Polyurethane resins offers high performance properties like abrasion resistance, flexibility, durability and chemical resistance which makes it a suitable choice for uses in construction applications such as floor coatings, sealants, adhesives, and waterproofing membranes. They provide insulation and energy efficiency in buildings. They are used in interior and exterior applications such as wall panels, doors, windows and green roofs. With rapid urbanization and infrastructure development globally, the demand for polyurethane resins based paints and coatings from construction industry has increased manifolds.

The global Polyurethane Resins Paints And Coatings Market is estimated to be valued at Us$ 35,306.54 Mn in 2023 and is expected to exhibit a CAGR Of 4.5% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Waterborne Polyurethane Paints and Coatings Gaining Traction in Emerging Economies
With stringent environmental regulations around the world restricting the use of volatile organic compound (VOC) emitting solvents, the demand for eco-friendly and sustainable waterborne polyurethane paints and coatings is increasing in emerging economies such as Asia Pacific and Latin America. Waterborne polyurethane offers performance comparable to solvent-borne polyurethane along with low VOC content. Major paints and coatings manufacturers are focusing on developing advanced waterborne polyurethane technology to tap into the future growth opportunities in construction, automotive refinish and industrial wood & furniture markets of developing nations.

Porter’s Analysis

Threat of new entrants: The polyurethane resins paints and coatings market is dominated by large players. High initial investments required due to economies of scale make the barriers to entry high for new players.

Bargaining power of buyers: The presence of substitutes limits the bargaining power of buyers. Buyers have moderate bargaining power due to standardized products differentiated based on quality and service.

Bargaining power of suppliers: Raw material suppliers have moderate bargaining power due to availability of substitutes and less differentiation in products.

Threat of new substitutes: Substitutes like epoxy, acrylic, and vinyl ester resins pose threats, but polyurethane resins provide better properties, making threats moderate.
Competitive rivalry: The market is competitive with top players differentiating based on technology, quality, and brand image.

Key Takeaways

The Global Polyurethane Resins Paints And Coatings Market Size is expected to witness high growth. The market size for 2023 is estimated to be US$ 35,306.54 Mn. Growing construction industry globally is expected to drive the demand.

Regional analysis –

Asia Pacific region held the largest share in 2023 owing to high industrial and construction activity in China and India. The region is also expected to witness the fastest growth during the forecast period supported by increasing investments in infrastructure development.

Key players operating in the polyurethane resins paints and coatings market are The Dow Chemical Company, BASF SE, Covestro A.G., Huntsman Corp., Eastman Chemical Co., Mitsui Chemicals Inc, Recticel S.A., RTP Company Inc., Lubrizol Corp., Rampf Holding GmbH & Co. KG. The key players are focusing on new product launches, expanding production capacities and partnerships for sustained growth in the market.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it