Polyurethane Dispersions Market

Polyurethane Dispersions Market Size (2023-2028):

The Polyurethane Dispersions Market was valued at US$ 2.02 Billion in 2022 and is anticipated to increase to US$ 2.99 Billion by 2028, with a growing CAGR of 7.02 % in the next six years.

Polyurethane dispersion (PUD) is a polyurethane polymer resin that is dispersed in water rather than a solvent. Polyurethanes with carboxylic acid functionalities or nonionic hydrophiles like PEG inserted into or pendant from the polymer backbone are used in its production. PUD refers to polyurethane dispersion, which is an aqueous and anionic dispersion with a high molecular weight that may be made from aromatic or aliphatic isocyanate and can be made with or without emulsifiers. It has exceptional qualities such as strong abrasion resistance, great tensile strength, and high elasticity, making it suitable for use in wood finishes and leather, PVC and concrete floor coverings, and textile coatings. Nevertheless, they are of superior quality and the blend is perfect with the inherent qualities of wood, as well as being suitable for use as polyurethane coating for the wood application.

Polyurethane Dispersions Market Drivers:

The worldwide polyurethane dispersions market is being driven by a boost in automotive demand and production, a growing construction sector following the subprime and Euro-debt crises, strong prospects from the textile and leather industries, and a rising range of applications.

An important industry driving the global expansion of PUDs is the leather industry. PUDs are being used to polish leather's surface. Their use in the production of synthetic leather is increasing. The increased use of leather in the production of footwear, handbags, seat coverings, garments, and other goods is experiencing growth as well as Demand for leather items has increased as a result of rising buying power and current fashion trends. Because of expanding demand from the interior and furniture sectors, the growing automotive industry, and rising consumer desire for leather items, the Global Polyurethane Dispersion Market is experiencing exponential growth. PUD (polyurethane dispersion) is a coating that has excellent features such as high tensile strength, elasticity, severe temperature resilience, and high abrasion resistance. It is commonly used in wood and leather finishes, PVC and concrete floor tops, and textile coatings. In the foreseeable future, these factors will increase the demand for polyurethane dispersion.

Polyurethane Dispersions Market Restraints:

The restraining factor that restricts the growth of the global polyurethane dispersion market is incrementing demand for acid-epoxy coatings. As in the coating industry, PUDs play a significant role. The quantity of volatile organic compounds (VOCs) in polyurethane coatings, on the other hand, is a major source of worry for the coatings business. To lessen the harmful impacts on the environment and health, raw material suppliers must fund significantly in R&D to create better technologies and fulfill the "zero-VOC" objective.  Acid-epoxy adhesives are becoming increasingly popular as a solution to these problems. These epoxy-based coatings are phenolic resin-based coating systems that are solvent-free and developed for a long-lasting, smooth finish on floors, walls, and steel structures.

POLYURETHANE DISPERSIONS MARKET REPORT COVERAGE:

Market Segmentation:

Polyurethane Dispersions Market By Type:

• Low Solvent

• Solvent-free

The solvent-free segment dominates the global polyurethane dispersions market. Paints and coatings, adhesives and sealants, textile finishing, leather finishing, and other applications all incorporate solvent-free polyurethane dispersions and so on. Water-based polyurethane dispersions are used in a variety of industrial and commercial applications. Their rising popularity can be ascribed to their minimal environmental effect. Solvent-free PUDs have a low VOC content and are considered eco-friendly and user-friendly. They're gentler on delicate substrates that can be harmed by solvents. Water-based PUDs are in great demand because to strict environmental restrictions prohibiting the use of solvent-based PUDs.

Polyurethane Dispersions Market By Application:

• Paints & Coatings
• Adhesive & Sealants
• Fiber Finishing
• Textile Finishing
• Others

Because of technical developments for environmental safety, paints, and coatings are predicted to develop the fastest throughout the projected timeframe. Because of its environmental effect, the paints and coatings business is among the most tightly regulated sectors. Paints and coatings must be applied in accordance with air quality rules, as well as the corrosiveness of the surface on which they are applied. Traditional liquid coatings are being phased out in favor of water-based alternatives. Market growth is expected to be boosted by technological improvements that are in line with legislation aimed at ensuring environmental sustainability.

The Polyurethane Dispersions Market Report includes the segmentation of Regions:

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa 

In Asia-Pacific, during the projection period, the PUDs market will be the biggest. growing industrial operations, rising consumer and infrastructure expenditure, and solid economic growth are driving demand in APAC. Polyurethane dispersions are in great demand as coatings and additives in several production industries across the area, thanks to the market. The PUDs area in the region is being driven by a rising population, higher disposable income, fast industrialization, and growing urbanization. China accounted for the larger share in the APAC region for PUDs. Low manufacturing costs, technical advancement, flexible government restrictions, and the availability of inexpensive labor have all enticed global businesses to invest in China. These elements create ideal circumstances for the country's automotive, construction, and other sectors to thrive. As a result, the market for PUDs sees an increase in demand.

In North America, due to the increasingly widespread use of these chemicals in the region's automobile and construction industries, the region is predicted to expand at a rapid rate. Due to end-use sector saturation, North American markets are expected to increase at a modest pace, as major key players originated from Northern America.

The Europe region is anticipated to grow at a moderate level and help in the development of the global polyurethane dispersion market.

Recent Developments:

27^th September 2021: BASF & Sanyo Chemical Industries Ltd. (Sanyo Chemical) have agreed to collaborate on the development of PUDs in a strategic way. The two parties want to work together to develop and create new goods with a strong focus on sustainability. Because of the two firms' global industrial footprint, newly created technology and goods will have access to a global market so that they also seek long-term solutions in order to be consistent with local requirements or achieve their corporate social responsibility objectives. This partnership will help both parties to minimize the time it takes to bring innovative technologies to market and speed up the transition to water-based systems.

6^th January 2021: DAOTAN 7061/35WA has been released by Allnex. Polyurethane dispersion was created for the OEM and refinish coating industries in the automobile industry. The adaptability and superior performance of the 7061 add value to the Allnex polyurethane dispersion range in a variety of applications, including automotive interior and exterior primers, waterborne automotive and refinish basecoats, and general industrial applications.

23^rd January 2020: At its Castellbisbal location in Spain, BASF announced a low-single-digit million euro investment in expanding capacity for water-based polyurethane dispersions. BASF will be able to boost its manufacturing capacity by 30% as a result of the development. as Polyurethane dispersions are a significant expansion of the acrylate dispersions market. BASF is contributing to the transition from solvent-based coating systems to ecologically friendly and more sustainable water-based systems by increasing its range in the fields including parquet flooring, adhesives, automotive, and industrial coatings.

Impact of COVID-19 (Polyurethane Dispersions Market):

COVID-19 has had a major economic influence on a number of financial and industrial sectors, including manufacturing, travel and tourism, and aviation. Economic activity is diminishing as a result of an increasing number of nations implementing and prolonging lockdowns, which has an influence on the global economy. Infrastructure works have come to a standstill as a result of the country-wide lockdowns, resulting in a major labor shortage. As a result, the construction industry's need for polyurethane dispersion has plummeted. On the other hand, because of the pandemic's worldwide economic downturn, global demand for automobiles has declined dramatically. In the automobile industry, this has resulted in a major reduction in the use of polyurethane dispersion. During an economic recession, PUD demand from this industry is likely to be low to medium.

Polyurethane Dispersions Market Key Players:

• Bayer

• DSM

• Chemtura

• Lubrizol

• BASF

• Alberdingk Boley

• Hauthaway

• Stahl

• Mitsui

• UBE