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| Soft Touch Polyurethane Coatings Market |
The global Soft Touch Polyurethane Coatings Market is estimated to be valued at US$ 7.71 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 Overview:
Soft touch polyurethane coatings provide excellent abrasion and chemical
resistance to substrates such as plastics, metals and composites. These
coatings impart a velvety soft feel and luxurious appearance to finished
products. They are used to coat electronics, automotive interior and exterior
parts and medical devices among others.
Market key trends:
One of the key trends in the soft touch polyurethane coatings market is the
rising usage of these coatings in consumer electronics products. The
exponential growth of smart devices, wearables and other portable electronics
has increased the demand for aesthetic and functional coatings that provide
protection from scratches and impact damage while imparting a premium touch and
feel. Soft touch polyurethane coatings meet these requirements and their use
allows electronics manufacturers to design elegant devices with distinguished
textures and appearances.
Segment Analysis
The global soft touch polyurethane coatings market is segmented on the basis of
application, technology and geography. By application, the furniture segment
dominates the market and is expected to witness high growth over the forecast
period. Soft touch polyurethane coatings offer a smooth matte finish and
protection from scratches on furniture, thereby making it highly suitable for
this application.
Key Takeaways
The global Soft
Touch Polyurethane Coatings Market Share is expected to witness high
growth, exhibiting CAGR of 8.9% over
the forecast period, due to increasing demand from the furniture industry.
Regional analysis
Regionally, Asia Pacific dominates the global soft touch polyurethane coatings
market and is expected to grow at the fastest rate owing to high production and
consumption of furniture in China and India. Europe and North America are other
major markets for soft touch polyurethane coatings.
Key players
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. Sherwin Williams Company and AkzoNobel N.V. are the
largest players in the global market.
The global soft touch polyurethane coatings market size was valued at US$ 7.71
Bn in 2023 and is expected to reach US$ 13.31 Bn by 2030, expanding at a CAGR
of 8.9% during the forecast period.
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