Albany NY, United States, May 03, 2022 (GLOBE NEWSWIRE) -- The global polyurethane (PU) dispersions (aqueous and solvent) market is expected to register growth at a CAGR of 5.5% during the forecast period of 2021 to 2031, states a study by Transparency Market Research (TMR).
In recent years, there has been a surge in the demand for polyurethane-coated floors due to their many advantages, including aesthetic looks and outstanding durability. This factor is generating sizable business opportunities in the global polyurethane (PU) dispersions (aqueous and solvent) market.
Wood flooring coatings are being increasingly utilized. This trend is prognosticated to continue during the forecast period. Moreover, demand for one-component (1K) solvent-borne and two-component (2K) waterborne (WB) polyurethane (PU) coatings is estimated to be increased in commercial as well as residential sectors around the world, notes the TMR study on the global polyurethane (PU) dispersions (aqueous and solvent) market.
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Many companies operating in the polyurethane (PU) dispersions (aqueous and solvent) market are focusing on strengthening their production capabilities in low-volatile organic compound (VOC) and low-odor coatings. These strategies are helping companies to adhere to stringent environmental regulations of many nations around the world.
The polyurethane (PU) dispersions (aqueous and solvent) market is projected to gain exceptional growth prospects in Asia Pacific, owing to factors such as rising production as well as utilization of PUDs in several emerging nations, including China and India.
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Polyurethane (PU) Dispersions (Aqueous and Solvent) Market: Key Findings
- In recent years, there has been a surge in use of bio-based materials instead of petroleum-based resources in the process of adhesives development. Moreover, growing commercialization of bio-based adhesives is resulting in to extra costs linked to the incorporation of materials in present technologies. Therefore, many companies operating in the polyurethane (PU) dispersions (aqueous and solvent) market are focusing on the use of plant-based materials in order to offer properties that are suitable in densely cross-linked networks.
- Major players operating in the global polyurethane (PU) dispersions (aqueous and solvent) market are working on mission-critical projects in natural leather finishing, adhesives production, and textile finishing during the COVID-19 pandemic. Furthermore, several enterprises in the polyurethane (PU) dispersions (aqueous and solvent) market are focusing on increasing their production capabilities in PUDs with customizable properties. In addition, they are providing products that offer essential durability and flexibility to end users in important applications, notes the TMR study on polyurethane (PU) dispersions (aqueous and solvent) market.
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Polyurethane (PU) Dispersions (Aqueous and Solvent) Market: Growth Boosters
- Rising use of water-based systems in the restoration of old wood floors as well as new unfinished wood floor in the construction industry is driving sales in the market
- Expansion of the construction sector globally is projected to boost the growth of the polyurethane (PU) dispersions (aqueous and solvent) market
- Players in the polyurethane (PU) dispersions (aqueous and solvent) market are projected to gain lucrative opportunities with rising product use in textile finishing applications
- Growing focus of enterprises in the polyurethane (PU) dispersions (aqueous and solvent) market on the expansion of their product portfolio in automotive coatings is projected to fuel market expansion
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Polyurethane (PU) Dispersions (Aqueous and Solvent) Market: Key Players
Some of the key players profiled in the report are:
- Bayer MaterialScience AG
- Alberdingk Boley
- Chemtura Corporation
- BASF SE
- Mitsui Chemicals Inc.
- Dow Chemical Company
- Hauthaway Corporation
- Cytec Industries Inc.
- Lubrizol
Polyurethane (PU) Dispersions (Aqueous and Solvent) Market Segmentation
Product
- Water Based
- Solvent Based
Application
- Textile Finishing
- Natural Leather Finishing
- Synthetic Leather Production
- Others (Adhesives and Coatings)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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