Polyurethane Powder Coating Market size is forecast to reach $16.45 billion by 2025 after growing at a CAGR of 6% during 2020-2025. Polyurethane powder coatings are surface coatings that have organic units of carbamate (or urethane) links or even thermoplastic polyurethanes. Polyurethane powder coatings have numerous advantages over other coatings such as lower operating costs, immediate availability, excellent appearance, and uniform thickness. Rising demand from the building & construction industry and growing usage of Polyurethane powder coating in the automotive sector are expected to drive the market growth.Key Takeaways
Asia-Pacific dominates the polyurethane powder coatings market owing to increasing demand from growing automotive industry in the region.
Active development of powder-based polyurethane coatings is projected to act as an opportunity for the market’s growth in the future.
Rise in prices of raw materials are likely to hinder the market growth of polyurethane powder coatings.
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By Application- Segment Analysis
The consumer goods application segment held the largest share in the Polyurethane powder coatings market in 2019. Growing purchasing power, high standard of living, and rapid urbanization are expected to drive demand for polyurethane powder coatings in consumer goods over the forecast period. The use of polyurethane powder coatings is predominant in consumer goods as these are protective coating do not contain solvents and exhibit higher flexibility than conventional liquid coatings, and comply with environmental regulations. Electrical segment is the second largest segment in polyurethane powder coatings market.
Drivers – Polyurethane Powder Coatings Market
The Growth of the Aerospace Industry
The Application of Polyurethane Coating on Wood
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the polyurethane powder coatings market. Major players in the polyurethane powder coatings market are Axalta Coating Systems, Akzo Nobel N.V., PPG Industries Inc., Jotun, The Sherwin Williams Company and among others.
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