Due to the growing use of polyurethane resins paints and coatings in a variety of sectors, the size of the global market for these products is anticipated to rise significantly during the forecast period. For the purpose of shielding the wooden surface, polyurethane resin paint is widely employed in the furniture sector. Longevity is increased and the surface is shielded from deterioration. It is anticipated that a growing global population and rising disposable income will enhance demand for furniture and promote the market's expansion. Applications for polyurethane resin coating can be found in both heavy-duty interiors and exteriors where paint durability is important. Polyurethane reins coatings are necessary for steel tanks, chemical processing machinery, offshore structures, oil rigs, cleaning rooms, handrails, etc. This is likely to increase demand for the material and, in turn, spur market expansion. Additionally, during the anticipated period, the market expansion is anticipated to be fueled by the expanding use of polyurethane resins in paints and coatings for the maritime industry. Marine structures experience severe wear and tear due to their continual exposure to salt water.
According to Coherent Market Insights, in 2022, the market for paints and coatings containing polyurethane resins was estimated at US$ 33786.16 million, with a CAGR of 4.5% predicted for the following five years.
Top Companies in the Polyurethane Resins Paints And Coatings Industry:
1. BASF
The business was established in 1865, and its head office is in Ludwigshafen, Germany. The corporation's six business segments are polymers, plastics, performance goods, useful solutions, agricultural solutions, and petroleum and natural gas. The expansion of BASF's polymer dispersions production facility in Daya Bay, China, was announced in March 2023. Through R&D innovation and a commitment to a sustainable lifestyle, BASF produced healthy beauty in February 2023.
2. Arkema SA
The company was founded in 2004 and is based in Colombes, France. The company Arkema SA produces and sells a variety of chemicals. Permoseal is a South African provider of adhesive solutions that the firm declared it would acquire in 2022. In 2021, the company paid $1.65 billion to acquire Ashland's Performance Adhesives division.
3. DSM
DSM was founded in 1902, and its Netherlands headquarters are in Heelen. The company works in the food, healthcare, and materials industries. The company sells biomedical chemicals, specialty food items, engineered polymers, Dyneema, clothing, and solar energy technology, among other things. In May 2022, DSM made the decision to sell its Engineering Materials division. On October 19, 2021, DSM fully acquires First Choice Ingredients.
4. Sherwin Williams
Sherwin-Williams is a business that was established in 1866, and it is based in Cleveland, Ohio. To professional, commercial, industrial, and commercial customers, the company primarily manufactures, distributes, and sells floor coverings, paints, varnishes, and related products. In April 2022, the business announced that it had successfully acquired the European Industrial Paints Division of Sika AG. An agreement was made in June 2022 to buy Gross & Perthun GmbH, which primarily produces and sells coatings for heavy machinery and the automotive industry.
5. Henkel
The company was started in 1876 and is based in Düsseldorf, Germany. The business sells roofing materials, reactive polyurethane and laminating adhesives, labelling for PET and glass bottles, corrosion inhibitors and surface treatments, soaps, skin care items, hair dye, perfumes, detergents, washing soaps, glass cleaners, wallpaper adhesives, and other everyday items.
*Definition: By reacting organic diisocyanate and polyalcohol, polyurethane resins are created. The majority of its applications are in a variety of industries, such as furniture, surface coatings, footwear, and packaging.
