Polyurethane Coating Market Report and Forecast 2025-2034

The global polyurethane coating market stood at a value of more than USD 19.36 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 5.50% to reach over USD 33.07 Billion by 2034.

Water-Borne Type to Hold a Significant Share of the Global Polyurethane Coating Industry

The desirable properties of water-borne polyurethane coatings such as its surface hardness, high performance in low temperature, and user-friendliness, among others are propelling the demand for the product in various end use industries. In addition to this, the rising application of water-borne polyurethane coatings on substrates sensitive to solvents is anticipated to bolster the market growth in the forecast period.

The Asia Pacific Accounts for a Significant Share in the Polyurethane Coating Industry

The polyurethane coating industry in the Asia Pacific is driven by the rising investments in protective coatings and the increasing construction activities in the region owing to the rapid urbanisation and rising standards of living. The significant increase in indigenous manufacturing in countries like India and China has further propelled the market. Furthermore, a strong presence of several manufacturers in the region is anticipated to offer lucrative opportunities to the market in the forecast period.

Polyurethane Coating: Market Segmentation

Polyurethane coating is defined as a polymer that contains a chain of organic units and is applied on the surface of a substrate for the purpose of protecting it. Polyurethane coating helps a substrate from corrosion, weathering, abrasion, and other deteriorating processes. Moreover, polyurethane coatings have a high-tensile strength, modulus, percent elongation, and shore hardness.

Based on type, the market can be segmented into:

• Solvent-Borne
• Water-Borne
• High Solids
• PU Powder Coating
• Others

The segmentation of the market based on end user industry is as follows:

• Automotive and Transportation
• Aerospace
• Wood and Furniture
• Construction
• Textile and Apparels
• Electrical and Electronics
• Others

The regional markets for the product include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Rising Application of Polyurethane Coating in the Automotive Sector to Boost the Growth of the Polyurethane Coating Industry

The rising application of polyurethane coating in the automotive and transportation industry is driving the market growth. Polyurethane coatings are widely utilised as an automobile primer, intermediate coat, and finishing paint in the automobile industry. In addition to this, the rapid industrialisation and urbanisation is further augmenting the growth of the market. Moreover, the increasing sales of commercial and passenger cars in emerging economies are likely to provide a further impetus to the market growth in the forecast period.

Key Industry Players in the Global Polyurethane Coating Market

The report gives a detailed analysis of the following key players in the global polyurethane coating market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Akzo Nobel N.V.
• BASF SE
• Sherwin-Williams Company
• PPG Industries, Inc.
• Axalta Coating Systems, LLC
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.