Polyurethane Coatings Market Overview:
The properties of polyurethanes have benefitted the growth of its industry by their application in various sectors. Market focused reports related to the chemicals and materials sector among others recently have been made available by Market Research Future which publishes reports on this sector. The industry is expected to record substantial growth in terms of earnings of USD 3781.2 by 2025 along with a CAGR of 7.3 percent in the forecast period.
The flexibility and toughness of polyurethane coatings have led to their amplified use in the transportation and automotive sector. The anti-corrosive and anti-abrasive properties have intensified their application in products of various end user sectors. Use of polyurethane coatings in flooring applications have provided additional opportunities for growth of the industry. Exceptional weathering performance characteristics have further increased the expansion of the market.
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Polyurethane Coatings Industry Update:
Apr 2018 Covestro AG has recently made public information that its first-quarter net profit has risen by more than 35 percent mainly due to higher prices and robust demand. The firm also stated that their polyurethanes and polycarbonates divisions were the main drivers for the sales of the firm, as higher prices through all regions have balanced the unfavorable currency swings and slight decline in volumes.
Polyurethane Coatings Market Competitive Analysis:
Challengers in the market who are constantly delivering customer value have devised their corporate strategy blueprint in a manner that can bring about the best outcomes for development in the current scenario, while also concurrently enhancing their product’s value. This state of events has shaped the opportunities for improvements in portfolio along with diversification in the sector, which has enhanced the scenario for market competitors immensely in this industry. The capability to fuel their competitive edge is one of the chief causes powering their efforts in this period. The opportunity for development in the industry appears to be encouraging through the forecast period. The escalating interest for diversification in the industry, has indirectly allowed the companies to utilize many scenarios available in the industry. The firms in this industry are also trying to improve and preserve financial liquidity that can be vital to invest in growth prospects as and when they arise.
The major players shaping the competitive landscape of the market include Valspar Corporation (US), Akzo Nobel N.V. (Europe), Sherwin Williams Company (US), Axalta Coating Systems, LLC (US), PPG Industries, Inc. (US), Evonik Industries (Europe), Asian Paints Limited (India), BASF SE (Europe), Covestro AG (Europe), Jotun A/S (Europe) and others.
Polyurethane Coatings Market Regional Analysis:
In the reports of MRFR, geographically, the global polyurethane coatings market has covered main regions of North America, Europe, APAC, Latin America, Middle East & Africa.
Among all, Asia Pacific has been the largest market of polyurethane coatings owing to high demand in the various end-user industry such as automotive and aerospace industry in countries such as China and Japan. Also, increasing demand for automotive and in countries of India, Taiwan, and South Korea has made the Asia Pacific the largest consumer of the global polyurethane coatings market since last few years.
The third largest market in the industry is the European region. The Middle East and Latin American region have also observed significant growth in the industry due to the innumerable applications for the industry such as aerospace industry, construction, household industry, automotive, electronics industry among others.
Polyurethane Coatings Market Segmentation:
According to MRFR’s reports, the global polyurethane coatings market has been majorly segmented on the basis of technology, end users, and region.
By the mode of technology, the polyurethane coatings market includes solvent-borne, water-borne, spray, powder, and others (high solids, acrylic-based).
By the mode of end user, the market segmented into the automotive, aerospace industry, household industry, construction, electronics industry, and others (transportation, textile).
Polyurethane Coatings Market Table Of Contents to be Continue……,
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