Press release
Strong Growth Ahead: Soft Touch Polyurethane Coatings Market Size To Grow At Arecord 8.6% Cagr By 2029
Soft Touch Polyurethane Coatings
How Big Is the Soft Touch Polyurethane Coatings Market Size Expected to Be by 2034?
In recent times, there has been substantial growth in the market size of soft touch polyurethane coatings. The forecast is an increase from $10.74 billion in 2024 to $11.58 billion in 2025, characterized by a compound annual growth rate (CAGR) of 7.9%. The development during the historical period is linked to the consumer's demand for high-end finishes, the design of consumer electronics, the customer's texture sensitivity, resistance to scratch and wear, improvement of aesthetics in packaging, and a supportive regulatory environment.
In the coming years, the market size for soft touch polyurethane coatings is projected to experience robust expansion, reaching $16.1 billion by 2029, with a CAGR of 8.6%. This surge can be credited to the enlarged automotive industry, the heightened presence in electronics, eco-friendly formulations, growth in high-end packaging, development in the building and construction sector, and the rising demand in aerospace interiors. Significant trends to watch during this forecast period include progression in UV-curable soft touch coatings, emphasis on resistance to scratch and abrasion, technological advancements in application techniques, adherence to regulatory standards, strategic collaborations and partnerships, and heightened R&D investments to improve properties.
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What Are the Emerging Segments Within the Soft Touch Polyurethane Coatings Market?
The soft touch polyurethane coatings market covered in this report is segmented -
1) By Base Type: Water-Based, Solvent-Based
2) By Product Type: 2K, UV
3) By End-Use: Automotive, Aerospace, Electrical And Electronic, Furniture, Packaging, Other End-users
Subsegments:
1) By Water-Based: Acrylic-Based Polyurethane, Aliphatic Polyurethane, Polyurethane Dispersions (PUDs)
2) By Solvent-Based: Aromatic Polyurethane, Aliphatic Polyurethane, Two-Component Solvent-Based Systems
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What Long-Term Drivers Are Shaping Soft Touch Polyurethane Coatings Market Trends?
The burgeoning of the automobile sector is predicted to spur the advancement of the soft-touch polyurethane coatings market. The industry's growth is powered by urbanization and the entry of global car manufacturers into newly developing markets. This progress is furthered by stringent government backing, permitting it to establish a unique position amongst production sectors. Such governmental support and the automobile sector's growth necessitate that the soft-touch polyurethane coatings market invent improved products to enhance customer experience. As per the Organisation Internationale des Constructeurs d'Automobiles (OICA), an international automotive manufacturers association based in France, the global automotive sector saw a significant surge in 2023. The production of vehicles escalated to 93546599 units, an impressive leap from the 85016728 units produced in 2022. Consequently, the escalating automobile sector is set to fuel the progression of the soft-touch polyurethane coatings market.
Who Are the Top Competitors in Key Soft Touch Polyurethane Coatings Market Segments?
Major companies operating in the soft touch polyurethane coatings market are The Sherwin Williams Company, Akzo Nobel NV, PPG Industries Inc., RPM International Inc., Aexcel Corporation, Hunan Sokan New Materials Co., Jotun AS, Axalta Coating Systems Limited, BASF SE, Allnex Inc., Hempel A/S, Arkema SA, Hexion Inc., Lanxess AG, Covestro AG, Huntsman Corporation, Dow Inc., Wanhua Chemical Group Co. Ltd., Advanced Polymer Coatings Inc., Koninklijke DSM N.V., Evonik Industries AG, Lubrizol Corporation, Momentive Performance Materials Inc., Nippon Steel Chemical Co. Ltd., Teijin Chemical Corporation
What Soft Touch Polyurethane Coatings Market Trends Are Gaining Traction Across Different Segments?
The soft-touch polyurethane coatings market is seeing technological innovations as a major trend. Various tech advances such as waterborne polyurethane solutions, emulsion-free coatings, and anti-yellowing coatings are being developed by companies in this market to maintain their market position and enhance customer service. For example, Stainless Steel Coatings Inc., an American company specializing in innovative coating solutions to improve the durability and performance of stainless-steel surfaces, launched New Color 1051 Polyurethane Light Gray in July 2024. This product, STEEL-IT 1051 Polyurethane Light Gray, offers superior corrosion resistance and direct welding capability, making it ideal for use in construction and automotive fields. Its quick-drying formulation and easy application make it appealing to both professionals and DIYers, offering longevity that outperforms regular consumer paints. DAOTAN 7061/35WA offers high performance and adaptability, resulting in clear, crack*-free surfaces.
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Which Regions Are Becoming Hubs for Soft Touch Polyurethane Coatings Market Innovation?
Asia-Pacific was the largest region in the soft-touch polyurethane coatings market in 2024. The regions covered in the soft touch polyurethane coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Soft Touch Polyurethane Coatings Market?
2. What is the CAGR expected in the Soft Touch Polyurethane Coatings Market?
3. What Are the Key Innovations Transforming the Soft Touch Polyurethane Coatings Industry?
4. Which Region Is Leading the Soft Touch Polyurethane Coatings Market?
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