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Covestro focuses on the Indian coatings industry and expands the PU materials business
HC Coatings News: In addition to high-end customers, Covestro is currently focusing on Indian medium-sized coatings manufacturers to expand the market demand for products in the country.
Covestro, formerly Bayer MaterialScience, focused on the Indian industrial coatings market as the driving force behind its coatings, adhesives and specialty chemicals (collectively CAS). Polyurethane raw materials for building module coatings are used in a wide range of applications from metal to composite materials. The global environment is not optimistic, but India is one of the highlights. This gives Covestro a vision and hope for its CAS business, which supplies raw materials for coatings, automotive, shoe materials and electronics.
Zhong Xiaobin, vice president of Costron*, is close to India. He said: “India is one of the fastest growing economies. While growth in other emerging markets has slowed, India has reached 7.5 percent. Growth rate of 8. We believe that India is a market with great potential for polyurethane products, because these products currently have low penetration rate in India. The terminal industry, such as cars, wooden furniture, construction and other new technologies are constantly upgrading, The market demand for PU materials is bound to increase, which brings us great development opportunities. In these years, we invested in the construction of production equipment and application centers in India (Anker Siva, Gujarat) to meet the local market. demand.
Globally, coatings account for about 70% of CAS product sales, but in India, it accounts for 50%. In order to expand the user base of coatings, Covestro intends to enter the automotive PU materials market.
Dr. Kumar Iyer, President of CAS, Covestro India Ltd. said: “For Covestro, the original car manufacturer is our global* market, but in India, this is not the case. Due to the lack of understanding of PU products, Indian cars Manufacturers do not use PU-based coatings. We have been able to change this situation by strengthening contact with end users and communicating the advantages of PU materials over traditional materials. When they see the value of PU products After that, we believe that the market demand for PU materials will increase exponentially."
PU coatings account for 60% of the Chinese wood products market, but in India, only 15%. In China and other Southeast Asian countries, PU coatings are mainly used in motorcycles and tricycles, while in India, they are still in their infancy.
Covestro hopes that India can follow the global trend to transform into an environmentally friendly coating system. In fact, this change is particularly evident in the footwear industry, which is one of the main markets for Covestro"s PU materials. Footwear manufacturers have been using rubber-based adhesives, but now they mainly use water-based adhesives. . Some big companies such as Adi and Nike use only new adhesives, and even some Indian companies such as Bata have promised to switch to water-based adhesive usage.
Covestro, formerly Bayer MaterialScience, focused on the Indian industrial coatings market as the driving force behind its coatings, adhesives and specialty chemicals (collectively CAS). Polyurethane raw materials for building module coatings are used in a wide range of applications from metal to composite materials. The global environment is not optimistic, but India is one of the highlights. This gives Covestro a vision and hope for its CAS business, which supplies raw materials for coatings, automotive, shoe materials and electronics.
Zhong Xiaobin, vice president of Costron*, is close to India. He said: “India is one of the fastest growing economies. While growth in other emerging markets has slowed, India has reached 7.5 percent. Growth rate of 8. We believe that India is a market with great potential for polyurethane products, because these products currently have low penetration rate in India. The terminal industry, such as cars, wooden furniture, construction and other new technologies are constantly upgrading, The market demand for PU materials is bound to increase, which brings us great development opportunities. In these years, we invested in the construction of production equipment and application centers in India (Anker Siva, Gujarat) to meet the local market. demand.
Globally, coatings account for about 70% of CAS product sales, but in India, it accounts for 50%. In order to expand the user base of coatings, Covestro intends to enter the automotive PU materials market.
Dr. Kumar Iyer, President of CAS, Covestro India Ltd. said: “For Covestro, the original car manufacturer is our global* market, but in India, this is not the case. Due to the lack of understanding of PU products, Indian cars Manufacturers do not use PU-based coatings. We have been able to change this situation by strengthening contact with end users and communicating the advantages of PU materials over traditional materials. When they see the value of PU products After that, we believe that the market demand for PU materials will increase exponentially."
PU coatings account for 60% of the Chinese wood products market, but in India, only 15%. In China and other Southeast Asian countries, PU coatings are mainly used in motorcycles and tricycles, while in India, they are still in their infancy.
Covestro hopes that India can follow the global trend to transform into an environmentally friendly coating system. In fact, this change is particularly evident in the footwear industry, which is one of the main markets for Covestro"s PU materials. Footwear manufacturers have been using rubber-based adhesives, but now they mainly use water-based adhesives. . Some big companies such as Adi and Nike use only new adhesives, and even some Indian companies such as Bata have promised to switch to water-based adhesive usage.