Polyurethane coatings are a flexible, robust, modified type of coating, specifically designed for the protection of electronic circuits. Polyurethane coatings have excellent mechanical and dielectric properties; it has high abrasion resistance, which is widely useful in the robust coating. Owing to these factors, the polyurethane coatings market is expected to gain significant traction during the forecast period.


The main driver for the polyurethane coatings market is because of huge demand in the automotive industry. Polyurethane coatings are majorly consumed in the automotive and transportation industry particularly, ships and automobile. The automotive coating is expected to grow to over USD 26 billion by 2025, according to MRFR analysis, which is expected to have a positive impact on the polyurethane coating market during the forecast period. PU coating is majorly used in the automotive industry due to its anti-corrosion property, which helps the automotive parts to be exposed under extreme conditions. PU coating, along with its anti-corrosion property provide the vehicle’s exterior with a high gloss, durability, and scratch resistance. These coatings are generally provided to glaze windshields and windows, provide fog resistance, and increasing strength. Additionally, the coating of automotive plastic parts while providing it an aesthetical and visually pleasing color can protect against premature mechanical or thermal failure. Thus, the automotive segment is majorly expected to define the market size of the polyurethane coating during the forecast period.


However, the fluctuations raw material prices, challenges of the production process, and cost-intensive nature of new technologies are the major bottlenecks operating in the market, which may hamper the growth of the polyurethane coatings market during the review period.


Key Players:


Some of the key players operating in the polyurethane coatings market are Akzo Nobel NV (Netherlands), Valspar Corporation (US), Sherwin Williams Company (US), PPG Industries, Inc. (US),  Axalta Coating Systems, LLC (US), Asian Paints Limited (India), BASF SE (Germany), Covestro AG (Germany), Jotun A/S (Norway), and Evonik Industries AG (Germany).


Polyurethane Coatings Market Share, by End-Use Industry, 2018 (%)  Polyurethane Coatings Market


Source: MRFR Analysis


Regional Analysis:


Asia-Pacific is the largest market of polyurethane coatings due to demand in various applications such as automotive, aerospace, electrical and construction industry, especially in China, India followed by Japan.


Moreover, growing demand in the construction industry in developing countries such as India, Indonesia, and Thailand are expected to further fuel the demand for polyurethane coatings market in the region during the forecast period. The increasing growth in industrialization and the growing government spending in the construction sector is expected to further boost the market share for the Asia-Pacific region. The growth of PU coating in the Asia Pacific region is also augmented towards the growth of electric cars in China, coupled with the growth of the overall automotive industry in the region. Owing to these factors, the market in Asia-Pacific is expected to grow in terms of both value and volume during the review period.


North America is the second-largest market in the global polyurethane coatings market after Asia-Pacific. The US is leading the market in this region, which is attributed to massive growth in the construction and automotive industry. Europe is another significant region in the global polyurethane coatings market. Major contributors to the regional market are the UK, France, Germany, and Switzerland, although the region is anticipated to witness moderate growth during the forecast period due to sluggish growth of end users and economic slowdown. Latin America is estimated to register a significant CAGR owing to the reviving economy and high growth potential of Brazil and Mexico. In coming years, the Middle East & Africa region is set to grow at considerable CAGR on account of the substantial growth opportunities offered by the construction sector.


Segmentation Analysis:


The global polyurethane coatings market has been segmented based on technology, end-use industry, and region


Based on technology, the global polyurethane coatings market has been categorized as solvent-borne, water-borne, spray, powder, and others.


By end-use industry, the global polyurethane coatings market has been divided into automotive, aerospace, household, construction, electronics, and others.


The global polyurethane coatings market, by region, has been classified as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.


Target Audience



  • Polyurethane coatings manufacturers

  • Traders and distributors of polyurethane coatings

  • Research and development institute

  • Potential investors

  • Raw material suppliers

  • National laboratory



Report Scope:
Report Attribute/Metric Details
  Market Size   Significant Value
  CAGR   2016-2023:substantial CAGR
  Base Year   2019
  Forecast Period   2023
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors and Trends
  Segments Covered   by Technology, End-Use Industry, Region
  Geographies Covered   North America, Europe, Asia-Pacific and Rest of the World (RoW)
  Key Vendors   Akzo Nobel NV (Netherlands), Valspar Corporation (US), Sherwin Williams Company (US), PPG Industries, Inc. (US), Axalta Coating Systems, LLC (US), Asian Paints Limited (India), BASF SE (Germany), Covestro AG (Germany), Jotun A/S (Norway), and Evonik Industries AG (Germany)
  Key Market Opportunities

  • Industrialization
  • Government spending in the construction sector
  •   Key Market Drivers

  • Applications area
  • Developing countries


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    Frequently Asked Questions (FAQ) :

    The polyurethane coatings market is predicted to grow at a 7.3% CAGR between 2016-2023.

    Asia Pacific is predicted to have the largest share in the polyurethane coatings market.

    Key competitor in the polyurethane coatings market include Evonik Industries AG (Germany), Jotun A/S (Norway), Covestro AG (Germany), BASF SE (Germany), Asian Paints Limited (India), Axalta Coating Systems, LLC (US), PPG Industries, Inc. (US), Sherwin Williams Company (US), Valspar Corporation (US), and Akzo Nobel NV (Netherlands).

    Huge demand from the automotive industry is one of the key factors boosting the market growth.

    Challenges in the production process, volatile raw material prices, and cost-intensive nature of latest technologies may limit the polyurethane market growth.