市場調查報告書
商品編碼
704720

全球聚氨酯(PU)塗料市場:成長,趨勢,及預測

Polyurethane (PU) Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

出版日期: | 出版商: Mordor Intelligence Pvt Ltd | 英文 120 Pages | 商品交期: 2-3個工作天內

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  • 全貌
  • 簡介
  • 目錄
簡介

本報告提供全球聚氨酯(PU)塗料市場的相關調查,提供市場機會和趨勢,成長及阻礙因素,價格分析,技術·終端用戶產業·各地區的市場分析,競爭情形,主要企業的簡介等資訊。

目錄

第1章 簡介

  • 調查的前提條件
  • 調查範圍

第2章 調查方法

第3章 摘要整理

第4章 市場動態

  • 成長要素
    • 木材塗料產業急速成長
    • 建設產業的需求增加
    • 其他
  • 阻礙因素
    • 汽車產業的衰退
    • 其他
  • 產業的價值鏈分析
  • 波特的五力分析
  • 價格分析

第5章 市場區隔

  • 各技術
    • 粉末
    • 溶劑系
    • 水性
    • 輻射固化
  • 各終端用戶產業
    • 汽車
    • 航太
    • 建設
    • 電器及電子
    • 工業
    • 家具
    • 其他
  • 各地區
    • 亞太地區
    • 北美
    • 歐洲
    • 南美
    • 中東·非洲

第6章 競爭情形

  • 合併·收購,合資企業,合作,契約
  • 市場佔有率分析
  • 主要企業的採用策略
  • 企業簡介
    • Akzo Nobel NV
    • Axalta Coating Systems
    • BASF SE
    • IVM Chemicals srl
    • Jotun
    • Polycoat Products
    • PPG Industries, Inc.
    • RPM International Inc.
    • The Sherwin-Williams Company

第7章 市場機會及今後趨勢

  • 水性PU塗料的轉變
  • PU塗料上聚乳酸多元醇的使用
目錄
Product Code: 62069

The polyurethane (PU) coatings market was estimated at over USD 18 billion in 2020, and the market is expected to register a CAGR of over 5% during the forecast period (2021-2026).

The market was negatively impacted due to COVID-19 in 2020. Owing to the pandemic scenario, several countries around the world went into lockdown, which halted all the manufacturing and construction activities, thus creating a negative impact on the demand for polyurethane coatings. However, the condition is expected to recover in 2021, thereby restoring the growth trajectory of the market studied.

Key Highlights

  • Over the short term, the burgeoning wood coatings industry and growing demand from the transportation industry are driving the market's growth.
  • On the flip side, the declining automotive industry and the negative impact of the COVID-19 pandemic are likely to hinder the market's growth.
  • In addition, the shift to water-borne PU coatings and the development of lignin-based polyurethanes are expected to provide opportunities for polyurethane coatings over the forecast period.
  • Asia-Pacific holds the major share in the consumption of polyurethane coatings. The region is also expected to witness the fastest growth during the forecast period.

Key Market Trends

Automotive Industry to Dominate the Market

  • The automotive industry is the largest consumer of polyurethane coatings across the world. The majority of the primers used in automotive coatings utilize a cathodic electric deposit process which constitutes almost 90% cathode electrophoretic paint. Polyurethane electrophoretic paint plays an excellent role in the process.
  • PU coatings are used for both OEM and refinish applications. Epoxy polyamide polyurethane and acrylic polyurethane coats are the commonly preferred coatings in the industry.
  • Epoxy polyamide polyurethane coatings are widely used for cars, whereas acrylic polyurethane coats can be widely used for all types of automobiles, such as buses, cars, and trucks.
  • Despite an encouraging term of growth in the automotive sector during the past decade, the momentum slowed down in recent years. The sales and production of new vehicles are going down in various parts of the world, including Europe, Asia-Pacific, and the United States. This affected the previously growing automotive production in most nations. Business models, the markets, and the competitive landscape are undergoing changes.​​ This is slowing the demand for polyurethane coatings.
  • According to the OICA data, global automotive production declined by around 5% and reached 91.78 million in 2019. ​The car sales declined by more than 3 million in 2019. In the first six months of 2020, automobile production witnessed a huge downfall across the globe owing to the impact of COVID-19. According to the OICA, in 2020, the global automotive production in the first quarter was about 17,860 thousand units, in the second quarter was 31,133 thousand units and in the third quarter was 52,009 thousand units, declining about 23.1%, 32.4%, and 22.9% respectively, from the previous year at the same time.
  • The car sales for the first ten months of 2020 in major global car markets of Europe, the United States, Japan, Brazil, India, and China were down by 27.3%, 17%, 14.7%, 30.9%, 24.6%, 10%, respectively in comparison to the previous year.
  • Asia, which is the largest automotive manufacturing hub, witnessed a decline of 6.4% in 2019. The major countries, like China, Japan, India, South Korea, Thailand, and Indonesia, registered negative growth in production. This was majorly due to factors like the decline in domestic demand, increasing labor costs, and implementation of new vehicle norms (BS Stage 6 vehicles in India).
  • However, with growing concerns related to environmental pollution from petrol and diesel-based vehicles, the production of electric vehicles is expected to pick up pace over the next five years. This is likely to drive the demand for polyurethane coatings over the forecast period.
  • According to the IEA, in 2030, global electric vehicle sales are expected to reach 125 million as per the New Policies Scenario (excluding two/three-wheelers). In the EV30@30 Scenario, in 2030, around 70% of the vehicle sales in China are expected to be EVs. Also, half of the vehicles sold in Europe are EVs, 37% in Japan, 30% in Canada and the United States, and 29% in India.
  • Hence such growing demand for electric vehicles in recent years and the upcoming consumer shift to electric vehicles is likely to create an opportunity for the polyurethane coatings market during the forecast period.
  • All the aforementioned factors are expected to affect the usage of polyurethane coatings in automotive applications.

China to Dominate the Market in the Asia-Pacific Region

  • In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. China's economic growth rate in 2020 was initially expected to be moderate compared to the previous year. However, due to the onset of COVID-19 in 2020, China's economic growth is estimated to contract to 1.90% and is expected to witness recovery at a rate of 8.20% in 2021.
  • With growing investments and construction activities in the country, the demand for polyurethane coatings is projected to grow during the forecast period. According to the National Bureau of Statistics of China, the revenue generated by the Chinese construction industry has increased from CNY 17.67 trillion in 2014 to CNY 24.84 trillion in 2019.​
  • Rising household income levels, combined with population migrating from rural to urban areas, are expected to continue to drive demand for the residential construction sector in the country. ​Increased focus on affordable housing by both the public and private sectors is also driving the growth in the residential construction sector.
  • The country is investing USD 1.43 trillion in the next five years till 2025 in major construction projects. According to National Development and Reform Commission (NDRC), the Shanghai plan includes the investment of USD 38.7 billion in the next three years, whereas Guangzhou has signed 16 new infrastructure projects with an investment of USD 8.09 billion.
  • The Chinese automotive manufacturing industry is the largest in the world, with a production share of just over 28% in 2019. The industry witnessed a slowdown in 2018, wherein the production and sales declined. A similar trend continued in 2019, with the production declined to 25.7 million vehicles by dropped by about 7.5% year-on-year.
  • The number of passenger cars produced in November 2020 is about 2.33 million, which registered a staggering 11.8% month-on-month growth, while 518 thousand commercial vehicles were produced in November with a 10.6% M-o-M growth. The number of passenger cars produced from January to November is down by 8.1% year-on-year compared to the same period last year, while commercial vehicle production increased by 22.2%. The uncertainties in the automobile industry are expected to impact the market studied.
  • The Chinese aerospace policy represents one of the most comprehensive attempts to enter the top levels of aerospace development and production. China is expected to be the world's largest single-country market for civil aircraft sales over the next 20 years. Under the plan 'Made in China 2025', it is expected that China is likely to supply over 10% home-made commercial aircraft to the domestic market by 2025. This is expected to provide opportunities for the polyurethane coatings market in the aerospace sector during the forecast period.
  • China has the world's largest electronics production base. Electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems, and other personal electronic devices recorded the highest growth in the electronics segment. The country serves not only domestic demand for electronics but also exports electronic output to other countries. In China, with the increase in the disposable income of the middle-class population and the rising demand for electronic products, countries importing electronic products from China, the production of electronics is projected to grow, thereby benefitting the market studied.
  • All the aforementioned factors, in turn, are projected to increase the demand for polyurethane coatings in the region during the forecast period.

Competitive Landscape

The polyurethane coatings market is a consolidated market, as there are very few players who are able to control major market share. Key players in the market include Akzo Nobel NV, Jotun, Axalta Coating Systems, PPG Industries Inc., and The Sherwin-Williams Company, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Burgeoning Wood Coatings Industry
    • 4.1.2 Growing Demand from the Transportation Industry
  • 4.2 Restraints
    • 4.2.1 Declining Automotive Industry
    • 4.2.2 Negative Impact of the COVID-19 Pandemic
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5 MARKET SEGMENTATION

  • 5.1 Technology
    • 5.1.1 Powder
    • 5.1.2 Solvent-borne
    • 5.1.3 Water-borne
    • 5.1.4 Radiation Cured
  • 5.2 End-user Industry
    • 5.2.1 Automotive
    • 5.2.2 Transportation
    • 5.2.3 Construction
    • 5.2.4 Electrical and Electronics
    • 5.2.5 Wood and Furniture
    • 5.2.6 Others End-user Industries
  • 5.3 Geography
    • 5.3.1 Asia-Pacific
      • 5.3.1.1 China
      • 5.3.1.2 India
      • 5.3.1.3 Japan
      • 5.3.1.4 South Korea
      • 5.3.1.5 Rest of Asia-Pacific
    • 5.3.2 North America
      • 5.3.2.1 United States
      • 5.3.2.2 Canada
      • 5.3.2.3 Mexico
    • 5.3.3 Europe
      • 5.3.3.1 Germany
      • 5.3.3.2 United Kingdom
      • 5.3.3.3 Italy
      • 5.3.3.4 France
      • 5.3.3.5 Rest of Europe
    • 5.3.4 South America
      • 5.3.4.1 Brazil
      • 5.3.4.2 Argentina
      • 5.3.4.3 Rest of South America
    • 5.3.5 Middle-East and Africa
      • 5.3.5.1 Saudi Arabia
      • 5.3.5.2 South Africa
      • 5.3.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Akzo Nobel NV
    • 6.4.2 Axalta Coating Systems
    • 6.4.3 BASF SE
    • 6.4.4 IVM Chemicals SRL
    • 6.4.5 Jotun
    • 6.4.6 Polycoat Products
    • 6.4.7 PPG Industries Inc.
    • 6.4.8 RPM International Inc.
    • 6.4.9 The Sherwin-Williams Company

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Shift to Water-borne PU coatings
  • 7.2 Development of Lignin-based Polyurethanes