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.
Asia-Pacific leads in the consumption of PU coating. The consumption of PU coating in the other regions is industry specific. Solvent-borne PU coating share a large consumption both in the Asia-Pacific and ROW region. The consumption of PU coating in automotive & transportation industry is dominating in all the regions. The growth of fast developing countries in the Asia–Pacific assures innovation and increase in consumption of PU coating. Also, increasing purchasing power in the developing countries and need for high performance products may add to the high demand in the future.
PU Coating Market by Type (Solvent-borne, Water-borne, High Solids, Powder), End Industry (Automotive & Transportation, Wood & Furniture, Industrial, Textile, Construction, Electrical & Electronics) & Geography - Trends & Forecasts to 2018
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