Market Trends

Polyurethane Coating Market Overview : In 2017, cumulative grid-connected wind capacity had reached 515 GW from which 497 GW onshore and 18 GW offshore wind energy, according to the International Energy Agency. Furthermore, the organization estimates that the demand for energy will escalate by 65% globally between 2018 and 2023. [1]  Evidently, this augmented demand will lead to definite production growth of wind turbines that are coated with polyurethane coatings as they impart longevity and better wind energy efficiency. The demand influx in the wind energy sector and the subsequent growth in the manufacturing of wind turbines is poised to drive the polyurethane coating market that is valued at $16 billion as of 2018. Furthermore, the demand in the global polyurethane coating market from various sectors is projected to observe a healthy compound annual growth rate (CAGR) during the forecast period of 2019 to 2025. Automotive industry and building & construction are major industr