Polyurethane Paints & Coatings Market to Cross $20-bn by 2025

A market research report by Germany’s Ceresana has forecast the revenues generated in the global polyurethane (PU)-based paints and coatings market to reach about $20.3-bn by 2025.

PU-based two-component coatings are solid, offer good resistance to aggressive chemicals, weathering and mechanical stress.

The most important application areas for PU-based paints and coatings are furniture & wood processing, transportation, and other industries. In 2017, approximately 53% of global demand was in Asia-Pacific, followed by North America and Western Europe.

Application areas

The most important sales market for PU-based paints and coatings in 2017 was wood processing/furniture, with a share of 37% of total global demand. Colour, structure and pore formation of the wood are properties, which should be retained or reinforced during coating. Two-component PUR systems are highly reactive, can be sanded quickly, are resistant to household chemicals, have a good filling power, improve grain contrasts, and provide mechanical stability.

Demand for PU-based coatings for vehicles (OEM and refinishing) accounted for more than 28% of the global market in 2017. Series painting (OEM coatings) can be divided into the stages cathodic electrodeposition, car underbody protection and application of primer surfacers, basecoat and clearcoat. The electrodeposition coating protects from corrosion, primer surfacers provide an even foundation, the basecoat provides colour and effect, and the clearcoat offers chemical and scratch resistance. Refinishing coatings is used in case of damages, for used cars as well as for special coating for new vehicles. “Of all application areas of PU-based coatings, the segment transportation (OEM) will account for the highest growth in percentages until 2025 at rates of 3.9% per year,” the report stated.

Protected buildings

Ceresana expects the construction segment to increase its demand for PU-based coatings by 2.6% per year. This market is decisively affected by residential, commercial and infrastructure construction. PU-based coatings are also utilised for particular products, e.g. façade elements, doors, window profiles and gutters, besides protection of buildings and bridges.

Coatings for industry

Demand for PU-based coatings in the industrial sector amounted to about 325-kt in 2017. Protection coatings for industrial facilities and machines account for the major share within this application area: aggressive conditions prevail during oil production, petrochemical processing and energy generation, in particular.

Commonly, a long durability of the paints and coatings is desirable to prolong service intervals. The group of other applications is the smallest segment: this category comprises all special applications of paints and coatings, e.g. the use for electrical & electronic devices, packaging, sports equipment, toys, medical products, and textiles.