(PRWEB) June 10, 2014
The urethane coating additives market is mainly driven by the increasing demand from end-user sectors such as construction, bedding & furniture, construction, and automotive paints. These industries, in particular, have witnessed strong growth in the past few years, which is driving manufacturers to increase the production of urethane coating additives. It is expected that the future prospects of the industry would be dominated by additives which reduce the VOC and APEO content in the formulation.
The Asia-Pacific urethane coating additives market is expected to reach $855.0 million by 2018, to grow at a CAGR of 6.3% from 2013 to 2018. APAC is the largest urethane coating additives market in the world, as well as one of the most promising markets for urethane additives, both in terms of production as well as consumption. Availability of cheap raw material and labor, coupled with upcoming domestic demand, enables this market to be the most attractive one for industry participants.
Browse through the market data tables, figures and detailed ToC on the “Asia Pacific Urethane Coating Additives Market”.
North American Urethane Coating Additives Market
North America’s urethane coating additives market is expected to reach $509.5 million by 2018, to grow at a CAGR of 5.1% from 2013 to 2018. North America is the second-largest market of urethane coatings after Asia-Pacific. In 2013, North America accounted for 27.13% of the global urethane coating additives consumption. The construction industry was the major consumer of urethane coating additives in North America, contributing to 33.5% of the North American urethane coating additives market in 2013.
European Urethane Coating Additives Market
The European urethane coating additives market is expected to reach $297.0 million by 2018, to grow at a CAGR of 1.6% from 2013 to 2018. Europe is the third-largest consumer of urethane coatings after Asia-Pacific and North America. Europe contributes to 18.73% of the global urethane coating additives market. The major countries in Europe that consume urethane coatings are Germany, the U.K., France, and Italy.
South American Urethane Coating Additives Market
South America’s urethane coating additives market is expected to reach $152.3 million by 2018, to grow at a CAGR of 5.0% from 2013 to 2018. Brazil and the Argentina are the two major countries that consume urethane coating additives produced or imported in South America. The automotive, architectural, and wood & furniture industries are major consumers of urethane coatings in South America.
Middle East and African Urethane Coating Additives Market
Middle East and Africa’s urethane coating additives market is expected to reach $89.3 million by 2018, to grow at a CAGR of 8.0% from 2013 to 2018. The construction industry in Saudi Arabia is shrinking due to the ongoing economic crisis. This, in turn, is expected to reduce the demand for coating additives in the country. Added to that, the volume growth in the other countries of Middle East and Africa are experiencing reduction in demand for coating additives due to the slowdown in their economies.
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