Soft Touch Polyurethane Coatings Market Drivers, Market Opportunities, Trends and Forecast to 2022

The global soft touch polyurethane coatings market is expected to display attractive market growth in forthcoming years. The soft touch polyurethane coatings are made use of in aircraft interiors, wood interiors and in consumer electronic devices such as mobile phones, TV, laptop and computer cases. Cosmetic cases and kitchenware come second in soft touch polyurethane coatings market.

A rising demand for fuel-economy and efficient vehicles and environmental restrictions have burdened automakers to opt for lighter components. Most metallic components are being overlooked by plastic materials such as Acetointrile Butadiene Styrene (ABS). These materials need coating on the outer body to have organoleptic properties.

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Thus, an increased need for plastics in automobile components have led growth in the market for soft touch polyurethane coatings as a much perceived choice thanks to properties of yellowing, scratching, abrasion and chemicals. The same can be said for soft touch polyurethane coatings, which are used as arm rests, door trims, airbags conduits and steering wheel and front panels.

Government stipulations and environmental constrictions have influenced manufacturers to adopt soft touch polyurethane coatings with low or no organic content (VOC). Solvent-based two component systems has given way to soft touch polyurethane coating because of limitations in two component systems that has high VOC content as compared to water based coating.

Water based low VOC coating is formulated using low molecular weight polymers and reactive diluents. Hence, this gives reason to use water based PU coating and personalized as per requirements to be used in various applications such as automotive, wood and furniture and electronics. Segmentation of soft touch polyurethane coatings market by base type includes water-based and solvent-based. Segmentation of soft touch polyurethane coatings market by product type includes 2K and UV coating systems.

Based on end-user industry, the soft touch polyurethane coatings market is segmented into transport and automotive, electrical and electronics, wood and furniture and others. The solvent based segment is currently retaining market growth but water -based system is expected to grow during forecast period. The transport and automotive segment are on the verge of offering products with enhanced properties such as warm and rich feel.

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The properties play a significant part in customer buying preference and increased per capita income amongst consumers is attracting customers to buy high priority goods. The key players in the market include PPG industries, Inc., Akzo Nobel N.V, RPM International, Inc., The Sherwn Williams Company, AexecelCorpoartaion, Sokan New Materials, and Jotun AS.