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PU coating is one of the basic types of coating which has witnessed a significant growth in the past few years and this growth is expected to continue in the coming years. polyurethane coating is mainly made available on the basis of technology: solvent-borne PU coating, water-borne PU coating, high solids PU coating, and PU powder coating. Major end industries served by polyurethane coating are automotive & transportation, wood & furniture, industrial, construction, textile, and electrical & electronics.
The demand for PU coating is majorly driven by factors such as; continuous enlarging automotive and shipbuilding industry and increasing trend of water-borne polyurethane coating to make it exploitable for various other applications. Further technological innovations are expected to increase the market penetration of PU coating and make it suitable for numerous other applications. The effectiveness of polyurethane coating in traditional end industries has always been a promising factor for its growth over a long run.
Asia-Pacific is currently the largest consumer of PU coating, which consumed nearly half of the total PU coating consumption in 2012 and is expected to grow at a CAGR of 8.0%. China is the leading consumers of polyurethane coating, holding a major share in regional volumetric consumption in 2012. The polyurethane coating market for ROW is comparatively low, but is anticipated to show the highest growth rate from 2013 to 2018.
Automotive & transportation industry with a CAGR of 6.5% is the biggest end industry consuming PU coating owing to the distinguishing properties of the material where as the fastest growing consumer of polyurethane coating is the construction and electrical & electronics industry. AkzoNobel N.V. (The Netherlands), PPG Industries (U.S.), Sherwin Williams (U.S.), Axalta Coating Systems (U.S.), and BASF SE (Germany) are major manufacturers of PU coating.