Covestro invests in sustainable coatings and adhesive raw materials.As the chemicals producer puts new manufacturing facilities in Germany and announces expansion in Spain, production capacity in Europe will increase significantly.In addition, Covestro Expand Sino-US production capacity.
Colestron, a plant based in Dormagen, Germany, started production of water-based polyurethane dispersions (PUDs) and is expanding its production capacity in Europe with the current expansion of production in Barcelona. To meet global demand, Covestro also opens new locations in China and Plans to resume production and modernize and expand facilities in the United States.
The new capacity is primarily to meet the growing demand in the coatings and adhesives industry: manufacturers are still determined to replace solvent-based products with waterborne systems of equal good performance.
Create growth opportunities
Michael Friede, Global Head of Coatings, Adhesives and Specialty Products at Covestro, said: "With these investments, we are prepared to sustain the growth in demand for polyurethane dispersions, consolidate our global leadership and, thanks to our diversified manufacturing, We have the flexibility to meet a variety of needs.
This diversity is also key to the full range of Polyurethane Dispersions (PUDs) supplied by Covestro, and Michael Friede explains: 'We tailor our products to a wide range of applications across a wide range of industries, creating growth opportunities and enhancing Customer competitiveness.
Polyurethane paint market data
It is estimated that polyurethane coatings have a market size of 3.2-3.5 million tons, accounting for about 60% in Asia Pacific, 20% in Europe, followed by North America (15%) and the remaining 5% mainly in Central and South America. It is estimated that by 2020, the output will reach nearly 4 million tons.
Polyurethane paint is the largest consumer of wood and furniture industries, nearly 30%. Automotive OEM division accounted for 25% of the share of the two terminal industries vary by region.
The five leading markets for polyurethane coatings are AkzoNobel, PPG Industries, Sherwin-Williams, Axalta and Asian Coatings, all of which together make up 50% of the market.