The Soft Touch Polyurethane Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Soft Touch Polyurethane Coatings Global Market Report 2024, The soft touch polyurethane coatings market size has grown strongly in recent years. It will grow from $9.98 billion in 2023 to $10.81 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to consumer demand for premium finishes, consumer electronics design, consumer sensitivity to texture, anti-scratch and wear resistance, aesthetic enhancement in packaging, favorable regulatory landscape.
The soft touch polyurethane coatings market size is expected to see strong growth in the next few years. It will grow to $14.69 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to growing automotive industry, increased use in electronics, sustainable formulations, growth in luxury packaging, expansion in building and construction, demand in aerospace interiors. Major trends in the forecast period include advancements in uv-curable soft touch coatings, focus on scratch and abrasion resistance, technological innovations in application methods, compliance with regulatory standards, collaborations and partnerships, r&d investments for enhanced properties.
The expansion of the automotive industry is expected to propel the growth of the soft-touch polyurethane coatings market. Rapid urbanization and global automakers’ expansion into emerging markets drive industry growth. The development has been fueled by strong government support, allowing it to carve a distinct path among manufacturing sectors. Such support and expansion of the automotive industry compel the soft-touch polyurethane coatings market to develop better products to provide greater customer service. For instance, according to a February 2022 automobile industry report by India Brand Equity Foundation, the Indian government expects the automobile sector to attract US$ 8-10 billion in domestic and foreign investment by 2023. Furthermore, the automobile industry received approximately US$ 30.78 billion in cumulative equity FDI inflows between April 2000 and September 2021. Therefore, the rise in the automotive industry will drive the growth of the soft-touch polyurethane coatings market.
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The soft touch polyurethane coatings market covered in this report is segmented –
1) By Base Type: Water-based, Solvent-based
2) By Product Type: 2K, UV
3) By End-Use: Automotive, Aerospace, Electrical and Electronic, Furniture, Packaging, Other End-users
Technological innovations are a key trend in the soft-touch polyurethane coatings market. Companies operating in the soft-touch polyurethane coatings market have developed various technological innovations such as waterborne polyurethane solutions, emulsion-free coatings, anti-yellowing coatings, and others to sustain their position in the market and provide better services to their customers. For instance, in January 2021, Allnex, a German manufacturer of coating resins, announced the launch of their polyurethane dispersion, especially for the automotive OEM and vehicle refinish coating markets, named the DAOTAN 7061/35WA. This polyurethane dispersion is emulsifier-free, has a high molecular weight, and is a urethane-acrylic-hybrid aqueous dispersion with excellent stability. DAOTAN 7061/35WA provides high performance and is versatile, giving transparent, crack-free surfaces.
The soft touch polyurethane coatings market report table of contents includes:
1. Executive Summary
2. Soft Touch Polyurethane Coatings Market Characteristics
3. Soft Touch Polyurethane Coatings Market Trends And Strategies
4. Soft Touch Polyurethane Coatings Market – Macro Economic Scenario
5. Global Soft Touch Polyurethane Coatings Market Size and Growth
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31. Global Soft Touch Polyurethane Coatings Market Competitive Benchmarking
32. Global Soft Touch Polyurethane Coatings Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Soft Touch Polyurethane Coatings Market
34. Soft Touch Polyurethane Coatings Market Future Outlook and Potential Analysis
35. Appendix
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