Soft Touch Polyurethane Coatings Are Fueling Growth Of The Soft Touch Polyurethane Coatings Market

 

Market Overview:
Soft Touch Polyurethane Coatings provide surfaces with excellent protection against abrasion, scratches and impact damage while imparting a soft feel and matte finish. They are ideal for application on consumer electronics, automotive exteriors and interiors.

The global Soft Touch Polyurethane Coatings Market is estimated to be valued at US$ 7.08 Bn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the Soft Touch Polyurethane Coatings Market is the development of bio-based and eco-friendly polyurethane coatings. With growing environment awareness among consumers, manufacturers are focusing on using renewable resources such as plant oils, carbohydrates and proteins in place of petroleum-based raw materials to manufacture polyurethane coatings. These bio-polyurethane coatings not only provide the soft touch and durability properties, but also have lower volatile organic compound emissions and carbon footprint.
Here are the details:

Segment Analysis
The soft touch polyurethane coatings market is segmented into type and application. By type, the soft-feel coatings segment accounted for the largest market share in 2022 owing to its wide usage in automotive interiors, consumer electronics, and furniture for providing a premium look and tactile experience. By application, the furniture segment dominated the market owing to increasing demand for soft touch furniture across households and commercial spaces for providing a comfortable texture.

Key Takeaways
The global soft touch polyurethane coatings market is expected to witness high growth, exhibiting a CAGR of 8.9% over the forecast period, due to increasing demand from the automotive and consumer electronics industries.

By region, Asia Pacific dominated the global market in 2022 and is expected to maintain its lead over the forecast period due to rapid growth of end-use industries in the region. China, Japan, and India accounted for over 40% of the global demand in 2022.

The global soft touch polyurethane coatings market size was valued at US$ 7.08 Bn in 2023. The market is projected to reach a value of US$ 13.45 Bn by 2030, increasing at a CAGR of 8.9% during the forecast period. The growth can be attributed to increasing demand for premium furniture, automotive interiors, consumer electronics, and medical devices which require soft tactile surfaces.

Key players operating in the soft touch polyurethane coatings market are Sherwin Williams Company, Akzo Nobel N.V., PPG Industries Ltd Axalta Coatings Systems, Rust-Oleum - RPM International Inc., Aexcel Coatings., Sokan New Materials, and Jotun AS. The players are focused on R&D to develop innovative product offerings and adopting organic and inorganic growth strategies like mergers & acquisitions to gain a competitive advantage in the market.

Comments

Post a Comment

Popular posts from this blog

Blowing Agents in Action: Enhancing Sustainability and Performance in Modern Engineering

Image
  Blowing Agents: Unleashing the Power of Expansion in Materials Blowing agents are a remarkable class of chemical compounds that play a pivotal role in various industries, revolutionizing the way materials are manufactured and utilized. These agents are essential additives employed to induce controlled expansion in materials, leading to the creation of diverse products with unique properties and applications. From lightweight foams in packaging to insulating materials and beyond, blowing agents have become indispensable in modern manufacturing processes. 1. Understanding Blowing Agents: Blowing agents are substances designed to generate gas when subjected to specific conditions, such as heat, pressure, or chemical reactions. The produced gas forms bubbles within the material matrix, resulting in a cellular structure with reduced density. This cellular structure not only imparts lightness to the material but also enhances its thermal and acoustic insulation properties. 2. Versatil...
Read more

Multi-Depth Corrugated Box Market Trends 2023 - Industry Insights, Competition Analysis, Growth Rate and Forecast by 2030

Image
  A multi-depth corrugated box is a type of shipping or storage box that has the ability to be adjusted to different depths, allowing for greater flexibility and efficiency in packaging and shipping. This type of box is made of corrugated cardboard, which consists of a fluted layer sandwiched between two flat layers. Multi-depth corrugated boxes are typically made with a series of perforations or scores that allow the box to be easily adjusted to different depths. For example, a box with a height of 10 inches might have perforations at 2-inch intervals, allowing it to be adjusted to a depth of 2 inches, 4 inches, 6 inches, 8 inches, or 10 inches, depending on the specific needs of the user. The advantages of using multi-depth corrugated boxes include reduced inventory costs, improved packing efficiency, and better use of storage space. By using a single box that can be adjusted to different depths, businesses can reduce the number of different box sizes they need to stock and simp...
Read more

Acid Pickling Roll Market Growth Accelerated by Adoption of Anti-Rust Acid Pickle Rolls

Image
  Acid pickle rolls help remove scale, rust or oxide films from metallic surfaces and accurately prepare them for subsequent processing such as coating or plating to improve corrosion resistance. The demand for acid pickling rolls have increased in various end-use industries such as automotive, oil & gas, marine, energy, and general engineering to enhance product durability. The global Acid Pickling Roll Market is estimated to be valued at US$ 1,167 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing adoption of anti-rust acid pickling rolls to increase product lifespan across various corrosion prone industrial applications has accelerated the growth of the acid pickling roll market. Acid pickling rolls equipped with advanced rust removal properties efficiently prepare metallic surfaces and ensure long term corrosion protection. Major mar...
Read more