According to a study from MicroMarket Monitor, the Asia Pacific urethanes coating additives market was pegged at $0.6b in 2013, to grow at 6.9 percent annually. It is projected to reach $0.9b by the end of 2018. Asia Pacific Urethanes Coating Additives constitute 41.8% of the global Urethanes Coating Additives market and are poised to grow its market share to 44.9 percent by the end of 2018. It is segmented on the basis of applications and geographies.
The urethane coating additives market is mainly driven by the increasing demand from end-user sectors such as construction, bedding & furniture, construction, and automotive paints. These industries, in particular, have witnessed strong growth in the past few years, which is driving manufacturers to increase the production of urethane coating additives. It is expected that the future prospects of the industry would be dominated by additives which reduce the VOC and APEO content in the formulation.
The Asia-Pacific urethane coating additives market is expected to reach $855 million by 2018, to grow at a CAGR of 6.3 percent from 2013 to 2018. APAC is the largest urethane coating additives market in the world, as well as one of the most promising markets for urethane additives, both in terms of production as well as consumption. Availability of cheap raw material and labor, coupled with upcoming domestic demand, enables this market to be the most attractive one for industry participants.