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Polyurethane Dispersions Market size is set to enter growth phase driven by high demand for paints & coatings as well as adhesives and sealants. The rising CAGR of the latter markets drive the polyurethane dispersions market growth to grow at 6.86% CAGR between 2019 and 2025. In addition, high investments in automotive and chemical manufacturing industries are escalating the polyurethane dispersions market value.
Further, polyurethane dispersions market value is reaching niche levels driven by high demand from interior and furniture industries as well as growing consumption of leather products. Accordingly, key market players are investing to provide innovative product line to serve customers across these end-users. For example, major producer of coatings raw materials, Bayer MaterialScience LLC developed a one-component (1K) thermal-cure polyurethane coating to address the requirements of glass decorators.
The growing demand for abrasion resistance and low VOC content coatings from automotive OEMs and construction sectors is observed to contribute to macro market share for paint and coating application segment of polyurethane dispersions market.
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In addition, PUD-based paints & coatings demonstrate exceptional cross-linking properties with potential to prevent water and chemical from reaching the substrate. These are the factors that are likely to propel the demand for polyurethane in paints & coatings application.
However, shifting preferences and new regulations are impacting the polyurethane dispersions market growth during the forecast period. Key OEMS are required to update their technology to meet the demand for environmentally friendly PUDs.
Solvent-free polyurethane dispersions to drive the global market during the forecast period
Amidst the key types, solvent-free polyurethane dispersions, and low-solvent polyurethane dispersions, the solvent-free polyurethane dispersions segment is set to project major market share driven by high consumption from a wide range of applications from glass fiber and plastic coatings to vehicle paintwork.
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Accordingly, key OEMs are investing in expanding product portfolio to offer consumers solvent-free polyurethane dispersions (PUD) across the manufacturing sector. For example, in 2019, LANXESS introduced an extensive product portfolio which includes a wide range of special polyurethane dispersions for coating systems which are solvent-free and low-monomer.
Polyurethane dispersion market is set to emerge as a prominent sector across Asia Pacific and imprints market growth opportunities during the forecast period
The polyurethane dispersion market growth across Asia Pacific is driven by a large consumption of polyurethane dispersions across various end-user applications. Accordingly, emergence of construction activities and automotive production across Asian countries drives the paints and coatings market demand which results in lucrative polyurethane dispersion market growth.
In addition, adhesive & sealants which are consumed in massive quantities by the automotive and construction OEMs triggers the polyurethane dispersion market demand and growth.
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Among key contributors of market share, China, India, Japan, and South Korea provide enormous opportunities for the polyurethane dispersion market due to the presence of a large PUDs manufacturing sector.
Whereas, the polyurethane dispersions market growth remains strong across Europe and other developed economies driven by presence of lucrative key end-users as well as active key market producers and suppliers. For example, Covestro AG, a prominent polyurethane dispersions market player have recently started the production of aqueous polyurethane dispersions (PUDs) in Germany.
Enhancing production capacity and product portfolio is observed across key polyurethane dispersions market players during the forecast period
Major market players are focusing on the expansion of production capabilities to strengthen their market which contributes to lucrative market growth. For example, in 2018, Huntsman Corporation today announced plans to build a new polyurethane systems house in the Middle East to increase the company’s systems production capacity in the region.
Further, key players are investing to develop polyurethane dispersion products to serve textile and clothing end-user consumers with increased functionality and comfort. For instance, in 2018, Covestro developed polyurethane dispersion products Impraperm DL 5249 and Impraperm DL 5310 which enhances the performance of outdoor sportswear and enables effective waterproof and breathable coating of textiles using waterborne technology.
Prominent players contributing to major market share comprise Base SE, Mitsui Chemicals Inc., DOW, Huntsman Corporation, Covestro AG, Cytec Solvay Group, Lubrizol Corporation, Lanxess AG, Perstorp, and Chase Corporation.
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