Global Polyurethane Dispersions Market Report 2021-2025

 Global Polyurethane Dispersion Market Expected to Reach a Valuation of USD 1,237.4 million by 2023

Global Polyurethane Dispersion Market Anticipated to Grow at an Annual Compound Rate of 6.28%

Booming Demand of the Automotive Industry to Spearhead the Global Polyurethane Dispersion Market

Market Research Future (MRFR) states through its latest publication that the global polyurethane dispersion market valuation will reach USD 1,237.4 million by the end of the forecast period in 2023. Furthermore, the market is expected to grow at a compound annual growth rate of 6.28% between 2015 and 2023.

The growth of the market is primarily influenced by the booming popularity of the automotive industry, increasing consumption of leather-based products, and a strikingly high demand from the furniture and interior industry. The growing disposable income of the consumers alongside the latest trends in fashion have contributed to the proliferating demand for leather products, one which subsequently influences the global market of polyurethane dispersion.

On the other hand, changing prices in oil directly impacts the pricing of raw materials and is most likely slated to hamper the growth of the market. The increasing raw material prices also dampens the profit margin of the manufacturers, which can go on to negatively impact the market growth in the forthcoming years.

Market Segmentation

The global polyurethane dispersion market segmentation is classified on the basis of application, type, and region.

By application, the market includes adhesives & sealants, coatings, fiber glass sizing, leather finishing, paper & textile, and others. The coatings segment accounts for the maximum share of the market. As per the study in 2016, the market held close to 47% of the share and is calculated to grow at a decent CAGR of 6.98% during the forecast period. Major driving factors of the region are the rising production of automobile and the surging demand for personal vehicles in developing nations.

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By type, the market is divided into water-based and solvent-based types. Among the two, the water-based segment is expected to register massive growth during the forecast period due to stringent regulations imposed by the government on the use of solvent-based coatings for varying applications.

By region, the polyurethane dispersion market covers Latin America, Asia Pacific, Europe, the Middle East & Africa, and North America.

Regional Analysis

The Asia Pacific region is identified by MRFR as the leader in the global polyurethane dispersion market during the forecast period. The dominant position of the regional market back in 2016 was driven by the booming growth of various industries, namely the construction, automotive, and leather finishing sectors. As per the 2016 market evaluation, the Asia Pacific region held 37% of the overall share. In the current forecast period, the region is expected to continue its proliferating growth at a CAGR of 6.59% with a projected valuation slated to reach USD 467.2 million. With the continued growth of the construction and automotive industry, major economies in this region like India, Japan, and China will be witnessing increasing market share and overall contribution.

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Following the Asia Pacific region, the European region held the maximum share with around 26% of it under its name as per the research undertaken in 2016. The regional market is expected to grow further during the forecast period due to the presence of major contributory nations like Italy, France, Germany, and the UK. The robust and expanding manufacturing base for the automobile sector is a major driver of the European regional market.

Aside from these regions, developed and established regions like North America and Latin America are expected to garner decent growth during the forecast period due to the rising production volume of passenger vehicles, demand, and sales in this region. Lastly, the Middle Eastern and African region is anticipated to experience healthy growth owing to the burgeoning construction-related activities undertaken in countries like the UAE, Saudi Arabia, and Turkey.

Competitive Landscape

The global polyurethane dispersion market includes number of key players, including Alberdingk Boley GmbH, Perstorp Holding AB, The Lubrizol Corporation, LANXESS AG, Chase Corporation, Lamberti S.p.A., Mitsui Chemicals Inc., VCM Polyurethanes PVT. Ltd., Michelman, Inc., DowDuPont, Inc., allnex, Hauthaway Corporation, Covestro AG, BASF SE, and 3M.

August 7^th, 2018, The Lubrizol Corporation, a specialty chemical provider, announced the commercial availability of its new offering, named Aptalon(TM) W8030 self-matting polyurethane dispersion.