Soft Touch Polyurethane Coatings Market

1. Soft Touch Polyurethane Coatings Market Soft touch polyurethane coatings are a key category of soft touch coatings made using polyurethane dispersions. Waterborne or ultraviolet (UV)- cured systems and solvent-borne polyurethane systems are being formulated with a wide range of resin systems to meet the diverse end-use requirement characteristics of soft touch polyurethane coatings market. The soft-touch feeling or the haptic effect that these coating systems impart to substrates is the key proposition of the demand in diverse applications. Formulators are also conscious about the coming out with a combination of the haptic effect with the desired mechanical performance characteristics of end-use industries. Prominently emerging uses are in consumer electronics, appliances, automotive interiors, and cosmetic packaging, where the soft touch polyurethane coatings market increasingly meet to need the sensory perceptions of consumers. An example of the use of these coatings is on plastic surface when they are needed too impart agreeable tactile sensations to consumers of plastic products The global soft-touch polyurethane coatings market is projected to surpass US$ 11.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 7.4% during the forecast period (2019 to 2027). Drivers Rising adoption of plastic in automobile interiors is raising demand for soft-touch polyurethane coatings which in turn augmenting the market growth. These coatings are widely used to coat the surface of the plastic in order to offer resistance to various environmental factors such as scratch, abrasion, chemicals, and heat. Soft- touch polyurethane coatings also provide a durable and lavish look to the interior component of the soft-touch polyurethane. Increasing demand for soft-touch polyurethane coatings from the electronic industry for improving aesthetics and touch of electronic devices is expected to fuel the market growth. These coatings offer a rich feel and soft touch to the devices that give a premium feel to the product with enhanced handling. Apart from this it also offers a protective shield to the devices from any accidental scratch and damages.  Market Restraints Threat from substitutes from other technology such as masterbatches as it is a new technology and mainly used across interior furniture and also interior parts of an automobile is expected to restrict the market growth. Moreover, masterbatches provide homogeneous color and remove the additional coating efforts and operating costs. Thus, the long-term benefits of masterbatch are expected to restrict the market growth of soft-touch polyurethane coatings.

2. Lack of awareness regarding the benefits of soft touch PU coatings among industrial manufacturers of developing is expected to restrict the market growth over the forecast period. Market Opportunities Growth of the automotive industry in BRIC regions is expected to provide enormous growth opportunity to the market of the soft touch PU coatings. According to the Coherent Market Insights analysis, the automotive industry is expected to expand at a growth rate of 3-5% during 2015–2020 in BRIC countries, especially in India and Brazil. This is expected to foster market growth in the near future. Few Recent Developments The Sherwin Williams Company •In March 2016, the company announced that it would acquire Valspar Corporation, a U.S.-based competitor engaged in the manufacturing and distribution of paints. This acquisition offers the company an opportunity to expand its presence in Europe and the Asia Pacific.