Polyurethane
Dispersion (PUD) Market study is providing you with the up-to-date, actionable market
information and projections with the latest impact of the Covid 19 outbreak. It
offers all the requisite data to support tactical business decisions and come
up with strategic growth plans. This study also proposes a comprehensive
insight into the development policies and plans in addition to manufacturing
processes and cost structures.
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.
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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.
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.
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