Market Synopsis: Global Polyurethane Dispersions Market
Rise in adoption of polyurethane owing to the increasing demand from interior and furniture industries, automotive industry, and rising consumption of leather and textile products among consumers. The leather demand is mainly driven by the footwear and fashion industry, along with increasing purchasing power of consumers. In addition, rising automotive industry contribute to increase demand for polyurethane dispersion in the production of dashboards, door panels, and headliners. Moreover, growing demand for polyurethane dispersions is due to increasing construction, industrialization, and infrastructure activities across the globe. The uncertain situation due to the coronavirus may affect the trend of the global polyurethane dispersions market in the next few years. The global polyurethane dispersions market is expected to register steady growth during the forecast period, 2022-2030.
Impact of Covid-19 pandemic on market
COVID-19 crisis impacted manufacturers involved in various industries and obstructed the entire supply chain, from raw materials to end product delivery. Moreover, government and policymakers are mostly engaged in handling and controlling the medical crisis to meet a healthy and safe environment for the nation’s population. The lack of understanding to manage economic risks and the business sector is expected to put the economic and industrial growth towards vulnerability. The report will include the impact of COVID-19 on the target market in detail.
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Market Dynamics: Global Polyurethane Dispersions Market
Rising adoption of polyurethane dispersion in textile and leather products due to its increasing demand in fashion industry as well as daily-life boost the growth of the market. Moreover, imposition of stringent environment regulations to ensure low VOC emission are some of the major factor which projected to drive the global polyurethane dispersion market over the forecast period.
MDI, TDI, and Polyols are the major raw material required for the polyurethane dispersion manufacturing. Fluctuating the crude oil prices may influence the raw material prices and the any change in cost of raw material directly decrease the profit margin among the product manufacture and suppliers. This may hinder the growth of the polyurethane dispersion market over estimated period.
Various solvents such as NEP, NMP, and DMSO which are used in the manufacturing of dispersions increase VOC emissions. These solvents cannot be easily removed by distillation and toxicity of such solvents affects the environment greatly. The market player has a great opportunity as the formulation and imposition of stringent environment regulations related to emission by several authorities of various economies across the world.
Market Segmentation: Global Polyurethane Dispersions Market
The global polyurethane dispersions market is segmented based on type, application, and regions.
The global polyurethane dispersions market is segmented based on the type as solvent based polyurethane dispersion, and water based polyurethane dispersion. Water based PUD is projected to grow with higher CAGR owing widely used in various applications, includes adhesives & sealants, leather finishing, paints & coatings, textile finishing and others applications. Rising the use can attributed to their low impact on the environment, as they contain low amount of VOC and considered as environment and user-friendly.
Based on the application, the global polyurethane dispersions market is segmented into textile finishing, leather finishing, paints and coatings, adhesives and sealants, and other application. Polyurethane dispersions is majorly used for coating applications, such as decorative coating, auto coating, wood coating and many more. In results, the paints and coatings segment dominating the global polyurethane dispersion market over the forecast period. Moreover, increasing the use of PUD in leather finishing application will helps to propel the polyurethane dispersion market size.
Regional Overview: Global Polyurethane Dispersions Market
In the region, the global polyurethane dispersions market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominating the global polyurethane dispersions market due to major sales of automotive in developing nations such as India, China, and Indonesia. Besides, increase the number of automotive manufacturing industries, entry of foreign automaker in emerging nations such as India and China are driving the market during the forecast period. Moreover, rising the fashion sector in this region, increases the demand of foot-wears and bags industries boost the growth of the polyurethane dispersion market during the forecast period.
Competitive Landscape: Global Polyurethane Dispersions Market
The key players operating in the global Polyurethane Dispersions market include Alberdingk Boley, Inc., Bayer Material Science, Mitsui Chemicals Inc., BASF SE, Chemtura Corporation, Lubrizol Corporation, Covestro AG, Cytec Industries Inc., The Dow Chemical Company, Hauthaway Corporation, Lanxess, Stahl Holding, DSM, Wanhua Chemical Group, Perstorp, Huntsman Corporation and other players.
Investment in new product categories with a differentiated pricing strategy enables the manufactures to lure new customers and gain prominent market share in the various product category. Moreover, the industrial giants are building a strong distribution network to penetrate the potential market.
Detailed Segmentation: Global Polyurethane Dispersions Market
By Application – Textile Finishing, Leather Finishing, Paints and Coatings, Adhesives and Sealants, and Other Application
Europe – Germany, UK, Spain, France, Italy, Russia, Rest of Europe
Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
Latin America – Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2028. For the purpose of this study, analyst has segmented the global polyurethane dispersions market report based on the type, application, and region.
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Global Polyurethane Dispersions Market, By Type:
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