PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1235877
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1235877
Polyurethane Dispersions Market Forecasts to 2028 - Global Analysis By Type (Low-Solvent, Solvent Based, Water Based and Other Types), Application (Leather Finishing, Paints & Coatings and Other Applications) and Geography
According to Stratistics MRC, the Global Polyurethane Dispersions Market is accounted for $2.26 billion in 2022 and is expected to reach $3.81 billion by 2028 growing at a CAGR of 9.1% during the forecast period. PUD, or polyurethane dispersion, is a polyurethane polymer resin that has been dispersed in water as opposed to a solvent. The market is expanding because of increased demand from many industries, including the automotive industry, paint & coatings, textile, and leather coatings. Since leather is used to make footwear, handbags, and other items, the demand for leather products is mostly driven by consumer goods, which are also thought to generate demand for polyurethane dispersions. Because water-based polyurethane dispersion has less volatile organic ingredient, it is frequently utilised in car paints.
According to the International Trade Center (ITC), exportation growth in the quantity of footwear (with outer shole of rubber, plastic, and leather composition) was 73% in 2017-2018 in China.
Market Dynamics:
Driver:
Growing demand from textile and leather industry
The outstanding tensile strength, extreme temperature durability, high elasticity, and great abrasion resistance of polyurethane dispersions make them a popular choice for finishing leather and textiles. Therefore, it is predicted that the need for polyurethane dispersions would increase due to the growing use of leather in the production of purses, shoes, seat coverings, garments, and other goods. Thus, it is predicted that rising demand for leather goods will increase demand for polyurethane dispersions.
Restraint:
Increasing demand for acid-epoxy coatings
PUDs have a significant impact on the coatings sector. However, the coating industry is very concerned about the volatile organic compound (VOC) concentration of polyurethane coatings. To address the "zero-VOC" aim and create newer technologies, raw material providers must make large investments in R&D. This will lessen the adverse effects on human health and the environment. To stop using tin as a catalyst for polyurethane coatings, the European Union (EU) must establish regulations. Acid-epoxy adhesives are increasingly being used to address these problems. These epoxy-based coatings are phenolic resin-based coating solutions devoid of solvents and intended for steel structures, floors, and walls that require a durable, smooth surface finish.
Opportunity:
Strict government regulations
The implementation and design of strict environmental standards by governing agencies of many economies across the world presents a significant market opportunity for polyurethane dispersion. These dispersions are produced using numerous solvents, including NEP, NMP, and DMSO, which raises VOC emissions. The distillation process cannot readily get rid of these solvents. Due to the toxicity of these solvents, the market for polyurethane dispersion has tremendous growth potential.
Threat:
Fluctuation in the prices of crude oil
As the two main isocyanates that have been chosen for the production of polyurethane dispersion, MDI and TDI prices are affected by changes in the price of crude oil. Additionally, the fluctuation in crude oil prices has an impact on the manufacturers' ability to supply raw materials, which forces them to increase the price of their isocyanate products in order to make up for market losses. These are the main factors that impede the demand for polyurethane dispersion and limit market expansion.
COVID-19 Impact
The recent COVID-19 pandemic epidemic has had an effect on industry as well as the economy of several nations worldwide, including the polyurethane dispersion market. The government's prohibitions on individuals congregating in one location have had a significant negative influence on the development of the industry. Similar to the construction industry, aerospace, automotive, and import and export businesses, the polyurethane dispersion market also experienced a global reduction in revenue growth during this pandemic period.
The water-based segment is expected to be the largest during the forecast period
The Water-based segment is estimated to have a lucrative growth. Numerous commercial and industrial applications use water-based polyurethane dispersion. The market for water-based polyurethane dispersion is anticipated to increase due to rising laws ensuring minimal VOC emissions. VOC emissions are reduced by water-based paint. Water-based PUDs are in high demand since solvent-based PUDs must adhere to strict environmental standards.
The paints & coatings segment is expected to have the highest CAGR during the forecast period
The paints & coatings segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its outstanding durability, high abrasion resistance, minimal volatile organic compound emission, and lack of hazardous monomers, polyurethane dispersions are utilised in paints. Therefore, it is predicted that rising vehicle production will increase paint demand, which will then increase consumption of polyurethane dispersions.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to an increase in demand from different industries, including construction, automotive, adhesives & sealants, leather & textiles, and paint & coatings in Asian nations. For the production of synthetic leather and footwear, polyurethane dispersion is employed as a raw material. As a result, it is predicted that the market would grow due to the growing footwear sector. Additionally, consumers' increasing desire for comfort and fashionable lifestyles are boosting demand for footwear, which is anticipated to drive the market for polyurethane dispersions.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period. The European Union has reduced the maximum permitted level of VOCs in paint and coating formulations (EU). This is anticipated to increase costs for coating manufacturers in the near future and reduce the use of polymer dispersions based on solvents. At its Castellbisbal factory in Spain, BASF announced a low-single-digit million-euro investment to increase the capacity of water-based polyurethane dispersions.
Key players in the market
Some of the key players profiled in the Polyurethane Dispersions Market include: Covestro AG, Dow Chemical Company, Lanxess AG, Lubrizol Corporation, BASF SE, Alberdingk Boley GmbH, Perstorp AB, Huntsman Corporation, Mitsui Chemical Inc., Rudolf GMBH, Cytec Solvay Group, Chase Corporation, Lamberti SPA, 3M, Michelman, Inc., Hauthaway Corporation, Allnex and Chemtura Corporation.
Key Developments:
In February 2021, Covestro planned for a new production facility for polyurethane dispersion in China to address the rising demand for environmentally compatible coatings and adhesives in the Asia-Pacific region. The company has scheduled the completion of this plant for 2024.
In November 2019, Perstorp launched two new grades - ymer n90, with a longer EO chain, and n180, with a shorter chain to its range. The latest products present opportunities for new applications and are better for human health and the environment. The product can be used to improve the surface feeling of leather.
Types Covered:
- Low-Solvent
- Solvent Based
- Water Based
- Other Types
Applications Covered:
- Leather Finishing
- Paints & Coatings
- Textile Finishing
- Adhesives & Sealants
- Fiber Glass Sizing
- Construction
- Paper and Ink
- Automotive Refinishing
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Polyurethane Dispersions Market, By Type
- 5.1 Introduction
- 5.2 Low-Solvent
- 5.3 Solvent Based
- 5.4 Water Based
- 5.5 Other Types
6 Global Polyurethane Dispersions Market, By Application
- 6.1 Introduction
- 6.2 Leather Finishing
- 6.3 Paints & Coatings
- 6.4 Textile Finishing
- 6.5 Adhesives & Sealants
- 6.6 Fiber Glass Sizing
- 6.7 Construction
- 6.8 Paper and Ink
- 6.9 Automotive Refinishing
- 6.10 Other Applications
7 Global Polyurethane Dispersions Market, By Geography
- 7.1 Introduction
- 7.2 North America
- 7.2.1 US
- 7.2.2 Canada
- 7.2.3 Mexico
- 7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 Italy
- 7.3.4 France
- 7.3.5 Spain
- 7.3.6 Rest of Europe
- 7.4 Asia Pacific
- 7.4.1 Japan
- 7.4.2 China
- 7.4.3 India
- 7.4.4 Australia
- 7.4.5 New Zealand
- 7.4.6 South Korea
- 7.4.7 Rest of Asia Pacific
- 7.5 South America
- 7.5.1 Argentina
- 7.5.2 Brazil
- 7.5.3 Chile
- 7.5.4 Rest of South America
- 7.6 Middle East & Africa
- 7.6.1 Saudi Arabia
- 7.6.2 UAE
- 7.6.3 Qatar
- 7.6.4 South Africa
- 7.6.5 Rest of Middle East & Africa
8 Key Developments
- 8.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 8.2 Acquisitions & Mergers
- 8.3 New Product Launch
- 8.4 Expansions
- 8.5 Other Key Strategies
9 Company Profiling
- 9.1 Covestro AG
- 9.2 Dow Chemical Company
- 9.3 Lanxess AG
- 9.4 Lubrizol Corporation
- 9.5 BASF SE
- 9.6 Alberdingk Boley GmbH
- 9.7 Perstorp AB
- 9.8 Huntsman Corporation
- 9.9 Mitsui Chemical Inc.
- 9.10 Rudolf GMBH
- 9.11 Cytec Solvay Group
- 9.12 Chase Corporation
- 9.13 Lamberti SPA
- 9.14 3M
- 9.15 Michelman, Inc.
- 9.16 Hauthaway Corporation
- 9.17 Allnex
- 9.18 Chemtura Corporation
List of Tables
- Table 1 Global Polyurethane Dispersions Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Polyurethane Dispersions Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Polyurethane Dispersions Market Outlook, By Low-Solvent (2020-2028) ($MN)
- Table 4 Global Polyurethane Dispersions Market Outlook, By Solvent Based (2020-2028) ($MN)
- Table 5 Global Polyurethane Dispersions Market Outlook, By Water Based (2020-2028) ($MN)
- Table 6 Global Polyurethane Dispersions Market Outlook, By Other Types (2020-2028) ($MN)
- Table 7 Global Polyurethane Dispersions Market Outlook, By Application (2020-2028) ($MN)
- Table 8 Global Polyurethane Dispersions Market Outlook, By Leather Finishing (2020-2028) ($MN)
- Table 9 Global Polyurethane Dispersions Market Outlook, By Paints & Coatings (2020-2028) ($MN)
- Table 10 Global Polyurethane Dispersions Market Outlook, By Textile Finishing (2020-2028) ($MN)
- Table 11 Global Polyurethane Dispersions Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
- Table 12 Global Polyurethane Dispersions Market Outlook, By Fiber Glass Sizing (2020-2028) ($MN)
- Table 13 Global Polyurethane Dispersions Market Outlook, By Construction (2020-2028) ($MN)
- Table 14 Global Polyurethane Dispersions Market Outlook, By Paper and Ink (2020-2028) ($MN)
- Table 15 Global Polyurethane Dispersions Market Outlook, By Automotive Refinishing (2020-2028) ($MN)
- Table 16 Global Polyurethane Dispersions Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 17 North America Polyurethane Dispersions Market Outlook, By Country (2020-2028) ($MN)
- Table 18 North America Polyurethane Dispersions Market Outlook, By Type (2020-2028) ($MN)
- Table 19 North America Polyurethane Dispersions Market Outlook, By Low-Solvent (2020-2028) ($MN)
- Table 20 North America Polyurethane Dispersions Market Outlook, By Solvent Based (2020-2028) ($MN)
- Table 21 North America Polyurethane Dispersions Market Outlook, By Water Based (2020-2028) ($MN)
- Table 22 North America Polyurethane Dispersions Market Outlook, By Other Types (2020-2028) ($MN)
- Table 23 North America Polyurethane Dispersions Market Outlook, By Application (2020-2028) ($MN)
- Table 24 North America Polyurethane Dispersions Market Outlook, By Leather Finishing (2020-2028) ($MN)
- Table 25 North America Polyurethane Dispersions Market Outlook, By Paints & Coatings (2020-2028) ($MN)
- Table 26 North America Polyurethane Dispersions Market Outlook, By Textile Finishing (2020-2028) ($MN)
- Table 27 North America Polyurethane Dispersions Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
- Table 28 North America Polyurethane Dispersions Market Outlook, By Fiber Glass Sizing (2020-2028) ($MN)
- Table 29 North America Polyurethane Dispersions Market Outlook, By Construction (2020-2028) ($MN)
- Table 30 North America Polyurethane Dispersions Market Outlook, By Paper and Ink (2020-2028) ($MN)
- Table 31 North America Polyurethane Dispersions Market Outlook, By Automotive Refinishing (2020-2028) ($MN)
- Table 32 North America Polyurethane Dispersions Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 33 Europe Polyurethane Dispersions Market Outlook, By Country (2020-2028) ($MN)
- Table 34 Europe Polyurethane Dispersions Market Outlook, By Type (2020-2028) ($MN)
- Table 35 Europe Polyurethane Dispersions Market Outlook, By Low-Solvent (2020-2028) ($MN)
- Table 36 Europe Polyurethane Dispersions Market Outlook, By Solvent Based (2020-2028) ($MN)
- Table 37 Europe Polyurethane Dispersions Market Outlook, By Water Based (2020-2028) ($MN)
- Table 38 Europe Polyurethane Dispersions Market Outlook, By Other Types (2020-2028) ($MN)
- Table 39 Europe Polyurethane Dispersions Market Outlook, By Application (2020-2028) ($MN)
- Table 40 Europe Polyurethane Dispersions Market Outlook, By Leather Finishing (2020-2028) ($MN)
- Table 41 Europe Polyurethane Dispersions Market Outlook, By Paints & Coatings (2020-2028) ($MN)
- Table 42 Europe Polyurethane Dispersions Market Outlook, By Textile Finishing (2020-2028) ($MN)
- Table 43 Europe Polyurethane Dispersions Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
- Table 44 Europe Polyurethane Dispersions Market Outlook, By Fiber Glass Sizing (2020-2028) ($MN)
- Table 45 Europe Polyurethane Dispersions Market Outlook, By Construction (2020-2028) ($MN)
- Table 46 Europe Polyurethane Dispersions Market Outlook, By Paper and Ink (2020-2028) ($MN)
- Table 47 Europe Polyurethane Dispersions Market Outlook, By Automotive Refinishing (2020-2028) ($MN)
- Table 48 Europe Polyurethane Dispersions Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 49 Asia Pacific Polyurethane Dispersions Market Outlook, By Country (2020-2028) ($MN)
- Table 50 Asia Pacific Polyurethane Dispersions Market Outlook, By Type (2020-2028) ($MN)
- Table 51 Asia Pacific Polyurethane Dispersions Market Outlook, By Low-Solvent (2020-2028) ($MN)
- Table 52 Asia Pacific Polyurethane Dispersions Market Outlook, By Solvent Based (2020-2028) ($MN)
- Table 53 Asia Pacific Polyurethane Dispersions Market Outlook, By Water Based (2020-2028) ($MN)
- Table 54 Asia Pacific Polyurethane Dispersions Market Outlook, By Other Types (2020-2028) ($MN)
- Table 55 Asia Pacific Polyurethane Dispersions Market Outlook, By Application (2020-2028) ($MN)
- Table 56 Asia Pacific Polyurethane Dispersions Market Outlook, By Leather Finishing (2020-2028) ($MN)
- Table 57 Asia Pacific Polyurethane Dispersions Market Outlook, By Paints & Coatings (2020-2028) ($MN)
- Table 58 Asia Pacific Polyurethane Dispersions Market Outlook, By Textile Finishing (2020-2028) ($MN)
- Table 59 Asia Pacific Polyurethane Dispersions Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
- Table 60 Asia Pacific Polyurethane Dispersions Market Outlook, By Fiber Glass Sizing (2020-2028) ($MN)
- Table 61 Asia Pacific Polyurethane Dispersions Market Outlook, By Construction (2020-2028) ($MN)
- Table 62 Asia Pacific Polyurethane Dispersions Market Outlook, By Paper and Ink (2020-2028) ($MN)
- Table 63 Asia Pacific Polyurethane Dispersions Market Outlook, By Automotive Refinishing (2020-2028) ($MN)
- Table 64 Asia Pacific Polyurethane Dispersions Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 65 South America Polyurethane Dispersions Market Outlook, By Country (2020-2028) ($MN)
- Table 66 South America Polyurethane Dispersions Market Outlook, By Type (2020-2028) ($MN)
- Table 67 South America Polyurethane Dispersions Market Outlook, By Low-Solvent (2020-2028) ($MN)
- Table 68 South America Polyurethane Dispersions Market Outlook, By Solvent Based (2020-2028) ($MN)
- Table 69 South America Polyurethane Dispersions Market Outlook, By Water Based (2020-2028) ($MN)
- Table 70 South America Polyurethane Dispersions Market Outlook, By Other Types (2020-2028) ($MN)
- Table 71 South America Polyurethane Dispersions Market Outlook, By Application (2020-2028) ($MN)
- Table 72 South America Polyurethane Dispersions Market Outlook, By Leather Finishing (2020-2028) ($MN)
- Table 73 South America Polyurethane Dispersions Market Outlook, By Paints & Coatings (2020-2028) ($MN)
- Table 74 South America Polyurethane Dispersions Market Outlook, By Textile Finishing (2020-2028) ($MN)
- Table 75 South America Polyurethane Dispersions Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
- Table 76 South America Polyurethane Dispersions Market Outlook, By Fiber Glass Sizing (2020-2028) ($MN)
- Table 77 South America Polyurethane Dispersions Market Outlook, By Construction (2020-2028) ($MN)
- Table 78 South America Polyurethane Dispersions Market Outlook, By Paper and Ink (2020-2028) ($MN)
- Table 79 South America Polyurethane Dispersions Market Outlook, By Automotive Refinishing (2020-2028) ($MN)
- Table 80 South America Polyurethane Dispersions Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 81 Middle East & Africa Polyurethane Dispersions Market Outlook, By Country (2020-2028) ($MN)
- Table 82 Middle East & Africa Polyurethane Dispersions Market Outlook, By Type (2020-2028) ($MN)
- Table 83 Middle East & Africa Polyurethane Dispersions Market Outlook, By Low-Solvent (2020-2028) ($MN)
- Table 84 Middle East & Africa Polyurethane Dispersions Market Outlook, By Solvent Based (2020-2028) ($MN)
- Table 85 Middle East & Africa Polyurethane Dispersions Market Outlook, By Water Based (2020-2028) ($MN)
- Table 86 Middle East & Africa Polyurethane Dispersions Market Outlook, By Other Types (2020-2028) ($MN)
- Table 87 Middle East & Africa Polyurethane Dispersions Market Outlook, By Application (2020-2028) ($MN)
- Table 88 Middle East & Africa Polyurethane Dispersions Market Outlook, By Leather Finishing (2020-2028) ($MN)
- Table 89 Middle East & Africa Polyurethane Dispersions Market Outlook, By Paints & Coatings (2020-2028) ($MN)
- Table 90 Middle East & Africa Polyurethane Dispersions Market Outlook, By Textile Finishing (2020-2028) ($MN)
- Table 91 Middle East & Africa Polyurethane Dispersions Market Outlook, By Adhesives & Sealants (2020-2028) ($MN)
- Table 92 Middle East & Africa Polyurethane Dispersions Market Outlook, By Fiber Glass Sizing (2020-2028) ($MN)
- Table 93 Middle East & Africa Polyurethane Dispersions Market Outlook, By Construction (2020-2028) ($MN)
- Table 94 Middle East & Africa Polyurethane Dispersions Market Outlook, By Paper and Ink (2020-2028) ($MN)
- Table 95 Middle East & Africa Polyurethane Dispersions Market Outlook, By Automotive Refinishing (2020-2028) ($MN)
- Table 96 Middle East & Africa Polyurethane Dispersions Market Outlook, By Other Applications (2020-2028) ($MN)
