by Polyurethane Resins are a type of synthetic resins made through polymerization of diisocyanate and polyols. They are widely used in paints and coatings sector owing to advantages like excellent adhesion, durability and corrosion resistance. Polyurethane resins based paints and coatings are an essential part of infrastructure projects and find applications in residential & commercial construction for protection of walls, floors and other surfaces.
The Global Polyurethane Resins Paints And Coatings Market Size is estimated to be valued at US$ 40673.14 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The construction industry has been growing consistently over the past few years majorly in developing economies. This rising demand from construction sector is the key driver propelling the polyurethane resins paints and coatings market. Polyurethane resins based paints and coatings are widely used in infrastructure projects for protection and decoration of surfaces. Their properties like durability, flexibility and resistance to corrosion makes them ideal for application in buildings. With increasing investments in commercial and residential construction, the demand for polyurethane resins paints and coatings is expected to rise substantially over the forecast period.
SWOT Analysis
Strength: Polyurethane resins paints and coatings provide excellent chemical and corrosion resistance. They also offer durability and flexibility.
Weakness: Polyurethane resins paints and coatings require the use of volatile organic compounds in their manufacturing, posing environmental concerns. They also have a higher initial cost compared to other coating types.
Opportunity: Growing infrastructure and construction sectors in developing regions offer significant opportunities for polyurethane resins paints and coatings manufacturers. Increasing research on bio-based and environment-friendly polyurethane variants also present opportunities.
Threats: Stringent environmental regulations around the world on VOC emissions act as a threat. Fluctuations in raw material prices also impact the market.
Key Takeaways
The global polyurethane resins paints and coatings market is expected to witness high growth. The global Polyurethane Resins Paints and Coatings Market is estimated to be valued at US$ 40673.14 Bn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.
Asia Pacific is expected to dominate the market during the forecast period. This is attributed to rapid urbanization and industrialization activities in major economies such as China and India. Growing construction and automotive sectors in the region further support market growth.
Key players analysis comprises:
Key players operating in the polyurethane resins paints and coatings market are F. Hoffmann-La Roche Ltd, Becton Dickinson & Company, Cepheid (Danaher),Siemens Healthineers, Abbott, Diasorin S.p.a., Thermo Fisher Scientific Inc. , Qiagen, BIOMÉRIEUX, Hologic Inc., Bio Rad Laboratories, Quidel Corporation, EKF Diagnostics, SEKISUI Diagnostics, DiaSys-Diagnostic Systems GmbH, InBios International, Inc., Jiangsu Mole Bioscience Co., Ltd., ACON Laboratories, Inc., Visby Medical, Inc., UNIMA, INC. These companies are focusing on new product launches and expansion strategies to strengthen their market position.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
