Construction industry driving demand for Polyurethane Coatings

 

Polyurethane is a polymer composed of organic units and combined by carbamate links. In Polyurethane coatings, layers of polyurethane are applied to a material's surface to protect it from corrosion, weathering, abrasion and other processes that would degrade the material over time. The coatings can be not only firm and durable but also soft and ductile. Furthermore, polyurethane coatings are non-flammable and can be used in combustible environments. 

Polyurethane coatings are used in various industries due to their desirable properties such as high durability, stiffness and high gloss. In the construction industry, coatings are used as sealants, foams, and adhesives in buildings while in the furniture and interiors industry, they are used for protecting home and office furnishing from dirt, tears, temperature fluctuations and other physical damage. In the packaging industry, coatings are used for their chemical, water, and abrasion resistance properties. These properties give the polyurethane coatings’ packaging a protective shielding. 

                                                                                                          Figure 1: Global Polyurethane Coatings Consumption, By Application, 2018 (%)

 

                                                                                                       

                                                                                                                                                Source: IndustryARC

In 2018, polyurethane coatings were mostly utilized in the construction industry and furniture and interiors industry. The growing demand for polyurethane coatings from the construction industry is mostly driven by increasing construction activities in emerging markets such as India, and recovery of the U.S.’ real estate market. Furthermore, growing demand for smart furnishings has also supported the growing consumption of polyurethane coatings in the furniture and interiors industry.

In terms of region, APAC held the largest share in the polyurethane coatings market while North America held the second largest share. The consumption of polyurethane coatings in APAC is mostly driven by the significant growth of automotive, electronics, furniture, and construction industries.

                                                                                                    Figure 2: Global Polyurethane Coatings Market, By Region, 2018 (%)

                                                                                                     

                                                                                                     Source: IndustryARC

However, the consumption of polyurethane coatings in APAC and Europe is expected to be impacted due to the growing trade war between the U.S. and China and the protectionist measures being taken by the U.S. government against European automakers.

Some of the major players in the polyurethane coatings industry include AkzoNobel NV, Sherwin-Williams Co., Axalta Coating Systems Ltd., Arkema SA, Huntsman Corporation, Bayer AG, Asian Paints Limited, Jotun A/S, Evonik Industries and BASF SE.