The Polyurethane Coatings Market is expected to reach USD 445.8 Million by 2026, according to a new report by Reports and Data. The Polyurethane Coatings Market is anticipated to show robust growth during the forecast period. The key factors driving the market are the increasing demand from user types, such as OEMs and MROs for various military aircraft, such as rotary-wing and fixed-wing, which tends to stimulate the market globally.
Notable developments have been accomplished in the security of both civil and military aircrafts which are based on the performance of coatings used in the corrosion stability of military and civilian aircraft. Research into aircraft paints, for instance, has developed in coatings with protecting treatments to different components. Latest methods of paint stripping and novel methods for the repair of pre-treatments and metal coatings are being produced, which will drive the reductions in the cost of corrosion maintenance and enhanced levels of protection.
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Top Companies: PPG Industries, Inc., Evonik Industries AG, The Sherwin-Williams Company, AkzoNobel N.V, Hentzen Coatings, Inc, Creative Coatings Co., Inc., Hentzen Coatings, Inc., Kansai Paint Co., Ltd., Humiseal, Argosy International Inc., BryCoat Inc., KGaA, Mankiewicz Gebr. Co., Henkel AG Company, BASF SE
Further key findings from the report suggest:
- These coating materials protects the surface from excessive ultraviolet (UV) contact at higher altitudes and decreases fluctuation of corrosion and temperature. This coating is used in several parts of aircrafts such as wing frame, fuselage frame, and tail frame.
- The Polyurethane Coatings Market is estimated to reach USD 445.8 Million by 2026, at a CAGR of 4.4% during the forecast period.
- The polyurethane (PU) accounts for the largest share of 52.8% of the market in 2018.
- The powder technology is anticipated to grow at a higher rate of 4.7% during the forecast period.
- The Original Equipment Manufacturer (OEM) end user accounts for a larger share of 57.3% of the market in 2018.
- The European market accounted for the market share of 22.2% of the market in 2018 and is expected to provide lucrative growth towards the global market, due to the presence of prominent automotive, and aerospace defense equipment manufacturers.
- Various players are developing strategies to mark their presence in the industry.
- Air Force Research Laboratory (AFRL) has taken important initiatives since the past few years, to investigate the boundaries of using UV-cure coatings for aerospace applications.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Polyurethane Coatings market is segmented into:
Aircraft Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Fixed-wing Aircraft
- Rotary wing Aircraft
Resin Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Polyurethane (PU)
End User Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Original Equipment Manufacturer (OEM)
- Maintenance Repair Overhaul (MRO)
Technology Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Liquid-based Technology
- Powder-based Technology
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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