The global PolyurethaneDispersion (PUD) Market size is expected to value at USD 1.6 billion by 2022. The market is subject to witness a substantial growth due to the robust growth in various verticals such as buildings & construction industry, automotive sector, packaging industry, textile and leather industry. Rising demand for leather and textile products from Asia Pacific and North America region are expected to augment market demand for polyurethane dispersion (PUD) over the next seven years. Globally, the polyurethane dispersion (PUD) market is predicted to grow at CAGR of 5.9% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Rapid
growth of automotive sector in the Asia Pacific and South-Central America
region is one of the major contributing growth factor. Increase in
manufacturing of vehicles owing to lower manufacturing cost are anticipated to
fuel market demand for polyurethane dispersion (PUD) products. Favorable government
initiatives and policies to promote use of polyurethane dispersion (PUD) are
expected to offer lucrative growth opportunities for industry participants in
the upcoming years. Recent technological advancements in the automotive
industry coupled with development of innovative products such as waterborne
polyurethane dispersion (PUD) and hot melts coating are anticipated to foster
the market growth.
Waterborne
polyurethane dispersions (PUDs) coatings and adhesives are water soluble in the
nature are commonly preferred over solvent-based polyurethane dispersion (PUD)
adhesives due to their eco-friendly nature. Stringent laws & regulation
associated with the use of volatile organic compounds (VOCs) that generates
hazardous air pollutants (HAPs) are expected to drive the market demand for
polyurethane dispersions (PUDs) coatings and adhesives for various industrial
as well as commercial applications.
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Polyurethane
dispersions (PUDs) coatings and adhesives exhibit properties such as stability,
flexibility, easy to use and solubility. Development of ambient-cured (air
dried) or baked coatings that are highly flexible with rigid substrates, which
are used for production of flooring elements, fabric, leather, metal, plastics
and paper. These factors are anticipated to stimulate the growth of
polyurethane dispersion (PUD) industry over the forecast period. In addition,
polyurethane dispersions (PUDs) are commonly used as graphic art inks,
adhesives for shoes and textiles and leather coats. Methylene diphenyl di-isocyanate
(MDI), Toluene di-isocyanate (TDI) and polyols are raw materials that are used
for manufacturing polyurethane dispersions (PUDs). Volatility in the cost of
raw material prices is considered as one of the major challenge faced by
polyurethane dispersion market, in the recent years.
The
polyurethane dispersion (PUD) industry is broadly categorized into two major
segments based on the product type such as water based polyurethane dispersion
(PUD) adhesives and solvent-based polyurethane dispersion (PUD) adhesives. The
water-based polyurethane dispersion (PUD) adhesives is considered as one of the
fastest growing segment in the PUD market with substantial revenue generation
in the last few years.
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Growing
popularity of the water based polyurethane dispersion (PUD) adhesives segment
is attributed to the favorable regulatory norms and rising consummation. The
solvent-based polyurethane dispersion (PUD) adhesives segment has witnessed a
steady growth due to the increase in consummation of water-based polyurethane
dispersion (PUD) adhesives due to their eco-friendly nature.
The
PUD industry is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in the buildings &
construction industry, automotive sector, and packaging industry, and existence
of well-established infrastructure. Asia-Pacific region is predicted to hold
major market share in the polyurethane dispersion (PUD) with massive growth in
forecast period.
Countries
such as India, China and Singapore are leading the Asia-Pacific market with
strong economic growth in the region, rapid urbanization, substantial growth in
various end-user industries, and significant investment by leading industry
players considering potential growth opportunities in the region.
The
key players in the polyurethane dispersion industry are Alberdingk Boley, Inc.,
BASF S.E., Cytec Industries, Inc., Covestro, Chemtura Co., Dow Chemical Company
Pvt., Ltd., Hauthaway Co., Mitsui Chemicals, Inc., and Lubrizol Co.
Market
Segment:
PUD
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Water-based dispersions
• Solvent-based dispersions
PUD
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Textile Finishing
• Natural Leather Finishing
• Synthetic Leather
• Others
PUD
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa
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