"Asia-Pacific: The Biggest Market of PU Coating"
Asia-Pacific is the world’s largest and fastest-growing market of PU coating, which consumed nearly half of the total demand. China is the key consumers of PU coating in Asia-Pacific, while countries including Japan, South Korea and India have comparatively small consumption levels. Automotive & Transportation and Wood & Furniture end industries segments are driving the demand for PU coating, which in turn is pushing the demand for PU coating within the region. The growing industrial expansions in the region have also led to increased consumption of PU coating. The PU coating market is also up surging due to high penetration of water-borne PU coating and 1-K PU coating systems which have further helped the PU coating market to emerge in the region. Various innovations, developments, and expansions in different industries have in turn made the region a potential growth market for PU coating.
"Water-Borne PU Coating: The Fastest Growing Segment by Type"
Water-borne PU coatings use water as a base for the solvent, which makes them eco-friendly and easy to apply. Water-borne PU coating is consumed in all the end industries and for all the applications like metal coating, plastic coating, wood coating, fiber coating and others. Water-borne PU coating is the fastest growing PU coating with a CAGR of 7.4% to 2018. The major growth driver for water-borne PU coating is its low VOC content which makes it a preferable coating material in various industries. The water-borne PU coating market has a wide scope for its expansion which in turn would help in increasing consumption of PU coating. Solvent-borne PU coating remains the dominant PU coating type and is expected to be the largest in coming future.
"Automotive & Transportation: The Biggest End-User Industry"
An estimated annual consumption of 944.4 kilo tons in 2012 makes automotive & transportation industry a leading consumer of PU coating. PU coating owing to its properties like inertness to chemicals, resistance to heat, high dielectric strength, weather resistance, and others makes it a suitable coating material to be used for flooring & decking solutions, refinishes, as a basecoat, topcoat and so on which are used in automotive & transportation industry. PU coating is also used majorly in industries like wood & furniture, industrial, construction, electrical & electronics, and textile.
AkzoNobel N.V. (The Netherlands), PPG Industries (U.S.), Sherwin Williams (U.S.), Axalta Coating Systems (U.S.), and BASF SE (Germany) are some of the major manufacturers of PU coating.