Waterborne Polyurethane Dispersions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region:

Description

The global waterborne polyurethane dispersions (PUDs) market is experiencing significant growth, driven by increasing demand for cleaner and safer coating solutions across various industries. According to a recent report by Fairfield Market Research, the market is poised to reach approximately US$ 1.69 billion in 2024, marking a 4.6% year-on-year growth. Projections suggest that the market will continue to expand, ultimately reaching US$ 2.6 billion by the end of 2031.

Rising Demand for Sustainable Coatings

The surge in demand for waterborne polyurethane dispersions is attributed to the shift toward safer and environmentally friendly coatings and adhesives. These dispersions are considered a safer alternative to solvent-based coatings and adhesives, as they contain lower levels of hazardous chemicals, contributing to enhanced health and safety conditions.

Waterborne PUDs offer several advantages over their solvent-based counterparts, including low volatile organic compound (VOC) emissions, eco-friendliness, and ease of application. They find applications in various industries, including automotive, construction, textiles, furniture, packaging, and more, thanks to their excellent adhesion, flexibility, water resistance, and printability.

Wood Industry Driving Market Growth

The wood industry plays a significant role in propelling the waterborne PUD market forward. These dispersions serve as alternatives to solvent-based paints and adhesives commonly used in woodworking. Waterborne PUDs provide numerous advantages, including enhanced adhesion, flexibility, and durability when applied to wood surfaces. They also offer protection against UV rays, chemicals, and abrasion, increasing the durability of wood products.

Furthermore, waterborne PUDs are favored in the wood industry for their adaptability and aesthetic appeal. They do not require harsh solvents for application, reducing the risk of worker exposure to hazardous substances.

Challenges in Raw Material Prices

Despite the promising growth, the waterborne PUD market faces challenges, including volatility in raw material prices. The cost of production is directly influenced by fluctuations in raw material prices. Key materials such as polyols, isocyanates, and others, primarily derived from crude oil, are susceptible to price fluctuations.

Geopolitical tensions and conflicts, such as the Russia-Ukraine conflict, have significantly impacted crude oil prices, leading to pricing uncertainties in the market. Manufacturers may find it challenging to maintain competitive prices for their waterborne PUD products, potentially impacting demand and hindering market growth.

Country-wise Insights

China: China's rapid industrialization and regulatory measures promoting solvent-free coatings are driving the demand for waterborne PUDs. The country's robust automotive, construction, textiles, and furniture manufacturing industries are significant end users, contributing to market growth.
United States: The U.S. market is experiencing substantial growth due to strict regulations on VOC emissions, increased demand for water-based coatings, and a growing preference for sustainable solutions. The presence of a strong automotive industry further fuels market expansion.

Competitive Landscape

The waterborne polyurethane dispersions market is witnessing consolidation through mergers and acquisitions. Major multinational companies are acquiring smaller players to expand their product portfolios and geographic presence. These companies are also investing in research and development to enhance dispersion properties, including adhesion, durability, and flexibility.

Key market participants, including

BASF SE
Covestro AG
Lubrizol Corp.
Dow Inc.
Wanhua Chemical Group Ltd.
Mitsui Chemicals
DIC Corp.
Lanxess AG
Songwon Industrial Co. Ltd.
Allnex GmbH
Stahl Holdings BV

Waterborne PUD Industry Research Segmentation

By Product Type:

Anionic PUD
Cationic PUD
Nonionic PUD
Self-Crosslinking PUD
Hybrid PUD

By Application:

Wood Coatings

Furniture

Floor

Others

Metal Coatings

Automotive Parts

Appliances

Equipment & Machinery

Textile Coatings
Paper Coatings
Plastic Coatings
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East and Africa

1. Executive Summary

1.1. Global Waterborne Polyurethane Dispersion (PUD) Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Waterborne PUD Market Outlook, 2018 - 2031

3.1. Global Waterborne PUD Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Anionic PUD
  - 3.1.1.2. Cationic PUD
  - 3.1.1.3. Nonionic PUD
  - 3.1.1.4. Self-Crosslinking PUD
  - 3.1.1.5. Hybrid PUD
3.2. Global Waterborne PUD Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Wood Coatings
    - 3.2.1.1.1. Furniture
    - 3.2.1.1.2. Floor
    - 3.2.1.1.3. Others
  - 3.2.1.2. Metal Coatings
    - 3.2.1.2.1. Automotive Parts
    - 3.2.1.2.2. Appliances
    - 3.2.1.2.3. Equipment & Machinery
  - 3.2.1.3. Textile Coatings
  - 3.2.1.4. Paper Coatings
  - 3.2.1.5. Plastic Coatings
  - 3.2.1.6. Others
3.3. Global Waterborne PUD Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Waterborne PUD Market Outlook, 2018 - 2031

4.1. North America Waterborne PUD Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Anionic PUD
  - 4.1.1.2. Cationic PUD
  - 4.1.1.3. Nonionic PUD
  - 4.1.1.4. Self-Crosslinking PUD
  - 4.1.1.5. Hybrid PUD
4.2. North America Waterborne PUD Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Wood Coatings
    - 4.2.1.1.1. Furniture
    - 4.2.1.1.2. Floor
    - 4.2.1.1.3. Others
  - 4.2.1.2. Metal Coatings
    - 4.2.1.2.1. Automotive Parts
    - 4.2.1.2.2. Appliances
    - 4.2.1.2.3. Equipment & Machinery
  - 4.2.1.3. Textile Coatings
  - 4.2.1.4. Paper Coatings
  - 4.2.1.5. Plastic Coatings
  - 4.2.1.6. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Waterborne PUD Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 4.3.1.2. U.S. Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 4.3.1.3. Canada Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 4.3.1.4. Canada Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Waterborne PUD Market Outlook, 2018 - 2031

5.1. Europe Waterborne PUD Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Anionic PUD
  - 5.1.1.2. Cationic PUD
  - 5.1.1.3. Nonionic PUD
  - 5.1.1.4. Self-Crosslinking PUD
  - 5.1.1.5. Hybrid PUD
5.2. Europe Waterborne PUD Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Wood Coatings
    - 5.2.1.1.1. Furniture
    - 5.2.1.1.2. Floor
    - 5.2.1.1.3. Others
  - 5.2.1.2. Metal Coatings
    - 5.2.1.2.1. Automotive Parts
    - 5.2.1.2.2. Appliances
    - 5.2.1.2.3. Equipment & Machinery
  - 5.2.1.3. Textile Coatings
  - 5.2.1.4. Paper Coatings
  - 5.2.1.5. Plastic Coatings
  - 5.2.1.6. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Waterborne PUD Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 5.3.1.2. Germany Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.3. U.K. Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 5.3.1.4. U.K. Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.5. France Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 5.3.1.6. France Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.7. Italy Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 5.3.1.8. Italy Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.9. Turkey Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 5.3.1.10. Turkey Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.11. Russia Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 5.3.1.12. Russia Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 5.3.1.13. Rest of Europe Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 5.3.1.14. Rest of Europe Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Waterborne PUD Market Outlook, 2018 - 2031

6.1. Asia Pacific Waterborne PUD Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Anionic PUD
  - 6.1.1.2. Cationic PUD
  - 6.1.1.3. Nonionic PUD
  - 6.1.1.4. Self-Crosslinking PUD
  - 6.1.1.5. Hybrid PUD
6.2. Asia Pacific Waterborne PUD Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 6.2.1. Key Highlights
- 6.2.2. Key Highlights
  - 6.2.2.1. Wood Coatings
    - 6.2.2.1.1. Furniture
    - 6.2.2.1.2. Floor
    - 6.2.2.1.3. Others
  - 6.2.2.2. Metal Coatings
    - 6.2.2.2.1. Automotive Parts
    - 6.2.2.2.2. Appliances
    - 6.2.2.2.3. Equipment & Machinery
  - 6.2.2.3. Textile Coatings
  - 6.2.2.4. Paper Coatings
  - 6.2.2.5. Plastic Coatings
  - 6.2.2.6. Others
- 6.2.3. BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Waterborne PUD Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 6.3.1.2. China Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.3. Japan Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 6.3.1.4. Japan Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.5. South Korea Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 6.3.1.6. South Korea Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.7. India Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 6.3.1.8. India Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.9. Southeast Asia Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 6.3.1.10. Southeast Asia Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Waterborne PUD Market Outlook, 2018 - 2031

7.1. Latin America Waterborne PUD Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Anionic PUD
  - 7.1.1.2. Cationic PUD
  - 7.1.1.3. Nonionic PUD
  - 7.1.1.4. Self-Crosslinking PUD
  - 7.1.1.5. Hybrid PUD
7.2. Latin America Waterborne PUD Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Wood Coatings
    - 7.2.1.1.1. Furniture
    - 7.2.1.1.2. Floor
    - 7.2.1.1.3. Others
  - 7.2.1.2. Metal Coatings
    - 7.2.1.2.1. Automotive Parts
    - 7.2.1.2.2. Appliances
    - 7.2.1.2.3. Equipment & Machinery
  - 7.2.1.3. Textile Coatings
  - 7.2.1.4. Paper Coatings
  - 7.2.1.5. Plastic Coatings
  - 7.2.1.6. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Waterborne PUD Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 7.3.1.2. Brazil Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.3.1.3. Mexico Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 7.3.1.4. Mexico Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.3.1.5. Argentina Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 7.3.1.6. Argentina Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 7.3.1.7. Rest of Latin America Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 7.3.1.8. Rest of Latin America Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Waterborne PUD Market Outlook, 2018 - 2031

8.1. Middle East & Africa Waterborne PUD Market Outlook, by Product Type, Value (US$ Bn), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Anionic PUD
  - 8.1.1.2. Cationic PUD
  - 8.1.1.3. Nonionic PUD
  - 8.1.1.4. Self-Crosslinking PUD
  - 8.1.1.5. Hybrid PUD
8.2. Middle East & Africa Waterborne PUD Market Outlook, by Application, Value (US$ Bn), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Wood Coatings
    - 8.2.1.1.1. Furniture
    - 8.2.1.1.2. Floor
    - 8.2.1.1.3. Others
  - 8.2.1.2. Metal Coatings
    - 8.2.1.2.1. Automotive Parts
    - 8.2.1.2.2. Appliances
    - 8.2.1.2.3. Equipment & Machinery
  - 8.2.1.3. Textile Coatings
  - 8.2.1.4. Paper Coatings
  - 8.2.1.5. Plastic Coatings
  - 8.2.1.6. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Waterborne PUD Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 8.3.1.2. GCC Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.3.1.3. South Africa Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 8.3.1.4. South Africa Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.3.1.5. Egypt Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 8.3.1.6. Egypt Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.3.1.7. Nigeria Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 8.3.1.8. Nigeria Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Waterborne PUD Market by Product Type, Value (US$ Bn), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Waterborne PUD Market by Application, Value (US$ Bn), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Manufacturer vs by Application Heatmap
9.2. Company Market Share Analysis, 2023
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Pfizer Inc.
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. Eli Lilly and Company
  - 9.4.2.1. Company Overview
  - 9.4.2.2. Product Portfolio
  - 9.4.2.3. Financial Overview
  - 9.4.2.4. Business Strategies and Development
- 9.4.3. AbbVie, Inc.
  - 9.4.3.1. Company Overview
  - 9.4.3.2. Product Portfolio
  - 9.4.3.3. Financial Overview
  - 9.4.3.4. Business Strategies and Development
- 9.4.4. Teva Pharmaceutical Industries Ltd.
  - 9.4.4.1. Company Overview
  - 9.4.4.2. Product Portfolio
  - 9.4.4.3. Financial Overview
  - 9.4.4.4. Business Strategies and Development
- 9.4.5. Johnson & Johnson Services, Inc.
  - 9.4.5.1. Company Overview
  - 9.4.5.2. Product Portfolio
  - 9.4.5.3. Financial Overview
  - 9.4.5.4. Business Strategies and Development
- 9.4.6. Sanofi
  - 9.4.6.1. Company Overview
  - 9.4.6.2. Product Portfolio
  - 9.4.6.3. Financial Overview
  - 9.4.6.4. Business Strategies and Development
- 9.4.7. GlaxoSmithKline plc.
  - 9.4.7.1. Company Overview
  - 9.4.7.2. Product Portfolio
  - 9.4.7.3. Financial Overview
  - 9.4.7.4. Business Strategies and Development
- 9.4.8. Bayer AG
  - 9.4.8.1. Company Overview
  - 9.4.8.2. Product Portfolio
  - 9.4.8.3. Financial Overview
  - 9.4.8.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations