Polyurethane Dispersion Market Trends, Growth & Forecast (2022- 2027)
The polyurethane Dispersion Market Size is estimated to grow from USD 4.4 Billion in 2021 to USD 6.3 Billion by 2026
HYDERABAD, TELANGANA, INDIA, August 23, 2022 /EINPresswire.com/ — The polyurethane Dispersion Market Size is estimated to grow from USD 4.4 Billion in 2021 to USD 6.3 Billion by 2026, at a compound annual growth rate of 9.2% over the outlook period.
The polyurethane dispersion market is expanding quickly due to rising demand from the interior design and furniture industries, the expanding automotive industry, and increasing consumer demand for leather goods. Other key drivers of leather demand are the fashion and footwear industries. Demand for leather goods has increased due to rising purchasing power and popular fashion. In particular, Polyurethane Dispersion is utilized for coating wood and leather finishes, PVC & concrete floor tops, and textile coatings. It possesses extraordinary features such as high tensile strength, elasticity, extreme temperature endurance, and abrasion resistance. These factors will cause a rise in polyurethane dispersion demand shortly.
With the automotive sector growing most rapidly in Asia and other emerging regions, the demand for polyurethane dispersion in the manufacture of dashboards (door panels, foam to PVC/TPO, headliners) has increased in recent years. The growth of the automotive sector in the region has also been supported by several government regulations that favour cheap labour costs and provides ease of doing business, which will increase the size of the polyurethane dispersion market over the years. The number of telecommuters has increased the demand for furniture in homes and companies, which will increase the usage of the product in wood treatments and other applications.
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The global polyurethane dispersion market segmentation
• Low Solvent
The market is divided into Low Solvent and Solvent-free categories based on type. Numerous commercial and industrial applications use water-based polyurethane dispersion. The need for water-based polyurethane dispersion is anticipated to increase due to rising laws ensuring minimal VOC emissions. VOC emissions are reduced by water-based paint. The demand for water-based PUDs is growing due to strict environmental rules on solvent-based PUDs.
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• Paints & Coatings
• Adhesive & Sealants
• Fibre Finishing
• Textile Finishing
The market is divided into applications: Paints & Coatings, Adhesives & Sealants, Fiber Finishing, Textile Finishing, and Others. Paints and coatings are predicted to expand quickly during the foreseeable period due to technological developments for environmental safety. During the anticipated period, the market is expected to grow due to technological improvements that are in line with rules designed to ensure environmental sustainability.
• Footwear and Bags
• Textile & Printing
• Pulp & Paper
Based on End-user, the polyurethane dispersion market is divided into automotive, furniture, footwear and bags, textile and printing, pulp and paper and others. During the forecasted period, it is predicted that the expanding automobile industry would increase the demand for polyurethane dispersions because of its various benefits, including superior chemical, solvent, abrasion, scratch, flexibility, and adhesion resistance. Polyurethane dispersions are frequently utilized in the automobile sector for car refinishing paints.
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During the projected period, the polyurethane dispersion market in Asia-Pacific will be the largest. Growing industrial activity, rising consumer and infrastructure spending, and robust economic expansion – will all contribute to the demand in the APAC region. Asia-Pacific was the most promising market in 2019, which is anticipated to hold throughout the projected period. The regions’s growth can be attributed to the rise in population, disposable income, increasing industrialization, and greater urbanization. The APAC region’s largest polyurethane dispersion market is China. Foreign businesses have invested in China because of its favourable market conditions, which include low production costs, technological advancement, lax government regulations, and accessibility to inexpensive labour. These elements create ideal conditions for the growth of the nation’s construction, automobile, and other industries.
Europe’s polyurethane dispersions market will expand significantly between 2022 and 2027 due to the existence of well-established automobile manufacturers there. One of the world’s top regions for producing cars in Europe. The growing demand for electric and driverless vehicles, as well as the expansion of the automotive industry, will present profitable prospects for local manufacturers. Moreover, the consumer desire for high-end leather goods, such as purses and shoes, will also increase substance demand. Due to rising consumer interest in aesthetically pleasing interior design options, furniture applications may also capture a sizeable portion of the local market.
Developed areas like North America and Latin America are predicted to have growth that is above average throughout the outlook period due to the increase in the production and sales of passenger cars in these countries. The ongoing expansion of the aerospace and defence industries, and the high acceptance rate for coatings applications, are anticipated to drive regional market expansion. Due to the increase in construction activity in developing nations like the UAE, Turkey, and Saudi Arabia, the middle east and African countries are expected to experience robust growth.
Latest Industry Developments:
• New Polyurethane Dispersion launched by Allnex
• DAOTAN 7061/35WA is launched by allnex. This polyurethane dispersion was created for the vehicle market refinish coatings and automotive OEM.
• Polyurethane dispersion improvements are available from Covestro.
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