New York, June 21, 2023 (GLOBE NEWSWIRE) -- The Global Waterborne Polyurethane Dispersions Market reached a size of US$1.52 billion in 2022 and is predicted to expand at a 5.8% CAGR from 2023 to 2033. The market is expected to exhibit steady growth due to the increasing use of waterborne polyurethane dispersions in wood coating & textile coating applications. Worldwide sales of waterborne PUDs are expected to reach US$ 2.8 billion by the end of 2033.
Waterborne polyurethane dispersions (PUDs) are a flexible and environmentally friendly coating material comprised of polyurethane particles dispersed in water. Compared to solvent-based coatings, they offer numerous benefits such as low volatile organic compound (VOC) emissions and easy application. Waterborne PUDs have a wide range of applications across different industries. In the automotive sector, they are commonly utilized to coat interior and exterior components, providing superior scratch resistance and durability improvements.
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PUDs are a type of water-based coating that has garnered considerable market momentum. PUDs are created by dispersing polyurethane particles in water, yielding a stable and simple-to-use liquid coating material. Use of water as a carrier decreases the danger of harmful chemical exposure and increases worker safety during the application and curing procedures. As a result, PUDs are a popular choice in a variety of industries where worker safety is a top consideration.
Waterborne polyurethane dispersions offer excellent performance characteristics, including superior chemical resistance, abrasion resistance, and mechanical properties. As consumers increasingly prioritize high-performance coatings, demand for waterborne polyurethane dispersions is expected to rise.
Key Takeaways from Market Study
- The global waterborne polyurethane dispersions market is forecasted to reach a value of US$ 2.8 billion by the end of 2033.
- Self-crosslinking PUD demand is estimated to expand at 6.1% CAGR during the assessment period (2023 to 2033).
- Wood coatings are estimated to remain a key application of waterborne polyurethane dispersions. The segment is predicted to expand at 6.1% CAGR during the forecast period.
- The North American market is anticipated to create an incremental dollar opportunity of US$ 237.7 million over the decade.
“Investments in expanding domestic production and application areas of waterborne polyurethane dispersions is a key success strategy for manufacturers. These investments aim to offer cost-effective solutions to consumers, catering to their diverse needs and requirements,” says a Persistence Market Research analyst.
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Competitive Landscape
The waterborne polyurethane dispersions market is witnessing consolidation as a result of mergers and acquisitions. Large multinational companies are acquiring smaller players to expand their product portfolio and geographic reach. This trend is expected to continue in the future, leading to further consolidation.
Some of the key market players included in the report are BASF SE, Lubrizol Corp. Covestro AG, Dow Inc., Wanhua Chemical Group, Mitsui Chemicals, DIC Corp., Lanxess AG, Songwon Industrial Co. Ltd., and many others. Key market participants are expected to maintain a competitive environment all over the globe.
The market for waterborne polyurethane dispersions has witnessed notable technological advancements in production methods. Manufacturers are focusing on research and development efforts aimed at enhancing the performance attributes of these dispersions, including enhancement in adhesion, durability, and flexibility.
Key market players are actively engaged in expanding their production capacities to meet the growing demand for waterborne polyurethane dispersions.
More Valuable Insights Available
Persistence Market Research, a research and consulting firm, has published a report on the global waterborne polyurethane dispersions market with demand analyses for 2018 to 2022 and opportunity assessment for 2023 to 2033.
The report provides an in-depth analysis of the market through different segments, namely, product type, application, and region. The report also provides supply and demand trends along with an overview of the parent market.
For additional insights on how the global waterborne polyurethane dispersions market will shape up over the decade, write to media@persistencemarketresearch.com
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