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Growth Of Soft Touch Polyurethane Coatings Market

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 impart aesthetically pleasing, velvety smooth textured finish to the applied surface. These coatings offer excellent abrasion and chemical resistance along with superior adhesion properties. They are widely used for coating plastics, metals, wood and other surfaces in various industries like furniture, automotive etc.

Market key trends:

One of the major trends driving the growth of soft touch polyurethane coatings market is increasing focus of coatings manufacturers on digital marketing strategies. Traditionally, manufacturers relied heavily on trade exhibitions, banners and print media for marketing. However, with rapid growth of internet and smartphones, digital marketing has become a key focus area. Manufacturers are increasingly using websites, search engine optimization, social media, online audio/video channels and customized apps for promoting their products.

Digital tools help manufacturers target wider audience, track engagement and optimize spending. This is positively impacting the sales and demand for soft touch polyurethane coatings.

Segment Analysis

The global soft touch polyurethane coatings market is segmented on the basis of substrate, end-use industry and region. Based on substrate, the market is classified into plastic, metal, leather and others. Among these, the plastic segment dominates the market owing to increasing usage of plastics in various industries such as automotive, consumer goods etc. where soft touch coatings are required to improve aesthetics and tactile sensation.

Key Takeaways

The Global Soft Touch Polyurethane Coatings Market Growth is expected to witness high, exhibiting CAGR of 8.9% over the forecast period, due to increasing demand from automotive and consumer goods industries.

Regional analysis:

Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period. This can be attributed to rising automobile production and growing middle class population in countries such as China and India who are increasingly spending on consumer goods.

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 and PPG Industries dominate the market owing to their extensive product portfolio and global presence.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/soft-touch-polyurethane-coatings-market-growth-and-outlook-analysis/

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