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    Polyurethane Dispersions Market Size Forecast to Reach $ 2.8 Billion by 2027
    (I-BusinessNews.Com, April 11, 2022 ) Polyurethane Dispersions Market size is forecast to reach $ 2.8 billion by 2027, after growing at a CAGR of 7.2% during 2022-2027. PUD stands for polyurethane dispersion, which is a polyurethane polymer resin distributed in water rather than a solvent. The growth of the market is due to rising demand from textile, leather coatings, automotive sector, paint & coatings, and others. The demand for leather products is mainly driven by consumer goods as leather is used to manufacture footwear, handbags, and others which are estimated to drive the consumption of polyurethane dispersions. Water-based polyurethane dispersion consists of a low volatile organic compound; thus, these are widely used in the automotive industry for paints. As dimethylol propionic acid is commonly utilised in aqueous urethane dispersions to give high gloss waterborne coatings with outstanding flexibility and durability, and it is employed in the manufacturing and processing of water-soluble resins. According to the International Organization of Motor Vehicle Production (OICA), automotive production in Spain (passenger cars and commercial vehicles) increased to 2822355 units in 2019 compared to 2819565 in 2018 which created demand for paint and coatings, in turn, is increased the market size.

    Polyurethane Dispersions Market Segment Analysis – By Type

    Water-based segment type held the largest share of the global polyurethane dispersion industry in 2021. Water-based polyurethane dispersions are versatile and environmentally friendly materials that are available in a wide range of hardness and solid content. Their versatility and wide range of superior properties, such as abrasion resistance, impact strength, and low-temperature flexibility are the driving forces to their continuously expanding usage in many applications. Water-based polyurethane dispersion is free from isocyanate residues and has a low volatile organic compound which is expected to project market growth.

    Polyurethane Dispersions Market Segment Analysis – By Application

    Paints and coatings held the largest share of the global polyurethane dispersion in 2021 and are growing at a CAGR of 7.4% during 2022-2027. Polyurethane dispersions are used in paints due to low volatile organic compound emission, excellent durability, high abrasion resistance, and absence of harmful monomers. Hence, the increasing automotive production is estimated to grow the demand for paints which, in turn, is estimated to boost the polyurethane dispersions consumption. According to the European Automobile Manufacturer Association (ACEA), the automotive sector is a major investor in R&D in Europe, which has increased by 6.7% to reach €57.4 billion (US$ 64.25 billion) annually as of 2019. Additionally, polyurethane dispersion consists of low volatile organic compounds and environment-friendly nature which is projected to grow the market scenario during the era.

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    Polyurethane Dispersions Market Segment Analysis – By Geography

    Asia Pacific dominated the market of polyurethane dispersions market in 2021 above 30%, due to growing demand from various industries such as paint & coatings, automotive, adhesives & sealants, leather and textiles, construction, and others in Asian countries. Polyurethane dispersion is used as raw material to manufacture synthetic leather and footwear. Therefore, the increasing footwear industry is estimated to boost the market. According to the Council on leather Exports (CLC), India is the second-largest global producer of footwear after China, accounting for 11.63% of global footwear production of 17.7 billion pairs. Also. The growing development in the adhesive industry is also estimated to create an opportunity for the market. Pidilite Industries acquired India’s Huntsman Group’s subsidiary for Rs. 2,100 crores (US$ 283.38 million). This acquisition is increasing the retail portfolio of adhesives and sealants in Asian countries. furthermore, growing demand for more comfort and trending lifestyle are accelerating the demand for footwear which, in turn, is estimated to propel the polyurethane dispersions market.

    Polyurethane Dispersions Market Drivers

    Increasing Demand from Textile and Leather Industry

    Polyurethane dispersions are widely used in textile and leather finishing as they offer excellent tensile strength, extreme temperatures durability, high elasticity, and high abrasion resistance. Thus, the rising consumption of leather in the manufacturing of handbags, footwear, seat covers, apparel, and other products is estimated to grow the consumption of polyurethane dispersions. Hence increasing demand for leather products is estimated to boost the demand for polyurethane dispersions. 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. Additionally, according to the India Brand Equity Foundation (IBEF), India is the world’s second-largest consumer of footwear. The leather products and footwear market in India are estimated to be about USD 12 billion in 2021. Hence, increasing demand for footwear is estimated to grow the leather market which, in turn, is estimated to boost the market size.

    Growing Demand from Automotive Industry

    Polyurethane dispersions are widely used in the automotive industry for car refinishing paints due to various properties such as excellent chemical, solvent, abrasion, scratch resistance, flexibility, and adhesion. Hence, the growing automotive industry is estimated to boost the consumption of polyurethane dispersions. The Chinese government expects the production of automobiles to reach 35 million units by 2025, according to the International Trade Administration (ITA). Therefore, according to the International organization of Vehicle Motor Manufacturers (OICA), in China commercial vehicle production increased by 31.4% to 5731161 units in 2020 as compared to 4360472 units in 2019. In 2017, the Australian market sold 1.2 million new passenger cars, SUVs, and commercial vehicles, an increase of 0.9 % from 2016. Light commercial vehicle production has increased from 2,249,348 in 2018 to 2,254,153 in 2019, according to OICA, an increase of 0.2 % in Europe. Additionally, according to the Federation of Automobile Dealers Associations (FADA), in India sales of passenger vehicles increased to 2,91,001 units in November 2020, compared with 2,79,365 units in November 2019. Hence, the growing automotive production is expected to grow the polyurethane dispersions market.

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    Polyurethane Dispersions Market Challenges

    Fluctuation in raw material prices

    Polyols are used as raw materials for manufacturing polyurethane dispersions that are derived from crude oil. Thus, the fluctuations in the prices of crude oil affect the prices of polyols, which are hampering the production of polyurethane dispersions. According to BP Statics, oil prices declined to US$64.21/bbl in 2019 as compared with US$71.31/bbl in 2018. Additionally, the Brent oil price has fallen by US$41.84/bbl in 2020 as compared to the previous year. Hence, the price fluctuation may hamper the polyurethane dispersions market growth during the projected era.

    Polyurethane Dispersions Industry Outlook

    Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Polyurethane Dispersion Market. Major players in the Polyurethane Dispersion Market are

    Dow Chemical Company


    Mitsui Chemical Inc.

    Covestro AG

    Huntsman Corporation

    Lubrizol Corporation

    Cytec Solvay Group

    Perstorp AB

    Chase Corporation

    Lanxess AG

    Lamberti SPA

    Rudolf GMBH

    Alberdingk Boley GmbH

    Recent 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 January 2020, BASF announced an investment of their polyurethane dispersion business in Spain (Europe). This investment increased the production capacity of water-based polyurethane dispersions by 30%.

    Key Takeaways

    Asia-Pacific dominated the polyurethane dispersions market due to rapid growth in the automotive sector as well as leather, textile, and others industries in developing and emerging Asian countries.

    Increasing implementation of various stringent environmental regulations on reduction of high volatile organic compound (VOC) emissions is driving the market demand of polyurethane dispersions market.

    Local Air Quality Regulators and Environmental Protection Agency (EPA) are continuously assessing the number of VOCs released from paints & coatings, leather, and textile industries. Thus, the imposition of regulations is providing new opportunities for polyurethane dispersion.

    However, the volatility of crude oil prices may hamper the market growth. Polyols are a petrochemical product that is used to manufacture polyurethane dispersions.

    Relevant Reports

    A. Polyurethanes Market

    B. Polyurethane Adhesives Market

    For more Chemicals and Materials Market reports, please click here

    About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to to discuss more about our consulting services.


    Venkat Reddy

    (+1) 970-236-3677

    Source: EmailWire.Com


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