Polyurethane Dispersions Market to experience an impressive growth of 9% during 2020-2025
February 03, 2020
Polyurethane dispersions market is likely to witness an impressive CAGR of 9% during the forecast period. Surge in demand and production of automotive, expanding construction industry after subprime and Euro-debt crises, high prospects from textile and leather industry, and expanding range of applications are the prime factors that are driving the growth of the global polyurethane dispersions market.
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Polyurethane Dispersions Market Segment Insights:
By Type:
Based on the type, the market is segmented as water-based polyurethane dispersions and solvent-based polyurethane dispersions. The water-based polyurethane dispersions segment is estimated to be the larger and faster-growing segment in the coming five years. Moreover, water-based polyurethane dispersions are versatile and environmentally friendly coating materials that are employed in an extensive range of film hardness and solid content. They do not contain free isocyanate residuals and deliver high-blocking resistance, weather resistance, long-term flexibility, UV resistance, and high abrasion resistance.
By Application Type:
Based on the application type, the market is segmented as coatings, adhesives & sealants, synthetic leather production, fiber glass sizing, and others. The synthetic leather production segment is estimated to be the fastest-growing application during the forecast period. This growth is attributed to the major industrial manufacturers who are employing synthetic leather in footwear, handbags, apparels, automotive, interior, and other sectors. Further, PUD synthetic leather offers low volatile organic compound and has environmental friendliness. High-solid polyurethane dispersions enable it to economically yield synthetic leather without the usage of solvents. Thus, the increasing production of synthetic leather demands for high amount of polyurethane dispersions which ultimately bolsters the PUDs market for this application.
By Region:
In terms of regions, Asia-Pacific is the largest market for polyurethane dispersions and it is also expected to witness the highest growth during the forecast period. China and India are the growth engines of the region. The market is driven by the growing demand from various end-use industries, such as coatings, leather production, and adhesives in the region. Rapid development in infrastructure and rising demand for coatings and adhesives in various end-use industries, such as automobile, textile, and leather are anticipated to drive the PUDs market in this region during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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- Attractive market segments and associated growth opportunities
- Emerging trends
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- Key success factors
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