Soft Touch Polyurethane Coatings Market to Grow at 8.2% CAGR, Reaching $15.65 Billion by 2029

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Soft Touch Polyurethane Coatings Market Outlook: How is the Market Expected to Grow by 2025?
In recent years, there has been robust growth in the size of the soft touch polyurethane coatings market. The market is projected to expand from a size of $10.74 billion in 2024 to $11.43 billion by 2025, demonstrating a compound annual growth rate (CAGR) of 6.5%. This growth over the historic period is mainly driven by factors such as consumer preference for high-end finishes, designing consumer electronics, sensitivity towards texture among consumers, resistance to scratch and wear, improvement in packaging aesthetics, and a conducive regulatory environment.

Soft Touch Polyurethane Coatings Market Forecast: What Size Will It Reach By 2029?
Forecasts predict a robust upswing in the soft touch polyurethane coatings market's size in the next couple of years. An estimated rise to $15.65 billion by 2029, boasting a compound annual growth rate (CAGR) of 8.2%, is anticipated. Factors such as the burgeoning automotive sector, escalating usage in electronics, environmentally friendly formulations, burgeoning luxury packaging market, and growth in the building and construction sector are contributing to this expansion. The demand in aerospace interiors is also fuelling the growth. Significant trends projected in this period encompass breakthroughs in UV-curable soft touch coatings, emphasis on scratch and abrasion resilience, technological progress in application techniques, adherence to regulatory norms, strategic collaborations and partnerships, along with R&D allocations for superior attributes.

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Which Key Market Drivers Will Shape Soft Touch Polyurethane Coatings Industry Trends in 2025-2029?
The soft-touch polyurethane coatings market is poised for growth, driven by the expansion of the automotive industry. The escalating urbanization and proliferation of global automakers in emerging markets facilitate the growth of this sector. The progress in this field has been underpinned by robust governmental backing, enabling it to forge a unique trajectory amongst manufacturing sectors. Such governmental support and the automotive industry's expansion trigger the soft-touch polyurethane coatings market to innovate and offer improved products for superior customer service. For instance, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based international association of automobile manufacturers, reported significant growth in the global automotive industry in 2023. The total vehicle production for the year reached 93546599 units, a considerable jump from the 85016728 units produced the previous year in 2022. Consequently, the upswing in the automotive industry will stimulate the growth of the soft-touch polyurethane coatings market.

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What Are the High-Growth Segments in 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

Which Global Trends Are Driving Soft Touch Polyurethane Coatings Market Expansion?
Innovations in technology are a major trend defining the landscape of the soft-touch polyurethane coatings market. Market participants have been tremendously inventive, presenting technological advancements like waterborne polyurethane solutions, anti-yellowing coatings, and coatings that don't rely on emulsions, all in an effort to maintain their market-related relevance and enhance customer satisfaction. Case in point, in July 2024, Stainless Steel Coatings Inc., an American organization that specializes in offering inventive coating solutions that improve the endurance and efficacy of stainless-steel surfaces, launched its new product - New Color 1051 Polyurethane Light Gray. The product, STEEL-IT 1051 Polyurethane Light Gray, has outstanding corrosion resistance as well as direct welding capability, making it fit for several purposes across construction and automotive industries. Its fast-drying nature and simple application process make it suitable for both professional and hobbyist usage, offering long-term protection that exceeds regular consumer paints. DAOTAN 7061/35WA showcases high performance and versatility, creating transparent and crack*-free surfaces.

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Who Are the Fastest-Growing Companies in the Soft Touch Polyurethane Coatings Industry?
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 Is the Regional Outlook for the Soft Touch Polyurethane Coatings Market by 2029?
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.

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