Press release
Polyurethane Coatings Market 2017 to 2023 – Market Share, Growth, Statistics, Competitor Landscape, Key Players Analysis, Trends and Forecasts
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 2023 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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Key Players
Key players of the global polyurethane coatings market are 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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Regional Analysis
The industry of polyurethane coating which comprises of the Asia Pacific region as one key markets has the largest market for polyurethane coatings owing to demand in numerous end user markets such as the aerospace and automotive industries in China followed by Japan. Growing demand for automotive product offerings in nations such as Taiwan, India and South Korea have led to the Asia Pacific region becoming the main consumer of the polyurethane coatings industry globally followed by growth in the consumption of polyurethane coatings in the North America region. 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.
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