The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The soft-touch polyurethane coatings market has witnessed robust growth in recent years, driven by factors such as consumer demand for premium finishes, advancements in consumer electronics design, and a favorable regulatory landscape. With a promising trajectory ahead, the market is poised for further expansion, offering lucrative opportunities for stakeholders.

Current Market Dynamics

• The soft-touch polyurethane coatings market surged from $9.98 billion in 2023 to $10.81 billion in 2024, boasting a notable compound annual growth rate (CAGR) of 8.2%.
• Growth in the historic period was fueled by consumer sensitivity to texture, anti-scratch and wear resistance properties, and aesthetic enhancements in packaging.
• Major players in the market include The Sherwin Williams Company, Akzo Nobel NV, PPG Industries Inc., and others.

Future Projections: Anticipating Strong Growth

• Forecasts suggest that the soft-touch polyurethane coatings market will continue its upward trajectory, reaching $14.69 billion by 2028, with a CAGR of 8.0%.
• Key drivers for this growth include expansion in the automotive industry, increased usage in electronics, sustainable formulations, and growth in luxury packaging.
• Asia-Pacific emerged as the largest region in the soft-touch polyurethane coatings market in 2023.

View More On The Soft Touch Polyurethane Coatings Market Report 2024 – https://www.thebusinessresearchcompany.com/report/soft-touch-polyurethane-coatings-global-market-report

Automotive Industry Expansion Fuels Market Growth

• The expansion of the automotive industry is a significant catalyst for the growth of the soft-touch polyurethane coatings market.
• Rapid urbanization and global automakers’ expansion into emerging markets contribute to industry growth.
• Strong government support further accelerates the growth of the automotive sector, fostering innovation and development.
• Major automotive industry players include The Sherwin Williams Company, Akzo Nobel NV, PPG Industries Inc., and others.

Advancements Transforming the Market Landscape

• Technological innovations play a pivotal role in shaping the soft-touch polyurethane coatings market.
• Companies are focusing on developing advanced solutions such as waterborne polyurethane coatings and anti-yellowing formulations to meet evolving consumer needs.
• For instance, Allnex introduced DAOTAN 7061/35WA, a polyurethane dispersion catering to automotive OEM and vehicle refinish coating markets, boasting high performance and versatility.
• Strategic acquisitions, like PPG Industries’ acquisition of Tikkurila, bolster global presence and drive future growth.

Market Segmentation: A Comprehensive Overview

The soft-touch polyurethane coatings market is segmented based on various parameters:

1. Base Type: Water-based, Solvent-based
2. Product Type: 2K, UV
3. End-Use: Automotive, Aerospace, Electrical and Electronic, Furniture, Packaging, Other End-users

Conclusion

The soft-touch polyurethane coatings market presents significant growth opportunities, propelled by technological advancements, expansion in key industries, and strategic collaborations. As consumer preferences continue to evolve and sustainability gains prominence, the market is poised for further innovation and development, offering a promising landscape for investors and stakeholders alike.

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The Soft Touch Polyurethane Coatings Global Market Report 2024  provides comprehensive insights on the soft touch polyurethane coatings market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the soft touch polyurethane coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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