New Product Launch/Development: The Most PoPUlar Growth Strategy in Polyurethane Coating Market

The Polyurethane (PU) Coating Market is experiencing healthy growth which is expected to continue in the near future, majorly driven by the growing purchasing power and greater economic growth in Asia-Pacific

PU coating industry is a growing industry due to its wide spread applications. PU coating can be segmented into four major types namely solvent-borne PU coating, water-borne PU coating, high solids PU coating and PU powder coating. PU coating chemistry is based on the combination of polyisocyanates mainly TDI and MDI with polyols such as polyesters, polyacrylates, and polyethers. The market demand for PU coating is growing considerably due to the continuous enlarging of automotive & shipbuilding industry and increasing demand in Asia-Pacific due to continuous economic growth of the region.

Currently, the demand for PU coating is driven by its increasing applicability in wood & furniture, automotive & transportation, construction end industry that require material with specific characteristics. Properties like inertness to chemicals, resistance to heat, high dielectric strength, weather resistance, and others, makes PU coating a preferred material in these industries. Emerging water-borne PU coating market and 1-K PU coating system encloses the major opportunities in PU coating market. Water-borne PU coating market is a growing market as it meets the necessary environmental norms and regulations and contains low VOC which makes it a preferable coating material and hence is finding emerging applications in various industries like, wood & furniture, construction, electrical & electronics and others.

Also, 1-K PU coating system is finding popularity in the PU coating market due to its easy applicability, easy handling, negligible pot life, storage stable one-pack formulations which has increased its demand in various end use industries. Various technological innovations and advancements relative to development of 1-K PU coating system will enhance and help its market to emerge which further will play a crucial role in increasing the overall PU coating market.

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Asia-Pacific: The Biggest Market of PU Coating”

Asia-Pacific is the world’s largest and fastest-growing market of PU coating, which consumed nearly half of the total demand. China is the key consumers of PU coating in Asia-Pacific, while countries including Japan, South Korea and India have comparatively small consumption levels. Automotive & Transportation and Wood & Furniture end industries segments are driving the demand for PU coating, which in turn is pushing the demand for PU coating within the region. The growing industrial expansions in the region have also led to increased consumption of PU coating. The PU coating market is also up surging due to high penetration of water-borne PU coating and 1-K PU coating systems which have further helped the PU coating market to emerge in the region. Various innovations, developments, and expansions in different industries have in turn made the region a potential growth market for PU coating.

• Automotive & Transportation: The Biggest End-User Industry”

An estimated annual consumption of 944.4 kilo tons in 2012 makes automotive & transportation industry a leading consumer of PU coating. PU coating owing to its properties like inertness to chemicals, resistance to heat, high dielectric strength, weather resistance, and others makes it a suitable coating material to be used for flooring & decking solutions, refinishes, as a basecoat, topcoat and so on which are used in automotive & transportation industry. PU coating is also used majorly in industries like wood & furniture, industrial, construction, electrical & electronics, and textile.

AkzoNobel N.V. (The Netherlands), PPG Industries (U.S.), Sherwin Williams (U.S.), Axalta Coating Systems (U.S.), and BASF SE (Germany) are some of the major manufacturers of PU coating.

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