Polyurethane Dispersion Market Update, Analysis, Forecast, 2019 – 2025

Asia Pacific is projected to grow with a significant rate in the polyurethane dispersion market owing to rising automotive industry in developing countries such as China, India, and Indonesia. Moreover, low labor cost and manufacturing cost in addition various government favoring policies in the region will encourage the growth of the end-use sectors. For instance, “Make in India” is an Indian government initiative to encourage the manufacturing sector and attract FDI in the country.

This will boost the product demand in the region over the coming years. Moreover, growing footwears & bags industry along with the developments in fashion sector will create demand for leather in the region, and China being the largest producer of leather will bolster the demand for PUD for various leather finishing applications.

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The Polyurethane Dispersion Market is rapidly increasing owing to the rising demand from interior and furniture industries, rising automotive sector, and increasing consumption of leather products among consumers. The leather demand is mainly driven by the fashion & footwear industry along with its use in lucrative luggage bags. Increasing purchasing power along with trending fashion has led to a rise in demand for leather products.

Polyurethane dispersion or PUD possesses exceptional properties such as high tensile strength, extreme temperature durability, high elasticity and high abrasion resistance, that is especially used for coating in wood and leather finishes, PVC & concrete floor tops and textile coatings. These factors will upsurge the demand for polyurethane dispersion in the near future.

Rising automotive industry, predominantly in Asia Pacific and other emerging regions over recent years, contribute to increasing demand for polyurethane dispersion in the production of dashboards (door panels (wood /textile/ABS), foam to PVC/TPO, headliners). Moreover, various government favoring policies with low labor cost and ease of doing business have encouraged the growth of automotive sector in the region, and will propel the polyurethane dispersion market size over coming years. Increasing telecommuters have elevated the demand for furniture’s in home and offices, which will further boost the product use in wood coatings and other applications.

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Fluctuating oil prices may influence the raw materials prices directly which will decrease the profit margin among suppliers and product manufactures. This may hamper the growth of polyurethane dispersion (PUD) for the projected timespan.

On the basis of type, polyurethane dispersion is categorized into two types i.e., water based, and solvent based. Water based PUD are preferred over solvent-based products due to their eco-friendly nature and are predominately used for various applications such as adhesives, graphic arts, textiles, etc. This is mainly because of its low solvent or solvent-free content, low odor, low viscosity at high molecular weights, and low temperature drying. This makes it favorable for various applications such as coatings, adhesives & sealants, leather finishings, etc.

By application, polyurethane dispersion is classified into coating, leather finishing, adhesives & sealants, fiberglass sizing, textile, and other applications that include food packaging, ink, paper coating, etc. PUD is especially used for coating applications, which includes auto coating, decorative coating, wood coating, etc., Moreover, extensive use of PUD in PVC leather and leather finishing applications will propel polyurethane dispersion market size.

On the basis of end-use sector PUD is categorized into automotive, furniture, footwears & bags, textile & printing, pulp & paper and others that includes industrial coating of metal, plastic, wood, paper, masonry surfaces, food, etc. Rising demand from automotive, textile, and footwear & bags industry will propel the polyurethane dispersion market in the coming timeframe.

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Some of the important players in polyurethane dispersion market are Michelman, Inc., The Lubrizol Corp, Mitsui Chemicals Inc., Lamberti S.p.A., Perstorp Holding AB, LANXESS AG, Hauthaway Corporation, Alberdingk Boley GmbH, Chase Corporation, Allnex, Covestro AG, VCM Polyurethanes pvt. ltd, Chemtura Corporation, DowDuPont, Inc., BASF SE, and. Cytec Industries, Inc.

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