Waterborne Polyurethane Dispersions Market

Waterborne Polyurethane Dispersions Market Outlook

As per rigorous research by ChemView Consulting, our analysts believe that the global waterborne polyurethane dispersions market will grow at a 5.2%?CAGR during the period 2023–2033 to reach a valuation of?US $3027.6 million by 2033.

Key Findings on the Waterborne Polyurethane Dispersions Market

1. Which is the largest market for waterborne polyurethane dispersions?

The biggest market for waterborne polyurethane dispersions is East Asia. As per our analysis, East Asia holds nearly 36.4% share of the waterborne polyurethane dispersions market.

2. What is the largest end use industry segment within the waterborne polyurethane dispersions market?

As per ChemView Consulting, the largest segment by end use industry is textile. As per our analysis, this segment accounts for nearly 37.8% of total revenues.

3. At what rate is the waterborne polyurethane dispersions market expected to grow?

The waterborne polyurethane dispersions market is expected to grow at a CAGR of 5.2% during the period 2023–2033.

4. What are the major trends influencing the waterborne polyurethane dispersions market?

• Growing Construction Sector: The expanding construction industry, particularly in emerging nations, is driving up demand for waterborne polyurethane dispersions in adhesives, sealants, and architectural paints.
• Water-Based Coatings Demand: The growing need for water-based coatings in industries such as construction, automotive, and furniture is boosting the market for waterborne polyurethane dispersions, which offer low toxicity and increased safety.

5. Who are the leading players in the waterborne polyurethane dispersions market?

Key Drivers for Waterborne Polyurethane Dispersions Demand

• Rising environmental consciousness and stronger regulations on volatile organic compounds (VOCs) and hazardous chemicals are driving demand for waterborne polyurethane dispersions, which have a lower environmental impact and emit fewer emissions.
• In addition, urbanization is fuelling the demand for infrastructure development and upgrading. Waterborne polyurethane dispersions are used in coatings for bridges, tunnels, and architectural buildings, meeting the needs of constantly growing communities.
• Furthermore, the need for wood coatings, which include furniture and flooring, is increasing. Waterborne polyurethane dispersions are a popular choice owing to their low VOC content, durability, and aesthetic appeal, making this a desirable market area for manufacturers.

Key Challenges Inhibiting Demand for Waterborne Polyurethane Dispersions

• Waterborne polyurethane dispersions may require more expensive raw materials and manufacturing procedures than conventional solvent-based alternatives. This might result in greater product costs, which can hinder market uptake, particularly in price-sensitive industries.
• Moreover, waterborne polyurethane dispersions often take longer to dry and cure than their solvent-based counterparts. This can have an impact on production efficiency and cause delays in companies where a quick turnaround is crucial.

Key Challenges & Opportunities for Waterborne Polyurethane Dispersions Manufacturers

• Maintaining consistent quality and performance of waterborne polyurethane dispersions between batches can be difficult, as differences in raw ingredients or processing parameters might alter the finished product.
• However, manufacturers can provide customized formulations to meet the needs of specific industries. Product customization for specific applications can aid in capturing market segments with particular needs.

Country/Region-wise Insights

US Waterborne Polyurethane Dispersions Market Forecast 

• A surge in construction and infrastructure development in the US market is projected to observe significant growth?in the estimated period.
• In addition, recent advances in technology have improved the performance and versatility of water polyurethane dispersions, making them an appealing solution for a wide range of applications such as automobile coatings, furniture finishing, and industrial coatings.

Europe Waterborne Polyurethane Dispersions Market Outlook

• Ongoing research and development, along with a growing need for high-performance, environmentally friendly materials in the Europe market are anticipated to drive sales in the market over the assessment period.
• Moreover, stringent rules and policies pushing the use of low-VOC (volatile organic compound) coatings and adhesives have prompted the development of water polyurethane dispersions, which meet these environmental standards.

Japan Waterborne Polyurethane Dispersions Market Forecast

• The thriving automotive and construction sectors in the Japan market are anticipated to drive the market over the forecasted period.
• Additionally, waterborne PUDs are an appealing choice owing to their low volatile organic compound (VOC) emissions and lower environmental impact when compared to traditional solvent-based alternatives, further propelling market growth.

China & India Waterborne Polyurethane Dispersions Market Forecast

• Growing concern about the environmental impact of typical solvent-based coatings in the China & India markets is anticipated to fuel the market over the forecast period. China & India markets waterborne polyurethane dispersions markets are likely to account for a leading share of the global waterborne polyurethane dispersions market.?
• In addition, government initiatives supporting environmental practices and stringent VOC standards have pushed the adoption of waterborne polyurethane dispersions in these markets.

Waterborne Polyurethane Dispersions Market Outlook & Forecast by Segmentation

By Application

Based on application, the sealants segment is expected to remain at the forefront of waterborne polyurethane dispersions market share over the assessment period. The growth is mainly because water polyurethane sealants provide high adhesion, durability, and moisture and chemical resistance. These characteristics make them appropriate for sealing joints, cracks, and gaps in a variety of construction and industrial applications.

In addition, as the global construction industry expands, there is an increasing demand for high-performance sealant materials. Waterborne polyurethane sealants have gained popularity because of their superior performance qualities, sustainability, and regulatory compliance, which positions them positively in the market.

By End Use Industry 

Based on end use industry, the textile segment is set to account for 37.8% of the waterborne polyurethane dispersions market share over the assessment period. The growth is because, as customers become increasingly aware of the environmental impact of the things they buy, textile manufacturers may be compelled to use water polyurethane dispersions to develop eco-friendly textiles, thereby appealing to a broader market.

In addition, environmental rules and restrictions on the use of certain chemicals in textile production may be pushing textile industries to employ waterborne polyurethane dispersions, which have lower amounts of volatile organic compounds and other undesirable emissions.

Which Company Owns the Largest Share in the Waterborne Polyurethane Dispersions Market?

The key companies in the waterborne polyurethane dispersions market are Axalta Coating Systems Ltd., Covestro, Dow, BASF, TLF, Bayer Materialscience, PPG Industries, Inc., 3M Company, Henkel AG & Co. KGaA, and H.B. Fuller Company.

Recent Developments:

• In August 2023, Covestro, a major manufacturer of innovative polymers and high-performance plastics, completed the construction of a new polyurethane dispersions (PUDs) production facility in Shanghai, China.

• In January 2020, BASF, a multinational corporation and the world’s largest chemical producer, announced a one-digit million-euro investment in the expansion of its Castellbisbal plant’s water-based polyurethane dispersion capability. BASF will be able to boost its manufacturing capacity by 30% as a result of this development.

• In June 2019, DSM collaborated with TLF, a multinational corporation that provides specialty chemicals to the leather and allied industries. This collaboration includes both the supply and R&D of innovative, sustainable water polyurethane dispersion systems.

As per our analysis, the companies that hold the largest share in the market are

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Axalta Coating Systems Ltd.

Founded in 1866 and with headquarters in Philadelphia, Pennsylvania, United States, it is a corporation that specialises in coatings for a wide range of industrial uses, materials, and sectors, including automobile paints.

Henkel AG & Co. KGaA

Founded in 1876 and headquartered in Düsseldorf, Germany, it is a global chemical and consumer goods corporation.

PPG Industries, Inc.

Founded in 1883 and with headquarters in Pittsburgh, Pennsylvania, the United States, it is a global manufacturer and supplier of paints, coatings, and specialty materials.

H.B. Fuller Company

Founded in 1887 and with headquarters in Saint Paul, Minnesota, United States, it is a prominent adhesive manufacturer that supplies industrial adhesives all over the world.

3M Company

Founded in 1902 and with headquarters in Saint Paul, Minnesota, United States, it is a world-class optical coating facility that manufactures a wide variety of thin-film optical coatings.

What Makes this Report More Insightful than Others?

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