The global polyurethane dispersions (PUDs) market is led by companies such as Alberdingk Boley, BASF SE., Bayer MaterialScience AG, Chemtura Corporation, Mitsui Chemicals Inc., Dow Chemical Company, Cytec Industries Inc., Lubrizol, and Hauthaway Corporation, states a new report by Transparency Market Research (TMR). The market for polyurethane dispersions is highly fragmented. Players in the industry are investing in research and development so as to expand the application area of polyurethane dispersions. Product variation is another area by which players are trying to compete with each other.
According to the market research report by the market intelligence firm, TMR, the global polyurethane dispersions (PUDs) industry is anticipated to reach US$1.18 bn by 2018. By product, the market is segmented into water based polyurethane dispersions and solvent based polyurethane dispersions. In terms of application, the global polyurethane dispersions market is segmented into textile finishing, natural leather finishing, synthetic leather production, and other applications. In terms of consumption, the global polyurethane dispersions market global polyurethane dispersions market is primarily driven by the growth of the textile finishing industry, and higher production of synthetic leather. Polyurethane dispersions refer to high solid dispersionis led by the others segment, which comprises adhesives and coatings. Also, the synthetic leather market segment is expected to witness a healthy growth in the coming years. The high demand for synthetic leather from industries such as automobile, interiors, and furniture is likely to be the reason behind the robust growth of this segment.
Asia Pacific to Lead in Terms of Consumption and Production of Polyurethane Dispersions
In this report, the global polyurethane dispersions market is segmented on the basis of geography into North America, Asia Pacific, South America, Europe, and the Rest of the World. Of these, Asia Pacific led the polyurethane dispersions market in the past, followed by Europe. “It is expected that Asia Pacific will lead in the market in the future on account of high consumption and production from countries such as China and India,” says a TMR analyst. Asia Pacific is estimated to lead both in terms of revenue and production, as per the market experts.
Thriving Textile Finishing Industry Continues to be Main Growth Driver for Polyurethane Dispersions Market
According to the report, the global demand for polyurethane dispersions is majorly owing to a high growth in the textile finishing industry. The thriving textile industry, especially in the Asia Pacific region is expected to remain a key driver for the market. Another important factor driving the market for polyurethane dispersions is the high production of synthetic leather. The demand for polyurethane dispersions is also significant owing to their use in manufacturing polyurethane coatings and adhesives.
Polyurethane dispersions not only give polyurethane-like-performance but also offer other benefit such as elimination of odor, nonexistence of volatile organic compounds which are toxic, and also the absence of harmful monomers. Moreover, they have a higher degree of toughness and thus, used in sealants, coatings, and adhesives.
This information is based on the findings of a report published by Transparency Market Research titled “Polyurethane (PU) Dispersions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018.”
The global polyurethane dispersions market is segmented as follows:
Polyurethane Dispersions Market: Product segment analysis
Polyurethane Dispersions Market: Application analysis
Polyurethane Dispersions Market: Regional analysis
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