Global urethane coatings market demonstrates robust growth, driven by demand in construction, automotive, and industrial sectors. Urethane offers exceptional durability, versatility, and increasing compliance with environmental regulations. Asia Pacific leads the market, fueled by rapid industrialization and infrastructure development. Innovation focuses on sustainability, advanced performance properties, and integration with emerging technologies.
New Delhi, March 08, 2024 (GLOBE NEWSWIRE) -- According to the latest research by Astute Analytica, the global urethane coatings market is projected to reach US$ 33.74 billion by 2032, up from US$ 19.41 billion in 2023, at a CAGR of 6.33% during the forecast period 2024-2032.
Superior performance attributes are what make urethane coatings dominant in the market. These coatings can withstand high-traffic and industrial settings with exceptional abrasion resistance, making them extremely tough and long-lasting. They also have strong chemical resistance which makes them perfect for heavy duty jobs. For certain formulations, they can work in temperatures up to 150°C (300° F) without losing their integrity, a huge advantage. Aliphatic urethane coatings also set the bar for UV resistance by preventing yellowing and degradation, so they're essential for outdoor applications.
The shift towards more environmentally-friendly solutions is starting to take shape in the global urethane coatings market. While 1K (one-component) and 2K (two-component) systems are still common, water-based urethane coatings are gaining popularity because of their reduced VOC emissions among end users. Regulations are expected to become stricter in the future, so they're a good investment for companies looking to get a head start on compliance. As per Astute Analytica, the market garnered most of its revenue from automotive, furniture, industrial machinery, and construction industries where coatings play a crucial role.
New Delhi, March 08, 2024 (GLOBE NEWSWIRE) -- According to the latest research by Astute Analytica, the global urethane coatings market is projected to reach US$ 33.74 billion by 2032, up from US$ 19.41 billion in 2023, at a CAGR of 6.33% during the forecast period 2024-2032.
Superior performance attributes are what make urethane coatings dominant in the market. These coatings can withstand high-traffic and industrial settings with exceptional abrasion resistance, making them extremely tough and long-lasting. They also have strong chemical resistance which makes them perfect for heavy duty jobs. For certain formulations, they can work in temperatures up to 150°C (300° F) without losing their integrity, a huge advantage. Aliphatic urethane coatings also set the bar for UV resistance by preventing yellowing and degradation, so they're essential for outdoor applications.
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The shift towards more environmentally-friendly solutions is starting to take shape in the global urethane coatings market. While 1K (one-component) and 2K (two-component) systems are still common, water-based urethane coatings are gaining popularity because of their reduced VOC emissions among end users. Regulations are expected to become stricter in the future, so they're a good investment for companies looking to get a head start on compliance. As per Astute Analytica, the market garnered most of its revenue from automotive, furniture, industrial machinery, and construction industries where coatings play a crucial role.