Manufacturers Bolster Credibility by Introducing Environment-friendly Water-based Systems

Rapid production of modern cars has created a demand for a mixture of materials. Apart from steel and aluminum, carmakers are harnessing the advantages of plastic materials. Likewise, leading chemical companies in the Europe polyurethane dispersions market are keen on expanding their portfolio in adhesives and automotive coatings to generate revenue streams. For instance, leading German chemical company BASF SE — announced to invest in the capacity expansion of water-based polyurethane dispersions (PUDs) at its production facility in Castellbisbal, Spain.

Companies in the Europe polyurethane dispersions market are tapping opportunities in automotive and industrial coatings. This is evident since paint & coating application segment is projected for exponential growth and the Europe polyurethane dispersions market is expected to reach a value of ~US$ 7 Bn by the end of 2030. Manufacturers in the market for polyurethane dispersions in Europe are aiming to increase their production capacities to strengthen their supply chains of high-quality polyurethane dispersions. They are increasing their focus in adhesives and coatings to support the preference from solvent-based coating systems to more environmental-friendly water-based systems.

europe polyurethane dispersions market infographic

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Waterborne Polyurethane Coatings Acquire Prominence in Wood Flooring Applications

The demand for wood flooring coatings is estimated to progress at a steady rate. Likewise, one-component (1K) solventborne and two-component (2K) waterborne (WB) polyurethane (PUR) coatings are gaining prominence in residential and commercial sectors. The ever-growing construction sector is another key driver that is contributing toward the growth of the Europe polyurethane dispersions market. As such, water-based systems are being pervasively used in new unfinished wood floor installations as well as for the restoration of existing wood floors in construction. This is evident since water-based type segment is anticipated for exponential growth in the market for polyurethane dispersions in Europe.

Polyurethane-coated floors are being highly publicized, owing to their excellent durability and desirable aesthetic looks. Due to strict environmental regulations, manufacturers in the market for polyurethane dispersions in Europe are increasing their production capacities to develop low-VOC (Volatile Organic Compound) and low-odor coatings. Hence, manufacturers in the Europe polyurethane dispersions market are increasing the availability of high-performance waterborne polyurethane coatings.

Companies Spark Interest in Traditional Bio-based Binders for Novel Adhesive Technologies

The demand for bio-based materials is surging due to increased awareness about environmental footprint in the market for polyurethane dispersions in Europe. This is also true in the field of adhesives, as manufacturers are increasing their efficacy to source renewable materials. As such, adhesives & sealants application segment is expected to witness considerable growth in terms of revenue in the Europe polyurethane dispersions market. However, sustainability is one of the main concerns in the field of bio-based materials, since it is challenging to incorporate new materials as drop-in replacements in existing technologies. This the modest growth of the Europe polyurethane dispersions market, which is anticipated to progress at a rate of 5.5% during the forecast period. Hence, manufacturers are focusing on new molecular architectures to overcome the limitations associated with bio-based resources.

Companies in the market for polyurethane dispersions in Europe are innovating in novel adhesive technologies by sparking interest in traditional bio-based binders such as starch and renewable rubber to comply with strict regulatory norms.

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Uncompromised Performance Forms Key Success Factor for Development of PUDs

Solvent-free waterborne PUDs are growing popular as low/no VOC solutions for novel coatings and adhesives. Companies are aiming to bolster their credibility in the Europe polyurethane dispersions market by increasing the availability of coatings and adhesives that offer stable and precise performance properties that align with specific cost requirements of end users. For instance, Perstorp-a Swedish company dealing in specialty chemicals, has a rich portfolio in PUDs such as Oxymer™, Ymer™ and Bis-MPA™ plus renewable polyalcohols that offer the required flexibility to resin producers.

Uncompromised performance and enhanced sustainability are becoming the key focus points for companies in the Europe polyurethane dispersions market. Due to tighter environmental and health legislations, water-based dispersions are being highly preferred in the market for polyurethane dispersions in Europe. With the availability of innovative PUDs, manufacturers can create extremely versatile and high performance coating systems.

europe polyurethane dispersions market segmentation

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Analysts’ Viewpoint

The Europe polyurethane dispersions market is continuously growing due to high presence of fragmented players, accounting for ~58% of the market stake. Hence, manufacturers are competing to increase the availability of PUDs with customizable properties and that offer the required flexibility and durability to end users in demanding applications.

Bio-based materials are increasingly replacing petroleum-based resources for the development of adhesives. However, in the current scenario, large-scale commercialization of bio-based adhesives has led to additional costs associated with the implementation of materials in existing technologies. Hence, companies should increase their focus in plant-based materials to induce properties that favor densely cross-linked networks and adhesion to a variety of substrates.

Europe Polyurethane Dispersions Market: Overview

  • In terms of value, the polyurethane dispersions market in Europe is expected to reach a valuation of US$ 7 Bn by 2030
  • Increase in demand for polyurethane dispersions, owing to their exceptional properties is expected to boost the polyurethane dispersions market in Europe during the forecast period
  • The paints & coatings industry is projected to be highly attractive for the polyurethane dispersions market in Europe in the near future. Formulators can achieve unique coating properties such as durability, varying degrees of flexibility, optimal film hardness, and resistance to chemicals and solvents by using polyurethane dispersions. This is anticipated to propel the demand for polyurethane dispersions in Europe during the forecast period.

Europe Polyurethane Dispersions Market: Key Drivers and Restraints

  • Increase in usage of polyurethane dispersions in the leather industry had encouraged manufacturers to develop polyurethane dispersions particularly for the leather industry. For instance, Evonik’s ORTEGOL P-series of additives has been specifically developed for usage in the production of waterborne PU leather. It includes foaming agents, dispersants, and viscosity enhancers. Lanxess’ WITCOBOND polyurethane dispersions and FOMREZ polyester polyols are used in primers, base coats, and top coats to protect leather by imparting abrasion resistance, stain resistance, and tolerance to cleaning solutions and skin lotions. This, in turn, is projected to boost the demand for polyurethane dispersions in Europe.
  • Prices of polyurethane dispersions are higher than those of acrylic dispersions. In order to compensate for this high cost and, in some cases, improve adhesion to certain substrates, polyurethane dispersions are blended with other low-cost dispersions, including waterborne acrylic, alkyd, polyester, and epoxy resins, or are used in combination with other resins to improve certain properties. Hence, high cost of polyurethane dispersion is estimated to hamper the polyurethane dispersions market in Europe during the forecast period.

Europe Polyurethane Dispersions Market: Key Type Segment

  • Based on type, the polyurethane dispersions market in Europe has been bifurcated into water-based (aqueous) and solvent-based
  • The usage of solvent-based coatings is being phased out in developed regions, especially in Europe. Solvent-based coatings are being replaced with water-based polyurethane dispersions. Water-based polyurethane dispersions are eco-friendly and are available in a wide range of hardness and solid content. Demand for these polyurethane dispersions has been rising in several applications due to their versatility and superior properties such as abrasion resistance, impact strength, and low-temperature flexibility.

Europe Polyurethane Dispersions Market: Prominent Application Segment

  • Based on application, the polyurethane dispersions market in Europe has been divided into paints & coatings, inks, textile, leather finishing, adhesives & sealants, and fiber sizing
  • Demand for polyurethane dispersions in Europe, particularly in the paints & coatings industry, is increasing at a rapid pace. Polyurethane dispersions are highly versatile polymers that are used in the paints & coatings industry, owing to their rapid curing, ease of application, and physical properties.

 Europe Polyurethane Dispersions Market: Major Business Strategies

  • In January 2020, BASF SE announced a single-digit Million Euro investment in capacity expansion of water-based polyurethane dispersions at its Castellbisbal site in Spain. The expansion is expected to allow the company to increase its production capacity by 30%. Thus, BASF SE is making a valuable contribution to the change from solvent-based coating systems to environment-friendly and more sustainable water-based systems.
  • In November 2019, Perstorp expanded its Ymer nonionic dispersing monomer product range for polyurethane dispersions. The new grades introduced by the company are Ymer N90, with a longer EO chain; and N180, with a shorter EO chain. Polyurethane dispersions are used in various applications such as adhesives and coatings for leather, textile, wood, and automotive.
  • In July 2019, LANXESS, a specialty chemicals company, started the production of high performance prepolymers at its site in Porto Feliz, Brazil. The portfolio at this site would include conventional and low free isocyanate prepolymers, and special aqueous polyurethane dispersions. The expansion is projected to help the company expand its business across the globe.

Europe Polyurethane Dispersions Market: Competition Landscape

  • Major manufacturers of polyurethane dispersions include
    • Covestro AG
    • BASF SE
    •  Wanhua Chemical Group Co., Ltd.
    • Stahl Holdings B.V.
    • Perstorp
    •  Alberdingk Boley Inc.,
    • LANXESS

Europe Polyurethane Dispersions Market – Scope of the Report

A new study on the polyurethane dispersions market in Europe published by Transparency Market Research (TMR) presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as structure of the polyurethane dispersions market in the region. TMR’s study offers valuable information on the polyurethane dispersions market in Europe to illustrate how growth would discern during the forecast period of 2019 to 2030.

Key indicators of market growth, which include value chain analysis as well as supply chain analysis and compounded annual growth rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the polyurethane dispersions market in Europe during the forecast period.

An extensive analysis of leading market players’ business strategies is also featured in TMR’s study on the polyurethane dispersions market in Europe. This can help readers understand principal factors to foresee growth of the polyurethane dispersions market in Europe. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the polyurethane dispersionsmarket in Europe, which would guide market players in making apt decisions in the near future.

Key Questions Answered in TMR’s Study on Europe Polyurethane Dispersions Market

  • What would be the Y-o-Y growth rate of the polyurethane dispersions market in Europe between 2019 and 2030?
  • What is the influence of changing trends in technologies on the polyurethane dispersions market in Europe?
  • Would Germany continue to remain the most profitable market for manufacturers of polyurethane dispersions in Europe in the near future?
  • Which factors would impede the growth of the polyurethane dispersions market in Europe during the forecast period?
  • Which are the leading companies in the polyurethane dispersions market in Europe?

Research Methodology

A unique research methodology is utilized by TMR to conduct comprehensive research on the polyurethane dispersions market in Europe and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.

Secondary resources referred to by analysts during production of the report on the polyurethane dispersions market in Europe include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the polyurethane dispersionsmarket in Europe as a primary resource.

These primary and secondary resources provided exclusive information during interviews, which served as a validation from leading players operating in the polyurethane dispersions market in Europe. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the polyurethane dispersions market in Europe with accuracy. The study also uses a top-down approach to assess numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects of the polyurethane dispersions market in Europe more reliable and accurate.

Europe Polyurethane Dispersions Market – Segmentation

TMR’s study on the polyurethane dispersions market in Europe segments the market based on type, application, and country and sub-region. Changing market trends and other crucial market dynamics associated with these segments of the polyurethane dispersions market in Europe are discussed in detail.

Type

Water-based (Aqueous)

Solvent-based

Application

  • Paints & Coatings
    • Plastics & Rubbers
    • Wood
    • Concrete
    • Glass
    • Metals
    • Others (including Ceramics and Paper)
  • Inks
  • Textiles
  • Leather Finishing
  • Adhesives & Sealants
  • Fiber Sizing

Country and Sub-region

  • Germany
  • France
  • Italy
  • U.K.
  • Spain
  • Belgium

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Europe Polyurethane Dispersions Market

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