Urethane Surface Coatings Market Size, Industry Outlook Report, Regional Analysis, Application Development, Price Trends, Competitive Market Share & Forecast, 2024 – 2032

Urethane Surface Coatings Market Size

Urethane Surface Coatings Market will register significant growth between 2024 and 2032 due to the surge in product launches. With industries prioritizing durability and aesthetics, manufacturers are introducing innovative urethane coatings to meet diverse application needs. 
 

For instance, in July 2022, Dunn-Edwards Corporation unveiled DECOGLO, an interior semi-gloss paint formulated specifically for cabinets, doors, and trim, designed to complement the DECOPRIME interior primer. DECOGLO is an ultra-premium semi-gloss urethane-modified acrylic paint that delivers remarkable hardness and a luxurious shine for enduring beauty. It ensured effortless application on properly prepared interior wood surfaces, including furniture. 
 

These coatings offer exceptional protection against abrasion, chemicals, and weathering, making them ideal for various surfaces in the automotive, construction, and industrial sectors. As companies expand their product portfolios to address evolving customer requirements, the demand for urethane surface coatings continues to rise, driving market growth.
 

Urethane surface coatings market is experiencing increased demand fueled by rising innovations from emerging companies. With a focus on enhancing performance and sustainability, these companies are introducing novel formulations and application techniques to meet evolving industry needs. Advanced urethane coatings offer superior durability, chemical resistance, and aesthetics, catering to diverse sectors such as automotive, aerospace, and construction. As emerging players continue to disrupt the market with innovative solutions, the demand for urethane surface coatings is propelled further, driving market growth and expansion. 
 

For instance, in January 2024, Carboline introduced Carbothane DTM Mastic, a one-coat solution designed for emergency maintenance or rapid coating projects. This urethane-based hybrid offers outstanding performance on minimally prepared steel surfaces, providing excellent corrosion protection. With its mastic properties, it ensures long-lasting color and gloss retention, surpassing competing epoxy mastic maintenance coatings in weathering resilience. 
 

Despite its growth, the urethane surface coatings market faces several constraints. One challenge is the environmental impact associated with some urethane formulations, leading to regulatory scrutiny and restrictions. Additionally, the high initial cost of urethane coatings compared to traditional options can deter budget-conscious consumers. Furthermore, the complexity of the application and potential health hazards from volatile organic compounds (VOCs) pose barriers to widespread adoption. Addressing these restraints through innovation and sustainable practices is crucial for the continued expansion of the market.
 

Urethane Surface Coatings Market Trends

Urethane surface coatings industry is witnessing significant trends driven by rising research and development efforts. Manufacturers are investing in innovative formulations and technologies to enhance product performance and sustainability. Advanced coatings with improved durability, chemical resistance, and environmental friendliness are gaining traction across various industries. Furthermore, ongoing research into application techniques and surface preparation methods is streamlining coating processes, increasing efficiency, and reducing application time. As research and development in urethane coatings continue to evolve, the market is poised for further growth and innovation.
 

To cite an instance, in June 2023, a recent investigation presented the synthesis, characterization, and coating capabilities of alkyd-urethane resins derived from castor oil. Castor oil (CO) and dehydrated castor oil (DCO) were utilized in a two-stage process to produce these new resins. Both types of cured films demonstrated similar properties in terms of hardness, adhesion, chemical resistance, and gloss. Gouge and scratch hardness were measured at 3H and 4H, respectively, while adhesion was deemed satisfactory. The films exhibited resilience against water, xylene, and sulfuric acid but showed vulnerability to sodium hydroxide and acetone. Notably, they boasted notably high gloss values attributed to the presence of urethane linkages.
 

Urethane Surface Coatings Market Analysis

The market size from the powder coating segment will register an appreciable CAGR through 2032. Urethane powder coatings are being extensively used in exterior coating applications, such as lighting fixtures, agricultural & construction equipment, stadium seating, site furnishing, garage doors, fencing & marine bodies, and automotive equipment. The product has many positive attributes, such as great exterior durability, smooth finish, and excellent chemical & corrosion resistance. Several companies are launching the latest versions of powder coatings for different industrial applications. For instance, in November 2022, PPG Industries introduced its latest range of powder coatings for the metal fabrication sector – the PPG Envirocron Extreme Protection Edge, Envirocron HTE, and Envirocron LUM retroreflective powder coatings. Such innovations will drive the product adoption.
 

The urethane surface coatings market from wood & furniture applications might capture a sizeable market share by 2032. Factors such as urbanization have bolstered the demand for furniture as the construction of residential buildings is gaining notable momentum each year. According to the U.S. Census Bureau, in November 2022, privately-owned housing completions touched 1.49 million, which was 6% higher than the rate of November 2021. This product is majorly utilized for coating wooden pieces owing to its properties, such as excellent adhesion, color retention, and resistance to UV, heat, domestic spills, humidity as well as moisture. These features may stimulate industry trends.
 

North America market will increase significantly during the analysis timeline. The region’s oil & gas sector is expanding at a robust pace every year as the demand and production of crude oil and gas is high in countries such as the U.S. According to the U.S. Energy Information Administration (EIA), crude oil production reached its highest level in August 2022 with 11.87 million barrels/day. This product is majorly used as a protective coating for industrial equipment as it possesses anti-corrosion characteristics, thus further stimulating industry growth.
 

Urethane Surface Coatings Market Share

Major companies operating in the urethane surface coatings industry competitive landscape include:

• BASF
•  Sherwin Williams
• Axalta Coating System
•  PPG
• Asian Paints
• AkzoNobel
• Covestro Jotun
• Evonik Industries
   

Urethane Surface Coatings Industry News

In February 2024, Sherwin-Williams Aerospace Coatings introduced the Single Stage Topcoat 858 Series SKYscapes, a user-friendly system designed for both the exterior and interior surfaces of general aviation aircraft. This polyester/urethane hybrid topcoat provides a seamless application process, offering a consistent, durable, and vibrant finish with various gloss levels, including a clearcoat option.