Polyurethane dispersions (PUDs) are high solid dispersions of polyurethane polymers in water. They are used to prepare polyurethane coatings and adhesives containing very low volatile organic compounds that show superior adhesion and coating properties for glass, wood, textiles, plastics, metal, rubber and other high performance substrates. PUDs provide the performance of polyurethane with additional advantages such as elimination of odor, lack of harmful monomers, and absence of toxic volatile organic compounds. They exhibit high toughness and can be used in coatings, sealants, and adhesives.
Environmental regulations such as the amendments U.S. Clean Air Act since 2008 and recent technological innovations have made PUDs an effective substitute for solvent based analogs in the polyurethane coatings and adhesives industry. As a result, the use of solvent based coatings is being reduced in developed nations such as the U.S. and most European countries. They are being replaced by aqueous PUDs which are waterborne systems that combine all the required properties of solvent based systems with the added advantage of being ecofriendly in nature.
Owing to the changing scenario of growing environmental awareness in developed regions such as Europe and North America, stringent rules are implemented regarding the use of solvent based coatings. They are being replaced by aqueous PUDs which are waterborne systems that combine all the required properties of solvent based systems with the added advantage of being ecofriendly in nature. The value chain of PUDs includes raw material suppliers, PUD manufacturers, applications and end-use industries. Market players such as Dow Chemicals, BASF SE and Bayer MaterialScience are integrated in the industry, producing raw materials required for PUD production as well as manufacturing adhesives and coatings where the PUDs are used.
The global consumption of PUD was 267.1 kilo tons in 2011 which is expected to grow at a CAGR of 5.5% from 2012 to 2018 and reach 369.3 kilo tons by 2018. Water-based solvents accounted for the largest share of the polyurethane dispersions market in terms of both volume and revenue in 2011. Developed nations such as North America and Europe have started phasing out solvent based PUDs and are replacing it with water based polyurethane dispersions.
Key applications of PUDs include coatings, adhesives and synthetic leather production along with others such as textile finishing and natural leather production. Adhesives and coatings dominate the global PUD consumption and the positive growth in synthetic leather production and textile finishing industry is driving the global PUD market. Synthetic leather production is expected to be the fastest growing segment in the coming years due to the increase in demand for synthetic leather from automobiles, furniture and the interior industries.
The global polyurethane dispersions market is segmented into five key regions, North America, Europe, Asia Pacific, South America and RoW (Middle East and South Africa). Asia Pacific was the largest market for polyurethane dispersions, which accounted for 36.6% share followed by Europe that accounted for 28.6% share of the global market in 2012. Asia Pacific is the largest regional segment and is also expected to experience highest growth rate in the PUDs market due to the growing consumption as well as production of PUDs in emerging countries such as India and China. Alberdingk Boley, Bayer MaterialScience AG, BASF SE, Chemtura Corporation, and Hauthaway Corporation are some of the key participants of the PUD market.
The demand for polyurethane dispersions is mainly triggered by growing demand from the coatings and adhesive industry. In the coming years, the new regulations that limit the amount of volatile organic compounds (VOCs) allowed in paints, adhesives, coatings and other such products, is expected to provide potential opportunities for the market to flourish.
This market research report by Transparency Market Research estimates and analyses the global demand for polyurethane dispersions in terms of revenue (USD million) and volume (kilo tons) for the six year period from 2012 to 2018. It offers information on the driving and restraining factors, latest trends influencing the market and opportunities available in the near future for the polyurethane dispersions market. The demand for polyurethane dispersions in 2012 was 267.1 kilo tons and is forecast to reach 369.3 kilo tons by the end of 2018, growing at a CAGR of 5.5% between 2012 and 2018.
The demand for polyurethane dispersions is mainly fueled by growing demand from the synthetic leather production industry. This report segments the market based on applications such as textile finishing, synthetic leather production and natural leather finishing. Key product segments analyzed, estimated and forecasted in this report include solvent-based and water-based PUDs for the period from 2011 to 2018. For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed the key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
The PUD market is also analyzed based on regional outlook, segmenting the market into key regions such as North America, Europe, Asia-Pacific and Rest of the World. Each of the these geographic areas are further segmented based on PUD applications, and thorough analysis and forecast of each application in terms of revenue and volume for the period from 2011 to 2018 has been included in the report.
The market research study includes product value chain analysis with detailed description beginning with raw material right up to its end use. The report provides an analysis based on Porter’s five forces to pinpoint the pros and cons of various factors influencing the PUD industry. This helps the various market participants such as potential new entrants, suppliers of raw materials, substitutes, and buyers, in their strategy making process. Market size and forecast for each major application is provided in the context of the global as well as regional market. All volumes i.e. Kilogram/Tons/Kilo Tons are expressed as Kilogram/Tons/Kilo Tons of dry polymers. All market revenue has been calculated on the basis of sales and consumption trends. All USD exchange rates are as of 2013. Inflation is not a part of pricing in this report. Prices vary in each region. Given that different end users use different types of products, pricing for each application varies according to region while estimating and forecasting market revenue on a global basis. Regional average price has been considered while breaking down this market by end application in each region.
Some of the key participants of the PUD market profiled in this report include Alberdingk Boley, Bayer MaterialScience AG, BASF SE., Chemtura Corporation, Dow Chemical Company, Mitsui Chemicals Inc., Cytec Industries Inc., Hauthaway Corporation, and Lubrizol. These companies are profiled in detail covering features such as financial overview, SWOT analysis, business strategies, company overview, product portfolio and recent developments of each company.
Polyurethane Dispersions Market: Product segment analysis
- Water based
- Solvent based
Polyurethane Dispersions Market: Application analysis
- Textile finishing
- Natural leather finishing
- Synthetic leather production
- Others (adhesives and coatings)
Polyurethane Dispersions Market: Regional analysis
- North America
- Asia Pacific
- Rest of the World (Middle East, Africa, Latin America)