The global Polyurethane Dispersion (PUD) Market size is expected to value at USD 1.6 billion by 2022. The market is subject to witness a substantial growth due to the robust growth in various verticals such as buildings & construction industry, automotive sector, packaging industry, textile and leather industry. Rising demand for leather and textile products from Asia Pacific and North America region are expected to augment market demand for polyurethane dispersion (PUD) over the next seven years. Globally, the polyurethane dispersion (PUD) market is predicted to grow at CAGR of 5.9% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Rapid growth of automotive sector in the Asia Pacific and South-Central America region is one of the major contributing growth factor. Increase in manufacturing of vehicles owing to lower manufacturing cost are anticipated to fuel market demand for polyurethane dispersion (PUD) products. Favorable government initiatives and policies to promote use of polyurethane dispersion (PUD) are expected to offer lucrative growth opportunities for industry participants in the upcoming years. Recent technological advancements in the automotive industry coupled with development of innovative products such as waterborne polyurethane dispersion (PUD) and hot melts coating are anticipated to foster the market growth.
Waterborne polyurethane dispersions (PUDs) coatings and adhesives are water soluble in the nature are commonly preferred over solvent-based polyurethane dispersion (PUD) adhesives due to their eco-friendly nature. Stringent laws & regulation associated with the use of volatile organic compounds (VOCs) that generates hazardous air pollutants (HAPs) are expected to drive the market demand for polyurethane dispersions (PUDs) coatings and adhesives for various industrial as well as commercial applications.
Polyurethane dispersions (PUDs) coatings and adhesives exhibit properties such as stability, flexibility, easy to use and solubility. Development of ambient-cured (air dried) or baked coatings that are highly flexible with rigid substrates, which are used for production of flooring elements, fabric, leather, metal, plastics and paper. These factors are anticipated to stimulate the growth of polyurethane dispersion (PUD) industry over the forecast period. In addition, polyurethane dispersions (PUDs) are commonly used as graphic art inks, adhesives for shoes and textiles and leather coats. Methylene diphenyl di-isocyanate (MDI), Toluene di-isocyanate (TDI) and polyols are raw materials that are used for manufacturing polyurethane dispersions (PUDs). Volatility in the cost of raw material prices is considered as one of the major challenge faced by polyurethane dispersion market, in the recent years.
The polyurethane dispersion (PUD) industry is broadly categorized into two major segments based on the product type such as water based polyurethane dispersion (PUD) adhesives and solvent-based polyurethane dispersion (PUD) adhesives. The water-based polyurethane dispersion (PUD) adhesives is considered as one of the fastest growing segment in the PUD market with substantial revenue generation in the last few years.
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Growing popularity of the water based polyurethane dispersion (PUD) adhesives segment is attributed to the favorable regulatory norms and rising consummation. The solvent-based polyurethane dispersion (PUD) adhesives segment has witnessed a steady growth due to the increase in consummation of water-based polyurethane dispersion (PUD) adhesives due to their eco-friendly nature.
The PUD industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the buildings & construction industry, automotive sector, and packaging industry, and existence of well-established infrastructure. Asia-Pacific region is predicted to hold major market share in the polyurethane dispersion (PUD) with massive growth in forecast period.
Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth in the region, rapid urbanization, substantial growth in various end-user industries, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the polyurethane dispersion industry are Alberdingk Boley, Inc., BASF S.E., Cytec Industries, Inc., Covestro, Chemtura Co., Dow Chemical Company Pvt., Ltd., Hauthaway Co., Mitsui Chemicals, Inc., and Lubrizol Co.
PUD Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Water-based dispersions
• Solvent-based dispersions
PUD Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Textile Finishing
• Natural Leather Finishing
• Synthetic Leather
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PUD Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa