DUBLIN--(BUSINESS WIRE)--The "Polyurethane Dispersion Market by Type (Low Solvent, Solvent-Free), Application (Paints & Coating, Adhesive & Sealants, Leather Finishing, Textile Finishing), And Region (North America, Europe, Asia Pacific, MEA, SA) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Polyurethane Dispersion (PUDs) Market Size is Expected to Grow from USD2.4 Billion in 2019 to USD3.4 Billion by 2024, at a CAGR of 7.1%
Increasing demand from automobile, textile and leather industries to drive the overall growth of polyurethane dispersion market
The PUDs market is driven by various factors, such as high demand from the textile & leather industry, and increasing usage in paints & coatings application. The growth of these industries is anticipated to further propel the growth of the market over the forecast period. However, fluctuating raw material prices are likely to hinder the growth of the market.
Solvent-free polyurethane dispersions to drive the global market during the forecast period
The polyurethane dispersion market has been segmented based on types into solvent-free and low solvent systems. Among these types, the solvent-free segment accounted for the largest share of the market in 2018 and is likely to witness significant growth over the forecast period. The growth in this segment is attributed to its increasing in various applications such as paints & coatings due to its excellent mechanical & physical properties and low VOC content. These factors are expected to drive demand during the forecast period.
Paints & coatings segment expected to hold the largest market share during the forecast period
Paints & coatings application is growing rapidly owing to the rising demand for PUD-based coatings in automotive and construction on account of its excellent abrasion resistance and low VOC content. Furthermore, PUD-based paints & coatings exhibit exceptional crosslinking properties, which helps in preventing water and chemical from reaching the substrate. These factors are expected to drive the demand for polyurethane in paints & coatings application.
APAC is expected to record the highest growth rate during the forecast period
APAC is expected to have the highest growth rate during the forecast period, due to the increasing usage of polyurethane dispersion in various end-use applications such as paints & coatings, and adhesive & sealants which are consumed in massive quantities by the automotive and construction industries. China, India, Japan, and South Korea provide enormous opportunities for the polyurethane dispersion market due to the presence of a large manufacturing sector. On the other hand, North America is projected to hold the second-largest market size during the forecast period.
- High Potential Demand From the Textile and Leather Industries
- Growth in the Furniture and Interiors Industries
- Fluctuating Prices of Raw Materials
- Booming Demand for Water-Based Polyurethane Systems
- Government Regulations Regarding Environmentally Friendly Products
- Manufacturing Sustainable Products With Low VOCs
- Adeka Corporation
- Alberdingk Boley GmbH
- Base SE
- Bond Polymers
- Chase Corporation
- Covestro AG
- Cytec Solvay Group
- DIC Corporation
- Hauthway Corporation
- Huntsman Corporation
- Lamberti Spa
- Lanxess AG
- Lubrizol Corporation
- Mitsui Chemicals Inc
- Rudolf GmbH
- Sanyo Chemical Industries, Ltd
- Stahl Holding BV
- VCM Polyurethanes Pvt Ltd
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