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Global Polyurethane Coating Market Size, Growth, Forecast: By Type: Solvent-Borne, Water-Borne, High Solids, PU Powder Coating, Others; By End User Industry: Automotive and Transportation, Aerospace, Wood and Furniture, Construction, Textile and Apparels, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Polyurethane Coating Market Outlook
The global polyurethane coating market stood at a value of more than USD 19.36 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.5% to reach over USD 31.34 billion by 2032.
Water-Borne Type to Hold a Significant Share of the Global Polyurethane Coating Industry
The desirable properties of water-borne polyurethane coatings such as its surface hardness, high performance in low temperature, and user-friendliness, among others are propelling the demand for the product in various end use industries. In addition to this, the rising application of water-borne polyurethane coatings on substrates sensitive to solvents is anticipated to bolster the market growth in the forecast period.
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The Asia Pacific Accounts for a Significant Share in the Polyurethane Coating Industry
The polyurethane coating industry in the Asia Pacific is driven by the rising investments in protective coatings and the increasing construction activities in the region owing to the rapid urbanisation and rising standards of living. The significant increase in indigenous manufacturing in countries like India and China has further propelled the market. Furthermore, a strong presence of several manufacturers in the region is anticipated to offer lucrative opportunities to the market in the forecast period.
Polyurethane Coating: Market Segmentation
Polyurethane coating is defined as a polymer that contains a chain of organic units and is applied on the surface of a substrate for the purpose of protecting it. Polyurethane coating helps a substrate from corrosion, weathering, abrasion, and other deteriorating processes. Moreover, polyurethane coatings have a high-tensile strength, modulus, percent elongation, and shore hardness.
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Based on type, the market can be segmented into:
- Solvent-Borne
- Water-Borne
- High Solids
- PU Powder Coating
- Others
The segmentation of the market based on end user industry is as follows:
- Automotive and Transportation
- Aerospace
- Wood and Furniture
- Construction
- Textile and Apparels
- Electrical and Electronics
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Rising Application of Polyurethane Coating in the Automotive Sector to Boost the Growth of the Polyurethane Coating Industry
The rising application of polyurethane coating in the automotive and transportation industry is driving the market growth. Polyurethane coatings are widely utilised as an automobile primer, intermediate coat, and finishing paint in the automobile industry. In addition to this, the rapid industrialisation and urbanisation is further augmenting the growth of the market. Moreover, the increasing sales of commercial and passenger cars in emerging economies are likely to provide a further impetus to the market growth in the forecast period.
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Key Industry Players in the Global Polyurethane Coating Market
The report gives a detailed analysis of the following key players in the global polyurethane coating market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Akzo Nobel N.V.
- BASF SE
- Sherwin-Williams Company
- PPG Industries, Inc.
- Axalta Coating Systems, LLC
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End User Industry |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Polyurethane Coating Market Analysis
8.1 Key Industry Highlights
8.2 Global Polyurethane Coating Historical Market (2018-2023)
8.3 Global Polyurethane Coating Market Forecast (2024-2032)
8.4 Global Polyurethane Coating Market by Type
8.4.1 Solvent-Borne
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Water-Borne
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 High Solids
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 PU Powder Coating
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Polyurethane Coating Market by End User Industry
8.5.1 Automotive and Transportation
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Aerospace
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Wood and Furniture
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Construction
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Textile and Apparels
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Electrical and Electronics
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Polyurethane Coating Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Polyurethane Coating Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Polyurethane Coating Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Polyurethane Coating Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Polyurethane Coating Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Polyurethane Coating Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (390950)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Akzo Nobel N.V.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 BASF SE
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Sherwin-Williams Company
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 PPG Industries, Inc.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Axalta Coating Systems, LLC
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Polyurethane Coating Market: Key Industry Highlights, 2018 and 2032
2. Global Polyurethane Coating Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Polyurethane Coating Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Polyurethane Coating Historical Market: Breakup by End User Industry (USD Billion), 2018-2023
5. Global Polyurethane Coating Market Forecast: Breakup by End User Industry (USD Billion), 2024-2032
6. Global Polyurethane Coating Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Polyurethane Coating Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Polyurethane Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Polyurethane Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Polyurethane Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Polyurethane Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Polyurethane Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Polyurethane Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Polyurethane Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Polyurethane Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Polyurethane Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Polyurethane Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Major Importing Countries by Volume (2021)
19. Major Exporting Countries by Volume (2021)
20. Major Importing Countries by Value (2021)
21. Major Exporting Countries by Value (2021)
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Global Polyurethane Coating Market Structure
Key Questions Answered in the Report
In 2023, the global polyurethane coating market attained a value of more than USD 19.36 billion.
The market is estimated to grow at a CAGR of 5.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach over USD 31.34 billion by 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the industry, such as the increasing product demand in the automotive and building and construction industries, growing industrialisation and urbanisation, and the increasing focus of major manufacturers on market expansion, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing research and development activities by the manufacturers to provide improved coating solutions.
Solvent-borne, water-borne, high solids, and PU powder coating, among others are the major polyurethane coating types in the market.
Automotive and transportation, aerospace, wood and furniture, construction, textile and apparels, and electrical and electronics, among others are the different applications of polyurethane coatings.
The major players in the industry are Akzo Nobel N.V., BASF SE, Sherwin-Williams Company, PPG Industries, Inc., and Axalta Coating Systems, LLC, among others.
Analyst Review
The global polyurethane coating market attained a value of over USD 19.36 billion in 2023, driven by the growing product demand in the major end use industries. Aided by the increasing investments by manufacturers to offer improved coating solutions, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.5%. The market is projected to reach USD 31.34 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is divided into solvent-borne, water-borne, high solids, and PU powder coating, among others. On the basis of application, the market is divided into automotive and transportation, aerospace, wood and furniture, construction, textile and apparels, and electrical and electronics, among others. The major regional markets for polyurethane coating are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Akzo Nobel N.V., BASF SE, Sherwin-Williams Company, PPG Industries, Inc., and Axalta Coating Systems, LLC, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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