The growth of the segment is attributed to its ability to provide a durable and protective barrier against corrosion, abrasion, and weathering, as well as its ability to add color, gloss, or other aesthetic qualities to a surface. In addition, the industrial coatings, marine & offshore, automotive & transportation, and infrastructure sectors use polyurethane coating.īy process, the liquid coating segment held the highest market share in 2021, accounting for more than one-fourth of the global polymer coatings market revenue and is estimated to maintain its leadership status throughout the forecast period. This qualifies them for use on moving or vibrating substrates like bridges, pipelines, and aircraft. Due to their high flexibility and elasticity, polyurethane coatings can expand and contract along with the underlying substrate. Simultaneously, the same segment would also showcase the fastest CAGR of 6.8% during the forecast period. However, the surge in the demand for polymer coating in construction and industrial equipment is expected to create lucrative opportunities in the industry.īy type, the polyurethane segment held the largest share in 2021, garnering more than one-fourth of the global polymer coatings market revenue, and is projected to maintain its dominance by 2031. On the other hand, the environmental impact of polymer coatings and their high production costs restrain the market growth to some extent. The rise in industrialization and infrastructure development in emerging economies such as China and India, the increase in government initiatives to promote the development and adoption of polymer coating technologies, and the rise in the demand for energy-efficient buildings drive the growth of the global polymer coatings market. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
OREGON, PORTLAND, USA, / / - According to the report, the global polymer coatings market size was $8.9 billion in 2021 and is anticipated to generate $16.2 billion by 2031, witnessing a CAGR of 6.2% from 2022 to 2031.
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